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MGX Minerals Inc. (“MGX” or the “Company”) (CSE: XMG / FKT: 1MG / OTCQB: MGXMF) is pleased to report additional drill results from its Fall 2018 drill program at the Fran Gold Property (“Fran” or the “Property”) in British Columbia, 30 kilometers southwest of the Mount Milligan Gold-Copper mine.
MGX Minerals Inc. (“MGX” or the “Company”) (CSE: XMG / FKT: 1MG / OTCQB: MGXMF) is pleased to announce that drilling will recommence shortly at its 100% owned Fran Gold Property (“Fran” or the “Property”) located 30km southwest of the Mount Milligan Gold-Copper Mine. Initial Winter 2018 drilling will drill a twin vertical hole to confirm and test below historic drill hole FR-027 from 2002. Hole FR-027 was drilled in the Hilltop Zone. Historic drill hole FR-027 assayed 13 meters of 3.76 g/t Au from 153.00m – 166.00m including 5.10 meters of 12.89 g/t Au and 18.70 g/t Au over 1.0 meter. Significant intercepts are shown in the table below (MacIntyre 2013):
MGX Minerals Inc. (“MGX” or the “Company”) (CSE: XMG / FKT: 1MG / OTCQB: MGXMF) is pleased to announce that its wholly owned subsidiary MGX Renewables, Inc. (“MGXR”) has entered the final phase of development for its next generation zinc-air mass storage systems. All components of the system have been designed, tooled and received with the exceptions of the fuel cell and regenerator plates which comprise the housings, and the final system enclosure. Housings are expected to arrive this month, followed by subsystem testing, this will be proceeded by system level testing in January. All components are designed for mass production. Many of the most sophisticated and proprietary components such as the cathode are manufactured in-house.
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 / FKT: 1MG / OTC: MGXMF) is pleased to announce, further to its news release dated November 23, 2018, it has closed the first tranche of its previously announced non-brokered private placement financing (the “Offering”).
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.