Manning Ventures Inc. Annouces Upcoming Field Program at the Newfoundland Dipole Lithium Property
Vancouver, May 11, 2023 - Manning Ventures Inc. (the "Company" or "Manning") (CSE:MANN) (FRA:1H5) (OTC:MANVF) is pleased to provide an update on upcoming exploration activities at it's 100-percent owned Dipole Lithium Property (the "Property") in Newfoundland. The Company is in the planning stages of an extensive field program as soon as weather permits. Manning Ventures Dipole Lithium project is a 997.3-hecatre project located within the Hermitage Flexure structure approximately 50 kilometers along strike of the Sokoman/Benton Kraken Lithium discovery. The Hermitage Flexure is a regional-scale structural corridor containing volcano-sedimentary rock units, which are favorable host-rocks for spodumene-bearing LCT pegmatites. The Hermitage Flexure is thought to be the continuation of the Avalonia to Kings Mountain/Piedmont Trends as discussed below.
During the first half of 2022, Dahrouge Geological Consulting ("DGC") completed a regional metallogenic study of southern Newfoundland and recommended the acquisition of The Property due to its prospective nature for hosting Lithium-Cesium-Tantalum type pegmatite- and/or tungsten mineralization. The Property is host to several positive indicators for lithium mineralization.
The Company completed a reconnaissance scale program in late 2022 that successfully accomplished the task of validating the Property's LCT-style affinity by returning highly anomalous lithium values (up to 472 ppm Li) hosted in a felsic intrusive host rock. This program successfully confirmed that lithium-enriched intrusives are present at Dipole while delineating a newly discovered 100m zone that produced five samples of highly anomalous lithium values from 367 ppm to 472 ppm Li (see Manning news release dated February 8, 2023).
"These highly anomalous lithium values are significant, well above expected background levels, and justify further exploration efforts," said CEO, Alex Klenman. "Given the promising results from the reconnaissance scale program, combined with the positive results nearby, we are eager to conduct further recon and sampling over the summer months with the goal to identify potential first phase drill targets for Q3/Q4," continued Mr. Klenman.
The Company will provide more details on the timing and full scope of planned activities in the coming weeks.
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Figure 1: Dipole Lithium Property Location
Newfoundland Lithium Belt Discovery
Newfoundland's pegmatite belt is over 450 kilometers in length and is analogous to the Avalonia Lithium Belt in Ireland and Kings Mountain/Piedmont Lithium Belt in North Carolina. * LCT-style pegmatites have been identified in regional mapping of Newfoundland since the middle of the 1900s. During the mid-1960s, the Newfoundland government conducted two seasons of pegmatite surveys to evaluate their economic potential. Beryl bearing pegmatites were mapped, but very 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 been released yet no modern-day lithium exploration techniques have been applied in this highly prospective region.
Through their research, various companies actively exploring for lithium in Newfoundland have identified numerous lithium-caesium-tantalum pegmatite targets within belt, and Sokoman Minerals/Benton Resources have made the most significant progress so far*:
https://sokomanmineralscorp.com/2023/05/02/sokoman-and-benton-announce-start-of-2023-drilling-program-at-the-kraken-lithium-and-hydra-cesium-discoveries-in-southwestern-newfoundland/
* Readers are cautioned that information regarding mineral resources, geology, and mineralization on adjacent or similar properties is not necessarily indicative of the mineralization on the Company's properties.
QP Disclosure
Neil McCallum, B.Sc., P.Geo., of Dahrouge Geological Consulting Ltd., 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 the Bounty Lithium Project, located in Quebec, and the Dipole Lithium Project, in Newfoundland. The Company also retains interest in six Iron Ore properties located in the Province of Quebec, and portfolio of polymetallic projects in Newfoundland.
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.
