MGX Minerals Inc. (CSE:XMG) (“MGX” or the “Company”) is pleased to provide an update on North and South American lithium operations.
In North America, the Company reports completion of brine analysis and pilot plant processing of samples originating from an industrial wastewater stream and geothermal lithium brine samples. The Company’s investment bank Capstone Headwaters LLC is assisting in negotiations.
In South America, the Company has completed pilot plant testing on brine samples originating from multiple salars located in Chile. MGX has entered into a joint brine testing agreement with a number of South American mining companies. The parties are now working to identify potential joint-venture locations that will utilize the Company’s lithium extraction technology.
The Company’s rapid recovery process concentrates lithium, magnesium and other minerals from a variety of brines, including oil and gas wastewater, natural brine and industrial plant wastewater. The process uses a nano-filtration technology that utilizes a proprietary design process currently covered under patent and patent-pending applications.
MGX and its engineering partner PurLucid Treatment Solutions Inc. (“PurLucid”) have integrated this rapid recovery design process with PurLucid’s exclusively licensed and patented nanoflotation technology that purifies wastewaters. Combined, this technology can be utilized in a variety of different scenarios, ranging from oilfield operations to municipality treatment centers, or as standalone lithium and mineral extraction units with clean water by-product.
The technical portions of this press release were prepared and reviewed by Andris Kikauka (P. Geo.), Vice President of Exploration for MGX Minerals. Mr. Kikauka is a non-independent Qualified Person within the meaning of National Instrument (N.I.) 43-101 Standards.
MGX may decide to advance its projects into production without first establishing mineral resources supported by an independent technical report or completing a feasibility study. A production decision without the benefit of a technical report independently establishing mineral resources or reserves and any feasibility study demonstrating economic and technical viability creates increased uncertainty and heightens economic and technical risks of failure. Historically, such projects have a much higher risk of economic or technical failure.
About MGX Minerals
MGX Minerals is a diversified Canadian resource company with interests in advanced material and energy assets throughout North America. Learn more at www.mgxminerals.com.
President and CEO
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release contains forward-looking information or forward-looking statements (collectively “forward-looking information”) within the meaning of applicable securities laws. Forward-looking information is typically identified by words such as: “believe”, “expect”, “anticipate”, “intend”, “estimate”, “potentially” and similar expressions, or are those, which, by their nature, refer to future events. The Company cautions investors that any forward-looking information provided by the Company is not a guarantee of future results or performance, and that actual results may differ materially from those in forward-looking information as a result of various factors. The reader is referred to the Company’s public filings for a more complete discussion of such risk factors and their potential effects which may be accessed through the Company’s profile on SEDAR at www.sedar.com.