VANCOUVER, BRITISH COLUMBIA / February 23, 2016 / MGX Minerals Inc. (“MGX” or the “Company”) (CSE: XMG / FKT: 1MG) is pleased to announce the Company has identified an initial group of 16 past producing wells for test production. The wells are within the lithium bearing brine pools of the Swan Hills formation near Fox Creek, AB. These wells cover an area of approximately 8km in length and up to 3.2km in width. This area represents approximately 2,500 hectares of MGX’s 96,000 hectare Alberta Lithium Properties. Past production of brine in the most recent wellhead production reports for the cluster totaled 17,000bpd as reported in the GeoScout database. A central well of the cluster reported historical grade of 130mg/L Li and two additional nearby wells reported historical grades of 117 mg/L and 130mg/L at 3km and 10km respectively as reported in the Provincial industrial minerals database.
Process Design & Pilot Plant Engineering
MGX is in discussion with specialized engineering firms for initial design, process flow, and equipment list to construct a 20,000 bpd plant for the extraction of lithium, potassium, and magnesium compounds. The Company aims to design a conventional high efficiency, high recovery extraction plant.
“We believe the next major milestone is process design and pilot plant engineering. The initial group of wells identified are operational with past production of brine and we do not foresee well production issues. It is time we put a production process in place,” stated MGX President and CEO Jared Lazerson.
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.