MGX Minerals Now Controls “Majority of Known Magnesite Occurences in BC”

MGX Minerals (CSE:XMG) has acquired mineral claims which cover seven known magnesite occurences in British Columbia. The company reported results of geochemical analysis from rock chip samples at its prospects.

As quoted in the press release:

Field reconnaissance and claim staking have now been completed on the following Prospects: Red Mountain (MINFILE No. 082KNE034), Topaz Lake (MINFILE No. 082KNE015), Dunbar Creek (MINFILE No. 082KNE036), Bott’s Lake (MINFILE No. 082KNE035), Cleland Lake (MINFILE No. 082KNE038), Mt. Assiniboine (MINFILE No. 082JNW014) and Mt. Eon (MINFILE No. 082JNW001). Additionally, the Company has staked the Anzac claim (MINFILE No. 093J 008) located near the Mt. Emmett project formerly explored by Norsk Hydro, the last producer of magnesium alloy in Canada. MGX now controls the majority of known magnesite occurrences in British Columbia as reported by the British Columbia Geological Survey (Simandl, 2014).

MGX president and CEO, Jared Lazerson, said:

We are now implementing our broader strategy of acquiring strategic land positions over known industrial mineral occurrences. We are particularly excited about the Red Mountain and Topaz Lake Prospects as they are located in close proximity to our flagship Driftwood Creek magnesite property and preliminary field results show similar magnesite grades.

Click here to read the MGX Minerals (CSE:XMG) press release