MGX Minerals Acquires Pilot Plant for Driftwood Creek Magnesium
VANCOUVER, British Columbia, June 10, 2016 (GLOBE NEWSWIRE) — MGX Minerals Inc. (“MGX” or the “Company”) (CSE:XMG) (FKT:1MG) is pleased to announce the Company has acquired, on a trial basis with an option to purchase, a full-scale pilot plant mill (the “Mill”) from CMC Metals Ltd. (TSX-V:CMB).
The Mill equipment includes a jaw crusher, ball mill, flotation cells, cyclone dewatering equipment and a tailings filtration and thickener system. The Mill is currently on care and maintenance in the Yukon. MGX has dispatched a contractor to transport all equipment, inclusive of five tractor trailers, to the stock pile location of the Company’s recently completed bulk sample (see press release dated June 9, 2016). The Company expects that bulk sample material will arrive and be made available within one week.
The Mill was previously utilized to process polymetallic concentrate. The Company intends to use the Mill to process bulk sample material through reverse flotation to produce two potentially saleable products- a high purity magnesite tailing and byproduct silica sand float.
Stated MGX President and CEO Mr. Jared Lazerson: “MGX looks forward to commencing the pilot plant phase at Driftwood Creek and to begin producing representative and potentially saleable material.”
Driftwood Creek Magnesium
MGX Minerals has the right to acquire a 100% interest in the Driftwood Creek magnesium project. The Company has completed a Phase I and Phase II drill program at Driftwood Creek and has now conducting a 100-tonne bulk sample program. MGX received a 20-year Mining Lease for Driftwood Creek in January (see press release dated January 11, 2016).
This press release was prepared under the supervision and review of Andris Kikauka, P. Geo. and 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.
About MGX Minerals
MGX Minerals (CSE:XMG) is a diversified Canadian mining company 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 operates lithium, magnesium and silicon projects throughout British Columbia and Alberta. For further information, please visit the Company’s website at www.mgxminerals.com.
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.
CONTACT: Contact Information Jared Lazerson President and CEO Tel: 604.681.7735 Email: email@example.com