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MGX Minerals Reports Maiden N.I. 43-101 Resource Estimate for Driftwood Creek Magnesium Project
Sep. 06, 2016 10:30AM PST
Magnesium Investing
VANCOUVER, BRITISH COLUMBIA – September 5, 2016 – MGX Minerals (CSE:XMG) is pleased to announce a maiden National Instrument (N.I.) 43-101 compliant mineral resource estimate for its Driftwood Creek magnesium project (“Driftwood Creek”).
VANCOUVER, BRITISH COLUMBIA – September 5, 2016 – MGX Minerals (CSE:XMG) is pleased to announce a maiden National Instrument (N.I.) 43-101 compliant mineral resource estimate for its Driftwood Creek magnesium project (“Driftwood Creek”).
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
The resource estimate was prepared by Mr. Allan Reeves. Mr. Reeves is a Professional Geologist and independent Qualified Person (QP) as defined by N.I. 43-101 Standards of Disclosure for Mineral Projects. He has over 35 years of industry experience and spent 23 years at BHP Billiton where he held senior-level positions at both the Ekati Diamond Mine and Island Copper Mine.
| Class | Tonnes x1000 | MgO% | Al2O3% | CaO% | Fe2O3% | SiO2% | LOI% |
| Measured | 2,828 | 43.34 | 1.08 | 0.90 | 1.39 | 5.19 | 47.16 |
| Indicated | 5,200 | 43.29 | 1.17 | 0.80 | 1.35 | 6.17 | 46.40 |
| M+I | 8,028 | 43.31 | 1.14 | 0.84 | 1.36 | 5.82 | 46.67 |
| Inferred | 846 | 43.20 | 1.30 | 0.47 | 0.51 | 6.87 | 45.09 |
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