VANCOUVER, British Columbia, Nov. 16, 2017 — MGX Minerals Inc. (“MGX” or the “Company”) (CSE:XMG) (FKT:1MG) (OTCQB:MGXMF) is pleased to report that joint venture partner Power Metals Corp. (“Power Metals”) is nearing completion of the 5,000 metre drill program at Case Lake Lithium. Forty-four holes have been completed to date. The program has been extended and five more shallow holes are planned for a total of 49 drill holes (See Figure 2 below).
Photos accompanying this announcement are available at
MGX lithium assets now include control over 2 million acres of lithium brine property in North America, 100,000 acres of oil and gas leases covering its Utah Petrolithium Project, patented and proprietary commercial scale rapid lithium brine extraction technology and a joint venture with Power Metals covering Case Lake and four other Ontario lithium hard rock projects.Recent completion of drill hole #40 (PWM-17-40) at Case Lake Lithium intersected 37.7 m of continuous pegmatite, intersecting the spodumene zone from 20.0 to 35.83 m (interval of 15.83 m) with up to 30% spodumene in the quartz core (see Figure 1). Assays are pending for the majority of holes, but examination of the drill core by Power Metals indicates that spodumene mineralization in the dykes is thick and close to surface.Highlights of the drill program and assays to date include:PWM-17-08: 1.94% Li2O and 323.75 ppm Ta over 26.0 mPWM-17-09: 1.23% Li2O and 148.0 ppm Ta over 16.0 mPWM-17-10: 1.74% Li2O and 245.96 ppm Ta over 15.06 mMain Dyke spodumene pegmatite zone extended 250 m to the WestThe Power Metals prospecting program successfully discovered spodumene mineralization in the East Dyke and Northeast Dyke. Two grab samples of spodumene-muscovite-K-feldspar-quartz pegmatite from the East Dyke were analyzed with up to 2.56% Li2O and up to 181 ppm Ta (Table 1). This preliminary prospecting and assays on the East Dyke indicate that high grade spodumene similar to that on the Main Dyke exists on the East Dyke.
Table 1. Grab sample assays from East Dyke (NAD 83, Zone 17).MGX and Power Metals are planning a 2,000 metre drill program on the Northeast Dyke in January 2018 and are in the final steps of contracting an industry leading metallurgist who is experienced in working with spodumene pegmatites. Upon receipt of final assay results, an analysis of the initial characterization of the spodumene in the Main Dyke will be undertaken along with other metallurgical testing.Dr. Selway, Power Metals VP of Exploration stated, “I am pleased that our drill program on the North and Main Dykes successfully intersected thick high-grade intervals of spodumene pegmatite and I look forward to receiving the assay results from the Main Dyke drill holes and planning the upcoming drill program on the Northeast Dyke.”Quality Control
The grab samples were delivered to Actlabs preparation lab in Timmins by Power Metals’ geologists. The core was crushed and pulverized in Timmins and then shipped to Actlabs analytical lab in Ancaster which has ISO 17025 certification. The ore grade Li2O% was prepared by sodium peroxide fusion with analysis by ICP-OES with a detection limit of 0.01% Li2O.
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