MGX Announces Drilling at Kibby Basin, Nevada Lithium Brine Project

CSE:XMG, MGX Minerals, lithium,

MGX Minerals Inc. (“MGX” or the “Company”) (CSE: XMG / FKT: 1MG / OTCQB: MGXMF) is pleased to announce that drilling has  commenced at the Kibby Basin, Nevada lithium brine property (“Kibby Basin” or the “Property”). The drill program is being conducted by Harris Exploration Drilling & Associates Inc. (“Harris”). Harris has extensive experience drilling Clayton Valley lithium brines.  Clayton Valley is the home of Abermarle’s Silver Peak Mine, the only US lithium producer and is located 50km to the South of the Kibby Basin. Eight drill targets were generated based on results from a Quantec MT geophysical survey completed in January. The proposed drill holes are designed to test a large MT conductor which may represent aquifers containing lithium brines. The drill holes have been designed to intercept the MT anomaly starting at depths of 325 m (1065 ft.) and continue to as deep as 760 m (2500 ft.). The objective is to determine the nature of the conductor, collect sediment samples for lithium analyses, identify aquifers and sample water and any brines encountered.[...] read more

MGX Minerals Announces Mobilization for Drilling at Kibby Basin, Nevada Lithium Brine Project

CSE:XMG, MGX Minerals, lithium,

MGX Minerals Inc. (“MGX” or the “Company”) (CSE: XMG / FKT: 1MG / OTCQB: MGXMF) is pleased to announce the engagement of Harris Exploration Drilling and Associates Inc. (“Harris Drilling”) for drilling on the Kibby Basin, Nevada lithium brine property (“Kibby Basin” or the “Property”).  MGX is partnered with Belmont Resources (TSX-V: BEA) on the Property and is currently earning a 50% interest for the purpose of forming a 50/50 Joint Venture (the “Joint Venture”) utilizing MGX’s rapid lithium extraction technology.  Drill hole targets were generated based on results from the Quantec MT geophysical survey completed in January. The proposed drill holes are designed to test a large MT conductor, which may represent aquifers containing lithium brines. The drill holes have been designed to intercept the MT anomaly starting at depths of 325 m (1065 ft.) and continue to as deep as 760 m (2500 ft.). The objective is to determine the nature of the conductor, collect sediment samples for lithium analyses, identify aquifers and sample water and any brines encountered.[...] read more

MGX Minerals Announces Nevada Lithium Brine Project JV with Belmont Resources; Drilling to Commence at Kibby Basin, NV

CSE:XMG, MGX Minerals, lithium,

MGX Minerals Inc. (“MGX” or the “Company”) (CSE:XMG) (FKT:1MG) (OTCQB:MGXMF) is pleased to announce it has entered into a Property Option Agreement (the “Agreement”) with Belmont Resources (TSX.V:BEA) (FKT:L3L1) (“Belmont”) to acquire an initial 25% interest in the Kibby Basin, Nevada lithium brine property (“Kibby Basin”), approximately 50km North of Clayton Valley, NV. MGX will fund up to C$300,000 in exploration expenditures, to be used for drilling in the Kibby Basin. The target area is a large well-defined anomaly discovered by a magnetotelluric survey carried out by Belmont in January 2018. The Agreement allows MGX to earn an additional 25% interest in Kibby Basin property by funding an additional C$300,000 in exploration expenditures for drilling at which time the project will become a 50/50 Joint Venture with access to MGX’s rapid lithium extraction technology.[...] read more

Rye Patch Gold Appoints Financial Advisors

V.RPM, Rye Patch Gold, gold, Nevada

Rye Patch Gold Corp. (“Rye Patch” or the “Company“) (TSX.V: RPM; OTCQX: RPMGD; FWB: 5TNN) announces that Capital West Partners have been selected as financial advisors to the Special Committee of the Board of Directors. The Company had previously announced (news release dated January 17, 2018) the appointment of a Special Committee comprised of all of the independent directors of the Company to conduct a strategic review process and to make recommendations to the Board arising from the review process. Capital West Partners has undertaken to complete a review of all strategic alternatives for recommendation to the Special Committee and deliver a report containing their analysis, findings and recommendations. [...] read more

Rye Patch Gold Corp. Announces $15 Million Bought Deal Private Placement; Establishes Strategic Review Process

V.RPM, Rye Patch Gold, gold, Nevada

Rye Patch Gold Corp. (Rye Patch” or the “Company“) (TSX.V: RPM; OTCQX: RPMGD; FWB: 5TN) is pleased to announce that it has entered into an agreement with PI Financial Corp., as lead underwriter on behalf of a syndicate of underwriters (collectively, the “Underwriters“), under which the Underwriters have agreed to purchase, on a bought deal private placement basis 11,538,500 units (the “Units“) of the Company at a price of $1.30 per Unit, for aggregate gross proceeds of $15,000,050 (the “Offering“). Each Unit will be comprised of one common share and one transferable common share purchase warrant (a “Warrant“). Each Warrant will entitle the holder thereof to acquire one common share of Rye Patch at a price of $1.65 for a period of 24 months following the closing of the Offering. [...] read more

Rye Patch Gold Announces Share Consolidation

V.RPM, Rye Patch Gold, gold, Nevada

Rye Patch Gold Corp. (Rye Patch” or the “Company“) (TSX.V: RPM; OTCQX: RPMGF; FWB: 5TN) announces that the TSX Venture Exchange (the “TSX-V”) has approved a proposed share consolidation by the Company (the “Share Consolidation”) on the basis of one (1) post-consolidation common share for every 6.5 pre-consolidation common shares. [...] read more

Rye Patch Gold Completes 2017 Principal Repayments on its Credit Facility

V.RPM, Rye Patch Gold, gold, Nevada

VANCOUVER, Jan. 3, 2018 /CNW/ – Rye Patch Gold Corp. (TSX.V: RPM; OTCQX: RPMGF; FWB: 5TN) (the “Company” or “Rye Patch”) reports that in December, 2017, the Company completed its US$4.0 million principal repayment and paid US$609,000 in interest pursuant to its credit agreement with Macquarie Bank Limited. An aggregate of US$5.1 million in principal repayments was made in 2017, reducing the outstanding principal balance to US$21.8 million. The credit facility was used in the construction and re-start of the Company’s flagship Florida Canyon mine in Pershing County, Nevada.[...] read more