(via TheNewswire)
- 14 Samples assay greater than 30% Fe
- Three new areas of iron-formation discovered
As previously announced in a Company news release(
Results of the analytical sampling are summarized below:
- 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) (Figure 2, Table 1).
-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 attwo new discovery areasthat have not had any documented work.
-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) (Figure 3, Table 1).
- 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 anew discovery of iron-formationin the center of the project, where no historical work has been documented.
- 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) (Figure 4, Table 1).- 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.
“These assay results, which are consistent with known deposits in the area, demonstrate the potential of these high-quality iron-ore projects. We’re pleased with the result so far as we continue to build value for our shareholders,”said CEO,
Table 1. 2021 Outcrop Sample summary:
---------------------------------------------------------- |Property |Total |Samples |15-20%|20-25%|25-30%|>30% | | |Samples|>15% Fe(t)|Fe(t) |Fe(t) |Fe(t) |Fe(t)| | | |cutoff | | | | | |--------------------------------------------------------| |Lac Simone|22 |8 |4 |- |1 |3 | |--------------------------------------------------------| |Hope Lake |33 |21 |3 |2 |6 |10 | |--------------------------------------------------------| |Broken |6 |5 |- |1 |3 |1 | |Lake | | | | | | | ----------------------------------------------------------
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Image 1: Manning Ventures Iron-Ore Projects,
Property Descriptions
The3,584.1 hectareLac Simone Propertyis situated proximal to the south of
Historical work between 1956 and 1964 by
TheHope
Broken Lakeis 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.
The Company cautions that no mineral resource, either historical or in accordance withNational Instrument 43-101Standards of Disclosure for Mineral Projects(“NI 43-101”), has been completed for the Lac Simone,
Qualified Person Disclosure
Samples were sent to
About Manning
Manning is a broad-based mineral exploration and development company with a focus in
For further information contact:
Email:info@manning-ventures.com
Telephone: (604) 681-0084
www.manning-ventures.com
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