leadf
logo-loader
viewMGX Minerals Inc.

MGX Minerals issues sampling, exploration updates from Heino Gold and Tillicum

Two 150-kilogram samples from the Heino-Money Gold Zone and East Ridge Zone have been sent for gold and silver metallurgical testing by ALS Canada

People wearing jackets at an MGX project
The Heino-Money project in British Columbia has had 100 surface holes drilled totaling 7,060 meters and 9 underground holes totaling 177 meters

MGX Minerals Inc (CSE:XMG) (OTCMKTS:MGXMF) told investors Thursday that samples from its Heino Gold Deposit and Tillicum Claims were submitted for testing. 

Two 150-kilogram samples from the Heino-Money Gold Zone and East Ridge Zone have been sent for gold and silver metallurgical testing by ALS Canada at the recommendation of SRK Consulting. 

The company said a total of 3.9 kilometers of magnetometer survey have been completed to further delineate and detail the extension of Heino and East Ridge Zones.

READ: MGX Minerals reveals gold assay results of up to 6 ounces per tonne from Heino gold deposit

Elsewhere, 25 soil samples have been taken from a 200-by-300 meter area east of Tillicum Mountain for assay, the results of which are expected shortly, the company said.

MGX added that the notice of work for a 3,000-meter drill program has received preliminary review by the British Columbia Ministry of Mines and was found to have no known archaeological sites within the proposed work area.

The company is reviewing proposals for helicopter light detection and ranging (LiDAR) as well as satellite hyperspectral and synthetic radar mapping, as recommended by SRK. Both would provide data to help identify surface mineralization, related structures and existing infrastructure. The helicopter proposal would also provide a magnetometer survey, MGX said, and is likely to be the chosen method.

The Heino-Money project in British Columbia has had 100 surface holes drilled totaling 7,060 meters and nine underground holes totaling 177 meters, according to a report by SRK Consulting.

Heino-Money was active between 1981 and 1993 and produced around 5,800 tons of gold and silver ore.

Contact Andrew Kessel at [email protected]

Follow him on Twitter @andrew_kessel

Quick facts: MGX Minerals Inc.

Price: 0.06 CAD

CSE:XMG
Market: CSE
Market Cap: $8.42 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of MGX Minerals Inc. named herein, including the promotion by the Company of MGX Minerals Inc. in any Content on the Site, the Company receives...

FOR OUR FULL DISCLAIMER CLICK HERE

Full interview: MGX Minerals prepares for delivery of equipment to start...

MGX Minerals (CSE: XMG-OTCQB: MGXMF) CEO and President Jared Lazerson joined Steve Darling from Proactive Vancouver to bring news the company is preparing to start, along with their partner Eureka Resources, to recover lithium from water produced at non-conventional oil and gas...

on 08/26/2019

2 min read