Eclipse Metal (ASX:EPM) has resumed trading today after revealing a new manganese discovery at its Mary Valley project in Queensland.
Field examination has observed a 13 square kilometre area to host previously unknown mineralisation in an area between the Mt Mooloo and Eel Creek manganese prospects.
Shares in the company had soared from $0.003 to a high of $0.011 in the days leading up to the trading halt.
Amamoor Ridge with its manganese deposits and old workings has a strike length of over 2 kilometres and width of 400 metres trending north-northwest towards the Mt Mooloo and Eel Creek mined areas in an almost continuous straight line.
Examination has identified two distinct mined zones within the Mary Valley tenements which may represent an extensive strata-bound body of manganese mineralisation between elevations of 120 metres and 280 metres.
Stronger manganese mineralisation was observed to be closely associated with more deformed and sheared/faulted zones.
Eclipse collected and despatched 21 rock chip samples from various locations, which are now awaiting assay.
Notably, just 12% of the tenement area has been briefly explored.
Mary Valley Manganese Project
The Mary Valley Manganese Project is located 14 kilometres by road southwest of Gympie township and just 175 kilometres from Brisbane.
Based on the historical high grade ore mined within the Mary Valley manganese area, the grades of manganese and silica levels fall within the DSO parameters for saleable manganese ore.
Historically, the two exploration permits have yielded over 31,000 tonnes of high grade direct shipping ore manganese with assays of 39.5 to 51% from mining operations carried out during the 1920's and 1960's.
In the past 50 years little to no geological activity has been recorded.
Eclipse remains modestly capitalised at around $6 million.
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