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- Accelerate Resources (AX8) executes an agreement to acquire 100 per cent of the East Pilbara Barramine Manganese Project
- The project has been subject to more than 27,000 metres of reverse circulation drilling with previous grades peaking at 213.6 per cent manganese
- Accelerate will aim to define manganese resources at Barramine to justify further investment in a possible future commercial mining operation
- Accelerate is continuing to strengthen its team with the appointment of Dr Steve Bodon as Non-Executive Director and Dr Joseph Drake-Brockman as Senior Technical Advisor
- Shares in Accelerate are up 9.5 per cent, trading at 4.6 cents
Accelerate Resources (AX8) has executed an agreement to acquire 100 per cent of the East Pilbara Barramine Manganese Project.
Upon completion, Accelerate will control a 33 kilometre long corridor prospective for manganese mineralisation with access to roads and port.
Further, it will expand the company’s strategic footprint in the region to 357.7 square kilometres.
The Barramine Project has been subject to 27,478 metres of reverse circulation (RC) drilling which targeted manganese outcrops and electromagnetic anomalies.
Previous drilling results include 10 metres at 19.4 per cent manganese from 10 metres including six metres at 213.6 per cent manganese from 12 metres, and 15 metres at 24.3 per cent manganese from 37 metres including three metres at 39.3 per cent manganese.
Accelerate will aim to define manganese resources at Barramine to justify further investment in a possible commercial mining operation.
Upcoming activities include merging databases to maximise exploration potential, follow up exploration drilling, exploration data review and verifying historical data.
“We are excited by the opportunity to acquire the Barramine high-quality manganese asset to add to the company’s existing high-grade manganese project portfolio in the Pilbara region,” Managing Director Yaxi Zhan said.
“The merger of the contiguous Barramine and Braeside West manganese projects will fast-track the company in becoming a significant player in the manganese space with the clear objective of developing mineral resources and operations in this world-class manganese province.”
Accelerate is continuing to strengthen its team with the appointment of Dr Steve Bodon as Non-Executive Director and Dr Joseph Drake-Brockman as Senior Technical Advisor.
Dr Bodon has strong technical and business leadership skills, previously working with the likes of Anglo American and Sasol.
Dr Drake-Brockman has extensive experience in early-stage manganese exploration and has worked with international manganese producers such as Jupiter, OM Holdings and Eramet.
Shares in Accelerate were up 9.5 per cent to 4.6 cents at the close.
