VANCOUVER, BRITISH COLUMBIA / September 29, 2015 - MGX Minerals Inc. (“MGX” or the “Company”) (XMG:CNX) is pleased to provide a field report from its flagship Driftwood Creek magnesium project (“Driftwood Creek”).
Phase II Drilling Update
Phase II drilling at Driftwood Creek commenced on August 30, 2015 (see press release dated August 31, 2015). Since that time MGX has completed ten drill holes totaling approximately 3,100 feet (944 meters). Drilling is designed to confirm the continuity of grades and thicknesses within the Western Zone at Driftwood Creek as well as extend mineralization along strike. To date drilling has delineated a mineralized area of approximately 600x150 meters and to a depth of 150 meters. Additional geotechnical drill holes are also planned to test the stability of wall rock and for quarry design.
N.I. 43-101 Resource Estimate Underway
Independent technical consultant and Nation Instrument (N.I.) 43-101 Qualified Person Norman Tribe (P. Eng.) has arrived on site and is preparing to conduct a maiden N.I. 43-101 resource estimate for Driftwood Creek. Mr. Tribe has over 55 years of industry experience and is familiar with all faucets of mining including mine development, project management, plant design, exploration geology, reclamation and reporting to various government entities and security exchanges.
Environmental Studies Underway
The Company is also pleased to report that VAST Resource Solutions has deployed a field team to Driftwood Creek to begin preparations for environmental baseline and engineering studies (see press release dated August 31, 2015). Initial field work will focus on surface and ground hydrology with other studies to follow.
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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