MGX Minerals and PurLucid Treatment Systems Announces Initial Commissioning of Rapid Lithium Recovery System...
December 06 2017 - 8:30AM
InvestorsHub NewsWire
MGX
Minerals and PurLucid Treatment Solutions Announces Initial
Commissioning of Rapid Lithium Recovery System, Deployment Site and
Water Processing Contract
Vancouver, BC -- December 6, 2017 -- InvestorsHub NewsWire
-- MGX Minerals
Inc. (“MGX” or the “Company”) (
CSE:
XMG /
FKT:
1MG /
OTCQB:
MGXMF) is pleased to report that engineering partner
PurLucid Treatment Solutions (“PurLucid”) has
partially commissioned the commercial-scale NFLi5 lithium
recovery system at its new manufacturing facility in Calgary,
Alberta. The pre-treatment nanoflotation and nanofiltration system
is now operational with all electrical, control and pump systems in
the first two stages of the process operational under constant
flow. Additional mineral extraction nanofiltration components are
expected to be brought online sequentially over the upcoming weeks
and the system will be ready for deployment in early Q1 2018.
The NFLi5 system is capable of processing 750 barrels (120 cubic
meters) of brine per day. The system utilizes patented
nanoflotation technology to purify wastewater or natural brine
while extracting lithium and other minerals using the
patent-pending rapid mineral recovery process jointly developed by
MGX and PurLucid and exclusively licensed globally to MGX.
PurLucid continues to conduct bulk sample testing from various MGX
lithium target sites throughout North America. A recent sample of
brine wastewater originating from Utah was concentrated from 600
mg/L Li to 3,300 mg/L Li to produce a clean lithium chloride
concentrate of 19,900 mg/L with undetectable levels of
magnesium. This sample is being shipped for off-take
evaluation. Additionally, brine samples from two Petrolithium
projects in Alberta were successfully processed through the Li-1
pilot plant system. PurLucid has signed a contract with the
oilfield operator on one project and negotiations are underway with
the other. The signed contract is based on a per cubic meter
processing fee valued up to C$2 million annually of wastewater
processing revenue in addition to any value from lithium and other
minerals extracted.
MGX currently owns a 34% interest in PurLucid and has the right to
acquire 100% through successive future investments. The Company
expects to increase its ownership to 45% shortly.
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 petrolithium 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 PurLucid
PurLucid’s exclusively licensed and patented nanoflotation
technology was designed specifically for oilfield environments. The
technology separates impurities from oil and gas wastewater and
produces clean water as a final product. This allows for the
recycling or controlled release of oilfield wastewater and reduces
or eliminates downhole and associated transportation costs. Water
handling costs are one of the largest operating costs in the
oilfield and oilsands operations today. Learn more at
www.purlucid.com.
About MGX Minerals
MGX Minerals is a diversified Canadian resource and technology
company with interests in lithium, magnesium and silicon 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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