MGX Minerals Inc pushing on with exploration projects
Last updated: 10:16 30 Jun 2016 EDT, First published: 05:16 30 Jun 2016 EDT
Earlier this month, the firm said it had received a technical report regarding its Alberta lithium properties which proposes a two-part verification process that could cost C$600,000 to carry out
MGX Minerals Inc (CSE:XMG) reported a loss of C$1.1mln for the nine months to April 30 against a loss of C$300,000 for the same period of 2014, as it continues exploration activities on its licences.
Earlier this month, the firm said it had received a technical report regarding its Alberta lithium properties which proposes a two-part verification process that could cost C$600,000 to carry out.
The company also recently completed a 100-tonne bulk sample at its flagship Driftwood Creek magnesium project, and has continued exploration and development activities in accordance with its acquisition conditions.
The National Instrument (NI) 43-101-compliant technical report shows that historical formation water geochemical analyses within MGX's Properties contain up to 140 mg/L Li, which is equivalent to the highest lithium-enriched brine samples documented to date in Devonian aquifers of the Western Canada Sedimentary Basin.
