11:43 AM EDT, 05/27/2024 (MT Newswires) -- Electric Metals (USA) ( EMUSF ) filed Monday an NI 43-101 technical report on the upgraded resource estimate for the Emily manganese project in Minnesota, "confirming the highest grade manganese resource in North America."

A statement noted, at a 10% cutoff grade, indicated resources increased 20.9% to 6.2 million tonnes grading 19.27% manganese. Inferred resources jumped 596.5% to 4.9 million tonnes grading 17.50% manganese at the same cutoff grade.

Monday's statement also noted large tonnage expansion associated with eastern in-fill and central step-out drill holes, the western zone of the deposit remains open and is recommended for expansion; 29 new holes drilled, 22 of which reported substantial zones of +25% manganese, and 19 new drill holes reported significant intercepts of 35% to +50% manganese; and urrent manganese extractions exceeding 95% recovery, with testing ongoing.

"Our plan going forward is to convert these resources into high-grade mineable reserves, and to advance the metallurgical testing to refine and optimize the flow sheet for the production of high-value, high-grade manganese chemicals and products," chief executive Brian Savage said.

The company's shares were last seen up $0.015 to $0.14 on the TSX Venture Exchange.

Price: 0.14, Change: +0.02, Percent Change: +12.00