PERTH-based manganese exploration company Eclipse Metals has posted another optimistic stock exchange report on what it is finding in the Mary Valley, particularly near Amamoor.
Eclipse has been testing soil over more than 200sq km for the past year, from Kenilworth to Langshaw, Mary's Creek and Eel Creek.
The company's third phase of exploration has revealed potential for the historic Amamoor mine site to host high enough levels of the metal to making mining viable, the report indicates.
Executive chairman Carl Popal said shallow exploration beneath and adjacent to the old working appeared to contain more than 37,000 tonnes of manganese grading up to 52% to less than 15m deep.
This was the first time high grade manganese had been geologically mapped, he said.
Manganese was once a significant mining activity in the Valley, with more than 31,000 tonnes of ore grading 42% to 51% manganese mined in the 1920s and 1960s.
Until the recent exploration, the tenements were untouched for half a century.
Old waste dumps and stockpiles could provide bulk samples and possibly saleable ore to evaluate potential for full-scale mining, Mr Popal said.
Based on a Cuban style model, the potential resource of manganese mineralisation available at Amamoor could be significantly higher.
"The board is pleased to have received such positive confirmation of potentially minable manganese mineralisation, having a potential commercial value greater than the current market cap of the whole company," Mr Popal said.
"The company's outstanding uranium projects in NT, combined with the exciting Mary Valley Manganese project, need commercial evaluation to build on the current positive technical interpretation."
The historical Amamoor Manganese Mine workings are on the top and eastern side of a ridge mostly composed of volcanic rock.