(TheNewswire)
Vancouver, British Columbia – TheNewswire - September 21, 2022 – Manning VenturesInc. (the “ Company ” or“ Manning ”) (CSE:MANN ) ; ( FRA:1H5) is pleased toannounce that it is set to commence a follow up exploration program atthe Company’s 100%-owned Bounty Lithium Property (the“Property”), located in the James Bay Lithium District of northernQuebec. The program is set to commence in early October.
The 7,544 hectare property was staked due to itsprospective nature for hosting hard-rock, pegmatite-hosted lithiummineralization. It was selected as a result of a regional targetingmethod which included the review of pegmatite occurrences acrossQuebec with the appropriate indicator-mineralogy andindicator-chemistry for hosting Lithium-Cesium-Tantalum (LCT) style,spodumene-bearing pegmatites, within favourable host-rocks. TheProperty is host to several known pegmatite outcrops, but the projectremains underexplored as little to no lithium-focused work has everbeen conducted on the Property.
The Company executed a first pass sampling reconprogram at Bounty in May of this year, with data compilation focusedwithin multiple target areas. Results of this initial programincluded confirmation of very anomalous lithium (201 ppm to 425 ppmlithium) present within several pegmatites. Those samples in the“very anomalous” category appear combined with elevated levels oftantalum, cesium, and rubidium, which confirms theLithium-Cesium-Tantalum (LCT) style pegmatite affinity for theProperty. Additionally, the abundance of tourmaline amongst thecommon pegmatite mineralogy of feldspar, quartz and mica adds to theLCT affinity.
There is an abundance of pegmatite outcrops on theproject that have yet to be sampled, with many located along trendfrom those samples with highly anomalous LCT type pegmatitechemistries. These areas will be targeted in this follow upexploration program.
The spatial distribution of the very anomalouspegmatites, clustering in the center of the property, within thevolcano-sedimentary country rock is thought to be a positiveexploration attribute, given the deposit model within the James BayLithium District.
“We’re excited to get back and continue the earlyexploration strategy at Bounty,” said CEO, Alex Klenman. “Thefirst pass gave us a taste, and we are eager to see what the nextblock of pegmatites yield. The project is highly prospective andvastly underexplored for lithium. Given what we know about the areageology, Bounty demands more detailed exploration,” continued Mr.Klenman.
The James Bay Pegmatite District of Quebec is known tohost several large lithium pegmatite deposits including:
-
James Bay Project of Allkem.
-
Rose Lithium-Tantalum Deposit of Critical ElementsLithium Corp; and
-
Whabouchi Lithium Deposit of Nemaska Lithium
Spodumene bearing pegmatites are important sources ofhard rock lithium. With rising EV demand lithium hydroxide and lithiumcarbonatite prices have risen by over 200% during 2021. Despite theprice rises the forecast lithium market imbalance will continue toincrease dramatically in coming years (Allkem, CEO Presentation,2021).
Figure 1: Manning’s propertywithin the James Bay Lithium-Pegmatite District, Quebec
QP Disclosure
Neil McCallum, B.Sc., P.Geo., of Dahrouge GeologicalConsulting Ltd., a registered permit holder with the Ordre desGéologues du Québec and Qualified Person as defined by NationalInstrument 43-101 – Standards of Disclosure for Mineral Projects ,supervised the preparation of the technical information in this newsrelease.
About ManningVentures
Manning is a broad-based mineral exploration and development company with a focus in Canada. Manning holds a 100% interest in six mineralproperties (iron ore, lithium) located in the province of Quebec, and four projects (polymetallic, rare earths,uranium) in Newfoundland.
For furtherinformation contact:
Manning Ventures Inc.
Alex Klenman - CEO
Email: info@manning-ventures.com
Telephone: (604) 681-0084
www.manning-ventures.com
Neither the Canadian Securities Exchange nor its Regulation ServicesProvider (as that term is defined in the policies of the CanadianSecurities Exchange) accepts responsibility for the adequacy oraccuracy of this news release. The Canadian Securities Exchange hasnot in any way passed upon the merits of the proposed transaction andhas neither approved nor disapproved the contents of this newsrelease.
FORWARD LOOKING STATEMENTS:
Completion of the acquisition issubject to a number of conditions, including receipt of appropriateregulatory approvals. The acquisition cannot close until all suchconditions are satisfied. There can be no assurance that theAcquisition will be completed as proposed or at all.
Certain informationin this news release may contain forward-looking statements thatinvolve substantial known and unknown risks and uncertainties.Forward-looking statements are often identified by terms such as“will”, “may”, “should”, “anticipate”, “expects”and similar expressions. All statements other than statements ofhistorical fact included in this news release are forward-lookingstatements that involve risks and uncertainties. There can be noassurance that such statements will prove to be accurate and actualresults and future events could differ materially from thoseanticipated in such statements. Important factors that could causeactual results to differ materially from the Company’s expectationsinclude the failure to satisfy the conditions of the relevantsecurities exchange(s) and other risks detailed from time to time in thefilings made by the Company with securities regulations. The reader iscautioned that assumptions used in the preparation of anyforward-looking information may prove to be incorrect. Events orcircumstances may cause actual results to differ materially from thosepredicted, as a result of numerous known and unknown risks,uncertainties, and other factors, many of which are beyond the controlof the Company. The reader is cautioned not to place undue reliance onany forward-looking information. Such information, although consideredreasonable by management at the time of preparation, may prove to beincorrect and actual results may differ materially from thoseanticipated. Forward-looking statements contained in this news releaseare expressly qualified by this cautionary statement. Theforward-looking statements contained in this news release are made asof the date of this news release and the Company disclaims anyintention or obligation to update or revise such information, exceptas required by applicable law.
Copyright (c) 2022 TheNewswire - All rights reserved.