MGX Minerals Files Maiden N.I. 43-101 Resource Estimate for Driftwood Creek Magnesium; Commences Preliminary Economic Assessment

MGX Minerals

VANCOUVER , Sept. 27, 2016 /CNW/ – MGX Minerals (CSE:XMG) reports the Company has filed on SEDAR a National Instrument (N.I.) 43-101 technical report (the “Report”) for its Driftwood Creek magnesium project (“Driftwood Creek”). The Report includes a maiden N.I. 43-101 compliant mineral resource estimate for Driftwood Creek.

The Company has commenced work on a N.I. 43-101 compliant Preliminary Economic Assessment (“PEA”) for Driftwood Creek and expects completion before the end of 2016. The PEA is being prepared by AKF Mining Services Inc.

Highlights

  • Measured plus Indicated (M+I) mineral resource totaling 8.028 million tonnes grading 43.31% magnesium oxide (MgO)
  • Inferred mineral resource totaling 846,000 tonnes grading 43.20% MgO
  • Bulk of resource is located less than 100 meters from surface
  • Opportunities to expand mineral resource along strike and at depth with additional drilling

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