American Manganese to Research Potential to Produce Product for the Battery Industry and Project Review
February 25, 2011 - Vancouver, British Columbia
Mr. Larry Reaugh, President and Chief Executive Officer of American Manganese Inc. (�American Manganese� or the �Company�), (TSX.V: AMY; Pink Sheets: AMYZF), is pleased to report the Company will be researching the possibility to produce value added products at their potential electrolytic manganese metal mining operation at Artillery Peak in Mohave County, Arizona. Focus will be on the lithium manganese (LiMn204) powder utilized in the production of the currently commercialized lithium manganese battery.
Project Review
The 2010 drill program increased the NI-43-101 resources by 45% to:
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0.09% Mn Cut-Off Grade |
1.30% Mn Cut-off Grade |
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TONNES T |
GRADE %Mn |
Mn POUNDS IN BILLIONS (109) |
TONNES T |
GRADE %Mn |
Mn POUNDS IN BILLIONS (109) |
Indicated |
92,823,925 |
3.27% |
6.686 |
80,753,705 |
3.55% |
6.315 |
Inferred |
107,211,073 |
3.76% |
8.881 |
84,122,632 |
4.13% |
7.660 |
The Company's Plan of Operation this year is as follows:
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Complete a NI-43-101 compliant feasibility study by Wardrop Engineering;
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Complete a NI-43-101 compliant Pilot Plant Testing of the Artillery Peak ores using the process design by Kemetco Research Inc. (The president of Kemetco will be presenting a paper, "The Recovery of Manganese from Lower Grade Resources", at the SME conference in Denver, Colorado on March 2, 2011);
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Commence a drill program of approximately 6,200 meters (20,000 ft) by the end of March this year;
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Commence base line environmental studies by April, 2011.
The Company currently has about $5,000,000 in the treasury and with the completion of the $5,000,000 bought deal financing by Laurentian Bank Securities the Company will be well funded to advance the project over the next 18 months.
About Electrolytic Manganese
China controls electrolytic manganese production (EMM) supplying and producing 97.44% of the world�s needs (2.6 billion pounds per year).
There is no substitute for manganese in steel (total manganese market greater than 30 billion pounds per year, fourth largest traded metal).
Manganese is the most critical metal at risk to supply and restriction in the United States as there is no US production. EMM�s greatest uses are the upgrading of specialty steel (47%), and the manufacture of aluminum alloys (32%) and electronics (14%).
China has a 20% export duty on EMM and the US has a 14% import duty; (US Price $1.81/lb) the current world price for Electrolytic Manganese Metal is about $1.52/lb. Manganese resources are declining in China especially carbonate ores for production of EMM, forcing Chinese companies to seek production offshore.
The overall manganese market grew at 8% per year to 30 billion pounds up to 2008. EMM market grew at 26% per year from 2003 � 2008 to 2.6 billion pounds per year.
About American Manganese Inc:
American Manganese Inc. is a diversified specialty and critical metal Company focusing on potentially becoming the lowest cost producer of electrolytic manganese from its Arizona Manganese Project.
This release has been reviewed by John W. Fisher, PEng, a qualified person pursuant to National Instrument 43-101.
On behalf of Management
AMERICAN MANGANESE INC.
Larry W. Reaugh
President and Chief Executive Officer
Information Contact
Larry W. Reaugh
President and Chief Executive Officer
Head Office: 2A 15782 Marine Drive, White Rock, B.C. V4B 1E6
Telephone: 604-531-9639 Facsimile: 604-531-9634
Cautionary Notice: The Reader is cautioned that the full Cautionary Notice is not attached to this email. The reader is requested to access the news release on the Company�s website at www.americanmanganeseinc.com or at SEDAR at www.sedar.com to read the full Cautionary Notice. The full Cautionary Notice is not attached as the recipient�s spam filters frequently block receiving emails containing the full Cautionary Notice.
This message was sent to .com from:
The Reaugh Group | 2a 15782 Marine Drive | White Rock, BC V4B 1E6, Canada |
Email Marketing by |
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American Manganese Inc.
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EXPLORATION STAGE |
CODE : AMY.V |
ISIN : CA02735A1057 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
American Manganese is a exploration company based in Canada. Its main exploration properties are BLACK PRINCE DEPOSIT, OLSON/JUNCTION CREEK DEPOSIT, LONNIE & VIRGIL DEPOSIT and ARTILLERY PEAK DEPOSIT in Canada. American Manganese is listed in Canada. Its market capitalisation is CA$ 21.8 millions as of today (US$ 16.0 millions, € 14.9 millions). Its stock quote reached its lowest recent point on April 01, 2016 at CA$ 0.01, and its highest recent level on February 19, 2021 at CA$ 2.86. American Manganese has 140 880 000 shares outstanding. |