Larry W. Reaugh, President and Chief Executive Officer of American Manganese Inc., (TSX.V: AMY; OTCQB: AMYZF) (“American Manganese” or the “Company”) is pleased to report the Company has received results for drill hole numbers 38 – 43 which are located on the North Maggie zone of the Manganese Mesa, from its on going Artillery Peak drilling program. Results for drill holes 1 through 37 have been announced previously.
The mineralization at Artillery Peak Mohave County, Arizona takes the form of paleo-alluvial fans spreading out down slope from a number of source vents.
Up to and including hole number AP10-43, 3,629 meters (11,905 ft) has been drilled in 43 holes and the significant results from holes 38 – 43 are shown in the following table.
2010 DRILL PROGRAM
|Artillery Drill Hole Assay Summary|
|AP10-38*||235||395||71.62||120.40||48.78 (160)||Low grade mineralization|
|AP10-41*||205||370||32.00||112.78||80.78 (265)||Low grade mineralization|
*Delineates northern fringe of the Maggie Zone.
Assays were performed by ALS Chemex in Sparks, Nevada. Further results will be reported as they are received.
Mr. Reaugh states: “These results demonstrate the character and continuity of the mineralized horizon; both of which tend to favor low cost open pit bulk mining development scenarios.”
- China controls electrolytic manganese production (EMM) supplying and producing 97.44% of the worlds needs (2.6 billion pounds per year).
- There is no substitution for manganese in steel (total manganese market greater than 30 billion pounds per year, fourth largest traded metal).
- The most critical metal at risk to supply and restriction in the United States. No US production.
- EMM’s greatest uses are upgrading specialty steel 47%, manufacture of aluminum 32% and electronics 14%.
- China has a 20% export duty on EMM and the US has a 14% import duty, world price is $1.22/lb. and US price is $1.55/lb.
- Manganese resources are declining in China.
- 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