MGX Minerals and PurLucid Treatment Solutions Announce Initial Commissioning of Rapid Lithium Recovery System, Deployment Site and Water Processing Contract
VANCOUVER, British Columbia, Dec. 06, 2017 (GLOBE NEWSWIRE) -- MGX Minerals Inc. (“MGX” or the “Company”) (CSE:XMG) (FKT:1MG) (OTCQB:MGXMF) is pleased to report that engineering partner PurLucid Treatment Solutions (“PurLucid”) has partially commissioned the commercial-scale NFLi5 lithium recovery system at its new manufacturing facility in Calgary, Alberta. The pre-treatment nanoflotation and nanofiltration system is now operational with all electrical, control and pump systems in the first two stages of the process operational under constant flow. Additional mineral extraction nanofiltration components are expected to be brought online sequentially over the upcoming weeks and the system will be ready for deployment in early Q1 2018.
The NFLi5 system is capable of processing 750 barrels (120 cubic meters) of brine per day. The system utilizes patented nanoflotation technology to purify wastewater or natural brine while extracting lithium and other minerals using the patent-pending rapid mineral recovery process jointly developed by MGX and PurLucid and exclusively licensed globally to MGX.
PurLucid continues to conduct bulk sample testing from various MGX lithium target sites throughout North America. A recent sample of brine wastewater originating from Utah was concentrated from 600 mg/L Li to 3,300 mg/L Li to produce a clean lithium chloride concentrate of 19,900 mg/L with undetectable levels of magnesium. This sample is being shipped for off-take evaluation. Additionally, brine samples from two Petrolithium projects in Alberta were successfully processed through the Li-1 pilot plant system. PurLucid has signed a contract with the oilfield operator on one project and negotiations are underway with the other. The signed contract is based on a per cubic meter processing fee valued up to C$2 million annually of wastewater processing revenue in addition to any value from lithium and other minerals extracted.
MGX currently owns a 34% interest in PurLucid and has the right to acquire 100% through successive future investments. The Company expects to increase its ownership to 45% shortly.
Qualified Person
The technical portions of this press release were prepared and reviewed by Andris Kikauka (P. Geo.), Vice President of Exploration for MGX Minerals. Mr. Kikauka is a non-independent Qualified Person within the meaning of National Instrument (N.I.) 43-101 Standards.
MGX may decide to advance its petrolithium projects into production without first establishing mineral resources supported by an independent technical report or completing a feasibility study. A production decision without the benefit of a technical report independently establishing mineral resources or reserves and any feasibility study demonstrating economic and technical viability creates increased uncertainty and heightens economic and technical risks of failure. Historically, such projects have a much higher risk of economic or technical failure.
About PurLucid
PurLucid’s exclusively licensed and patented nanoflotation technology was designed specifically for oilfield environments. The technology separates impurities from oil and gas wastewater and produces clean water as a final product. This allows for the recycling or controlled release of oilfield wastewater and reduces or eliminates downhole and associated transportation costs. Water handling costs are one of the largest operating costs in the oilfield and oilsands operations today. Learn more at www.purlucid.com.
About MGX Minerals
MGX Minerals is a diversified Canadian resource and technology company with interests in lithium, magnesium and silicon assets throughout North America. Learn more at www.mgxminerals.com.
Contact Information
Jared Lazerson
President and CEO
Telephone: 1.604.681.7735
Web: www.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", "potentially" 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.