VANCOUVER, Dec. 27, 2018 /CNW/ - MGX Minerals Inc.
("MGX" or the "Company") (CSE: XMG / FKT: 1MG / OTCQB:
MGXMF) is pleased to provide an update for its REN Niobium-Tantalum-Titanium-REE Mineral Property ("Ren" or the "Property")
located in the northern Monashee Mountains of southeastern British Columbia. The Company has now
received assay results from diamond drilling as well as field reconnaissance results from a regional geochemical sampling program
completed at REN.
Fall Drill Program Completed
A 14-hole, 1,249-meter drill program was completed at REN covering an area of approximately 200x600 meters in the
central portion of the mineral claims. The goal of the drill program was to test magnetic positive anomalies generated from a
magnetometer survey completed earlier this year. Results from the drill program returned positive niobium grades and wider than
expected zones. A total of 670 samples split core samples (at 2-meter intervals) were analyzed by ALS Geochemistry using method
ME-MS89L (sodium peroxide fusion, reporting 52 elements, as well as additional elements Zr and P). Results have now been compiled
and a follow up exploration program for 2019 is being developed. Assay results from select holes are reported below:
Table 1. REN 2018 Drill Hole Assays Results
|
DDH
|
From (m)
|
To (m)
|
Int (m)
|
Nb2O5 %
|
Ta2O5 %
|
*TREO %
|
P%
|
FeO %
|
TiO2 %
|
MnO %
|
|
18RE 1
|
3.28
|
3.58
|
0.3
|
0.16
|
0.002
|
0.16
|
>1
|
4.36
|
0.292
|
0.59
|
|
18RE 1
|
10.48
|
20.5
|
10.02
|
0.13
|
0.002
|
0.18
|
>1
|
6.82
|
0.62
|
0.49
|
|
18RE 2
|
6.56
|
10
|
3.44
|
0.04
|
0.001
|
0.09
|
0.29
|
6.1
|
0.75
|
0.14
|
|
18RE 3
|
29.5
|
33.5
|
4
|
0.18
|
0.003
|
0.14
|
>1
|
4
|
0.07
|
0.47
|
|
18RE 4
|
3.6
|
13
|
9.4
|
0.19
|
0.004
|
0.15
|
>1
|
5.1
|
0.22
|
0.34
|
|
18RE 5
|
2.6
|
3.7
|
1.1
|
0.11
|
0.002
|
0.22
|
>1
|
7.01
|
0.47
|
0.37
|
|
18RE 5
|
6
|
10
|
4
|
0.21
|
0.003
|
0.35
|
>1
|
6.1
|
0.26
|
0.56
|
|
18RE 5
|
12.3
|
38
|
25.7
|
0.14
|
0.003
|
0.26
|
>1
|
5.9
|
0.31
|
0.6
|
|
18RE 6
|
2.5
|
6.9
|
4.4
|
0.1
|
0.005
|
0.17
|
>1
|
11
|
0.44
|
0.42
|
|
18RE 6
|
14.3
|
40
|
25.7
|
0.1
|
0.003
|
0.15
|
>1
|
6.65
|
0.54
|
0.42
|
|
18RE 7
|
4.8
|
16
|
11.2
|
0.13
|
0.003
|
0.25
|
>1
|
6.94
|
0.53
|
0.41
|
|
18RE 8
|
7.3
|
13.6
|
6.3
|
0.13
|
0.006
|
0.17
|
>1
|
10.2
|
0.97
|
0.39
|
|
18RE 8
|
17.4
|
21.8
|
4.4
|
0.09
|
0.003
|
0.18
|
>1
|
7.89
|
0.5
|
0.47
|
|
18RE 8
|
24
|
50
|
26
|
0.13
|
0.003
|
0.14
|
>1
|
6.22
|
0.52
|
0.4
|
|
18RE 9
|
7.5
|
9.6
|
2.1
|
0.24
|
0.002
|
0.15
|
>1
|
8.85
|
0.887
|
0.36
|
|
18RE 9
|
15.6
|
27.4
|
11.8
|
0.31
|
0.004
|
0.19
|
>1
|
10.62
|
0.66
|
0.48
|
|
18RE 9
|
32.3
|
64
|
31.7
|
0.15
|
0.003
|
0.11
|
>1
|
6.15
|
0.55
|
0.48
|
|
18RE 10
|
2.7
|
10
|
7.3
|
0.15
|
0.003
|
0.11
|
0.74
|
5.9
|
0.41
|
0.31
|
|
18RE 11
|
3.2
|
19.2
|
16
|
0.21
|
0.004
|
0.21
|
>1
|
11.12
|
0.58
|
0.53
|
|
18RE 11
|
22.7
|
54
|
31.3
|
0.13
|
0.003
|
0.14
|
0.9
|
6.34
|
0.47
|
0.43
|
|
18RE 12
|
3.3
|
48
|
44.7
|
0.17
|
0.003
|
0.16
|
>1
|
6.59
|
0.39
|
0.51
|
|
18RE 12
|
includes
|
|
|
|
|
|
|
|
|
|
|
18RE 12
|
10
|
14
|
4
|
0.35
|
0.003
|
0.21
|
>1
|
8.7
|
0.47
|
0.62
|
|
18RE 13
|
6
|
52
|
46
|
0.13
|
0.003
|
0.15
|
>1
|
7.1
|
0.4
|
0.46
|
|
18RE 14
|
2.7
|
4
|
1.3
|
0.11
|
0.002
|
0.42
|
0.35
|
7.76
|
0.58
|
0.44
|
|
18RE 14
|
4
|
28
|
24
|
0.043
|
0.001
|
0.29
|
0.46
|
6.74
|
0.44
|
0.35
|
|
18RE 14
|
28
|
36.4
|
8.4
|
0.14
|
0.003
|
0.18
|
>1
|
6.8
|
0.37
|
0.53
|
|
18RE 14
|
40
|
69.5
|
29.5
|
0.14
|
0.004
|
0.12
|
>1
|
5.54
|
0.42
|
0.35
|
*: Geochemical analysis of Total Rare Earth Oxides("TREO") include: La2O3, Ce2O3,
Pr2O3, Nd2O3, Sm2O3, Eu2O3, Gd2O3, Tb2O3,
Dy2O3,Ho2O3, Er2O3, Tm2O3, Yb2O3, Lu2O3, and
Y2O3 (NOTE: Pm & Sc not analyzed). Neodymium Oxide is defined as Nd2O3 and expressed as a percent
out of the TREO content. The four most abundant rare earth oxides that make up the TREO reported above are Cerium
(Ce2O3), Lanthanum (La2O3), Neodymium (Nd2O3) and Praseodymium
(Pr2O3).
DDH 18RE-1, 5, 6, 8, 9, & 14 contain 2.3-7.4 meter wide phyric textured pegmatite sills that are spatially associated with
adjacent Nb/REE bearing carbonatite. The pegmatite sills contain low grade Nb and REE values and cut the Nb/REE bearing
carbonatite. The distribution of Nb and REE will be evaluated by generating preliminary computer-generated, 43-101 compliant
resource estimates. Future drilling in the area of DDH 18RE-8, 9, 11, 12, & 13 is planned in order to assess the vertical and
lateral extent of the wider and higher-grade intervals.
Figure 1. Drill core from REN drill program
Regional Geochemical Sampling Program
Highlighted results from the geochemical sampling program are reported below:
- 2,540ppm Niobium in sample Y098697
- 1,885ppm Niobium in sample Y098745
- 19.10ppm Dysprosium in sample Y098731
- 44.4ppm Tantalum in sample Y098746
- 1.15% Titanium in sample Y098660
Field reconnaissance was conducted by the Company's N.I. 43-101 Qualified Person Andris Kikauka. Rock chip samples were
collected and submitted to ALS Minerals in North Vancouver, British Columbia for chemical
analysis using XRF whole rock analysis for oxides.
About REN
REN lies within the Shuswap Metamorphic Complex, a belt of high-grade and intensely deformed metamorphic and intrusive
rocks in the core of the Columbian Orogen in southeastern B.C. The Shuswap Complex, along its eastern margin, is characterized by
a series of fault-bounded domal culminations that expose mixed paragneiss, granitic gneiss and migmatite of Paleoproterozoic age.
Unconformably overlying the gneissic "core complexes", a heterogeneous and very distinctive assemblage of calc-silicate gneiss,
pelitic gneiss, quartzite and marble. The Mount Grace carbonatite, intrusive carbonatites and bodies of synenite gneiss occur
within autochthonous paragneiss above the core gneisses of the Frenchman Cap dome. There are two types of carbonatite recognized
in the area. Type I, the intrusive phase and Type II, the extrusive phase. Although rarely seen in contact, the Type I
carbonatite has been proposed as a feeder to the widespread Type II pyroclastic flow represented by the Mount Grace carbonatite
(Hoy, 1987).
All regional tantalum, niobium and rare earth occurrences of record are associated with the intrusive Type I phase. The Type
II phase rarely if ever carries minerals of economic importance. The Type I carbonatite (known as the REN carbonatite) is located
on the Ren property. The carbonatite is a semi-concordant sheet like intrusion and has been traced by mapping and trenching for
approximately three kilometers. It varies in width from less than 10 to 200 metres. The carbonatite strikes generally
northwest-southeast and dips from 25 to 45 degrees southwest. The rock weathers to a rough textured, mottled orange brown color.
It consists of 60-80% calcite, 10-30% apatite, biotite/phlogopite, and accessory amphibole, pyroxene, and sphene with minor
pyrrhotite, pyrite, magnetite, ilmenite, molybdenite, chalcopyrite, pyrochlore and monazite. Extensive zones of mafic
biotite-rich pyroxene-amphibole fenite and potassic feldspar-albite fenite occur as alteration envelopes peripheral to and within
the carbonatite. northwest with axial surface and both limbs dipping 30 to 45 degrees to the southwest. The tabular Type I REN
carbonatite is the unit of principal economic interest.
In 1988 Teck Explorations Limited completed stream silt sampling (89 samples) from four drainages, 17.85-line kilometers of
magnetometer surveying, 15.35-line kilometers of spectrometer/scintillometer surveying and 749 meters of trenching, mapped and
sampling. The best niobium values were from trench ATR-2 of 0.19% Nb over a width of 55 meters. Carbonatite that was excavated in
all trenches averaged 0.13% Nb. Cerium and lanthanum were all highly anomalous, but the values were not plotted. This data is
historic in nature and based on drilling results reported by previous operators. The Company believes this information, reports,
data and assays are reliable and relevant.
About Niobium
Niobium is mainly used in the form of Ferro-Niobium to produce high strength, low alloy steel which in turn produces
lighter, stronger steel for use in the automotive, structural and pipeline industries. The U.S. imports 100% of its niobium
needs. Niobium is listed as a strategic metal and is being considered for national stockpiling in the U.S., China, and several European countries.
Qualified Person
Andris Kikauka (P. Geo.), Vice President of Exploration for MGX Minerals, has prepared,
reviewed and approved the scientific and technical information in this press release. Mr. Kikauka is a non-independent Qualified
Person within the meaning of National Instrument 43-101 Standards.
About MGX Minerals Inc.
MGX Minerals is a diversified Canadian resource and technology company with interests in global advanced material,
energy and water assets.
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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