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MGX Minerals (CSE:XMG) announced assay results from the final eight holes of Phase II drilling at its flagship Driftwood Creek magnesium project located 50 kilometers south of Golden, British Columbia.
MGX Minerals (CSE:XMG) announced assay results from the final eight holes of Phase II drilling at its flagship Driftwood Creek magnesium project located 50 kilometers south of Golden, British Columbia.
As quoted in the press release:
The Phase II drill program spanned 1,102.5 meters across 12 holes. These results, when analyzed along with the first four holes, confirm significant continuity of magnesite mineralization within the Western Zone and also suggests that mineralization may extend further at depth than delineated by historic drilling (see discussion below).
Drill holes were spaced approximately 50 meters apart in an effort to prepare for the upcoming N.I. 43-101 compliant maiden resource estimate, which will encompass both the Western and Eastern zones at Driftwood Creek. Geochemical analysis results from drill holes 5-12 are reported below:
Discussion of Results
Results from seven holes drilled in 2008 (692 meters) and 14 drill holes in 2015 (1,102.5 meters) indicate that the Western magnesite zone follows the crest of a west-northwest trending ridge covering an area of approximately 200×400 meters.
Mineralized magnesite zones (Eastern and Western) at Driftwood Creek have the potential to further extend south in the area of the magnesite cliffs. These cliff areas to the south are probable locations for further drill testing in the future to further extend known limits of magnesite mineralization, as well as east-southeast and west-northwest extension because the zone is open in both directions of strike. Preliminary data suggests the magnesite zones dip steeply north and south. Efforts have been directed at intersecting magnesite by drill parallel inclined holes placed perpendicular to the known strike of the west-northwest mineral trend.
Magnesite is the most common rock type encountered in drill holes at Driftwood Creek. Dolomite, argillaceous dolomite and minor quartzite/chert rock types are also encountered in drill holes, but are not listed in the table of results above. Magnesium oxide values in dolomite, argillaceous dolomite and minor quartzite/chert range from 7.18-42.8 %MgO (high values in this case occur are isolated magnesite lenses within wider sections of dolomite).
Some historic holes (e.g. 2015-10) were stopped short of projected target depth due to bad ground conditions in a fault, but overall the magnesite zones are characterized by a high degree of competency with good to excellent RQD (75-100%). The 2015 drill results will be subjected to further quality control scrutiny and compiled with previous drill core analysis results in order to produce maps and reports of relevant data.
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