MGX Minerals Drills Up to 105 Meters of 98.7% Silica at Koot Silicon Project

Date : 08/10/2018 @ 8:50AM
Source :InvestorsHub NewsWire
Stock : MGX Minerals Inc. (XMG)
Quote : 0.485  0.005 (1.04%) @ 2:37PM

MGX Minerals Drills Up to 105 Meters of 98.7% Silica at Koot Silicon Project

MGX Minerals Drills Up to 105 Meters of 98.7% Silica at Koot Silicon Project

Vancouver, BC -- August 10, 2018 -- InvestorsHub NewsWire -- MGX Minerals Inc. (“MGX” or the “Company”) (CSE: XMG / FKT: 1MG / OTCQB: MGXMF) is pleased to report results of diamond drilling from its Koot silicon project (“Koot”) north of Cranbrook, British Columbia. Nine drill holes were completed across 50 meter spacings to further expand known mineralization within the North and South zones. Five drill holes were located in the North Zone and were collared in quartzite and ended in quartzite. Four holes collared in the South Zone started in quartzite and two out of four holes ended in quartzite. The Company began evaluation of commercial applications for silica with silicon processing experts DORFNER ANZAPLAN this Spring; including testing of material for upgrading of metallurgical grade and solar-grade silicon with results expected shortly.

The relatively high percentage of total SiO2 content compares favorably with other silica deposits in nearby Golden, British Columbia.  Impurity compounds of interest such as Al2O3 & Fe2O3, approach specifications required for silicon metal. Lower loss on ignition (LOI) values correlate directly with higher SiO2 values. Highlighted drill results are presented below:

 
DDHFrom
(m)
To
(m)
Interval
(m)
%
SiO2
%
Al2O3
%
Fe2O3
%
K2O
%
TiO2
%
LOI
%
Total
% SiO2/
% Total
18K-10.956.3955.4998.50.540.390.170.130.49100.2598.15
18K-20.976.2075.397.90.510.240.100.140.3099.3098.64
18K-31.5106.68105.1898.70.330.240.100.100.2699.8498.88
18K-40.086.086.098.30.370.380.140.120.3699.8198.5
18K-52.099.097.098.10.700.330.190.140.4199.9098.16
18K-62.236.033.899.00.970.090.290.060.33100.8998.28
18K-76.054.048.099.00.440.250.120.120.40100.4198.61
18K-92.377.7275.4298.40.430.370.110.110.4299.9598.43
18K-102.2554.051.7598.90.390.230.080.110.32100.1698.78

Geochemical sampling was carried out on split drill core from nine holes. A total of 212 split core samples (at 3 meter sample intervals) were analyzed by ALS Minerals, North Vancouver, British Columbia, using Li Borate fusion, whole rock analysis ME-XRF-06.
MGX operates three silicon projects in SE British Columbia, Koot, Wonah, and Gibraltar.

Qualified Person
Andris Kikauka (P. Geo.), Vice President of Exploration for MGX Minerals, has prepared, reviewed and approved the scientific and technical information in this press release. 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.
 

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