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.