MGX Minerals Inc. (“MGX” or the “Company”) (CSE: XMG / FKT: 1MG / OTCQB: MGXMF) is pleased to provide an update regarding its previously announced arrangement agreement, dated October 31, 2018 with its wholly-owned subsidiary, MGX Renewables Inc. (formerly ZincNyx Energy Solutions Inc.) (“MGX Renewables”) whereby MGX will complete the spin-out of 40% of the common shares of MGX Renewables (“MGX Renewables Shares”) pursuant to a plan of arrangement (the “Plan of Arrangement”) under the Business Corporations Act (British Columbia).
MGX Minerals Inc. (“MGX” or the “Company”) (CSE: XMG / FKT: 1MG / OTCQB: MGXMF) is pleased to announce a discovery at the Fran Gold Property (“Fran” or the “Property”) in British Columbia, 30 kilometers southwest of the Mount Milligan Gold-Copper mine. Drill hole FR18-95 has returned a broad intercept from 227.0 to 241.0 meters of gold mineralization at depth in the Bullion Alley Gold Zone. This has confirmed extension of gold mineralization in auriferous veins from near surface to depth. The highest-grade gold mineralization was contained within a quartz-pyrite vein which averaged 21 g/t Au over 2.2m including 35.9 g/t Au across 0.76m and 26.70 g/t Au over 0.75m. The hole was drilled at an inclination of 55 degrees and depth of 314m. Drill data from the Fall 2018 drill program is currently being reviewed and correlated with the existing database of 87 previous drill holes.
MGX Minerals Inc. (“MGX” or the “Company”) (CSE: XMG / FKT: 1MG / OTCQB: MGXMF) is pleased to provide an update for its Gibraltar (“Gibraltar “) and Wonah (“Wonah”) silicon properties located in British Columbia. MGX is investigating the potential to source high-grade silica as a feedstock to be used in industrial silicon metal and solar silicon metal applications.
MGX Minerals Inc. (“MGX” or the “Company”) (CSE: XMG / FKT: 1MG / OTCQB: MGXMF) reports that joint venture partner Chilean Lithium Salars (“CLS”) has mobilized a drill to the Francisco Basin Project located 30 kilometres south of the Salar de Maricunga. The 5-hole drill program will target the Northern Lagoon, where samples in May of 2018 averaged 694mg/L Lithium. (see press release dated September 27, 2018). The drill program will test lithium mineralization to a depth of up to 300 meters as well as the lateral extent of lithium mineralization. The data will be used to define the hydrogeological model for the Francisco Basin.
MGX Minerals Inc. (“MGX” or the “Company”) (CSE: XMG / OTCQB: MGXMF / FSE: 1MG) reports that joint-venture partner A.I.S. Resources (“A.I.S.”) (TSX.V: AIS) has commenced drilling at the Salinitas lithium project (“Salinitas” or the “Project”) in Argentina. Samples recovered thus far from a 43-meter interval show a porous coarse sand which is conducive to the transmission of brines. The trenching program completed in October confirmed the presence of these porous sands. Resistivity of these sands is expected to be encountered at depth. The objective of the drill program is to test two geophysical anomalies generated from the previously completed TEM (Transient Electromagnetic Survey) survey. These anomalies represent potential aquifer structures based on interpretation of the geophysical profiles. Brines will be sampled down to 400m, with specific yield and other porosity tests. Subject to brine composition and flow rate, one well will commence a 30-day pump test.
MGX Minerals Inc. (“MGX” or the “Company”) (CSE: XMG / OTCQB: MGXMF / FSE: 1MG) is pleased to report that as of last week engineering partner PurLucid Treatment Solutions (“PurLucid”) had processed the first shipment of 40m3 of wastewater brine from an oilsands customer. The 5m3 system treated highly concentrated evaporator blowdown wastewater (“EBD”) and will provide significant cost savings for the customer. The system is currently operating at a 3rd party industrial location and the Company is pleased to report that the same steam assisted gravity drainage (“SAGD”) operator recently received an operating permit for the equipment from the Alberta Energy Regulator. A new 10m3 high temperature, high pressure system, is near completion and is expected to be deployed on site in January. The current 5m3 system will continue to operate and process water from customers. Additional systems are expected to be deployed approximately every other month through first and second quarter of 2019, with a significant acceleration of deployments thereafter.
MGX Minerals Inc. (“MGX” or the “Company”) (CSE: XMG / FKT: 1MG / OTCQB: MGXMF) and Highbury Energy Inc. (“Highbury”) are pleased to report completion of a comprehensive study analyzing beneficial gasification routes from Petroleum Coke (“Petcoke”) to three products of value: Hydrogen, FT Liquids and Fuel Gas. Each of these products has potential markets in the oil sands and heavy oil industry. The report outlines a variety and comparison of plant design parameters and a Petcoke-to-Hydrogen process with metals concentration via gasification, utilizing Highbury’s patented dual-bed gasification technology, which requires no fine grinding or air separation unit. The goal of ongoing joint research with Highbury is to develop fuel source alternatives and concentrated battery metals by-products including vanadium, nickel and cobalt, which can be seamlessly integrated into existing refinery operations. The study is viewed as positive and the project will now move to the demonstration plant design phase and preliminary pre-feasibility analysis.
MGX Minerals Inc. (“MGX” or the “Company”) (CSE: XMG / FKT: 1MG / OTCQB: MGXMF) is pleased to report the Company has increased its ownership stake in engineering partner PurLucid Treatment Solutions Inc. (“PurLucid”) to 60%. This ownership increase was recently approved by PurLucid shareholders under Phase V of the investment agreement through the issuance of 1,001,000 common shares of the Company (see press release dated January 25, 2018).
MGX Minerals Inc. (“MGX” or the “Company”) (CSE: XMG / FKT: 1MG / OTCQB: MGXMF) and engineering subsidiary PurLucid Treatment Solutions Inc. (“PurLucid”) are pleased to announce they have received notice of publication of its patent for a new method to produce boiler feed water using low energy water treatment. The technology will facilitate using poor quality water to tri-generate electricity, pure water and minerals. The system was designed within a consortium, including MGX, PurLucid and David Bromley Engineering Ltd for the generation of electricity and excess steam for thermal oil recovery and extraction of lithium, vanadium and other minerals. The design, utilizing highly charged Replaceable Skin Layer (RSL™) membranes as a replacement for softening and ultrafiltration, substantively reduced cost and energy requirements while providing electricity for sale or internal use.