VANCOUVER, British Columbia, Feb. 23, 2018 (GLOBE NEWSWIRE) -- MGX Minerals Inc. (“MGX” or the
“Company”) (CSE:XMG) (FKT:1MG) (OTC:MGXMF) is pleased to announce the Company has chosen to proceed with its previously
announced partnership with Highbury Energy Inc. (“Highbury”) to develop a detailed thermochemical gasification
process to extract metals such as nickel, vanadium, cobalt and hydrogen from petroleum coke (“Petcoke”).
Petcoke samples were obtained from Alberta oil sands (Sample #1) and refinery (Sample #2) sales stockpiles of
available petcoke. Samples were analyzed by Acme Labs of Vancouver, British Columbia using standard ICP analyses. Results were as
follows:
| |
|
|
|
|
Sample |
Vanadium (V)
ppm |
Cobalt (Co)
ppm |
Nickel (Ni)
ppm |
| Sample #1 |
421 |
4.8 |
76.8 |
| Sample #2 |
458 |
1.3 |
53.4 |
| |
|
|
|
Further analysis of concentrate post-gasification ash samples is now underway with ash amounting to 3% of oil sands petcoke by
weight and less than 1% of the refinery petcoke sample. It is expected that the concentrations of metals will directly correspond
with the reduction in material, approximately 30x and over 100x, respectively. Analyses of the ash concentrate is expected
shortly.
A Phase II study is currently being completed by Highbury and will include analyses of potential site locations, inclusion of
pilot scale gasification, advanced metals extraction process design and initial plant design parameters.
Background
Petcoke is a carbon material by-product of the oil and gas industry that forms during the oil refining process. As refineries have
become more efficient at processing extra heavy crude oils (bitumen) over the last two decades, output of Petcoke globally has
risen significantly. Because Petcoke originates from heavier petroleum fractions, its denser impurities such as metals and sulphur
compounds are concentrate in it.
The majority of Canadian Petcoke output occurs in close proximity to oil sand producing regions, where bitumen is upgraded into
synthetic crude oil. Specifically, the Province of Alberta is known to host vast stockpiles of Petcoke. According to the Alberta
Energy Regulator, petcoke inventories are estimated to have reached 106 million tonnes in 2016(1).
(1) Source: Alberta Energy Industry, Alberta Mineable Oil Sands Plant Statistics
Qualified Persons
The technical portions of this press release were reviewed by Andris Kikauka (P. Geo.), Vice President of Exploration for MGX
Minerals. Mr. Kikauka is a non-independent Qualified Person within the meaning of National Instrument 43-101 Standards.
About Highbury Energy
Highbury Energy Inc. is an innovative energy company dedicated to the development and utilization of renewable energy resources
through the procurement and conversion of biomass. Highbury has developed a proprietary dual-bed steam gasification technology and
patented gas cleanup system that converts biomass into high-grade synthesis or fuel gas. This robust process produces a medium
calorific value gas from most types of organic matter, such as wood or agricultural wastes, without need of tonnage oxygen. The
cleaned synthesis gas can readily replace natural gas in industrial kilns and furnaces in the mineral, pulp & paper, glass, and
cement industries. Alternately, the syngas can fuel an internal combustion engine to make electricity, with waste heat used for
refrigeration, or district heating. Syngas can also be converted to high value low carbon liquid fuels such as diesel or jet
fuel, or into chemicals such as methanol or ethanol.
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.
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.
Contact Information Jared Lazerson President and CEO Telephone: 1.604.681.7735 Web: www.mgxminerals.com
