14:22:24 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



MGX Minerals Inc
Symbol XMG
Shares Issued 122,655,926
Close 2018-07-30 C$ 0.87
Market Cap C$ 106,710,656
Recent Sedar Documents

MGX, Power Metals start tests on Case Lake bulk sample

2018-07-31 07:00 ET - News Release

Also News Release (C-PWM) Power Metals Corp

Mr. Jared Lazerson of MGX reports

MGX MINERALS COMMENCES LABORATORY BENCH-SCALE TESTING OF THERMOCHEMICAL PROCESS TO EXTRACT LITHIUM FROM SPODUMENE; CASE LAKE LITHIUM PROJECT BULK SAMPLE TESTING UNDERWAY

Orion Laboratories LLC and Light Metals International Inc. (LMI) have commenced laboratory bench-scale testing of a 10-kilogram bulk sample of spodumene-rich rock originating from MGX Minerals Inc. and Power Metals Corp.'s Case Lake lithium project in Ontario. The mineralized material is currently undergoing chemical and mineralogical homogeneity testing, with the objective of extracting lithium compounds and achieving a 95-per-cent-pure-spodumene concentrate. Results of testing performed to date by Orion and LMI indicate that this level of spodumene purity is achievable. Once bench-scale testing has been completed to a satisfactory level, additional mineral separation testing will be conducted to further develop the hydrothermal leaching processes in order to purify high-grade spodumene concentrate.

Spodumene concentrate technology

MGX, Orion and LMI are jointly developing and working to commercialize a new process for extracting hard-rock lithium from spodumene concentrate. LMI has developed a thermochemical technology to rapidly manufacture lithium carbonate (Li2CO3) and/or lithium hydroxide (LiOH) from a variety of spodumene (LiAlSi2O6 rich) concentrates. The method is modular and highly scalable, thereby enabling a small factory footprint and holds the potential to significantly decrease overall hard-rock lithium production costs. Unique features of the technology include:

  • Only three feedstock materials are required: (i) a spodumene concentrate, to produce high-purity Li2CO3 and/or high-purity LiOH; (ii) high-purity CO2, which is consumed in forming Li2CO3; and (iii) high-purity H2O, which is consumed in forming LiOH;
  • Creates three potentially saleable high-purity products: Li2CO3 and/or LiOH, aluminum hydroxide, Al(OH)3, and amorphous silica, SiO2;
  • Eliminates use of conventional sulfuric acid leaching;
  • Modular capabilities allow for scalable and remote deployment.

About the partnership

MGX has agreed to acquire an initial 50-per-cent interest in the technology and associated intellectual property in exchange for an initial cash payment of $250,000 (U.S.) and issuance of 100,000 common shares of the company. Initial proceeds will be utilized to complete bench-scale laboratory testing of the technology. Upon successful completion of laboratory testing, MGX has agreed to issue an additional 250,000 common shares. Should MGX elect to further proceed, the company will finance development of a modular manufacturing plant. Upon successful development and testing of that plant, MGX will have the option to issue an additional 500,000 shares to LMI, at which time a joint venture will be formed with MGX holding a 70-per-cent interest and LMI a 30-per-cent interest in the JV. MGX will have the option to purchase an undivided 100-per-cent interest in the JV at any time for $10-million, of which LMI will have the right to choose a combination of shares and cash as consideration.

Qualified persons

The technical portions of this press release were reviewed by Andris Kikauka (PGeo), vice-president of exploration for MGX Minerals. Mr. Kikauka is a non-independent qualified person within the meaning of National Instrument 43-101.

About MGX Minerals Inc.

MGX Minerals is a diversified Canadian resource company with interests in advanced material and energy assets throughout North America.

We seek Safe Harbor.

© 2024 Canjex Publishing Ltd. All rights reserved.