Accelerate Resources actions new strategy focused on high-value manganese

Accelerate Resources Ltd (ASX:AX8) (ASX:AX8) has executed a strategy focused on high-grade and high-value manganese and is about to begin the exploration of its new East Pilbara assets in Western Australia. The company has entered into a binding option agreement with Pardoo Resources Pty Ltd and Great Sandy Pty Ltd to acquire the manganese and iron ore rights on Ripon Hills East and Braeside West projects in the East Pilbara Manganese Field. These projects are 120 kilometres east of Marble Bar, within 70 kilometres of the tier-one high-grade historic Woodie Woodie Manganese Mine and only 250 kilometres from Port Hedland. “Critical for battery and steel production” Accelerate managing director Yaxi Zhan said “We are excited by the opportunity to explore within a world-class region for high-grade manganese, a critical mineral for battery and steel production with forecast demand shortfalls. “This timely, high-value strategy is in a proven yet underexplored area with excellent infrastructure and we believe there is significant opportunity for new discoveries.” Braeside West and Ripon Hills East manganese prospects. High probability for supply disruption The steel industry is poised to continue growing and is providing a steady source of demand for manganese, which is a critical element used in steel production. In addition, manganese is also an increasingly critical link in the lithium-ion battery supply chain and has been added to the strategic minerals stockpile along with cobalt, chrome and molybdenum. As demand for clean energy applications arises, high purity manganese (HPM) is used as a cheaper substitute for cobalt in nickel-cobalt-manganese (NCM) battery cathodes. Moreover, there is a high probability of supply disruption from South African production and the wind-down of dominant Northern Territory Groote Eyland manganese operations. Therefore, high-grade deposits capable of producing lump or fines product with grades in excess of 40% of manganese are critical in steel and battery market supply chains. Zhan added: “The company intends to commence prospect definition and fieldwork immediately to define initial drill targets for evaluation.” High grades at Braeside West The Braeside West Prospect covers 139 square kilometres is about 80 kilometres from the Woodie Woodie Mine that saw 41 manganese deposits mined since 1950 with an average deposit size of 500,000 tonnes grading 40% manganese. The prospect is also directly south and along strike of the Baramine (high-grade) manganese mineral occurrences, identified by Shaw River Manganese Limited from 2010-2014. Shaw River identified replacement-style manganese mineralisation as well as Woodie Woodie-style high-grade mineralisation with drilling activity close to the northern boundaries of the project area. The tenement has undergone several exploration phases including work consisting of geological mapping, rock chip sampling, VTEM geophysics and drilling. In all cases, manganese mineralisation was identified and Accelerate will look to reprocess that data, ground truth geological finding and validate all data once the application is granted. Little Ripon Hills East exploration Ripon Hills East is about 70 kilometres northwest of the Woodie Woodie deposit and immediately east of the Ripon Hills deposit that hosts a non-JORC compliant resource of 12 million tonnes at 24.6% manganese and 23% iron. The project covers 48 square kilometres and records indicate very little historic exploration within the licence area, despite the presence of favourable Woodie Woodie north-south structures and mappable surface manganese mineralisation. After a thorough review, the company will seek to identify replacement-style manganese mineralisation as well as additional Woodie Woodie-style structures for deeper and potentially higher-grade mineralisation. Fieldwork will begin immediately to define drill targets.