MGX Minerals: Ready for Significant Lithium Brine Work in Alberta

ZURICH, SWITZERLAND / ACCESSWIRE / June 22, 2016 / Today, Stephan Bogner from Rockstone Research published an update on MGX Minerals Inc. (CSE: XMG) as the company reported today to have completed a NI43-101 Technical Report on its 100% owned Lithium Brine Properties in different parts of Alberta, Canada, encompassing more than 243,000 hectares.

All of these properties are generally situated in areas where the oil and gas sector is active year round providing comprehensive infrastructure.

Highlights from the Technical Report:

Historic fluid geochemistry from wells that were spudded on MGX’s properties shows that mineralization consists of a lithium-rich sodium-calcium brine hosted in aquifers within the Devonian carbonate reef complexes. Samples from this aquifer were collected from depths between 1,665 to 3,666 m on MGX’s property and selected wells contained 140
mg/L lithium (21 separate well analysis averaged 100 mg/L).

Potassium was recorded in 4 separate Devonian wells yielding between 4,570 and 7,270 mg/L on MGX’s Red Deer Properties. Formation water from a well was analyzed for bromide (956 mg/L) and iodide (18 mg/L).

A total of 4,969 oil, gas and water wells have been spudded on MGX’s properties. To date, MGX has not conducted any exploration, drilling, sampling, mineral processing or mineral resource estimations, however management plans to complete all that in the upcoming months with today’s NI43-101 Technical Report in hand, as it provides a positive basis to move the project forward.

The full report can be accessed with the following links

English (PDF):
http://rockstone-research.com/images/PDF/MGX8en.pdf

English (web version):
http://rockstone-research.com/index.php/en/research-reports/1195-Ready-for-significant-lithium-brine-work-in-Alberta

German (PDF):
http://rockstone-research.com/images/PDF/MGX8de.pdf

Disclaimer: Please read
the full disclaimer within the full research report as a PDF as fundamental
risks and conflicts of interest exist.

SOURCE: Rockstone Research

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