(TheNewswire)
Vancouver, British Columbia - TheNewswire - October 17, 2023 - Manning Ventures Inc. (the “ Company ” or “ Manning ”) (CSE:MANN ) ( OTC:MANVF ) ( Frankfurt:1H5) is pleased to provide a corporate update regardingexploration activities and plans for its growing lithium projectportfolio.
Throughout 2023 the Company has assembled a highlyprospective lithium exploration project portfolio. The footprintincludes land positions in Ontario, Quebec, and Newfoundland, allwithin established and growing lithium-based explorationdistricts.
Figure 1: Manning Ventures LithiumProjects in Ontario, Quebec and Newfoundland, Canada
Quebec – Leaf River LithiumCamp
Manning has established a significant presence withfour projects located within the emerging Leaf River lithium camp inNorthern Quebec. Other companies operating in the area and alreadygenerating positive early-stage results include Discovery Lithium, MaxPower Mining, Eureka Lithium and Targa Exploration (Figure 2).
The Snap,Crackle, Pop and Pow projectsrepresent over 65,000-hectares that target areas that comprise some ofthe highest (99% percentile) lithium, cesium, and rubidium lakesediment anomalies in the Government du Quebec lake sediment database(SIGÉOM).
The Company is pleased to be working with renownedprospector Shawn Ryan and his team at GroundTruth Exploration on thesehighly prospective targets, with a first phase reconnaissance programconsisting of ground mapping and sampling already underway.
Figure 2: Manning project locationsand neighboring companies in the Leaf River Lithium Camp
Quebec – Bounty Lithium Project
The BountyLithium Project is a 4,659-hectare propertylocated in the James Bay Lithium District of northern Quebec.
In 2022 the Company carried out multiple samplingprograms targeting areas that contained anomalous LCT-pegmatites. The highest value so far on the property was collected, containing707 ppm lithium (0.15% Li2O). Additionally, it contains the highestamount of cesium (661 ppm Cs) and very elevated Rubidium (1163 ppmRb); both adding confirmation to the LCT-style pegmatite model on thenorthern end of the property.
Given the distribution of lithium content of otherpegmatites in the James Bay Lithium District, the samples have beencategorized into three categories as follows:
A. Very anomalous (greater than201 ppm lithium).
a. Spring-2022: Sevensamples on the Property are categorized as very anomalous, with up to 425 ppm lithium.
b. Fall-2022: Onesample of up to 707 ppm lithium (0.15% Li2O) was collected.
B. Anomalous (81 to 200 ppm).
a. Spring-2022:Sixteen samples categorized as anomalous,
b. Fall-2022: sixsamples categorized as anomalous, and
C. Not anomalous (below 80 ppm).The remaining samples are considered not anomalous.
Those samples in the “very anomalous” categoryappear combined with elevated levels of tantalum, cesium, andrubidium, which confirms the Lithium-Cesium-Tantalum (LCT) stylepegmatite affinity for the Property. Additionally, the abundance oftourmaline amongst the common pegmatite mineralogy of feldspar, quartzand mica adds to the LCT affinity.
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.
The James Bay Pegmatite District of Quebec is known tohost several large lithium pegmatite deposits including:
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James Bay Project of Allkem.
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Corvette Property of Patriot Battery Metals;
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Rose Lithium-Tantalum Deposit of Critical ElementsLithium Corp; and
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Whabouchi Lithium Deposit of Nemaska Lithium;
Figure 3: 2022 Bounty LithiumProject, James Bay Region, Quebec
Ontario - Kaba Copper-LithiumProject
The KabaCopper-Lithium Project is located 50km northeast of the town of Nipigon, Ontario. Twocopper occurrences on the Property are intimately associated with thenorthwest trending Hall Lake Fault, a product of late-stage MidContinental Rifting. The occurrences are contained within copper-richbreccia’s and veins. Chalcopyrite, bornite and pyrite associatedwith quartz breccia hosted within biotite granite and diabase. Groundand magnetic surveys were completed by Anglo-American in 1968. Twoanomalies were outlined by magnetics 275m and 180m long. The EM surveyindicated mineralization for 1200m. Drilling by Anglo highlighted 26.5m grading 1% Cu and 17.3mgrading 0.54% Cu (MDI42E04NE00007).
Most copper assays were whited out in the assessmentreport. Other intervals include 2.02% Cu over 4.27m and 1.26% Cu over3.65m. Chip samples in 1979 by Stinson reported 0.32% Cu over 9.14m(AFRI 42E04NE8355).
The Project is also located approximately 15kms east ofthe Barbara Lake Lithium-bearing Pegmatite field, where numerousrecent discoveries of Li-bearing pegmatites have occurred. The BarbaraLake area includes, among others, Imagine Lithium, which recentlydrilled 21m of 1.16% Li2O, and 5m of 1.12% Li20 ( Imagine Lithium, News Release, October 19,2022 ) and Rock TechLithium’s Georgia Lake Project, where the Northern SpodumenePegmatite Area has a Measured resource of 2.31mt at 1.04% Li2O and anIndicated resource of 4.31mt at 0.99% Li2O ( Rock Tech 43-101 PEA, March 15,2021 ).
Figure 4: Regional location and landholders in the Kaba Copper Project area.
The Company recently completed a GIS compilation of allhistorical work and drilling in the area, a preliminary reconnaissanceprogram, as well as a high-resolution heli-borne magnetic survey(results pending) which will aid in providing structural features thatis integrally associated with the copper mineralization.
Newfoundland - Dipole LithiumProject
The DipoleLithium Project is a 997.3-hecatre projectlocated within the Hermitage Flexure structure approximately 50kilometers along strike of the Sokoman/Benton Kraken Lithium discoveryin southwestern Newfoundland.
The Hermitage Flexure is a regional-scale structuralcorridor containing volcano-sedimentary rock units, which arefavorable host-rocks for spodumene-bearing LCT pegmatites. The Hermitage Flexure is thought to be thecontinuation of the Avalonia to Kings Mountain/Piedmont Trends asdiscussed below.
During the first half of 2022, Dahrouge GeologicalConsulting completed a regional metallogenic study of southernNewfoundland and recommended the acquisition of The Property due toits prospective nature for hosting Lithium-Cesium-Tantalum typepegmatite- and/or tungsten mineralization. The Property is host toseveral positive indicators for lithium mineralization.
The Company completed a reconnaissance scale program inlate 2022 that successfully accomplished the task of validating theProperty’s LCT-style affinity by returning highly anomalous lithiumvalues (up to 472 ppm Li) hosted in a felsic intrusive host rock. This program successfully confirmed that lithium-enriched intrusivesare present at Dipole while delineating a newly discovered 100m zonethat produced five samples of highly anomalous lithium values from 367ppm to 472 ppm Li (see Manning news release dated February 8, 2023).
Figure 5: Dipole Lithium PropertyLocation, Newfoundland
Newfoundland Lithium BeltDiscovery
Newfoundland’s pegmatite belt is over 450 kilometersin length and is analogous to the Avalonia Lithium Belt in Ireland andKings Mountain/Piedmont Lithium Belt in North Carolina. * LCT-stylepegmatites have been identified in regional mapping of Newfoundlandsince the middle of the 1900s. During the mid-1960s, the Newfoundlandgovernment conducted two seasons of pegmatite surveys to evaluatetheir economic potential. Beryl bearing pegmatites were mapped, butvery little was known about the zonation of metals like beryllium,tantalum, and lithium within pegmatite fields. Since then,significant amounts of new regional geochemical data have beenreleased yet no modern-day lithium exploration techniques have beenapplied in this highly prospective region.
Through their research, various companies activelyexploring for lithium in Newfoundland have identified numerouslithium-caesium-tantalum pegmatite targets within belt, and Sokoman Minerals/Benton Resources have madethe most significant progress so far*:
* Readers arecautioned that information regarding mineral resources, geology, andmineralization on adjacent or similar properties is not necessarilyindicative of the mineralization on the Company’s properties.
Manning Announces PrivatePlacement
The Company wishes to announce that it has arranged anon-brokered private placement to raise up to CDN $1 million. Theoffering will consist of up to 11,111,111 million units consisting ofone common share of the company and a common share purchase warrantentitling the holder to purchase a further share of the company. Theunits are being sold at a price of .09 cents per unit. The warrantswill be exercisable for a period of 12 months from closing, at a priceof .12 cents per share. Finders’ fees may be applicable on theoffering.
Qualified Persons
The technical content of this news release regardingthe Leaf River and Kaba projects has been reviewed and approved byMike Kilbourne, P. Geo., (OGQ # 1971) who is an independent QualifiedPerson (QP) as defined in National Instrument 43-101, Standards ofDisclosure for Mineral Projects. The technical content of this news release regarding the Bounty and Dipoleprojects has been reviewed and approved by NeilMcCallum, B.Sc., P.Geo., of Dahrouge Geological Consulting Ltd., aregistered permit holder with the Ordre des Géologues du Québec andQualified Person as defined by National Instrument 43-101 – Standards of Disclosure forMineral Projects .
About Manning
Manning is a lithium-focused explorationand development company operating in Canada. Manning’s projectportfolio includes the Bounty Lithium Project, located in the JamesBay regio of Quebec, and the Dipole Lithium Project, located inNewfoundland, and the combined 65,000-hectare Snap, Crackle, Pop andPow projects located in the emerging Leaf River Lithium Camp, NorthernQuebec.
For furtherinformation contact:
Manning Ventures Inc.
Alex Klenman - CEO
Email: info@manning-ventures.com
Telephone: (604) 681-0084
www.manning-ventures.com
FORWARD LOOKING STATEMENTS:
The Canadian Securities Exchangedoes not accept responsibility for the adequacy or accuracy of thisnews release.
This news release does notconstitute an offer to sell or a solicitation of an offer to sell anyof the securities in the United States. The securities have not beenand will not be registered under the United States Securities Act of1933, as amended (the “ U.S. Securities Act ”) or any state securities laws, and maynot be offered or sold within the United States, or to or for theaccount or benefit of any U.S. person or any person in the UnitedStates, unless registered under the U.S. Securities Act and applicablestate securities laws or an exemption from such registration isavailable. “ United States ” and“ U.S.Person ” are as defined inRegulation S under the U.S. Securities Act.
Some of the statements contained inthis news release are forward-looking statements and informationwithin the meaning of applicable securities laws. Forward-lookingstatements and information can be identified by the use of words suchas “anticipates”, “plans”, “expects”, “intends”, “isexpected”, “potential”, “suggests” or variations of suchwords or phrases, or statements that certain actions, events or results “may”,“could”, “should”, “would”, “might” or “will” betaken, occur or be achieved. Forward-looking statements andinformation are not historical facts and are subject to a number ofrisks and uncertainties beyond the Company’s control. Actual resultsand developments are likely to differ, and may differ materially, fromthose expressed or implied by the forward-looking statements containedin this news release. Accordingly, readers should not place unduereliance on forward-looking statements. The Company undertakes noobligation to update publicly or otherwise revise any forward-lookingstatements, except as may be required by law.
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