MGX Minerals Files Mining Lease Application for Driftwood Creek Magnesium Deposit
22.12.2014 | Accesswire
VANCOUVER, BC / ACCESSWIRE / December 22, 2014 / MGX Minerals Inc. ("MGX" or the "Company") (CSE: XMG) is pleased to announce the Company has filed a mining lease application with the Mineral Titles Branch of the British Columbia Ministry of Energy and Mines ("MEM") for its Driftwood Creek magnesium deposit.The mining lease application is a formal request for the conversion of Mineral Tenures 511333 and 511335, comprising 265 contiguous hectares, into a mining lease. The Company was advised during discussions with MEM in November 2014 to place a priority on filing the mining lease with the Mineral Titles Branch, as review of the application may require the longest lead time of all components in the permitting process. While there is no fixed timeline for the process, review is expected to take a minimum of 8 months but will occur simultaneously on a parallel path with mine plan review and related permitting.
"MGX continues to take tangible steps towards rapidly moving from exploration to development at Driftwood Magnesium," stated CEO Jared Lazerson. "The development of a magnesite quarry for the purpose of producing magnesium oxide would open up significant business and employment opportunities in the sale and production of both basic magnesium oxide refractory materials as well as more advanced and value added products. MGX believes that the development of Driftwood Magnesium represents a corner stone in the building of a new advanced materials industry in the Province of British Columbia."
Shareholders can now view and download an updated 2014 topographic drill map for the East Zone at Driftwood Creek by clicking here.
About MGX Minerals
MGX Minerals (CSE: XMG) is a diversified Canadian mining company engaged in the acquisition and development of industrial mineral deposits in western Canada that offer near-term production potential, minimal barriers to entry and low initial capital expenditures. For more information please visit the Company's website at www.mgxminerals.com.
For further information please contact:
Jared Lazerson, Chief Executive Officer
MGX Minerals Inc.
Telephone: 604.681.7735
Email: jared@mgxminerals.com
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This press release contains forward-looking information or forward-looking statements (collectively "forward-looking information") within the meaning of applicable securities laws. Forward-looking information is typically identified by words such as: "believe", "expect", "anticipate", "intend", "estimate", "postulate" and similar expressions, or are those, which, by their nature, refer to future events. The Company cautions investors that any forward-looking information provided by the Company is not a guarantee of future results or performance, and that actual results may differ materially from those in forward-looking information as a result of various factors. The reader is referred to the Company's public filings for a more complete discussion of such risk factors and their potential effects which may be accessed through the Company's profile on SEDAR at www.sedar.com.