NetworkNewsBreaks – MGX Minerals Inc. (CSE: XMG) (FKT: 1MG) (OTCQB: MGXMF) Granted Approval for 3D Geophysical Survey of Blueberry Unit
Diversified resource and technology company MGX Minerals Inc. (CSE: XMG) (FKT: 1MG) (OTCQB: MGXMF) this morning announced that its operating partner has received approval from the State of Utah Division of Oil, Gas & Mining to conduct a 3D geophysical survey of the Blueberry Unit at its Paradox Basin petrolithium project. Per the update, the survey will outline subsurface geological formations and structures favorable for accumulations of oil and gas, as well as lithium brine-bearing formations. The company’s Paradox Basin project, which comprises over 110,000 acres of oil and gas leases and 118,000 acres of largely overlying mineral claims, is being simultaneously explored for oil, gas, lithium and other brine materials, positioning it as the first large scale integrated petroleum and lithium exploration project in the United States.
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