VANCOUVER, BRITISH COLUMBIA / March 15, 2016 / MGX Minerals Inc. (“MGX” or the “Company”) (CSE: XMG / FKT: 1MG) reports the Company has completed acquisition of LIDAR mapping data from the regional forestry company.
The mapping package includes nine gigabytes of precision mapping data covering the proposed operating area for the Driftwood Creek magnesium project (“Driftwood Creek”). The topographical survey information was acquired using overflight and laser mapping technology. The LIDAR overflight was executed during the summer of 2015, prior to snowfall, and has only recently been compiled and made available. The high precision survey data is the last piece of information required to complete a maiden National Instrument (N.I.) 43-101 resource estimate and mine plan for Driftwood Creek.
N.I. 43-101 Resource Estimate and Mine Plan
The newly acquired mapping data will be integrated with previously completed ground surveys, Phase I & II drill data from the East and West Zones respectively, re-assay results of 2008 West Zone drill core, and property wide surface sampling, to produce a maiden N.I. 43-101 resource estimate and detailed mine plan.
Extensive preliminary work on the resource estimate has been completed over the past year. Upon completion of the 3D deposit and block model, an optimized pit shell will be produced inclusive of production schedule and economics. This work will serve as the cornerstone for the application of a Mining & Reclamation Permit for a Major Mine under the British Columbia Mines Act. MGX currently holds a 20-year Mining Lease for Driftwood Creek and bulk sampling is underway.
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.