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MGX Minerals Inc.
Summary
| Project: | Driftwood Creek | |
|---|---|---|
| Deposit: | Driftwood Creek | |
| Location: | Canada | |
| Commodities: | Magnesium-Aluminium-Calcium-Iron-Silica | |
| Date: | 7/18/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 18-7-2018: MGX Minerals Inc. announces an Exploration/Drilling Update report for its Driftwood Creek deposit at the Driftwood Creek project. Drilling results incl. 87m @ 41.3% MgO, 1.5% Al2O3, 0.9% Fe2O3, 8.1% SiO2 from 3m. VANCOUVER, BRITISH COLUMBIA / J | |
| Resources: | (Resource, M+I): 7.847Mt @ 43.27% MgO, 1% Al2O3, 0.99% CaO, 1.35% Fe2O3, 4.9% SiO2, 47.89% LOI | |
| CP/QP: | [Overall Report]: Andris Kikauka (Internal) | |
| ABSTRACT: | VANCOUVER, BRITISH COLUMBIA / July 18, 2018 / MGX Minerals Inc. (“MGX” or the “Company”) (CSE: XMG / OTCQB: MGXMF / FSE: 1MG) is pleased to announce the completion of a geotechnical drill program and associated assay results from its Driftwood Creek magnesium project (“Driftwood Creek”) in southeastern British Columbia. The objective of the drill program was to establish pit wall stability and assess static pressure of groundwater using piezometers. A summary of assay results is provided below: Based on the new results, the East Zone appears to have considerable potential to expand the magnesite mineral zone to the east and north. The West Zone has potential to contain additional magnesite with high silica-low calcium content in the north (this zone is characterized by a distinct purple coloured magnesite). Based on the grade and interval of magnesite mineralization encountered in geotechnical drilling, the results will also be evaluated to further target additional exploration drill holes. The Company plans to carry out an additional 3,350 meters of exploration core drilling at Driftwood in 2018. The intent of the drill program will be to further expand the drill indicated resource estimate. | |
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