Manning Ventures Inc. Announces Analytical Results from its Recent Phase 1 Ground Mapping and Rock Sampling Program at Three of its 100%-Owned Iron Ore Projects, in the Wabush-Fermont Iron Ore District, Quebec, Canada
July 29, 2021 at 09:30 pm IST
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Manning Ventures Inc. announced analytical results from its recent Phase 1 ground mapping and rock sampling program at three of its 100%-owned Iron Ore projects, located in the Wabush-Fermont Iron Ore District, Quebec, Canada. Results of the analytical sampling are summarized below: Lac Simone: Iron Formation outcrop was sampled at three locations on the Lac Simone Property, each assaying greater than 15% Fe(total), which is the minimum cut-off grade used for many of the advanced projects in the region. In total, 8 samples collected returned assays greater than 15% Fe(total), including 4 that are greater than 25% Fe(total). The project consists of several, structurally complex iron-formation targets. While sampling has confirmed several targets, some of the targets remain un-sampled, due to low-lying topography and thus can only be tested by drilling. The sampling has confirmed excellent iron grades at two new discovery areas that have not had any documented work. Hope Lake: Iron Formation outcrop was sampled at several locations along the 15-kilometre-long trend across the Property and returned assays greater than 15% Fe(total). In total, 21 samples collected returned assays of greater than 15% Fe(total), including 16 that are greater than 25% Fe(total). The project consists of linear-style of iron formation with greater exposure than that of Lac Simone, and thus more samples were collected. Drill testing will be the next step to determine the true thickness of the iron formation on the project. The sampling has confirmed excellent iron grades at three known prospect areas at the far west and east ends of the project. The current work program made a new discovery of iron-formation in the center of the project, where no historical work has been documented. Broken Lake: Iron formation outcrop was sampled at the highest priority trend of the many target areas of the Broken Lake Project. In total, 5 samples collected returned assays of greater than 15% Fe(total), including 4 that are greater than 25% Fe(total). The samples were collected in the middle of a 6-kilometre-long magnetic trend. More work is needed to confirm the extent of the iron formation along the trend, and other trends on the project that remain to be explored. The iron-formation, where outcropping, was sampled to assess the grade and mineralogy at each target area. Additionally, other low-grade iron-formation and other rock types were sampled to understand the whole-rock geochemistry of the project. The Company plans to conduct preliminary metallurgical testing of composite samples to determine the quality of each target area. The 3,584.1 hectare Lac Simone Property is situated proximal to the south of Fermont, Quebec, and shares many of the same attributes as other more advanced staged properties nearby; however, it is significantly less developed. The magnetic signature of the Lac Simone Property, along with the regional mapping and historical work, indicates several iron formation horizons are present. Broken Lake is 4,524-ha property that features an approximately 18-km long trend of iron formation that has been historically drill-tested, and a well-mineralized interval exceeding 84 m reported, although no assays were documented (GM04504B). A 6 km long belt of highly magnetic rocks in the area, that has not yet been drill-tested, has been mapped as a magnetite- rich iron formation and represents a prime exploration target. The project contains magnetic signatures and geological mapping that suggest structural thickening and possibly over-turned sequences of rocks that have the potential to create favorable iron formation horizons.
Manning Ventures Inc. is a mineral exploration and development company. The Company is in the exploration stage and its principal business activity is the sourcing and exploration of mineral properties. It holds a 100% interest in the Bounty Lithium Project and the Dipole Lithium Project. The Company also retains interest in six iron ore properties located in the Province of Quebec, and portfolio of polymetallic projects in Newfoundland, including Lac Simone, Hope Lake, Broken Lake, Heart Lake, Hydro, Butterfly Pond, Mount Hogan, Red Indian Lake, and Little Sheep Brook. Bounty Lithium is located within the Eastmain Greenstone Belt in the James Bay Pegmatite District of west-central Quebec, containing 89 mineral claims totaling 4,659 hectares. The Dipole property is located approximately 50 kilometers (kms) along strike from the Kraken discovery and within the Hermitage flexure. The Lac Simone Property is situated approximately 2-to-10 km south of Fermont, QC.
Manning Ventures Inc. Announces Analytical Results from its Recent Phase 1 Ground Mapping and Rock Sampling Program at Three of its 100%-Owned Iron Ore Projects, in the Wabush-Fermont Iron Ore District, Quebec, Canada