MGX Minerals Engages the Saskatchewan Research Council to Conduct Laboratory Testing of Lithium Brine Extraction from Oil Wells

VANCOUVER, BRITISH COLUMBIA / TheNewswire / September 12, 2016 / MGX Minerals (CSE:XMG)  is pleased to report the Company has engaged the Saskatchewan Research Council (“SRC”) to conduct lithium-enriched formation water testing. SRC will utilize the Company’s rapid brine production process (see press release dated June 6, 2016) to extract lithium and evaluate key aspects of the proprietary extraction method, which aims to reduce brine evaporation times by more than 99% versus standard solar evaporation. MGX will provide SRC with 200 liters of lithium-enriched brine from the Company’s Alberta lithium project to conduct the study with.
“MGX’s proprietary processing technology would be the first of its kind for extraction of lithium from producing and past producing oil wells. The immense scale of historical and current oilfield brine production in Alberta is well understood. If our process design performs as predicted we will help solve two critical problems, the lack of saleable lithium in the world, which has caused prices to increase tenfold in the past few years, and how to increase revenue per oil well for low oil, high brine production wells,” stated MGX President and CEO Mr. Jared Lazerson. Adding, “Any significant increase in revenue at the wellhead would have a major impact on the economics of the oil industry, that it may come from supplying the new energy industry with lithium is ideal.”
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