MGX Minerals is building North America's next magnesium oxide mine at Driftwood Creek. The Company has secured a 20-year Mining Lease, completed a 100-tonne bulk sample and recently announced a maiden N.I. 43-101 compliant mineral resource estimate.
- Established Mining District: Resides in the Driftwood mining district; 164 kilometers north of Cranbrook, B.C.
- Near-Term Production Profile: 20-year Mining Lease approved; N.I. 43-101 Mineral Resource Estimate & 100-tonne bulk sample completed
- Mining and Milling: Amenable to open-pit mining and established beneficiation methods
- Excellent Infrastructure: Access to rails, road, labor and electricity
- Exploration Potential: Mineralization traced over 2,000 meters to date; remains open along strike and at depth
N.I. 43-101 Mineral Resource Estimate
- Measured plus Indicated (M+I) mineral resource totaling 8.028 million tonnes grading 43.31% magnesium oxide (MgO)
- Inferred mineral resource totaling 846,000 tonnes grading 43.20% MgO
- Bulk of resource is located less than 100 meters from surface; opportunities to expand mineral resource along strike and at depth with additional drilling
- Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability. There is no certainty that all, or any part of the Mineral Resources estimated will be converted into Mineral Reserves.
- The LG constrained shell economics used a mining costs of US$6.25, processing costs of US$129.41/tonne and a commodity price of US$400.00/tonne 95%MgO DBM.
- Mineral resources are reported within the constrained shell, using a cut-off grade of 42.5% MgO (based on 40 years) to determine ‘reasonable prospects for eventual economic extraction’.
- Tonnages are reported to the nearest 1,000 tonnes, and grades are rounded to the nearest two decimal places.
- Rounding as required by reporting guidelines may result in apparent summation differences between tonnes, grade and contained metal.
Driftwood Path to Value
|Mine Preparation||Preliminary Economic Assessment||100-Tonne Bulk Sample
N.I. 43-101 Resource Estimate
|Permitting||Operating Permit Application||Mining Lease Application
Final Land Survey