Aiming to deploy its rapid lithium extraction technology right next to the world’s biggest lithium producers image: https://www.stockhouse.com/media/topstories/Misc/BOGNAR01_3.jpg
Salinas Grandes, one of the largest salt flats on the planet, is located in the high plains of the Atacama Desert in Argentinia, where the production of lithium is highly dependent on the weather. (Picture) With today’s news, MGX Minerals Inc. ventures the step to enter the world’s largest and richest lithium resources in South America. With the acquisition of a 4,308 hectares large land package from A.I.S. Resources Ltd. (TSX.V: AIS), MGX targets to deploy its award-winning rapid lithium extraction technology head to head with the biggest lithium producers in the world and close to the large production plants from Orocobre and Lithium Americas. In Alberta, Canada, the technology is currently being commercially deployed at several sites, with news expected shortly. While lithium has been produced traditionally via solar evaporation – a process that may take as long as 1 or 2 years, depending if weather permits – MGX has developed a technology that promises to extract lithium in a matter of hours.
At Salinas Grandes, LSC Lithium Corp. has delineated a massive (57 million m3) brine resource with average grades of 795 ppm lithium, translating into an estimate of 239,200 t of LCE (Lithium Carbonate Equivalent). Despite LCE market prices hovering around $15,000 USD/t, LSC Lithium has a current market valuation of around $100 million CAD as it is quite cost-intensive to go into production with such a large resource base.
What makes Salinas Grandes so special is that the lithium-rich brine occurs very close to surface, making exploration and development all the more attractive, in case a competitive and fast-trackable production method has been presented to the market. MGX plans to now conduct a geophysical resistivity survey on its property, right next to LSC Lithium, in order to define precise targets for subsequent drilling.
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MGX´s newly acquired properties from A.I.S. Resources Ltd. (highlighted in red) in Argentina´s Salinas Grandes basin.
Bottom Line The strategic decision to now move to the world’s largest and richest lithium resources, home to the biggest lithium producers, demonstrates MGX’s full intention, and readiness, to deploy its rapid lithium extraction in South America.
Most recently in mid-July, MGX entered into a joint venture with Belmont Resources Inc. in Nevada’s Kibby Basin (
see here). Drilling may start any day now and they will find out pretty fast if brine can be intersected near surface. MGX can earn up to 50% of the project and become the operator. The Kibby Basin is probably the most prospective basin in Nevada to host lithium-enriched brine and its sheer size is compelling: One of the best identified aquifers is interpreted to be 6 km long and 3.5 km wide, including a thick (up to 1 km) zone of very low resistivity, thus indicating the potential for high lithium grades.
With lithium projects in the heart of Canada’s oil and gas hub, currently being commercially deployed with news expected shortly, along with its new joint venture project in Nevada close to Tesla’s Gigafactory and today’s acquisition in Argentina, MGX is expanding in a strategically meaningful fashion to become the leading technology provider in the world’s most important lithium hubs.
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The
award-winning lithium extraction technology from MGX and its engineering partner PurLucid is not only rapid but also modular, making capital expenditures all the more attractive compared to the classic production method of solar evaporation.
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The colossal evaporation ponds and billions of dollars spent for lithium processing facilities in Argentina are set to be challenged by MGX and its rapid lithium extraction technology; below pictures show the Olaroz Lithium Production Facility from Orocobre and Toyota near the Salinas Grandes Property, of which MGX can earn an interest of up to 80% from
A.I.S. Resources Ltd., which company is headed by the infamous Martyn Element who enjoys exceptionally strong ties to the mining and finance industry.
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https://schrts.co/vHgP4v Company Details image: https://www.stockhouse.com/media/topstories/Misc/Bognar05_1.png
MGX Minerals Inc.
#303 - 1080 Howe Street
Vancouver, BC, Canada V6C 2T1
Phone: +1 604 681 7735
Email: jared@mgxminerals.com
www.mgxminerals.com Shares Issued & Outstanding: 122,655,926
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Chart Canadian Symbol (
CSE): XMG
Current Price: $0.88 CAD (07/24/2018)
Market Capitalization: $108 Million CAD
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