Toronto, December 7, 2021 – Canadian Manganese Company Inc. (“CMC” or the “Company”) is pleased to report that the Company has commenced a minimum 16-hole, 5,000 metre diamond drilling program on its wholly owned Plymouth manganese-iron deposit (Plymouth Deposit) (the “Woodstock Project”) in New Brunswick.
As provided in the Company’s recently published technical report entitled “43-101 Technical Report for the Woodstock Project (Plymouth Manganese-Iron Deposit) Woodstock Area, New Brunswick, Canada” (the “Report”), infill drilling at 50m section spacing was outlined in the recommended Phase I program. The primary purpose of this program is to increase the existing geological database, aimed at upgrading a significant percentage of the existing Inferred category mineral resources to the Measured and Indicated categories which will be necessary for the PFS or FS programs to move the Woodstock Project forward.
The new Mineral Resource estimate, as reported in the Report, stands at 43,070,000 tonnes grading 10.01% manganese (utilizing a cut-off grade of 5% Mn) in the inferred category. Applying a cut-off grade of 10% Mn results in Inferred Mineral Resources of 22,330,000 tonnes grading 11.86% Mn.
For the purposes of this news release, Paul Moore, P. Geo., is the designated non-Independent Qualified Person and has reviewed and approved the technical and scientific contents of this news release.
ABOUT CANADIAN MANGANESE
CMC is a Canadian mineral development company aiming to become a supplier of high-purity manganese metal products for the rechargeable battery industry. CMC holds the Woodstock Project in New Brunswick.
For further information:
John F. Kearney: Chairman +1 416 362 6686
Matthew Allas: President and CEO +1 647 338 3748
Additional information on CMC is available at www.CanadianManganese.com
This news release includes forward-looking statements regarding CDMN, and its respective businesses, which may include, but are not limited to, statements with respect to the timing of additional assay results and the ability to provide a Mineral Reserve, the expected plan to become a supplier of high-quality manganese metal products. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “is expected”, “expects”, “scheduled”, “intends”, “contemplates”, “anticipates”, “believes”, “proposes” or variations (including negative variations) of such words and phrases, or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Such statements are based on the current expectations of the management of each entity. By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections, or conclusions will not prove to be accurate, that assumptions may not be correct, and that objectives, strategic goals and priorities will not be achieved. These risks and uncertainties include but are not limited, risks regarding the mining industry, economic factors, the equity markets generally, risks associated with growth and competition as well as those risks and uncertainties identified and reported in the Company’s public filings under its SEDAR profile at www.sedar.com. Although CDMN has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. No forward-looking statement can be guaranteed. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and CDMN undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.