The company said it will be exploring for cobalt and possible
gold-platinum-palladium at the eastern Canada property. By December
2018, it has to invest at least $150,000 in exploration to be able to
earn 40 per cent interest in the property.
In a media statement, the miner explained that Peter Lake consists of
34 claims totalling 1985 hectares and lies within a sequence of
metasedimentary rocks intruded by gabbroic and felsic to mafic
intrusions.
According to Manganese X, two copper-nickel-cobalt occurrences known
as Peter Lake North and Peter Lake South are included within the
property and previous grab sampling returned values ranging from 0.4% to
22.8% copper, 0.14% to 0.73% nickel, 500 ppm to 0.266% cobalt, as well
as elevated gold and silver.
"Also worth noting is that the Peter Lake Property situated
approximately 20 kms south of Kintavar Exploration Inc`s Mitchi Project
is where Kintavar recently announced significant new copper, silver, and
gold mineralization," the Pointe-Claire-based firm said in the brief.