MGX Minerals Completes Trenching at Salinitas Lithium Project, Salta Province, Argentina; Drills Targets Identified
08 Outubro 2018 - 9:00AM
InvestorsHub NewsWire
MGX Minerals
Completes Trenching at Salinitas Lithium Project, Salta Province,
Argentina; Drills Targets Identified
Vancouver, BC --
October 8, 2018 -- investorsHub NewsWire -- MGX Minerals
Inc. (“MGX” or the “Company”) (CSE:
XMG / OTCQB:
MGXMF / FSE:
1MG)
reports that joint-venture partner A.I.S. Resources (“A.I.S.”)
(TSX.V: AIS) has received the
final TEM Geophysics report from Quantec. The report includes a
detailed analysis and interpretation of the TEM profiles. Two major
aquifer structures based on low resistivity have been
identified.
A.I.S. Exploration
Director and CEO, Phil Thomas, undertook a 20 trench sampling
program using a 321C Caterpillar excavator to trench down to 5
metres at each point selected at the Salinitas JV Project in the
Salinas Grandes Salar, Salta Province, Argentina. The objective was
to identify the types of sediments with a specific resistivity
close to the surface and identify the porosity of this unit, eg
stratigraphic units of green grey clays, sand, black volcanic sands
or brown clays. The black sands have a porosity of 22-32% +/-
3%.
Preparations have
commenced to start a drilling program in the next two weeks subject
to drill rig availability. Some drill pad preparation and
roads have been upgraded and drill rig fluid pits have been dug at
trench site 12 and 18 in preparation for drill hole 1, and if
successful, drill hole 2.
Figure 1. The
above 1D model at 2.5 Hz shows the two very low resistivity areas
at a depth of 300-500m (located by yellow circles). The black
sands/gravels were encountered trenching at UTM 802000 which is the
relationship we were seeking to correlate. The geophysics data was
changed to 0 to 20 ohm-m, rather than 0 to 100, and was modified in
order to better highlight zones of very low resistivity, and to
better differentiate the resistivity within the 0 to 10 ohm-m
range.
Figure 2. The
above schematic shows a very low resistivity zone, possibly a
lithium rich aquifer in black volcanic sands given the trenching
correlation. The red triangle is the trenching
locations.
Figure 3.
Above is the second zone of low resistivity, where there is large
area approximately 2km wide by 150 metres in thickness in what is
interpreted to be paleo channels.
Left: Shows the
significant amount of brine that flowed into the 5m x 4m x 4m pit,
some 36,000 litres within 18 hours. Center: shows
the transition from the green gray clay possibly montmorillite into
black sands starting to show through. Right: shows
the black sands unit with brine flowing into
it.
About the
Salinitas Lithium Brine Project
The Salinitas
tenements are located in the lithium triangle at the Salar de
Salinas Grandes, in the Province of Salta. The 4,308 hectare
contiguous land package resides in the Puna region of northwest
Argentina near the border of Chile, an area renowned for its
lithium- and potassium-rich brine resources. MGX has partnered with
A.I.S. Resources (TSX.V: AIS) on the Project and is currently
earning an undivided 80% interest by incurring total exploration
expenditures of at least US$1.2 million by May 31, 2020 and by
making payments totaling US$3.2 million which are primarily due at
that time.
Rapid
Lithium Brine Extraction
Technology
MGX has developed
a rapid lithium extraction technology eliminating or greatly
reducing the physical footprint and investment in large,
multi-phase, lake sized, lined evaporation ponds, as well as
enhancing the quality of extraction and recovery across a complex
range of brines as compared with traditional solar evaporation.
This technology is applicable to petrolithium (oil and gas
wastewater), natural brine, and other brine sources such as
lithium-rich mine and industrial plant wastewater. The technology
was recently chosen as winner of the Base and Specialty Metals
Industry Leadership Award at the 2018 S&P Global Platts Global
Metals Awards, held in London in May (see press release
dated May 18, 2018).
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
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.
Contact
Information
Jared Lazerson
President and CEO
Telephone: 1.604.681.7735
Web: 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.
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