VANCOUVER, British Columbia, July 19, 2017 (GLOBE NEWSWIRE) -- MGX Minerals Inc. (“MGX” or the “Company”) (CSE:XMG) (FKT:1MG) (OTC:MGXMF) is pleased to report a nine hole diamond drill program is underway at the Company’s Longworth Silica Project (“Longworth”) in British Columbia. The drill program will target a near surface, 4.5-hectare mineralized zone known as the Snow Zone (“Snow Zone”) to a depth of 90 meters. Longworth is listed as one of the top silica occurrences throughout the Province of British Columbia by the BCGS (Simandl, 2014) and was previously controlled by Consolidated Silver Standard Mines (“Silver Standard”) for 25 years.
Exposed bedrock samples collected from the Snow Zone by MGX’s Vice-President of Exploration, Andris Kikauka (P. Geo). assayed up to 99.34% silicon dioxide (SiO2) ( see press release dated May 30, 2016 ). These levels are consistent with Silver Standard’s results and meet the chemical and thermal shock specifications required to be used as a primary feedstock for silicon metal smelting (Quartermain, 1986). End uses for silicon metal include semiconductors, solar panels and aluminum alloys.
The Snow Zone is part of the Company’s larger Longworth claim package that encompasses 1,198 hectares and consists of four distinct high purity quartzite zones across a collective strike length of 7,000 meters. Longworth is situated four kilometers from the Canadian National railroad mainline and power grid and accessible by a network of well-maintained logging roads.
Qualified Person
The technical portions of this press release were prepared and reviewed by Andris Kikauka (P. Geo.), Vice President of Exploration for MGX Minerals. Mr. Kikauka is a non-independent Qualified Person within the meaning of National Instrument (N.I.) 43-101 Standards.
About MGX Minerals
MGX Minerals is a diversified Canadian resource company with interests in petrolithium, magnesium and silicon assets throughout North America. Learn more at www.mgxminerals.com .
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This press release contains forward-looking information or forward-looking statements including the completion of the rights offering (collectively "forward-looking information") within the meaning of applicable securities laws. Forward-looking information is typically identified by words such as: "believe", "expect", "anticipate", "intend", "estimate", "potentially" and similar expressions, or are those, which, by their nature, refer to future events. The Company cautions investors that any forward-looking information provided by the Company is not a guarantee of future results or performance, and that actual results may differ materially from those in forward-looking information as a result of various factors. The reader is referred to the Company's public filings for a more complete discussion of such risk factors and their potential effects which may be accessed through the Company's profile on SEDAR at www.sedar.com.
Contact Information Jared Lazerson President and CEO Telephone: 1.604.681.7735 Web: www.mgxminerals.com
