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MGX Minerals Completes Trenching at Salinitas Lithium Project, Salta Province, Argentina; Drills Targets Identified

2018-10-08 08:30 ET - News Release

VANCOUVER, BC / ACCESSWIRE / October 8, 2018 / MGX Minerals Inc. ("MGX" or the "Company") (CSE: XMG; OTCQB: MGXMF; FSE: 1MG) reports that joint-venture partner A.I.S. Resources ("A.I.S.") (AIS) has received the final TEM Geophysics report from Quantec. The report includes a detailed analysis and interpretation of the TEM profiles. Two major aquifer structures based on low resistivity have been identified.

A.I.S. Exploration Director and CEO, Phil Thomas, undertook a 20 trench sampling program using a 321C Caterpillar excavator to trench down to 5 metres at each point selected at the Salinitas JV Project in the Salinas Grandes Salar, Salta Province, Argentina. The objective was to identify the types of sediments with a specific resistivity close to the surface and identify the porosity of this unit, eg stratigraphic units of green-grey clays, sand, black volcanic sands or brown clays. The black sands have a porosity of 22-32% +/- 3%.

Preparations have commenced to start a drilling program in the next two weeks subject to drill rig availability. Some drill pad preparation and roads have been upgraded and drill rig fluid pits have been dug at trench site 12 and 18 in preparation for drill hole 1, and if successful, drill hole 2.

Image: https://www.accesswire.com/users/newswire/images/513578/6fdc8333-8ee0-4d2b-a256-82460b2a6491.jpeg

Figure 1. The above 1D model at 2.5 Hz shows the two very low resistivity areas at a depth of 300-500m (located by yellow circles). The black sands/gravels were encountered trenching at UTM 802000 which is the relationship we were seeking to correlate. The geophysics data was changed to 0 to 20 ohm-m, rather than 0 to 100, and was modified in order to better highlight zones of very low resistivity and to better differentiate the resistivity within the 0 to 10 ohm-m range.

Image: https://www.accesswire.com/users/newswire/images/513578/e94de607-9407-463b-9fcd-e3b463132c95.jpeg

Figure 2. The above schematic shows a very low resistivity zone, possibly a lithium rich aquifer in black volcanic sands given the trenching correlation. The red triangle is the trenching locations.

Image: https://www.accesswire.com/users/newswire/images/513578/ddea41e9-6553-403c-845d-0cb14d93defd.jpeg

Figure 3. Above is the second zone of low resistivity, where there is large area approximately 2km wide by 150 metres in thickness in what is interpreted to be paleochannels.

Image: https://www.accesswire.com/users/newswire/images/513578/27c9ba7a-4317-4d6f-b82c-e5bd71362488.jpeg

Left: Shows the significant amount of brine that flowed into the 5m x 4m x 4m pit, some 36,000 litres within 18 hours. Center: shows the transition from the green-gray clay possibly montmorillite into black sands starting to show through. Right: shows the black sands unit with brine flowing into it.

About the Salinitas Lithium Brine Project

The Salinitas tenements are located in the lithium triangle at the Salar de Salinas Grandes, in the Province of Salta. The 4,308 hectare contiguous land package resides in the Puna region of northwest Argentina near the border of Chile, an area renowned for its lithium- and potassium-rich brine resources. MGX has partnered with A.I.S. Resources (AIS) on the Project and is currently earning an undivided 80% interest by incurring total exploration expenditures of at least US$1.2 million by May 31, 2020 and by making payments totaling US$3.2 million which are primarily due at that time.

Rapid Lithium Brine Extraction Technology

MGX has developed a rapid lithium extraction technology eliminating or greatly reducing the physical footprint and investment in large, multi-phase, lake-sized, lined evaporation ponds, as well as enhancing the quality of extraction and recovery across a complex range of brines as compared with traditional solar evaporation. This technology is applicable to petrolithium (oil and gas wastewater), natural brine, and other brine sources such as lithium-rich mine and industrial plant wastewater. The technology was recently chosen as the winner of the Base and Specialty Metals Industry Leadership Award at the 2018 S&P Global Platts Global Metals Awards, held in London in May (see press release dated May 18, 2018).

Qualified Person

Andris Kikauka (P. Geo.), Vice President of Exploration for MGX Minerals, has prepared, reviewed and approved the scientific and technical information in this press release. Mr. Kikauka is a non-independent Qualified Person within the meaning of National Instrument 43-101 Standards.

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.

Contact Information

Jared Lazerson
President and CEO
Telephone: 1.604.681.7735
Web: www.mgxminerals.com

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accept responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

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.

SOURCE: MGX Minerals Inc.

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