Vancouver, British Columbia / November 4, 2015 - MGX Minerals Inc. (“MGX” or the “Company”) ($XMG:CA) (FKT: 1MG) is pleased to report the British Columbia Ministry of Energy and Mines has granted the Company a Bulk Sample Permit under Section 17(3) of the Mineral Tenure Act Regulation, which authorizes MGX to extract a 100 tonne sample of mineralized material from the Driftwood Creek magnesium project (“Driftwood Creek”).
The bulk sample will be mined, crush and shipped to the laboratories of Industrial Furnace Company (“IFCO”) in Rochester, New York for pilot plant testing. MGX signed a Memorandum of Understanding (“MOU”) with IFCO in June (see press release dated June 4, 2015) to acquire calcining equipment specifically for Driftwood Creek.
Results of pilot plant testing will determine final specifications to optimize the design and construction parameters of industrial-sized kilns to process mineralized material from Driftwood Creek. MGX also plans to make representative samples of caustic calcined magnesia (CCM) and dead-burned magnesia (DBM) available to potential customers for further evaluation. MGX aims to provide a secure, long-term supply of magnesium oxide to the North American market.
About MGX Minerals
MGX Minerals ($XMG:CA) 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 from 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 (British Columbia Mineral Titles Branch).
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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