• 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 Completes Phase II Drilling at Driftwood Magnesium Project

VANCOUVER, BRITISH COLUMBIA / October 9, 2015 / MGX Minerals Inc. (“MGX” or the “Company”) (CSE: XMG / FKT: 1MG) is pleased to announce completion of Phase II drilling at its flagship Driftwood Creek magnesium project (“Driftwood Creek”) (see press release dated August 31, 2015). In total, 12 diamond drill holes were completed totaling 1,100 meters.

Core has been shipped to ALS Minerals (“ALS”) in North Vancouver, British Columbia for whole-rock analysis. Initial results from drill holes 1-4 we released on October 5th (see press release dated October 5, 2015). Assay results from the remaining eight drill holes expected shortly.

The Phase II drill program was designed to confirm the vertical and lateral continuity of magnesite mineralization within the Western Zone at Driftwood Creek as well as assist with resource modelling and pit design. To date the Western Zone has been delineated across 0.5 kilometers and remain open along strike (E-W) and at depth.

2015 Diamond Drill Holes are reported below:

DDH Easting
(NAD 83)
Northing
(NAD 83)
Elevation
(m)
Azimuth Dip Depth
(m)
Comments Depth
(ft)
2015-1 530453 5639476 1393 205 65 121.92 West of
2008-2
400
2015-2 530541 5639457 1395 205 53 91.44 East of
2008-2
300
2015-3 530560 5639436 1390 205 50 76.2 East of
2008-2
215
2015-4 530366 5639535 1386 205 53 128.08 West of
2008-2
420
2015-5 530308 5639561 1378 205 53 125.88 West Extension 413
2015-6 530393 5639619 1374 205 50 114.3 West of
2008-1
375
2015-7 530473 5639619 1394 205 53 44.2 North Extension 145
2015-7A 530473 5639619 1394 25 60 18.29 North Extension 60
2015-8 530356 5639658 1378 205 50 108.2 Northwest Extension 355
2015-9 530683 5639463 1364 205 50 79.86 East
Extension
262
2015-10 530725 5639440 1385 215 50 43.28 East
Extension
142
2015-11 530600 5639579 1380 205 53 16.76 North
Extension
70
2015-11A 530600 5639579 1380 25 60 21.34 North
Extension
55
2015-12 530308 5639574 1374 25 50 112.78 Northwest
Extension
370
            1102.53   3,582


Drill results from Phase I and II drilling will be added to previous drill core analysis and compiled to establish a maiden National Instrument (N.I.) 43-101 compliant mineral resource estimate for the Eastern and Western zones. Independent technical consultant and National Instrument (N.I.) 43-101 Qualified Person Norman Tribe (P. Eng.) has been on site and is preparing to conduct the resource estimate for Driftwood Creek

Quality Assurance/Quality Control
The sample chain of custody is managed by MGX under the supervision of Mr. Andris Kikauka. Drill core is being split at three meter intervals, secured in a nearby storage facility and shipped to ALS Minerals (“ALS”). ALS is an independent, ISO-certified analytical laboratory located in North Vancouver, British Columbia. ALS is conducting whole-rock analysis using a lithium borate fusion process to calculate oxide equivalent values.

Qualified Person
This press release was prepared under the supervision and review of Andris Kikauka, P. Geo. and 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.