VANCOUVER, BRITISH COLUMBIA / August 31, 2015 / MGX Minerals Inc. (“MGX” or the “Company”) (XMG:CNX) (FKT: 1MG) announces that phase two diamond drilling at its flagship Driftwood Creek magnesium project (“Driftwood”) commenced on August 30, 2015. Initial progress reports 165 feet completed on day one in drillhole 15-01 while drilling continues.
An eight-hole program consisting of approximately 1,000 meters of drilling is planned to further prove up the continuity of grades and thicknesses of magnesite mineralization within the Western Zone at Driftwood Creek. Infill drilling will occur around seven drill holes completed in 2008 by Tusk Exploration (see Figure 1). Drill site locations were selected based on geologic mapping and geochemical sampling work completed by MGX as well as re-assay results of historic drill core.
MGX’s Qualified Person Mr. Andris Kikauka will perform all core logging and sampling, which will be followed by sample preparation and analysis at ALS laboratories. Mr. Kikauka will also conduct sample chain-of-custody from drill hole to assay lab.
Figure 1. Proposed Phase II 2015 Diamond Drilling:
About MGX Minerals
MGX Minerals (CSE: XMG) is a diversified Canadian mining company listed on the Canadian Securities Exchange. MGX is engaged in the acquisition and development of industrial mineral deposits in western Canada that offer near-term production potential, minimal barriers to entry and low initial capital expenditures.
The Company’s flagship project is the Driftwood Creek magnesium project in the East Kootenay region of British Columbia. The long-term strategic business objectives of the Company include constructing a quarry mine and processing plant to produce magnesium oxide at Driftwood Creek. The Driftwood Creek project is currently under permitting review for granting of a mining lease and applications for associated operating permits are in various stages of preparation. MGX owns the majority of significant magnesite properties in the Province of British Columbia as reported by the British Columbia Geological Service.
For more information please visit the Company’s website at www.mgxminerals.com.
Dr. Michael Reimann
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.
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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