• LAST TRADES: XMG:C$1.09
  • MGXMF:US$0.85
  • 1MG:0.74
German Translator      
 
News

Press Releases

GET EMAIL UPDATES

Press Releases

MGX Minerals Provides Mining Lease and Permitting Update for Driftwood Creek Magnesium Project

VANCOUVER, BRITISH COLUMBIA - July 17, 2015 - MGX Minerals Inc. (“MGX” or the “Company”) (CSE: XMG / FKT:1MG) is pleased to provide an update on its application for a Mining Lease and additional permitting activities at the Company’s flagship Driftwood Creek magnesium project (“Driftwood Creek”). 

The Company made an application for a Mining Lease in January of 2015 and is now in the final stage of the approval process. All components of the Mining Lease Application have been completed with the exception of the formal survey. Final submission to the Surveyor General regarding the survey portion of the lease is underway and is expected to be completed shortly. Upon final submission of the survey and construction of physical monuments a decision from the Ministry of Energy and Mines regarding a Mining Lease is expected forthwith.

On July 15th, 2015 MGX’s Senior Project Engineer held extensive discussions with the Regional Manager of Mines at Cranbrook, BC for the purpose of finalizing the path to obtaining a Mine Permit at Driftwood Creek.  As a result of this meeting the following steps have been determined:

1. A project description will be provided to all relevant and affected branches of government and First Nations outlining the project, impact and, in particular, benefits of the project to the local community, First Nations and, generally, the Province of British Columbia.

2. Two weeks after submission of the project description a meeting will be held with all affected branches of government and First Nations for presentation and discussion of the project.  This meeting is expected to involve approximately 50 people, including a diverse group of experts, attending directly and via video conference. The attendees shall represent the affected government branches and First Nations as well as MGX’s senior management and technical consultants.

3. Based on the project proposal and meeting a review of deficiencies, changes and additions will occur including determination of any additional environmental assessment requirements.

4. Filing of the formal mine application which will include the above mentioned project description as well as all necessary technical and environmental information, plans, and data.

5. Relevant operating permits shall include:

    1. Mines Permit
    2. Discharge Permit
    3. Air Permit
    4. Waste Disposal Permit
    5. Explosives Permit
    6. Fuel Storage Permit
    7. Road Use Permit
    8. License to Cut

The Company currently has multiple studies, technical and engineering initiatives, and economic analyses underway in preparation for the Mine Application. MGX aims to provide the above mentioned project description to affected branches of government and First Nations in September of 2015 and proceed with a formal Mine Permit application shortly thereafter.

“We are pleased by the ongoing direction and support provided by the Ministry of Energy and Mines as we advance Driftwood Creek. We look forward to working with and obtaining detailed input from all affected branches of government, First Nations, and the local communities.  We believe, in time, that this project and its value added components will change the economic landscape of the East Kootenay Region and provide substantial long term benefit to many individuals, families, First Nations, local and provincial government and more generally to the working men and woman of the East Kootenay Region that face economic uncertainty and limited long term opportunity due to a lack of local industrial and resource based job opportunities,” Stated MGX Chief Executive Officer Jared Lazerson.