Accelerate Resources : AX8 Confirms High Grade Surface Manganese at Braeside West

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Accelerate Confirms High Grade Surface Manganese

Mineralisation at Braeside West Project, East Pilbara, WA

Highlights

• Due Diligence Rock Chip results confirm near surface high grade Manganese mineralisation.
• Twenty-oneRock Chip samples collected from the Parsons Prospect within Braeside West Project returned 15 manganese grades over 30%Mn
• Best results include:
• • Sample 7233 - 55.3% Mn, 1.99% Fe & 1.37% SiO2
  • Sample 7235 - 53.6% Mn, 1.05% Fe & 5.11% SiO2
  • Sample 7234 - 48.8% Mn, 2.09% Fe & 11.3% SiO2
  • Sample 7233 - 47.7% Mn, 5.06% Fe & 8.59% SiO2
  • Sample 7232 - 47.0% Mn, 12.00% Fe & 1.12% SiO2
• Drill program planning underway

Managing Director Yaxi Zhan commented, "Today's results confirm our observations and historic database collation. Eight samples returned over 40% Mn with low iron and low silica. Whilst we understand that these results are part of the very early stages of our Manganese Strategy, they are very encouraging as the Company is targeting new manganese discoveries to feed both the lithium-ion battery and steel production sectors."

Braeside West Sample Results

Accelerates Manganese Project is situated 120km east of Marble Bar within 70km of the Woodie Woodie Manganese Mine, and 250km from Port Hedland (Figure 1). The Project consists of 2 Exploration Licenses at Braeside West and Ripon Hills East.

The Braeside West Prospect (E45/5854) covers 139km2 and the tenement area has undergone several exploration phases with work consisting of Geological mapping, rock chip sampling, VTEM geophysics and drilling. The recent collation of the historical data has identified multiple manganese targets throughout the tenements. (See ASX Announcement

date 25 October 2021 for more details)

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A recent site visit by Accelerate confirmed the extensive nature of the prospective Pinjian Chert - Carawine Dolomite interface on the tenements, with the high-grade Manganese Rock Chip results adding further weight to the numerous historic surface samples previously collected and reported on WAMEX.

Figure 1: Braeside West and Ripon Hills East Mn project Location

Rock Chip data

Surface sampling was designed to follow north-south and north-east structures that had been identified by surface mapping (Figure 2). Three trends were sampled:

• Trend "A" - north-south consisting of 6 samples over 60m with composites taken within 1-2m of each sample point (samples - 7225 to 7230)
• Trend "B" - north-east, consisting of 9 samples over 80m with composites taken within 1-2m of each sample point (samples - 7216 to 7223)
• Trend "C" - north-south, consisting of 4 samples over 80m with composites taken within 1-2m of each sample point (samples - 7233 to 7236)

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• Samples 7224, 7231 & 7232 are located on manganese outcrop and further samples will be collected from these locations.

Trend A and B are approximately 65m apart, while Trend C is situated 300m from Trends A and B.

The results (Table 1) show a strong manganese result with high grade manganese (+30%) coinciding with low iron (Av < 11% Fe) and low silica (Av < 10% SiO2).

Figure 2: Braeside West Rock Chip Locations

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Sample ID	UTM-East (m)	UTM-North (m)	RL (m)	Fe%	SiO2%	Mn%
7216	289173	7668607	258	57.3	13.60	0.57
7217	289164	7668608	258	5.62	56.00	19.5
7218	289160	7668599	258	29.2	14.30	23.8
7219	289151	7668588	259	29.2	10.20	25.8
7220	289136	7668584	259	16.3	27.70	26.4
7221	289123	7668573	259	13.8	27.00	29.6
7222	289145	7668614	258	19.8	14.10	32.1
7223	289183	7668613	258	26.7	4.89	32.5
7224	289332	7668660	238	4.85	29.50	35.9
7225	289079	7668668	263	9.94	21.20	36.8
7226	289086	7668660	262	7.87	22.30	37.0
7227	289094	7668651	261	14.3	10.40	37.6
7228	289097	7668643	262	8.78	16.70	39.6
7229	289099	7668632	261	15.7	7.58	40.6
7230	289093	7668618	262	11.7	10.00	42.4
7231	289071	7668520	261	6.63	11.00	44.5
7232	288900	7668297	254	12	1.12	47.0
7233	288768	7668430	243	5.06	8.59	47.7
7234	288771	7668436	244	2.09	11.30	48.8
7235	288800	7668460	248	1.45	5.11	53.6
7236	288802	7668494	245	1.99	1.37	55.3

Table 1 Braeside West - Rock chip sampling 2021

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Ripon Hills East

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Figure 3: Ripon Hills Mn Project Location

Ripon Hills East Prospect (E45/5088) is situated 70 km north-west of the world class Woodie Woodie Manganese deposit (Consolidated Minerals') and immediately west of Accelerate's Braeside West Project. The project is a greenfields area that covers 48km2 with limited historic exploration within the license area, despite the presence of favorable "Woodie Woodie" N-S structures and mappable surface manganese mineralisation.

Manganese Strategy

Accelerate has identified future supply disruption and metal shortfalls in the Mn market and has executed a high-grade manganese exploration strategy to supply the battery and steel production markets.

Manganese is a critical element used in steel production. The steel industry is poised to continue growing, providing a steady source of demand for manganese. New demand is arising from clean-energy applications. High purity manganese (HPM) is used as a cheaper substitute for cobalt in nickel-cobalt-manganese (NCM) battery cathodes.

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