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VANCOUVER, BRITISH COLUMBIA / TheNewswire / July 17, 2015 - MGX Minerals Inc. ("MGX" or the "Company") (CSE: XMG / FKT: 1MG) is pleased to provide an update on the Company's phase one exploration program at its White Moon magnesium project ("White Moon" or the "Property") located in San Bernardino County, California.
The White Moon land package consists of patented and unpatented BLM claims acquired in June 2015 (see press release dated June 18, 2015). The Company plans to explore, develop and operate a magnesium oxide (MgO) wallboard production plant in the nearby town of Needles, California. MGX management has commenced an internal study to evaluate the various logistical and engineering requirements of a proposed plant.
White Moon Rock Chip Sampling and Geologic Mapping
A total of 15 rock chip samples were collected from surface outcrops occurring throughout the Property. Rock sample interval lengths ranged from 0.5 to 3 meters. The samples will be sent to ALS Minerals ("ALS") in North Vancouver, British Columbia for ME-XRF-26 whole rock geochemical analysis. The Company has also completed geologic mapping at White Moon. Mapping coverage occurred across an area of approximately seven hectares and focused on outcrops occurring along the northwest-trending sedimentary bed unit where magnesite mineralization was identified in historic exploration work documented by the United States Geological Survey (USGS) (see DMG Open-File Report 85-18).
Captain Magnesite Prospect
MGX has also conducted limited exploration of the Captain magnesite prospect ("Captain"), which is located approximately three miles south of White Moon on adjacent BLM unpatented claims. Magnesite mineralization at Captain is exposed along two closely-spaced parallel bands that outcrop over a length of approximately 15 meters. Two small pits exist where magnesite ore was mined and stockpiled on site during the 1940's. Geologic mapping at Captain was conducted over a two hectare area and three rock chip samples from outcrops were collected over 1 to 1.5 meter intervals.
Qualified Person
Andris Kikauka, Vice President of Exploration for MGX Minerals, and a non-independent Qualified Person as defined by N.I. 43-101, has reviewed the information contained in this news release and has verified the data.
About MGX Minerals
MGX Minerals is a diversified Canadian mining company listed on the Canadian Securities Exchange (CSE: XMG). MGX is 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's flagship project is the Driftwood Creek magnesium project in the East Kootenay region of British Columbia. Development plans include construction of a quarry mine and processing plant to produce magnesium oxide. The Driftwood Creek project is currently under permitting review for granting of a mining lease and applications for associated operating permits are in various stages of preparation. MGX owns the majority of significant magnesite properties in the Province of British Columbia as reported by the British Columbia Geological Service.
For more information please visit the Company's website at www.mgxminerals.com.
Contact Information
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", "postulate" 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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