Vancouver, British Columbia – TheNewswire – June 23, 2023 – Manning Ventures Inc. (the “Company” or “Manning”) (CSE:MANN); (FRA:1H5) is pleased to announce it has secured crew and equipment for a follow-up exploration program at it’s wholly-owned Dipole Lithium project, located in Newfoundland, Canada. The program is expected to commence within the next few weeks.
The 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.
The mapping and sampling campaign is designed to follow up on the positive results from a brief 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 (see Manning news release dated February 8, 2023). The upcoming work program of approximately one-week is the first extensive field campaign with a primary focus on lithium in the central portion of the “Hermitage Flexure” of Newfoundland.
The Kraken Lithium discovery located approximately 50 kilometres away, discovered by Benton Resources and Sokoman Resources is on the same regional geological structure and is continuing to prove up to be a significant project with recent results of 1.22% Li2O over 13.37 m in recent work (June 20, 2023, News Release, Sokoman Resources).
“We’re eager to follow up on the lithium discovery at Dipole,” said CEO, Alex Klenman. “The numbers generated on that brief first pass were very encouraging, given the area and proximity to significant lithium discoveries. Securing crew and helicopter support has been challenging, given the already impactful fire season and the marked increase in exploration activity in the area. We are set to go and look forward to seeing what a detailed reconnaissance and sampling program produces. We’re in the right geological setting, with positive geochemical evidence, we believe Dipole has tremendous upside,” continued Mr. Klenman.
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*:
* 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.
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, in addition to its recently acquired Kaba Lithium/Copper Project in Ontario. The Company also retains interest in six Iron Ore properties located in the Province of Quebec.
For further information contact:
Manning Ventures Inc.
Alex Klenman – CEO
Telephone: (604) 681-0084
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.
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