(via Thenewswire.ca)
VANCOUVER, BRITISH COLUMBIA / TheNewswire / February 29, 2016 / MGX Minerals Inc. ("MGX" or the "Company") (CSE: XMG / FKT: 1MG) is pleased to announce, further to its February 23rd press release, the Company has engaged Cementation AG (Above Ground Division) for the process and pilot plant engineering of a 20,000 barrel per day (bpd) lithium, potassium and magnesium extraction plant. The plant is projected to produce up to 500 tonnes of lithium carbonate annually and provide sufficient data for development of a large scale commercial facility. Engineering work has commenced on an initial scoping study for the pilot plant and completion is expected within four weeks with the scope of work to include process and plant design as well as OPEX and CAPEX projections.
Cementation AG
Cementation AG holds expertise in the handling and processing of industrial and energy minerals from scoping study through construction, operations, and maintenance. The lithium plant engineering team is being led by Cementation AG's process engineers with extensive experience in process design, metallurgy and operations. Cementation AG process engineers have supported projects with Suncor, Intrepid Potash, Copper Mountain, Rio Tinto, Phelps Dodge, Hudbay Minerals, and others.
"We have confidence that Cementation AG has the expertise to bring our Alberta Lithium Fields project to the development and operational phases. Cementation AG's process engineers hold a unique understanding of brine chemistry and the oil industry necessary to successfully design Canada's first lithium brine facility," stated MGX Chief Executive Officer Jared Lazerson.
Lithium Properties
MGX Minerals has entered into a Purchase Agreement to acquire a 100% undivided interest in 12 Metallic and Industrial Mineral Permits and Permit Applications encompassing 96,000 hectares throughout the Province of Alberta.
The Properties were acquired based on compilation of historic oil and gas well data and known geology. Lithium, potassium and magnesium rich brines have been identified with historic levels of lithium reported up to 140 Mg/L. This is the highest reported levels of lithium for existing wells in the Province as reported in the provincial industrial mineral database.
Qualified Person
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 Cementation AG
Cementation is a wholly owned subsidiary of Murray & Roberts. Murray & Roberts is a leading engineering and construction services company headquartered in Johannesburg, South Africa, and is listed on the JSE Limited. It has offices in South Africa, Namibia, Botswana, Mozambique, Zambia and Ghana, the United Emirates, Australia and South Korea, Scotland, Canada, the USA and Chile. Cementation AG was formed to complement the Cementation Underground Group as well as pursue other bulk material handling and minerals processing opportunities globally.
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 the Driftwood Creek magnesium project located in the East Kootenay Region of British Columbia. MGX has recently received approval of a 20 year mining lease for Driftwood and bulk sampling is currently underway. For further information, please visit the Company's website at www.mgxminerals.com.
Contact Information
Jared Lazerson
Chief Executive Officer
Telephone: 604.681.7735
Email: jared@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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