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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