MGX has consolidated a majority of Alberta's high-grade lithium brine properties. The Company controls nearly 500,000 hectares throughout the Province and has signed exploration level agreements with major oil companies to conduct well sampling.
- Large Land Package: Metallic and Industrial Mineral Permits encompassing nearly 500,000 hectares
- Excellent Infrastructure: Permits located within and around past producing oil fields that are fully serviced with wellheads in place
- Partnerships In Place: Exploration level agreements in place with major oil companies throughout the Province to conduct well sampling
- High-Grade: Permits cover majority of highest reported levels of lithium-bearing brine throughout the Province, reaching up to 140 mg/L lithium(1)
Acquisition of PurLucid Treatment Solutions
MGX has entered into an Acquisition Agreement to acquire PurLucid Treatment Solutions Inc. (see press release dated September 15, 2016). Highlights include:
- Staged CA$5 million investment by MGX to acquire initial 50% interest in Purlucid (with additional option to acquire 100%) to advance water treatment and lithium recovery technologies
- PurLucid holds exclusive licensing to separate oil from lithium-bearing brine; management team includes some of the foremost experts in oil field wastewater management
- Collaboration underway between MGX and PurLucid to integrate proprietary technologies and form detailed recovery flowsheet; pilot plant nearing completion
Alberta Lithium Portfolio
|Fox Creek West||17,021.10|
|Lower Smoky River||8,741.76|
|Lesser Slave Lake||9,216.00|
|Upper Smoky River||9,216.00|
(1) All assays referenced are from the geoScout Oil & Gas Industry database as reported by well operators and monitored by the Government of Alberta.
Cautionary Statement: MGX Minerals is actively working on bringing its Alberta Lithium Portfolio into production. However, readers are cautioned that the Company has not completed a pre-feasibility or feasibility study which establishes mineral reserves with demonstrated economic and technical viability. Further, the Company cautions readers that any potential production may not be economically feasible and historically projects taken to production without establishing reserves through a feasibility study have a much higher risk of economic or technical failure.