MGX Minerals Announces
Commencement of Drill Program at
Case Lake Lithium Project
VANCOUVER, BRITISH COLUMBIA /
January
10,
2018
/
MGX Minerals Inc.
("MGX" or the
"Company") (CSE:
XMG /
FKT:
1MG /
OTCQB: MGXMF)
is
pleased to report that joint venture partner Power
Metals Corp. ("Power
Metals") has commenced a
2,000 metre drill program on the Northeast Dyke at Case Lake east
of Cochrane, Ontario. Drill hole PWM-18-51, the first drill hole on
the Northeast dyke and on the entire claim, is in progress and is
collared 5 m north of the spodumene pegmatite outcrop. This shallow
hole will drill underneath the location of the surface assay of
7.14 % Li2O (see press
release dated Dec. 4, 2017).
The Northeast
Dyke is located 900 m northeast along strike of the recently
completed 5400 m drill program on the North and Main Dykes and is
within the same tonalite
dome as the
North and Main Dykes. Since the Northeast, North and the Main Dykes
are along the same strike and within the same dome, this indicates
that they were emplaced along the same deep-seated structure. The
Northeast Dyke has a pair of parallel pegmatite dykes: north and
south outcrops similar
to the North and
Main Dykes that were recently drilled.
Jacob and
Samuel Drilling Ltd., Sudbury, Ontario is the drill
contractor.
Quality Control
The grab
samples were delivered to Actlabs
preparation lab
in Timmins by Power Metals' geologists. The core was crushed and
pulverized in Timmins and then shipped to Actlabs
analytical lab
in Ancaster
which has ISO
17025 certification. The ore grade Li2O% was prepared by sodium
peroxide fusion with analysis by ICP-OES with a detection limit of
0.01% Li2O.
Case Lake Joint Venture
Case Lake
Property is located
in Steele and Case
townships, 80 km east of Cochrane, NE Ontario close to the
Ontario-Quebec border. The Case Lake pegmatite swarm consists of
five dykes: North, Main, South, East and Northeast Dykes. MGX
currently has a 20% working interest in Case Lake with the right to
acquire an additional 15%. The Company holds an option to acquire
10,000,000 shares of Power Metals at $0.65 (see press
release dated August 2, 2017).
Qualified Persons
The technical
portions of this press release were 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 43-101 Standards.
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.