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MGX Minerals Inc
Symbol XMG
Shares Issued 140,385,960
Close 2021-10-07 C$ 0.045
Recent Sedar Documents

MGX Minerals puts REN project on the block

2021-10-07 12:21 ET - News Release

Mr. Andris Kikuaka reports

MGX MINERALS ANNOUNCES STRATEGIC NUCLEAR AND SPACE METALS REVIEW OF REN NIOBIUM - TANTALUM - TITANIUM - RUBIDIUM PROJECT, BRITISH COLUMBIA

MGX Minerals Inc. has a strategic review underway of its REN niobium-tantalum-titanium-rubidium project for nuclear and space metals. These metals are generally known for their high melting point and ability to withstand extreme heat. The previously explored REN property, located in British Columbia, was drilled by MGX in 2018. Results of the 14-hole, 1,249-metre drill program included a drill intersection of 44 metres of 1,700 parts per million niobium with tantalum, titanium and rubidium, see press release.

Niobium has both a high thermal conductivity and high melting point and is used in nickel superalloys for aerospace applications such as turbine blades and rocket components, as well as nuclear applications such as fuel and heat exchangers.

Fall 2018 drill program

As previously reported, a 14-hole, 1,249-metre drill program was completed at REN covering an area of approximately 200 by 600 metres in the central portion of the mineral claims. The goal of the drill program was to test magnetic positive anomalies generated from a magnetometer survey completed earlier this year. Results from the drill program returned positive niobium grades and wider than expected zones. A total of 670 samples split core samples (at two-metre intervals) were analyzed by ALS Geochemistry using method ME-MS89L (sodium peroxide fusion, reporting 52 elements, as well as additional elements Zr and P). Results have now been compiled with assay results from select holes reported in the associated table.

Qualified person

Andris Kikauka, PGeo, chief executive officer of 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 Inc.

MGX Minerals is a diversified Canadian resource and technology company with interests in advanced metals, industrial minerals and energy technologies.

We seek Safe Harbor.

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