MGX Minerals (XMG)(MGXMF) Commences Exploration and Permitting at Kootenay and Wonah Silicon Projects; Metallurgy Process Design for Testing of Solar Grade Silicon Applicability Completed

Spotlight Companies  |

MGX Minerals Inc.(CSE: XMG / OTCQB: MGXMF / FKT: 1MG)) is pleased to announce development activity has commenced at its Kootenay and Wonah Silicon Projects located near Canal Flats, British Columbia. Exploration design and permitting activities have commenced. Archaeological assessment (AOA) and environmental assessment are expected to commence shortly. Infrastructure evaluation is currently underway including assessment of the bulk commodity load out facility at Canal Flats, inclusive of ten railcar siding, previously used for gypsum loading. High grade silica is the feedstock used in industrial silicon metal and solar silicon metal applications.

Energy Applications

To further the Company’s expansion into low cost energy mass storage systems, following the acquisition of ZincNyx Energy Solutions (see press release, December. 13, 2017), MGX has prioritized evaluation and development of its silicon projects for silicon metal potential. One of the primary uses of silicon metal is in solar panels. Solar panels are a cornerstone to remote and distributed energy solutions. Solar, combined with a mass storage system such as that currently under development by ZincNyx, serves to replace or augment diesel generators, as well as having broad applications in energy storage for residential and commercial grid load balancing and backup, and in providing primary and backup power for industrial sites, telecommunications, large scale computer server arrays and military bases. Additional information on the integration of solar with ZincNyx energy storage systems is available by video and at ZincNyx.com.

Metallurgy Test Design

A metallurgy program has been designed to test for suitability of upgrading to silicon metal and solar grade silicon. A bulk sample requirement of two tonnes has been requested by the evaluation laboratory. The evaluation laboratory is qualified to complete process and plant design should the silica be found suitable for upgrading to silicon metal.

Wonah Silicon

The main target includes the ridge where steeply dipping Ordovician age quartzite is exposed over a strike length of approximately 850 meters. Geological mapping, geochemical sampling, and surveying identified a series of white quartzite outcroppings (Wonah Quartzite Formation) that form 2 lenses, the ‘Central Zone’ that has been traced for approximately 500 m, and South Zone traced for 350 m along strike. The Central and South Zones consist of a highly competent quartzite unit that trends N to NNE, is approximately 50 meters in width, and has a steep east dip. There is an ESE trending fault between the Central and South Quartzite Zones that has an approximate 200 m sinstral, horizontal displacement. A total of 11 rock chip quartzite samples were taken from the Central & South Zones by MGX VP Exploration Andris Kikauka (P. Geo.) shortly after acquisition in 2015. Rock chip samples were analyzed by ALS Minerals, North Vancouver, BC, using Li Borate fusion, whole rock analysis ME-XRF-06 (XRF26), results of significant elements are summarized by percentage as follows:

Kootenay Silicon

The property was previously drilled by COMINCO with a total of 477.16 meters of NQ core with 8 holes drilled from 7 different locations in 1981. The Kootenay property consists of a total area of 165.7 hectares (409.4 acres). Fieldwork was performed in 2015, shortly after the acquisition of the property by MGX Minerals, by VP of Exploration Andris Kikauka (P. Geo.) which consisted of geochemical sampling and geological mapping. Geochemical sampling was carried out on exposed surface bedrock located in close proximity to historic diamond drilling performed by Cominco. A total of 8 rock chip samples were collected from surface outcrop near previous drilling, and rock chip samples were analyzed by ALS Minerals, North Vancouver, BC, using Li Borate fusion, whole rock analysis ME-XRF-06 (XRF26). Highlights of significant results from Koot North, Middle and South Zones are listed by percentage:

Exploration and Development Plan

Both properties are located near infrastructure and centralized loadout facility. The Company is prepared for immediate 10-hole drill program at each property followed by small bulk sample for metallurgical testing. Upon completion of suitable metallurgy infill drilling is planned for the purpose of generating a NI 43-101 Resource Estimate. The properties are generally suited for quarry type operation. Development strategy is largely dependent on the outcome of metallurgy. Evaluation of potential strategic partnerships within the silicon metal and solar sectors is underway which would play a significant role in development plan should silica be found suitable for the targeted applications in the silicon metal industry.

Qualified Person

The technical portions of this press release were prepared and reviewed by Andris Kikauka (P. Geo.), Vice President of Exploration for MGX Minerals. Mr. Kikauka is a non-independent Qualified Person within the meaning of National Instrument (N.I.) 43-101 Standards.

In the interest of full disclosure, we call the reader's attention to the fact that Equities.com, Inc. is compensated by the companies profiled in the Spotlight Companies section. The purpose of these profiles is to provide awareness of these companies to investors in the micro, small-cap and growth equity community and should not in any way be considered as a recommendation to buy, sell or hold these securities. Equities.com is not a registered broker dealer, investment advisor, financial analyst, investment banker or other investment professional. We are a publisher of original and third party news and information. All profiles are based on information that is available to the public. The information contained herein should not be considered to be complete and is not guaranteed by Equities.com to be free from misstatement or errors. The views expressed are our own and not intended to be the basis for any investment decision. Readers are reminded to do their own due diligence when researching any companies mentioned on this website. Always bear in mind that investing in early-stage companies is risky and you are encouraged to only invest an amount that you can afford to lose completely without any change in your lifestyle. Equities has been compensated with cash, common shares and/or warrants for market awareness services provided.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to: http://www.equities.com/disclaimer

Companies

Symbol Name Price Change % Volume
XMG:CNX MGX Minerals Inc. 0.70 -0.04 -5.41 266,426
MGXMF MGX Minerals Inc 0.55 -0.02 -3.75 138,750

Comments

Emerging Growth

Radient Technologies Inc.

Radient Technologies Inc is engaged in research, development and commercialization of environmentally responsible technology for the extraction, isolation and purification of soluble products from a wide range of materials using…