MGX Minerals and PurLucid Provide Lithium Extraction System Deployment Update; Second Site Agreement Near Completion
April 04 2018 - 8:30AM
InvestorsHub NewsWire
MGX Minerals and
PurLucid Provide Lithium Extraction System Deployment Update;
Second Site Agreement Near Completion
Vancouver, BC -- April 4,
2018 -- InvestorsHub NewsWire -- MGX Minerals Inc.
(“MGX” or the “Company”) (CSE: XMG / FKT: 1MG / OTCQB: MGXMF) is pleased to
report that the Company’s majority owned engineering partner
PurLucid Treatment Solutions Inc. (“PurLucid”) is
nearing completion of its second commercial-scale contract for
deployment of MGX-PurLucid water treatment and lithium extraction
systems at petrolithium sites in Alberta. Final assembly, site
preparation and deployment are underway for the initial site and
installation at both sites is expected to be largely complete by
June 2018. Under the agreement MGX remains in control of all
lithium and other minerals extracted using the lithium extraction
systems.
Industrial Lithium
Since January, MGX and Purlucid have been working to further prove
the viability of lithium recovery from industrial wastewater sites
in the United States while also improving the quality of effluent
discharged to a river. Recent testing from an industrial site
concentrated lithium to commercial grade as lithium chloride,
excluding all magnesium and calcium (0.05% and 0.1% in product,
respectively). Sodium and potassium, which comprised 76% of the
cations in the feed water, were reduced by 90% in the final
product. Additional optimization is ongoing in preparation for
commercial deployment to this site.
H2S Advancement
Purlucid has also processed several bulk samples from sour gas
fields and developed an effective, chemical free method for
removing H2S and TVOC prior to water treatment and lithium
recovery. H2S and TVOC concentrations were reduced from 60 ppm and
80 ppm, respectively, to 2 ppm and 40 ppm in a closed processing
system. This system augments the ability to recover lithium from
petroleum brines with dangerous levels of H2S and TVOCs, further
extending access to brine resources.
The Partnership
Since announcing an acquisition and engineering partnership
agreement in September 2016, MGX and PurLucid have invented new
technology and filed patent applications related to brine treatment
and selective lithium recovery. PurLucid’s exclusively licensed
nanoflotation technology, which purifies wastewater brine, has
since been integrated with a newly developed lithium recovery
process. Combined, this Cleantech process reduces the capital cost
of recovery compared to traditional solar evaporation as it does
not require the investment in very large, multi-phase, lake sized,
lined evaporation ponds, greatly reducing the physical footprint
and enhancing the quality of extraction and recovery across a
complex range of brines previously considered un-processable due to
complexity or geographical location outside of solar evaporation
appropriate zones. This includes oil and gas wastewater, natural
brine, and other brine sources such as lithium-rich mine and
industrial plant wastewater. MGX holds the global rights to the
jointly developed lithium extraction technology.
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
Inquiries: info@mgxminerals.com
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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