American Manganese Inc.: Artillery Peak Manganese Project Reports Higher Grade Manganese Within Thick Sections of Manganese Included in Latest 14 Drill Holes
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 06/27/11 -- Larry W. Reaugh, President and Chief Executive Officer of American Manganese Inc. (TSX VENTURE: AMY)(PINK SHEETS: AMYZF) ('American Manganese' or the 'Company') is pleased to report the Company has received results for the following 14 drill holes from its 2011 Artillery Peak drilling program. The results for first 6 drill holes have been previously announced on June 7, 2011.
The Company initiated this drilling program on April 20, 2011 and was completed on June 17, 2011. It was performed using reverse circulation drilling techniques as the mineralization is disseminated and uniform. The reverse circulation drilling is more economic than core drilling and will provide the information needed to evaluate the deposit. A total of 10,607 meters (34,800 ft) was drilled in 86 drill holes.
Mr. Reaugh states that, 'We are very pleased with the results of the first 20 holes. We are closing information gaps and increasing the amount of known mineralization on the patented claims along the northeast flank of Manganese Mesa. The extensive mineralization at Artillery Peak occurs within sedimentary beds taking the form of paleo-alluvial fans spreading out down slope from a number of source vents. The mineralized intersections continue to demonstrate the expected lateral continuity over good widths, augmented by local higher grade intersections.'
The significant mineralized intersections for the following 14 drill holes are presented in the below.
2011 DRILL PROGRAM
---------------------------------------------------------------------------
FROM TO FROM TO INTERVAL INTERVAL GRADE
HOLE (feet) (feet) (meters) (meters) (meters) (feet) (%Mn)
---------------------------------------------------------------------------
AP11-58 35 50 10.67 15.24 4.57 15 1.15
---------------------------------------------------------------------------
55 85 16.77 25.91 9.15 30 1.65
---------------------------------------------------------------------------
90 190 27.44 57.93 30.49 100 2.81
---------------------------------------------------------------------------
Including 110 115 33.54 35.06 1.52 5 3.57
---------------------------------------------------------------------------
Including 120 125 36.59 38.11 1.52 5 3.41
---------------------------------------------------------------------------
Including 140 145 42.68 44.21 1.52 5 4.35
---------------------------------------------------------------------------
Including 150 155 45.73 47.26 1.52 5 3.85
---------------------------------------------------------------------------
Including 165 185 50.30 56.40 6.10 20 5.23
---------------------------------------------------------------------------
210 235 64.02 71.65 7.62 25 2.55
---------------------------------------------------------------------------
Including 215 220 65.55 67.07 1.52 5 3.64
---------------------------------------------------------------------------
240 255 73.17 77.74 4.57 15 1.18
---------------------------------------------------------------------------
---------------------------------------------------------------------------
AP11-60 25 40 7.62 12.20 4.57 15 2.55
---------------------------------------------------------------------------
Including 35 40 10.67 12.20 1.52 5 5.44
---------------------------------------------------------------------------
45 55 13.72 16.77 3.05 10 3.57
---------------------------------------------------------------------------
---------------------------------------------------------------------------
AP11-61 No Assays Available
---------------------------------------------------------------------------
---------------------------------------------------------------------------
AP11-62 0 30 0.00 9.15 9.15 30 3.97
---------------------------------------------------------------------------
Including 0 10 0.00 3.05 3.05 10 4.38
---------------------------------------------------------------------------
Including 20 30 6.10 9.15 3.05 10 5.43
---------------------------------------------------------------------------
---------------------------------------------------------------------------
Ap11-63 25 30 7.62 9.15 1.52 5 1.01
---------------------------------------------------------------------------
50 55 15.24 16.77 1.52 5 1.18
---------------------------------------------------------------------------
75 100 22.87 30.49 7.62 25 3.07
---------------------------------------------------------------------------
Including 75 80 22.87 24.39 1.52 5 3.64
---------------------------------------------------------------------------
Including 85 95 25.91 28.96 3.05 10 3.93
---------------------------------------------------------------------------
110 120 33.54 36.59 3.05 10 2.37
---------------------------------------------------------------------------
Including 115 120 35.06 36.59 1.52 5 3.40
---------------------------------------------------------------------------
125 130 38.11 39.63 1.52 5 1.14
---------------------------------------------------------------------------
---------------------------------------------------------------------------
AP11-64 No Assays Available
---------------------------------------------------------------------------
---------------------------------------------------------------------------
AP11-65 70 80 21.34 27.44 6.10 20 1.63
---------------------------------------------------------------------------
100 115 30.49 35.06 4.57 15 2.62
---------------------------------------------------------------------------
Including 100 105 30.49 32.01 1.52 5 3.50
---------------------------------------------------------------------------
120 125 36.59 38.11 1.52 5 0.97
---------------------------------------------------------------------------
---------------------------------------------------------------------------
AP11-66 15 45 4.57 13.72 9.15 30 1.32
---------------------------------------------------------------------------
80 135 24.39 41.16 16.77 55 2.34
---------------------------------------------------------------------------
Including 95 105 28.96 32.01 3.05 10 4.42
---------------------------------------------------------------------------
140 145 42.68 44.21 1.52 5 1.29
---------------------------------------------------------------------------
155 165 47.26 50.30 3.05 10 1.10
---------------------------------------------------------------------------
---------------------------------------------------------------------------
AP11-67 5 35 1.52 10.67 9.15 30 1.45
---------------------------------------------------------------------------
75 80 22.87 27.44 4.57 15 3.16
---------------------------------------------------------------------------
Including 75 80 22.87 24.39 1.52 5 5.31
---------------------------------------------------------------------------
100 115 30.49 35.06 4.57 15 3.68
---------------------------------------------------------------------------
Including 100 105 30.49 32.01 1.52 5 4.20
---------------------------------------------------------------------------
Including 110 115 33.54 35.06 1.52 5 4.60
---------------------------------------------------------------------------
130 135 39.63 41.16 1.52 5 0.92
---------------------------------------------------------------------------
155 160 47.26 48.78 1.52 5 0.93
---------------------------------------------------------------------------
---------------------------------------------------------------------------
AP11-68 230 275 70.12 83.84 13.72 45 1.95
---------------------------------------------------------------------------
Including 265 270 80.79 82.32 1.52 5 3.66
---------------------------------------------------------------------------
280 290 85.37 88.41 3.05 10 1.53
---------------------------------------------------------------------------
295 370 89.94 112.80 22.87 75 3.54
---------------------------------------------------------------------------
Including 305 335 92.99 102.13 9.15 30 6.07
---------------------------------------------------------------------------
375 390 114.33 118.90 4.57 15 1.62
---------------------------------------------------------------------------
445 470 135.67 143.29 7.62 25 2.43
---------------------------------------------------------------------------
Including 465 470 141.77 143.29 1.52 5 3.71
---------------------------------------------------------------------------
480 490 146.34 149.39 3.05 10 2.09
---------------------------------------------------------------------------
Including 485 490 147.87 149.39 1.52 5 3.14
---------------------------------------------------------------------------
---------------------------------------------------------------------------
AP11-69 110 120 33.54 36.59 3.05 10 1.01
---------------------------------------------------------------------------
130 135 39.63 41.16 1.52 5 1.31
---------------------------------------------------------------------------
140 185 42.68 56.40 13.72 45 2.02
---------------------------------------------------------------------------
Including 165 170 50.30 51.83 1.52 5 3.18
---------------------------------------------------------------------------
205 215 62.50 65.55 3.05 10 3.74
---------------------------------------------------------------------------
220 245 67.07 74.70 7.62 25 2.90
---------------------------------------------------------------------------
Including 225 240 68.60 73.17 4.57 15 3.42
---------------------------------------------------------------------------
250 260 76.22 79.27 3.05 10 1.18
---------------------------------------------------------------------------
270 285 82.32 86.89 4.57 15 1.32
---------------------------------------------------------------------------
295 310 89.94 94.51 4.57 15 3.30
---------------------------------------------------------------------------
Including 295 300 89.94 91.46 1.52 5 3.95
---------------------------------------------------------------------------
Including 305 310 92.99 94.51 1.52 5 4.25
---------------------------------------------------------------------------
---------------------------------------------------------------------------
AP11-70 20 60 6.10 18.29 12.20 40 2.89
---------------------------------------------------------------------------
Including 40 50 12.20 15.24 3.05 10 5.83
---------------------------------------------------------------------------
90 105 27.44 32.01 4.57 15 3.49
---------------------------------------------------------------------------
Including 90 100 27.44 30.49 3.05 10 3.83
---------------------------------------------------------------------------
110 120 33.54 36.59 3.05 10 2.02
---------------------------------------------------------------------------
Including 110 115 33.54 35.06 1.52 5 3.11
---------------------------------------------------------------------------
125 140 38.11 42.68 4.57 15 2.28
---------------------------------------------------------------------------
Including 125 130 38.11 39.63 1.52 5 3.99
---------------------------------------------------------------------------
145 155 44.21 47.26 3.05 10 1.65
---------------------------------------------------------------------------
---------------------------------------------------------------------------
AP11-72 10 115 3.05 35.06 32.01 105 2.98
---------------------------------------------------------------------------
Including 60 70 18.29 21.34 3.05 10 4.13
---------------------------------------------------------------------------
Including 75 90 22.87 27.44 4.57 15 8.95
---------------------------------------------------------------------------
Including 105 110 32.01 33.54 1.52 5 3.56
---------------------------------------------------------------------------
125 130 38.11 39.63 1.52 5 1.44
---------------------------------------------------------------------------
155 175 47.26 53.35 6.10 20 2.12
---------------------------------------------------------------------------
180 200 54.88 60.98 6.10 20 1.41
---------------------------------------------------------------------------
---------------------------------------------------------------------------
AP11-73 5 90 1.52 27.44 25.91 85 2.84
---------------------------------------------------------------------------
Including 45 55 13.72 16.77 3.05 10 3.90
---------------------------------------------------------------------------
Including 65 85 19.82 25.91 6.10 20 5.09
---------------------------------------------------------------------------
95 115 28.96 35.06 6.10 20 3.63
---------------------------------------------------------------------------
Including 95 110 28.96 33.54 4.57 15 4.33
---------------------------------------------------------------------------
125 140 38.11 42.68 4.57 15 1.10
---------------------------------------------------------------------------
---------------------------------------------------------------------------
AP11-74 240 250 73.17 76.22 3.05 10 4.80
---------------------------------------------------------------------------
260 290 79.27 88.41 9.15 30 2.66
---------------------------------------------------------------------------
Including 275 285 83.84 86.89 3.05 10 3.17
---------------------------------------------------------------------------
300 305 91.46 92.99 1.52 5 2.27
---------------------------------------------------------------------------
310 315 94.51 96.04 1.52 5 0.94
---------------------------------------------------------------------------
335 355 102.13 108.23 6.10 20 1.48
---------------------------------------------------------------------------
---------------------------------------------------------------------------
AP11-77 110 190 33.54 57.93 24.39 80 1.89
---------------------------------------------------------------------------
Including 175 180 53.35 54.88 1.52 5 3.31
---------------------------------------------------------------------------
205 260 62.50 79.27 16.77 55 3.06
---------------------------------------------------------------------------
Including 215 220 65.55 67.07 1.52 5 3.39
---------------------------------------------------------------------------
Including 230 240 70.12 73.17 3.05 10 6.09
---------------------------------------------------------------------------
Including 250 260 76.22 79.27 3.05 10 4.02
---------------------------------------------------------------------------
270 300 82.32 91.46 9.15 30 3.23
---------------------------------------------------------------------------
Including 275 285 83.84 86.89 3.05 10 3.11
---------------------------------------------------------------------------
Including 290 295 88.41 89.94 1.52 5 6.72
---------------------------------------------------------------------------
310 315 94.51 96.04 1.52 5 1.30
---------------------------------------------------------------------------
365 385 111.28 117.38 6.10 20 1.56
---------------------------------------------------------------------------
Assays were performed by ALS Chemex in Sparks, Nevada. Further results will be reported as they are received.
The current NI 43-101 compliant resource estimate of the Artillery Peak Manganese deposit includes an Indicated resource of about 92.8 million tonnes grading 3.27% Mn (6.7 billion lbs contain Mn), and an Inferred resource of about 107.2 million tonnes grading 3.76% Mn (8.9 billion lbs contained Mn).
About Manganese
China controls electrolytic manganese production (EMM) supplying and producing 98.44% of the world's needs (Production of 3 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 Norman L. Tribe, P.Eng., a qualified person pursuant to National Instrument 43-101.
On behalf of Management
AMERICAN MANGANESE INC.
Larry W. Reaugh, President and Chief Executive Officer
This news release may contain certain 'Forward-Looking Statements' within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time with the TSX-Venture Exchange, the British Columbia Securities Commission and the US Securities and Exchange Commission.
The TSX-Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Contacts:
American Manganese Inc.
Larry W. Reaugh
President and Chief Executive Officer
604-531-9639
604-531-9634 (FAX)
www.americanmanganeseinc.com