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MGX Minerals enters "try before you buy" arrangement over plant mill

The mill was previously used to process polymetallic concentrate.

Lorry.
MGX has dispatched a contractor to transport all equipment to the stock pile location of the company’s recently completed bulk sample

MGX Minerals Inc (CNSX:XMG) has entered a “try before you buy” arrangement with CMC Metals Ltd (CVE:CMB) over a full-scale pilot plant mill in Yukon.

The mill is currently in care and maintenance mode. Its equipment includes a jaw crusher, ball mill, flotation cells, cyclone de-watering equipment and a tailings filtration and thickener system.

MGX, should it take up the option to purchase the mill, intends to use the facility to process bulk sample material through reverse flotation to produce two potentially saleable products: a high purity magnesite tailing and by-product silica sand float.

“MGX looks forward to commencing the pilot plant phase at Driftwood Creek and to begin producing representative and potentially saleable material,” said Jared Lazerson, president and chief executive of MGX.

MGX has been granted a 20-year mining lease for the Driftwood Creek magnesium project, and has the right to acquire a 100% interest in the asset. It has already completed a Phase I and Phase II drill programme at Driftwood Creek and yesterday it revealed it had completed a 100-tonne bulk sampling at the project.

Quick facts: MGX Minerals Inc.

Price: 0.07 CAD

CSE:XMG
Market: CSE
Market Cap: $9.83 m
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on 08/26/2019

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