American Manganese Provides Update on its Mineral Properties
American Manganese Inc. (AMY) announced preparations for a new drill program at its Rocher Deboule copper-gold property in British Columbia. The Company has completed a NI43-101 technical report, applied for necessary drilling permits, and established partnerships with local First Nations. Historical production data reveals significant past yields of silver, gold, and copper. Additionally, AMY will not proceed with a previously proposed spin-out of its BC mineral assets, believing it would not enhance shareholder value due to compliance challenges with the TSX Venture Exchange.
- Initiation of a drill program at Rocher Deboule property.
- Completion and filing of a NI43-101 technical report.
- Strong historical production data from Rocher Deboule.
- Decision to halt the spin-out of BC mineral assets, indicating potential strategic challenges.
SURREY, BC / ACCESSWIRE / May 21, 2021 / American Manganese Inc. ("AMY" or the "Company") reports that it is preparing for a drill program at its Rocher Deboule copper-gold property, located south of New Hazelton, BC. The Company has undertaken the following activities:
- Completed and filed a NI43-101 technical report
- Applied for drilling and work permits
- Established and developed a good working relationship with First Nations on land affected by drilling and work programs.
The Rocher Deboule deposit has had historic production of 36,457 tonnes containing 2,167,780 grams silver, 133,676 grams gold and 2,557,433 kilograms of copper between 1915 and 1929; the adjacent Highland Boy produced 68 tonnes containing 1,089 grams silver, 124 grams gold and 4,760 kilograms of copper, and the nearby Victoria produced 51 tonnes, containing 7,341 grams gold, 7,710 kilograms of arsenic and 785 kilograms of cobalt between 1926 and 1940. These mineral deposits are associated with the Late Cretaceous Bulkley Plutonic Suite, and the Rocher Deboule feldspar porphyry stock. Recent fieldwork involving rock and soil sampling of the western portion of the claims has revealed potential for "Iron Oxide Copper Gold" deposit types. The Victoria No 3 Vein trends west towards Upper Cretaceous Kasalka Fm volcanic-hosted garnet-sericite-illite-quartz-calcite-chlorite-actinolite alteration. A Qualified Person (as that term is defined under National Instrument 43-101) has not done sufficient work to classify the foregoing historical estimates as current mineral resources or mineral reserves and the Company is not treating the historical estimates as current mineral resources or mineral reserves.
AMY also reports that after thoughtful consideration by its management and board of directors, the Company will not proceed with the proposed spin-out of its BC mineral assets into a new company as originally announced in July 2020. The Company believes that AMY's current share structure makes it onerous to comply with the TSX Venture Exchange's policies with respect to spinouts, and that such a transaction will not necessarily increase shareholder value.
Andris Kikauka (P. Geo.), Director for American Manganese Inc, has prepared, reviewed, and approved the scientific and technical information in this press release. Mr. Kikauka is a non-independent Qualified Person within the meaning of National Instrument 43-101 standards.
American Manganese's current portfolio of projects includes the development of a lithium-ion battery cathode recycling demonstration plant and the Wenden Stockpile reclamation and advanced material processing bench-scale project, funded by the U.S. Defense Logistics Agency. In addition, the Company holds mineral assets in British Columbia and Arizona.
American Manganese Inc. is a critical metals company focused on the recycling of lithium-ion batteries with the RecycLiCo™ patented process. The RecycLiCo™ patented process was developed to offer a closed-loop and environmentally friendly solution for the recycling of cathode materials used in lithium-ion batteries. The recycling process provides high extraction and purity of cathode metals, such as lithium, cobalt, nickel, manganese, and aluminum. The RecycLiCo™ process was designed with the goal to produce recycled battery products that could be seamlessly and directly integrated into the re-manufacturing of battery cathodes using minimal processing steps.
On behalf of Management
AMERICAN MANGANESE INC.
Larry W. Reaugh
President and Chief Executive Officer
Telephone: 778 574 4444
Email: lreaugh@amymn.com
www.americanmanganeseinc.com
www.recyclico.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain "forward-looking statements", which are statements about the future based on current expectations or beliefs. For this purpose, statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements by their nature involve risks and uncertainties, and there can be no assurance that such statements will prove to be accurate or true. Investors should not place undue reliance on forward-looking statements. The Company does not undertake any obligation to update forward-looking statements except as required by law.
SOURCE: American Manganese Inc.
View source version on accesswire.com:
https://www.accesswire.com/648501/American-Manganese-Provides-Update-on-its-Mineral-Properties
FAQ
What recent developments has American Manganese Inc. (AMYZF) announced?
What historical production data was reported for the Rocher Deboule property?
Why did American Manganese (AMYZF) decide against the spin-out of its BC mineral assets?
What is the significance of the NI43-101 technical report filed by AMYZF?
How does the new drill program at Rocher Deboule benefit shareholders of AMYZF?
