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Eclipse Metals’ shares surge higher as it prepares to drill priority manganese targets

Published: 11:36 05 Dec 2017 AEDT

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Manganese is a critical ingredient in the booming battery market

Eclipse Metals Ltd’s (ASX:EPM) share price has increased 280% since mid-October to $0.19 as it prepares to drill the Amamoor and Eel Creek manganese prospects in the Mary Valley Project in Queensland.

The company has an opportunity to start the drilling program at Mary Valley during the week commencing 11 December 2017 subject to weather conditions.

Eclipse has defined drilling targets based on a combined analysis of geological and geophysical data, particularly results from gravimetric surveys conducted earlier in 2017.

On-site checking of anomalous geophysical gravity survey results determined that there are significant extensions to known mineralisation, in particular at Amamoor and Eel Creek prospects.

Importantly, metallurgical tests on bulk samples indicate that mining these deposits has a potential to produce manganese as direct shipping ore (DSO).

The samples graded up to 40% manganese with concentrate phosphorous contents acceptably low, below the 0.2% limit generally imposed.

Overall, the results to date have increased the potential for DSO manganese production in Mary Valley.

READ: Eclipse Metals sees manganese direct shipping ore opportunity

Historically, circa 32,000 tonnes of ore has been mined from the area with a manganese grade ranging from 42% to 51% manganese.

Eclipse will now wait for the results from the planned drilling program for confirmation of manganese mineralisation at depth.

Manganese is a critical ingredient in the booming battery market due to its use in lithium-ion cathodes.

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