MGX Minerals Completes Trenching at Salinitas Lithium Project, Salta Province, Argentina; Drills Targets Identified
VANCOUVER, Oct. 08, 2018 - 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 received the final TEM Geophysics report from Quantec. The report includes a detailed analysis and interpretation of the TEM profiles. Two major aquifer structures based on low resistivity have been identified.
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A.I.S. Exploration Director and CEO, Phil Thomas, undertook a 20 trench sampling program using a 321C Caterpillar excavator to trench down to 5 metres at each point selected at the Salinitas JV Project in the Salinas Grandes Salar, Salta Province, Argentina. The objective was to identify the types of sediments with a specific resistivity close to the surface and identify the porosity of this unit, eg stratigraphic units of green grey clays, sand, black volcanic sands or brown clays. The black sands have a porosity of 22-32% +/- 3%.
Preparations have commenced to start a drilling program in the next two weeks subject to drill rig availability. Some drill pad preparation and roads have been upgraded and drill rig fluid pits have been dug at trench site 12 and 18 in preparation for drill hole 1, and if successful, drill hole 2.
About the Salinitas Lithium Brine Project
The Salinitas tenements are located in the lithium triangle at the Salar de Salinas Grandes, in the 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. MGX has partnered with A.I.S. Resources (TSX.V: AIS) on the Project and is currently earning an undivided 80% interest by incurring total exploration expenditures of at least US$1.2 million by May 31, 2020 and by making payments totaling US$3.2 million which are primarily due at that time.
Rapid Lithium Brine Extraction Technology
MGX has developed a rapid lithium extraction technology eliminating or greatly reducing the physical footprint and investment in large, multi-phase, lake sized, lined evaporation ponds, as well as enhancing the quality of extraction and recovery across a complex range of brines as compared with traditional solar evaporation. This technology is applicable to petrolithium (oil and gas wastewater), natural brine, and other brine sources such as lithium-rich mine and industrial plant wastewater. The technology was recently chosen as winner of the Base and Specialty Metals Industry Leadership Award at the 2018 S&P Global Platts Global Metals Awards, held in London in May (see press release dated May 18, 2018).
Qualified Person
Andris Kikauka (P. Geo.), Vice President of Exploration for MGX Minerals, has prepared, reviewed and approved the scientific and technical information in this press release. Mr. Kikauka is a non-independent Qualified Person within the meaning of National Instrument 43-101 Standards.
About MGX Minerals
MGX Minerals is a diversified Canadian resource company with interests in advanced material and energy 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.
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