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MGX completes 100-tonne bulk sampling at Driftwood

MGX Minerals Inc. said on Thursday it has completed a 100-tonne bulk sample at the company's flagship Driftwood Creek magnesium project

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Bulk-sampling at Driftwood done

MGX Minerals Inc. (CNSX:XMG) said on Thursday it has completed a 100-tonne bulk sample at the company's flagship Driftwood Creek magnesium project.

The company which has entered the lithium mining and processing sector, said that on June 8, 24 vertical holes with alternating depth of 30 and 40 feet were loaded to seven feet from the drill hole collars with AMEX explosives. The charges were set at the approximate centre of the east zone at Driftwood. Detonation was by time delay fuse and occurred at 11:45 p.m. MT, resulting in a successful and complete blast.

"We are excited to have entered the bulk sample phase at Driftwood Creek," said MGX president and chief executive officer Jared Lazerson. "The potential to prove up the certainty component of the upcoming maiden National Instrument 43-101 resource estimate is significant. As well, many of the mine operating costs, such as the amount of explosives required on a per-tonne basis, are now being defined."

Mucking and loading of material have commenced in preparation for assay, advanced metallurgy and kiln testing. Kiln testing will produce representative multi-tonne samples for distribution to prospective customers in Canada, United States and Europe.

Since acquiring the project in July 2014, MGX has completed two diamond drill programs, property-wide sampling and reanalysis of historical drill core. Magnesite mineralization has been traced over a strike length of 2,000 metres and up to 300 metres wide, reaching a true depth of 110 metres. The deposit remains open in both directions and at depth. Mineralization occurs in two discrete zones that are believed to have been enriched during a period of metamorphic recrystallization. MGX was issued a 20-year mining lease by the Ministry of Energy and Mines of the Province of British Columbia in January.

MGX acquired Driftwood in 2014 and subsequently completed eight diamond drill holes on the east zone. Drill results included 49 metres of 43.04 per cent magnesium oxide (MgO) in drill hole 2014-2 and 47.6 metres of 41.43 per cent MgO in drill hole 2014-5. In 2015, the company reassayed historical drill core from previous optionee Tusk Exploration. Results included 130 metres of 42.46 per cent MgO in drill hole 2008-2. MGX also conducted a phase two drill programme over the western zone in 2015. Drill highlights included 64 metres of 40.71 per cent MgO in drill hole 2015-3 and 98 metres of 44.28 per cent MgO in drill hole 2015-4.

Historical exploration at Driftwood dates back to the 1970s, when Kaiser Resources conducted exploration and mined an 8,000-metric-tonne test quarry in 1978. In 1987, Canadian Occidental acquired Driftwood and drilled four NQ-sized diamond drill holes, and as well as collecting 68 core samples weighing five kilograms each.

Driftwood Creek magnesium

MGX Minerals has the right to acquire a 100-per-cent interest in the Driftwood Creek magnesium project. The company has completed phase one and phase two drill programs at Driftwood Creek, and has now conducted a 100-tonne bulk sample program. MGX received a 20-year mining lease for Driftwood Creek in January.

Quick facts: MGX Minerals Inc.

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CSE:XMG
Market: CSE
Market Cap: $9.83 m
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