Critical Metals

As part of the formation of an alliance with Zimtu Capital (TSXV:ZC) and Electra Gold Corp. (TSXV:ELT), MGX Minerals (CSE:MXG) has entered a joint venture agreement to secure a 50 percent interest in the Longworth Silica Property. The alliance was created for the purpose of jointly developing industrial mineral properties.

As part of the formation of an alliance with Zimtu Capital (TSXV:ZC) and Electra Gold Corp. (TSXV:ELT), MGX Minerals (CSE:XMG) has entered a joint venture agreement to secure a 50 percent interest in the Longworth Silica Property. The alliance was created for the purpose of jointly developing industrial mineral properties.

As quoted in the press release, MGX can acquire a 50 percent interest in Longworth by:

  • Incurring $100,000 in exploration expenditures on the Property within twelve (12) months- including eight (8) diamond drill holes; and
  • Completion of a National Instrument (N.I.) 43-101 compliant mineral resource estimate within eighteen (18) months.

MGX CEO, Jared Lazerson, said:

Through this Alliance MGX has found uniquely qualified strategic partners that forms a cornerstone for continued rapid advancement of the Driftwood Creek magnesium property. Furthermore, the Alliance creates a multitude of opportunities for additional acquisition and development of near-term revenue generating opportunities in the industrial minerals sector starting with Longworth Silica.

Click here to read the MGX Minerals (CSE:MXG) press release
Click here to see the MGX Minerals (CSE:MXG) profile.

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