MGX Minerals Commences Exploration and Permitting at Kootenay and Wonah Silicon Projects
December 18 2017 - 8:30AM
InvestorsHub NewsWire
MGX
Minerals Commences Exploration and Permitting at Kootenay and Wonah
Silicon Projects; Metallurgy Process Design for Testing of Solar
Grade Silicon Applicability Completed
Vancouver, BC -- December 18, 2017 -- InvestorsHub
NewsWire -- MGX
Minerals Inc. (“MGX” or the “Company”)
(CSE:
XMG / OTCQB:
MGXMF / FKT:
1MG) is pleased to announce development activity has
commenced at its Kootenay and Wonah Silicon Projects located near
Canal Flats, British Columbia. Exploration design and permitting
activities have commenced. Archaeological assessment (AOA) and
environmental assessment are expected to commence shortly.
Infrastructure evaluation is currently underway including
assessment of the bulk commodity load out facility at Canal Flats,
inclusive of ten railcar siding, previously used for gypsum
loading. High grade silica is the feedstock used in industrial
silicon metal and solar silicon metal applications.
Energy Applications
To further the Company’s expansion into low cost energy mass
storage systems, following the acquisition of ZincNyx Energy
Solutions (see
press release, December. 13, 2017), MGX has prioritized
evaluation and development of its silicon projects for silicon
metal potential. One of the primary uses of silicon metal is in
solar panels. Solar panels are a cornerstone to remote and
distributed energy solutions. Solar, combined with a mass storage
system such as that currently under development by ZincNyx, serves
to replace or augment diesel generators, as well as having broad
applications in energy storage for residential and commercial grid
load balancing and backup, and in providing primary and backup
power for industrial sites, telecommunications, large scale
computer server arrays and military bases. Additional information
on the integration of solar with ZincNyx energy storage systems is
available by video and at
ZincNyx.com.
Metallurgy Test Design
A metallurgy program has been designed to test for suitability of
upgrading to silicon metal and solar grade silicon. A bulk sample
requirement of two tonnes has been requested by the evaluation
laboratory. The evaluation laboratory is qualified to complete
process and plant design should the silica be found suitable for
upgrading to silicon metal.
Wonah Silicon
The main target includes the ridge where steeply dipping Ordovician
age quartzite is exposed over a strike length of approximately 850
meters. Geological mapping, geochemical sampling, and surveying
identified a series of white quartzite outcroppings (Wonah
Quartzite Formation) that form 2 lenses, the ‘Central Zone’ that
has been traced for approximately 500 m, and South Zone traced for
350 m along strike. The Central and South Zones consist of a highly
competent quartzite unit that trends N to NNE, is approximately 50
meters in width, and has a steep east dip. There is an ESE trending
fault between the Central and South Quartzite Zones that has an
approximate 200 m sinstral, horizontal displacement. A total
of 11 rock chip quartzite samples were taken from the Central &
South Zones by MGX VP Exploration Andris Kikauka (P. Geo.) shortly
after acquisition in 2015. Rock chip samples were analyzed by
ALS Minerals, North Vancouver, BC, using Li Borate fusion, whole
rock analysis ME-XRF-06 (XRF26), results of significant elements
are summarized by percentage as follows:
Sample
ID |
SiO2 |
Fe2O3 |
MgO |
CaO |
P2O5 |
LOI |
Total |
15WONAH-1 |
99.4 |
0.04 |
0.02 |
0.01 |
<0.01 |
0.14 |
99.76 |
15WONAH-2 |
99.2 |
0.04 |
0.01 |
0.01 |
<0.01 |
0.12 |
99.51 |
15WONAH-3 |
99.7 |
0.03 |
0.01 |
<0.01 |
<0.01 |
0.08 |
99.87 |
15WONAH-4 |
99.5 |
0.04 |
0.01 |
0.01 |
<0.01 |
0.1 |
99.76 |
15WONAH-5 |
99.5 |
0.06 |
0.02 |
0.02 |
0.01 |
0.21 |
100.1 |
15WONAH-6 |
98.9 |
0.03 |
0.01 |
<0.01 |
<0.01 |
0.1 |
99.14 |
15WONAH-7 |
99.2 |
0.05 |
0.01 |
<0.01 |
<0.01 |
0.06 |
99.43 |
15WONAH-8 |
99.9 |
0.04 |
0.01 |
0.01 |
<0.01 |
0.11 |
100.17 |
15WONAH-9 |
99.3 |
0.05 |
0.01 |
0.01 |
<0.01 |
0.21 |
99.73 |
15WONAH-10 |
99.5 |
0.03 |
0.01 |
<0.01 |
<0.01 |
0.11 |
99.74 |
15WONAH-11 |
99.3 |
0.05 |
0.01 |
<0.01 |
<0.01 |
0.13 |
99.59 |
Kootenay Silicon
The property was previously drilled by
COMINCO with a total of 477.16 meters of NQ core with 8 holes
drilled from 7 different locations in 1981. The Kootenay property
consists of a total area of 165.7 hectares (409.4 acres). Fieldwork
was performed in 2015, shortly after the acquisition of the
property by MGX Minerals, by VP of Exploration Andris Kikauka (P.
Geo.) which consisted of geochemical sampling and geological
mapping. Geochemical sampling was carried out on exposed surface
bedrock located in close proximity to historic diamond drilling
performed by Cominco. A total of 8 rock chip samples were collected
from surface outcrop near previous drilling, and rock chip samples
were analyzed by ALS Minerals, North Vancouver, BC, using
Li Borate fusion, whole rock analysis
ME-XRF-06 (XRF26). Highlights of significant results from Koot North,
Middle and South Zones are listed by percentage:
Sample
ID |
SiO2 |
Fe2O3 |
MgO |
CaO |
P2O5 |
LOI |
Total |
Koot-15-AR-1 |
97.97 |
0.53 |
0.01 |
0.03 |
0.01 |
0.24 |
99.17 |
Koot-15-AR-2 |
98.82 |
0.44 |
<0.01 |
0.05 |
0.01 |
0.2 |
99.91 |
Koot-15-AR-3 |
98.39 |
0.48 |
<0.01 |
0.01 |
0.01 |
0.25 |
99.75 |
Koot-15-AR-4 |
97.87 |
0.46 |
<0.01 |
0.01 |
0.01 |
0.28 |
99.14 |
Koot-15-AR-5 |
97.95 |
0.46 |
0.01 |
0.01 |
<0.01 |
0.34 |
99.36 |
Koot-15-AR-6 |
97.89 |
0.55 |
0.01 |
0.01 |
0.01 |
0.31 |
99.32 |
Koot-15-AR-7 |
97.61 |
0.52 |
0.01 |
0.01 |
0.01 |
0.33 |
99.36 |
Koot-15-AR-8 |
97.63 |
0.51 |
<0.01 |
0.01 |
0.01 |
0.4 |
99.16 |
Exploration and Development Plan
Both properties are located near infrastructure and centralized
loadout facility. The Company is prepared for immediate
10-hole drill program at each property followed by small bulk
sample for metallurgical testing. Upon completion of suitable
metallurgy infill drilling is planned for the purpose of generating
a NI 43-101 Resource Estimate. The properties are generally
suited for quarry type operation. Development strategy is
largely dependent on the outcome of metallurgy. Evaluation of
potential strategic partnerships within the silicon metal and solar
sectors is underway which would play a significant role in
development plan should silica be found suitable for the targeted
applications in the silicon metal industry.
Qualified Person
The technical portions of this press release were prepared and
reviewed by Andris Kikauka (P. Geo.), 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.
MGX may decide to advance its silicon projects into production
without first establishing mineral resources supported by an
independent technical report or completing a feasibility study. A
production decision without the benefit of a technical report
independently establishing mineral resources or reserves and any
feasibility study demonstrating economic and technical viability
creates increased uncertainty and heightens economic and technical
risks of failure. Historically, such projects have a much higher
risk of economic or technical failure.
About MGX Minerals
MGX Minerals is a diversified Canadian resource company with
interests in advanced material and energy assets throughout North
America. Learn more at www.mgxminerals.com.
Contact
Information
Jared Lazerson
President and CEO
Telephone: 1.604.681.7735
Web: www.mgxminerals.com
Neither the Canadian Securities Exchange nor its Regulation
Services Provider (as that term is defined in the policies of the
Canadian Securities Exchange) accepts responsibility for the
adequacy or accuracy of this release.
Forward-Looking Statements
This press release contains forward-looking information or
forward-looking statements (collectively "forward-looking
information") within the meaning of applicable securities laws.
Forward-looking information is typically identified by words such
as: "believe", "expect", "anticipate", "intend", "estimate",
"potentially" and similar expressions, or are those, which, by
their nature, refer to future events. The Company cautions
investors that any forward-looking information provided by the
Company is not a guarantee of future results or performance, and
that actual results may differ materially from those in
forward-looking information as a result of various factors. The
reader is referred to the Company's public filings for a more
complete discussion of such risk factors and their potential
effects which may be accessed through the Company's profile on
SEDAR at www.sedar.com.
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