Business & Finance
Business and Finance
Business and Finance
Wed, June 23, 2010 American Manganese Reports Large Thicknesses of Manganese Mineralization
VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 23, 2010) - 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 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.
See the drill plan map at: [ http://media3.marketwire.com/docs/amy622.jpg ]
2010 DRILL PROGRAM
| Artillery Drill Hole Assay Summary | ||||||
| HOLE | FROM ft | TO ft | FROM m | TO m | Interval m (ft) | Interval Grade %Mn |
| AP10-38* | 235 | 395 | 71.62 | 120.40 | 48.78 (160) | Low grade mineralization |
| AP10-39 | 150 | 165 | 45.72 | 50.29 | 4.57 (15) | 1.49 |
| AP10-39 | 175 | 285 | 53.34 | 86.87 | 33.53 (110) | 2.39 |
| Including | 175 | 195 | 53.34 | 59.44 | 6.10 (20) | 4.40 |
| AP10-39 | 300 | 310 | 91.44 | 94.49 | 3.05 (10) | 1.26 |
| AP10-40 | 255 | 270 | 77.73 | 82.30 | 4.57 (15) | 2.01 |
| AP10-41* | 205 | 370 | 32.00 | 112.78 | 80.78 (265) | Low grade mineralization |
| AP10-42 | 120 | 125 | 36.50 | 38.10 | 1.52 (5) | 2.75 |
| AP10-42 | 155 | 165 | 47.24 | 50.29 | 3.05 (10) | 1.66 |
| AP10-42 | 170 | 185 | 51.82 | 56.39 | 4.57 (15) | 1.16 |
| AP10-42 | 395 | 400 | 120.40 | 121.92 | 1.52 (5) | 2.39 |
| AP10-43 | 145 | 155 | 44.20 | 47.25 | 3.05 (10) | 1.12 |
| AP10-43 | 195 | 210 | 59.44 | 64.01 | 4.57 (15) | 6.36 |
| Including | 200 | 205 | 60.96 | 62.48 | 1.52 (5) | 11.75 |
*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."
About Manganese
- 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
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.
