(TheNewswire)
Vancouver, British Columbia – TheNewswire - May 12, 2022 – Manning VenturesInc. (the “ Company ” or“ Manning ”) (CSE:MANN ) ; ( FRA:1H5 ) ; ( US:MANVF) is pleased to announce that its initial explorationprogram at the Company’s 100%-owned Bounty Lithium Property (the“Property”), located in the James Bay Lithium District of northernQuebec, will commence on or around May 20, 2022.
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.
Data compilation targeting efforts have outlined atotal of 62 target areas , many with previouslydefined indicator-mineralogy and indicator-chemistry for hostingLithium-Cesium-Tantalum (LCT) style, spodumene-bearing pegmatites(Figure 2).
This initial exploration program is designed primarilyto map and sample newly identified target areas and is expected tolast approximately one week.
“This reconnaissance program will provide criticaldata in moving Bounty forward,” said Alex Klenman, CEO. “As hasalready been recognized, Bounty shows favourable geologicalcharacteristics that are conducive to lithium mineralization. Withover 60 pegmatitic targets to test in an increasingly establishedlithium district, we like the way this project is developing. Thepositive exploration proposition at Bounty is abundantly clear,”continued Mr. Klenman.
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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Rose Lithium-Tantalum Deposit of Critical ElementsLithium Corp; and
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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).
Further, the Company is continuing to evaluate a numberof opportunities in the battery mineral sector.
Figure 1: Manning’s propertywithin the James Bay Lithium-Pegmatite District, Quebec
Figure 2: Bounty Lithium Projectwith pegmatite target areas, indicator mineral and geochemistryanomalies
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. The Company is also currently earning towards a majority interest in the Flint Lake Gold Project located inOntario.
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 relevant securitiesexchange(s) and other risks detailed from time to time in the filingsmade 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.
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