MGX Minerals Inc (CNSX:XMG) operates lithium, magnesium and silicon projects throughout British Columbia, but its flagship project is the magnesite deposit at Driftwood Creek. CEO Jared Lazerson told Proactive Investors Driftwood Creek is a “quite large, global scale deposit”. Magnesite is a basic mineral that can be processed into magnesium oxide, which is a widely used industrial mineral.
The company expects to have its NI 43-101-compliant mineral resource estimate done and dusted by the end of July or early August, paving the way for it to progress to the permitting and mine planning phase. Lazerson said he “does not really see a lot of obstacles” to progress, just a lot of paperwork, and he looks forward to “some level of production within the year”. The company recently secured an intriguing “try before you buy” deal on a processing plant that will enable the company to further its test mining and final process design. “It’s really a significant step towards the transition from exploration into active mining operations,” Lazerson said.