MGX Minerals Completes TDEM Geophysical Survey at Salinitas Lithium Project - Salinas Grande Salar, Argentina
August 13 2018 - 9:00AM
InvestorsHub NewsWire
MGX Minerals
Completes TDEM Geophysical Survey at Salinitas Lithium Project -
Salinas Grande Salar, Argentina
Vancouver, BC -- August 13, 2018 -- InvestorsHub
NewsWire -- MGX Minerals Inc. (“MGX” or the
“Company”) (CSE:
XMG / OTCQB: MGXMF / FKT: 1MG) is pleased to report
completion of the previously announced Time Domain Electromagnetic
(TDEM) survey at the Salinitas lithium brine project (the
“Project”) located in the Salinas Grande Salar of northwest
Argentina. The TDEM geophysical survey was conducted across 52
stations at 500 meter totaling approximately 26 kilometers. Data
compilation is underway and interpretation is expected to begin
shortly. Based on interpretation of the TDEM data, the Company is
now preparing to carry out trenching as well as an auger drilling
program to test for shallow, near surface brines that contain
anomalous concentrations of lithium and other elements correlated
with geophysics in preparation for definition of drill
targets.
About the Salinitas Lithium
Brine Project
The Salinitas tenements are located in
the lithium triangle at the Salar de Salinas Grandes, in the
Province of Salta. The 4,308 hectare contiguous land package
resides in the Puna region of northwest Argentina near the border
of Chile, an area renowned for its lithium- and potassium-rich
brine resources. MGX has partnered with A.I.S. Resources (TSX.V: AIS) on the Project and is
currently earning an undivided 80% interest by incurring total
exploration expenditures of at least US$1.2 million by May 31, 2020
and by making payments totaling US$3.2 million which are primarily
due at that time.
Figure 1. TDEM Stations at
Salinitas Brine Project
Rapid Lithium Brine Extraction
Technology
MGX has developed a rapid lithium
extraction technology eliminating or greatly reducing the physical
footprint and investment in large, multi-phase, lake sized, lined
evaporation ponds, as well as enhancing the quality of extraction
and recovery across a complex range of brines as compared with
traditional solar evaporation. This technology is applicable to
petrolithium (oil and gas wastewater), natural brine, and other
brine sources such as lithium-rich mine and industrial plant
wastewater. The technology was recently chosen as winner of the
Base and Specialty Metals Industry Leadership Award at the 2018
S&P Global Platts Global Metals Awards, held in London in May
(see press release dated May 18,
2018).
Qualified
Person
Andris Kikauka (P. Geo.), Vice
President of Exploration for MGX Minerals, has prepared, reviewed
and approved the scientific and technical information in this press
release. Mr. Kikauka is a non-independent Qualified Person within
the meaning of National Instrument 43-101 Standards.
About MGX
Minerals
MGX Minerals is a diversified Canadian
resource company with interests in advanced material and energy
assets throughout North America. Learn more at www.mgxminerals.com.
Contact Information
Jared Lazerson
President and CEO
Telephone: 1.604.681.7735
Web: 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.
Forward-Looking
Statements
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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