The Canadian-based company MGX Minerals Inc ($XMG)has begun site evaluation and engineering studies at its Cranbook, B.C. mill site. MGX Minerals plans to use utilize the mill site, totaling 98 acres, for processing industrial minerals.
The ability to build upon and install equipment in an existing structure where power, waterways, and railroads are accessible is ideal. Before operations can begin, the site must first be acquired, then evaluated by proper personnel. Fortunately for MGX Minerals,they completed a crucial acquisition that allows them to begin evaluation of a mill site that will be utilized for their flagship project.
The Cranbrook Mill was acquired from the integrated forest company, Tembec Inc. ($TMB), in late September. An initial site visit was conducted by MGX Minerals’ senior engineer, and plans have progressed to a review of proposed logistic and infrastructure strategies. Energy partners Eaton Industries Corp (ETN) and Highbury Energy Inc are in discussions with MGX regarding potential service upgrades available for the existing infrastructure.
Magnesium Deposit Project Progresses
MGX Minerals continues to move forward with mining and operational plans. Earlier this month, the company was awarded the necessary permits required to conduct an archaeological impact assessment for their flagship project, Driftwood Creek. Furthermore, the company has completed their phase II drilling program at Driftwood Creek, and core has been shipped for whole rock analysis. Since the Cranbrook Mill complex is a fully serviced industrial location, ore from MGX’s Driftwood Creek magnesium deposit will be processed there.
Site evaluations are underway, and key partnerships are in place. With the acquisition of an ideal site and drilling programs complete, MGX Minerals is one step closer to getting the Cranbrook Mill up and running.
For more information about MGX Minerals, visit www.mgxminerals.com/.
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