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MGX Minerals Inc.
Summary
| Project: | Driftwood Creek | |
|---|---|---|
| Deposit: | Driftwood Creek | |
| Location: | Canada | |
| Commodities: | Magnesium-Aluminium-Calcium-Iron-Silica | |
| Date: | 9/5/2016 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 5-9-2016: MGX Minerals Inc. announces a Resource Estimation report for its Driftwood Creek deposit at the Driftwood Creek project. Initial mineral resource estimate for project. VANCOUVER, BRITISH COLUMBIA / September 5, 2016 / MGX Minerals Inc. (“MGX” or | |
| Resources: | (Resource, M+I): 8.009Mt @ 43.31% MgO | |
| CP/QP: | [Resources]: Allan Reeves (Tuun Consulting Inc.) | |
| ABSTRACT: | VANCOUVER, BRITISH COLUMBIA / September 5, 2016 / MGX Minerals Inc. (“MGX” or the “Company”) (CSE: XMG / FKT: 1MG) is pleased to announce a maiden National Instrument (N.I.) 43-101 compliant mineral resource estimate for its Driftwood Creek magnesium project (“Driftwood Creek”). The resource estimate was prepared by Mr. Allan Reeves. Mr. Reeves is a Professional Geologist and independent Qualified Person (QP) as defined by N.I. 43-101 Standards of Disclosure for Mineral Projects. He has over 35 years of industry experience and spent 23 years at BHP Billiton where he held senior-level positions at both the Ekati Diamond Mine and Island Copper Mine. he resource estimate was prepared in accordance with Canadian Institute of Mining, Metallurgy and Petroleum ("CIM") Standards on Mineral Resources and Mineral Reserves as adopted by the CIM Council. An updated technical report on Driftwood Creek, including the new resource estimate, will be filed on SEDAR within 30 days. MGX Minerals has the right to acquire a 100% interest in Driftwood Creek. The project is located 164 kilometers north of Cranbrook, British Columbia and is accessible by a network of maintained logging roads. The Company has conducted two rounds of diamond drilling at Driftwood Creek and recently completed a 100-tonne bulk sample program (see press release dated June 9, 2016). MGX received a 20-year Mining Lease for Driftwood Creek in January (see press release dated January 11, 2016). | |
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