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MGX Minerals Inc.
Summary
| Project: | Lithium Oilfield Brine Project | |
|---|---|---|
| Deposit: | Lithium Oilfield Brine Project | |
| Location: | Canada | |
| Commodities: | Lithium | |
| Date: | 6/22/2016 | |
| Report Code: | NI43-101 | |
| Report Type: | Supporting Acquisition | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 22-6-2016: MGX Minerals Inc. announces a Supporting Acquisition report for its Lithium Oilfield Brine Project deposit at the Lithium Oilfield Brine Project project. Summary of recently acquired Alberta lithium-brine properties. This Technical Report was p | |
| Resources: | x | |
| CP/QP: | [Overall Report]: D. Roy Eccles (APEX Geoscience Ltd.) | |
| ABSTRACT: | This Technical Report was prepared by APEX Geoscience Ltd. (“APEX”) for MGX Minerals Inc. (“MGX”, or the “Company”), a diversified Canadian mining company headquartered in Vancouver, British Columbia, Canada. MGX is engaged in the acquisition and development of industrial mineral deposits that offer near-term production potential, minimal barriers to entry and low initial capital expenditures. The Company's flagship property is the Driftwood Creek magnesium deposit in southeast British Columbia and the Company now controls the majority of the known magnesite occurrences in British Columbia. MGX is also exploring for ferro silica at its Koot Property in southeast British Columbia and silica (frac) sand at its Longworth Property in east-central British Columbia. During 2016, MGX expanded its commodity portfolio to include lithium-brine (“Librine”) by acquiring 30 Metallic and Industrial Mineral permits (the “Properties” or the “Permits”) in Alberta for a total land package of 243,185.6 hectares (600,924.7 acres). The Permits are contiguous and non-contiguous, but can be divided into 15 subProperties that are located in four general areas of Alberta (Figure 1). The Properties, which are the subject of this Technical Report, were staked for their Li-brine potential and other elements of interest. More specifically, MGX proposes to assess saline formation water, or brine, for dissolved lithium (“Li”), potassium (“K”), bromine (“Br”) and boron (“B”). Formation water is defined as formation water with a salinity of greater than 100,000 mg/L. The brine is hosted in aquifers within Devonian reef complexes of the Beaverhill Lake Group (Swan Hills Formation), Woodbend Group (Leduc Formation) and Elk Point Group (Winnipegosis Formation). | |
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