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MGX Minerals Inc. (“MGX” or the “Company”) (CSE: XMG / OTCQB: MGXMF / FKT: 1MG) is pleased to announce the engagement of Erich Schnake, former Chilean Mining Ministry Undersecretary, to its South American management team. Mr. Schnake will provide legal and regulatory support to advance the Company’s efforts in navigating Chilean regulatory permitting frameworks in order to obtain production permits.
MGX Minerals Inc. (“MGX” or the “Company”) (CSE: XMG / OTCQB: MGXMF / FKT: 1MG) reports that joint-venture partner A.I.S. Resources (“A.I.S.”) (TSX.V: AIS) has announced completion of the first TEM (Transient Electromagnetic Survey) geophysics profile at the Salinitas JV Project (the “Project”) in the Salinas Grandes Salar, Salta Province, Argentina. The TDEM geophysical survey was conducted across 52 stations at 500-meter spacings totaling approximately 26 kilometers. Interpretation of the first profile suggest that potentially substantial aquifers exist over a 3 km x 2km x 180m depth area.
Millennial Lithium Corp. (TSXV: ML) (FSE: A3N2) (OTCQB: MLNLF) (“Millennial” or the “Company”) is pleased to announce that there has been significant progress on its flagship Pastos Grandes Project in Salta, Argentina. Millennial has initiated numerous studies in support of its ongoing basic engineering and Feasibility Study recently initiated by WorleyParsons Chile.
Farhad Abasov, President and CEO of Millennial Lithium (V.ML), has experience with shifting markets for the resource he’s looking for. As the President and CEO of Allana Potash, as he explored in Ethiopia for potash, he watched as the entire potash market changed in a couple of years. Now he is watching the lithium marketplace gyrate as his company explores for lithium in Argentina.
Advantage Lithium Corp. (the “Corporation” or “Advantage Lithium”) (TSX Venture: AAL) (OTCQX: AVLIF) is pleased to announce the results of its Preliminary Economic Assessment (“PEA”) for the production of Lithium Carbonate from a 20ktpa capacity stand-alone plant located at its Cauchari Joint-Venture project (“Cauchari JV”) in the province of Jujuy, Argentina. The PEA was prepared by WorleyParsons Chile S.A. (“Worley Parsons”), a leading integrated independent engineering services firm with extensive experience in the design and construction of Lithium brine projects in Argentina and Chile.
MGX Minerals Inc. (“MGX” or the “Company”) (CSE: XMG / OTCQB: MGXMF / FKT: 1MG) is pleased to report completion of the previously announced Time Domain Electromagnetic (TDEM) survey at the Salinitas lithium brine project (the “Project”) located in the Salinas Grande Salar of northwest Argentina. The TDEM geophysical survey was conducted across 52 stations at 500 meter totaling approximately 26 kilometers. Data compilation is underway and interpretation is expected to begin shortly. Based on interpretation of the TDEM data, the Company is now preparing to carry out trenching as well as an auger drilling program to test for shallow, near surface brines that contain anomalous concentrations of lithium and other elements correlated with geophysics in preparation for definition of drill targets.
MGX Minerals Inc. (“MGX” or the “Company”) (CSE: XMG / FKT: 1MG / OTCQB: MGXMF) is pleased to announce the engagement of Quantec Geoscience (“Quantec”) to complete a Time Domain Electromagnetic (TDEM) survey on the Salinitas lithium brine project (the “Project”) in the Salinas Grande Salar of northwest Argentina. MGX has partnered with A.I.S. Resources (TSX.V: AIS) on the Project and is currently earning an 80% interest. The TDEM geophysical survey will be conducted along 52 stations spaced in 500 meter intervals across the edge of the salar to test for shallow, near surface brines to determine locations with anomalous concentrations of lithium.
Advantage Lithium Corp. (the “Corporation” or “Advantage Lithium”) (TSX Venture: AAL) (OTCQX: AVLIF) is pleased to announce that it has closed its previously announced financing and has issued 15,585,956 common shares (the “Common Shares”) for aggregate gross proceeds to Advantage Lithium of C$12,001,186 (the “Private Placement”). Jett Capital Advisors, LLC, pursuant to an agency agreement, will be paid a cash commission of 6% on a portion of the gross proceeds from the Private Placement.
MGX Minerals Inc. (“MGX” or the “Company”) (CSE:XMG) (FKT:1MG) (OTCQB:MGXMF) is pleased to announce it has entered into an Option Agreement (the “Agreement”) with A.I.S. Resources (TSX.V:AIS) to acquire an 80% interest in the Salinitas lithium brine mining tenements (“Salinitas” or the “Project”) located in the lithium triangle of Argentina, Salar de Salinas Grandes, Province of Salta. The 4,308-hectare contiguous land package resides in the Puna region of northwest Argentina near the border of Chile, an area renowned for its lithium and potassium rich brine resources.
Advantage Lithium Corp. (the “Corporation” or “Advantage Lithium”) (TSX Venture: AAL) (OTCQX: AVLIF) is pleased to announce that it has arranged a private placement (the “Private Placement“) of 15,585,000 common shares (“Common Shares“) of Advantage Lithium at a price of $0.77 per Common Share for gross proceeds of $12,000,450. The Corporation also reports that subscribers have been identified to fill the placement. Advantage Lithium will use the proceeds from the Private Placement for general working capital and to fund continued development and exploration activities on its Lithium properties in Argentina. The Common Shares issued pursuant to the Private Placement will be subject to a four month hold period from the date of closing.