• 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 Mobilizes for Infill Drilling Program at Driftwood Creek in Preparation of Preliminary Economic Assessment

VANCOUVER, BRITISH COLUMBIA / September 29, 2016 / MGX Minerals Inc. (“MGX” or the “Company”) (CSE: XMG / FKT: 1MG / OTC: MGXMF) is pleased to announce that field crews are mobilizing to conduct an infill drill program on the Company’s flagship Driftwood Creek magnesium project (“Driftwood Creek”).

As reported, the Company announced a maiden National Instrument (N.I.) 43-101 compliant mineral resource estimate for Driftwood Creek. The resource estimate outlined 8 million tonnes grading 43% magnesium oxide in the Measured plus Indicated categories. The Company has filed a N.I. 43-101 technical report supporting the resource estimate (see press release dated September 27, 2016).

The report recommended that MGX conduct an infill drill program as part of preparation for a N.I. 43-101 Preliminary Economic Assessment (“PEA”) and filing of a Mining and Reclamation Permit (operating permit) with the Province of British Columbia. Specifically, the report suggests that diamond drilling be carried out to confirm the down dip continuity of contacts as well as identify near-surface magnesite. The Company plans to complete 12 drill holes as part of the infill drilling campaign and expects completion of PEA by the end of 2016.

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.