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MGX Minerals Inc.
Summary
| Project: | Driftwood Creek | |
|---|---|---|
| Deposit: | Driftwood Creek | |
| Location: | Canada | |
| Commodities: | Magnesium-Aluminium-Calcium-Iron-Silica | |
| Date: | 3/6/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | PEA | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 6-3-2018: MGX Minerals Inc. announces a PEA report for its Driftwood Creek deposit at the Driftwood Creek project. PEA results incl. pre-tax NPV (5%) C$529.8M, IRR 24.5%+. This Resource Technical Report was prepared for MGX Minerals Inc. (MGX or the Compa | |
| 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: | [Resources]: Allan Reeves (Tuun Consulting Inc.) | |
| ABSTRACT: | This Resource Technical Report was prepared for MGX Minerals Inc. (MGX or the Company), providing a National Instrument (NI) 43-101 compliant Preliminary Economic Assessment (PEA) of the potential magnesium oxide (MgO) resources at the Driftwood Creek Magnesite Deposit (the Project or the Driftwood Creek Project), located in British Columbia (BC), Canada. Note that the resources have been updated (effective date: December 31, 2016), and these updated values are used in this report. MGX is listed on the Canadian Securities Exchange as symbol (XMG). Magnesium oxide is classified as an industrial mineral, and this report has utilized the Canadian Institute of Mining, Metallurgy and Petroleum (CIM) Best Practices Industrial Minerals Guidelines (November 2003) to supplement both the CIM Definition Standards for Mineral Resources and Mineral Reserves (May 2014) and the CIM Guidance on Commodity Pricing (2015). For an industrial mineral, the guideline states “the QP should give priority to: (i) the value of the intended mineral product; (ii) market factors; and (iii) applicability of the market criteria to the mineral deposit being assessed.” The only mineralization of economic interest on the property is magnesite. Magnesite is magnesium carbonate (MgCO3), and has a theoretical magnesium oxide content of an average grade of 47.6% MgO. Magnesite products are obtained by calcining magnesium carbonate or magnesium hydroxide at different temperatures. Caustic-calcined magnesia (CCM) is a reactive oxide easily hydrated with water, and is prepared by burning off carbon dioxide at extremely high heat. MGX’s initial plan is to produce dead-burned magnesia (DBM), the principal industrial mineral derived from magnesite. It is a refractory material primarily used to line furnaces in the steel industry. | |
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