Manning Ventures Plans Exploration Program at the Bounty Lithium Project
Vancouver, March 10, 2022 - Manning Ventures Inc. (the "Company" or "Manning") (CSE:MANN); (FRA:1H5); (OTC:MANVF) is pleased to announce that it will execute its initial exploration plan at the Company's 100%-owned Bounty Lithium Property (the "Property"), located in the James Bay Lithium District of northern Quebec. The Property was staked due to its prospective nature for hosting hard-rock, pegmatite-hosted lithium mineralization. It was selected as a result of a regional targeting method which included the review of pegmatite occurrences across Quebec with the appropriate indicator-mineralogy and indicator-chemistry for hosting Lithium-Cesium-Tantalum (LCT) style, spodumene-bearing pegmatites, within favourable host-rocks. The Property is host to several known pegmatite outcrops, but the project remains underexplored as little to no lithium-focused work has ever been conducted on the Property.
Additional targeting efforts have outlined an additional 24 possible pegmatite occurrences based on satellite imagery analysis, to bring the total number of targets to 53. These target areas, as well as the location of the geochemical and mineral indicator anomalies, are shown on Figure 2.
The company intends to undertake initial exploration on the property in the next six to eight weeks. The inaugural work program will consist primarily of mapping and sampling of the newly identified target areas.
"We're eager to get boots on the ground at Bounty," said Alex Klenman, CEO. "Bounty is an excellent exploration proposition. It shows favourable geological characteristics that are conducive to lithium mineralization, and it's entirely underexplored. Nobody has tested these pegmatites. The area is already well established as a known lithium district. To acquire essentially virgin ground with positive geological data is exactly the type of exploration scenario you look for," continued Mr. Klenman.
The James Bay Pegmatite District of Quebec is known to host 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 Elements Lithium Corp.; and
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Whabouchi Lithium Deposit of Nemaska Lithium
Spodumene bearing pegmatites are important sources of hard rock lithium. With rising EV demand lithium hydroxide and lithium carbonatite prices have risen by over 200% during 2021. Despite the price rises the forecast lithium market imbalance will continue to increase dramatically in coming years (Allkem, CEO Presentation, 2021).
The Company anticipates undertaking an aggressive approach to exploration of the Property. Given its setting within the Eastmain Greenstone Belt, which is also prospective for gold occurrences, airborne geophysics can be used to highlight magnetically quite corridors favorable for pegmatite occurrences. Some follow up ground work is anticipated during winter months which will include the examination of prominent outcrops and visual inspection for lithium minerals.
Further, the Company is continuing to evaluate a number of opportunities in the battery mineral sector.
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Figure 1: Manning's property within the James Bay Lithium-Pegmatite District, Quebec
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Figure 2: Bounty Lithium Project with pegmatite target areas, indicator mineral and geochemistry anomalies
QP Disclosure
Neil McCallum, B.Sc., P.Geo., of Dahrouge Geological Consulting Ltd., a registered permit holder with the Ordre des Géologues du Québec and Qualified Person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects, supervised the preparation of the technical information in this news release.
About Manning Ventures
Manning is a broad-based mineral exploration and development company with a focus in Canada. Manning holds a 100% interest in six mineral properties (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 in Ontario.
For further information contact:
Alex Klenman - CEO
Email: info@manning-ventures.com
Telephone: (604) 681-0084
www.manning-ventures.com
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this news release. The Canadian Securities Exchange has not in any way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this news release.
FORWARD LOOKING STATEMENTS:
Completion of the acquisition is subject to a number of conditions, including receipt of appropriate regulatory approvals. The acquisition cannot close until all such conditions are satisfied. There can be no assurance that the Acquisition will be completed as proposed or at all.
Certain information in this news release may contain forward-looking statements that involve 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 of historical fact included in this news release are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations include the failure to satisfy the conditions of the relevant securities exchange(s) and other risks detailed from time to time in the filings made by the Company with securities regulations. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company disclaims any intention or obligation to update or revise such information, except as required by applicable law.
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