American Manganese Inc. (CVE:AMY) reports that a new NI 43-101 compliant resource estimate incorporating the results of the 2011 drilling program shows a substantial increase in the amount of manganese contained in the Artillery Peak project.
The press release is quoted as saying:
The 2011 drilling program included 84 reverse circulation drill holes totaling 10,607 meters (34,800 feet) on Manganese Mesa, Burro, and Shannon patented claims of the property. The 2011 drilling program can best be categorized as fill-in drilling with a limited amount of step-out drilling. This has resulted in an up-grading of a large proportion of the resource from Inferred to Indicated. The step out drilling has resulted in a 41% increase of the overall tonnage and a 19% increase in the contained pounds of Mn.
American Manganese’s President and CEO, Mr. Larry W. Reaugh says:
“I am extremely pleased with the results. Not only has the amount of contained Mn metal increased by 19%, but also the amount of the metal resource in the Indicated category has increased by 123% from the previous estimate. These results support our belief in the character and quality of the Artillery Peak Deposit, and there is a lot more ground to explore to expand the resource further.” ”the Chinese Government has been cracking down on smuggling of EMM through Vietnam thereby creating shortages and price increases in the European market.”