PFE Completes Manganese Drilling - Visuals Identified

Published 14-NOV-2022 11:34 A.M.

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Our junior exploration Investment Panteral Mineras (ASX:PFE) just completed its 965m RC drilling campaign for manganese at Weelarrana, WA.

Drilling confirmed that manganese mineralisation continued over 800m of strike, with mineralisation open to the North, East and West.

Semi-massive to massive manganese shale was identified, this is the exact type of manganese that we were hoping for PFE to discover, and it has a visually estimated 20-50%+ Mn grade.

Again, these are only visual estimates, and assay results will be the only way to confirm the results.

Assays are due in December.

PFE has already confirmed the deposit is open in three directions, so this result is indicative of something closer to our Bull Case:

Bull Case: Mn grades of 20%; deposit open in at least one direction
Base Case: Mn grades of 8-15% in line with Element 25’s manganese deposit
Bear Case: No manganese (or trace manganese) found in assays.

What’s Next?: Assays for this drilling program. PFE will secure permits to drill manganese areas 2-4 once and conduct further infill drilling on area 1 to support a resource estimate.