MGX Minerals Inc.
MGX Minerals is a diversified Canadian mining company focused on building shareholder value through the acquisition and development of industrial mineral deposits that offer near-term production potential, minimal barriers to entry and low initial capital expenditures. The Company operates magnesium, lithium and silicon projects in the mining-friendly Provinces of British Columbia and Alberta. MGX’s objective is to bring 7-10 industrial mineral mines online over next decade.
(1) Driftwood Creek Magnesium Project
MGX Minerals is building a North America's next magnesium oxide mine at Driftwood Creek. MGX recently received approval of a 20-year Mining Lease for its Driftwood Creek magnesium project located in southeastern British Columbia. The Company has conducted two rounds of diamond drilling and recently completed a 100-tonne bulk sample for metallurgy and resource estimate purposes. The Company controls a majority of magnesium properties throughout the Province as reported by the British Columbia Geological Survey (BCGS) (Simandl, 2014).
Cranbrook Mill Site Acquisition
Upcoming Driftwood Milestones
(2) Alberta Lithium Project
In early 2016 the Company identified opportunities to acquire and develop underexplored lithium brine properties throughout the Province of Alberta. Since that time the Company has consolidated a strategic land position spanning over 300,000 hectares, which includes 14 of the top 25 historical high grade lithium properties (>=90 mg/L lithium) as reported by the Alberta Geological Survey (AGS, 2013). A NI 43-101 Technical Report for MGX’s Lithium Brine Project in Alberta has been completed.
(1) All assays referenced are from the geoScout Oil & Gas Industry database as reported by well operators and monitored by the Government of Alberta
Scoping Study Results
(3) British Columbia Silicon Project
MGX also controls three high-grade silicon projects in British Columbia. Exploration work to date has identified elevated silicon dioxide (SiO2) levels at each project that compare favorably to other silica operators throughout the Province. Recent field reconnaissance by MGX reported SiO2 levels reaching up to 99.9%. The Company believes that further metallurgy work is warranted to identify potential ferrosilicon end market uses.
Management and Directors
Jared Lazerson, BA (International Relations), President, Chief Executive Officer and Director
Mr. Lazerson has worked in the mining and technology industries since 1994 with companies including Osprey Systems (GPS and Digital Mapping), United Helicopters, Copper Island Mines and Manto Resources.
Michael Reimann, Ph.D., Chief Financial Officer and Director
Dr. Reimann has over 45 years of experience in senior corporate management in both public and private companies. Most recently Dr. Reimann served as CFO of Skana Capital and PNG Gold.
Andris Kikauka, P.Geo., VP of Exploration and Director
Mr. Kikauka is a geologist with over 30 year of experience. He was Project Geologist at Goldrea Resources. Mr. Kikauka is Project Geologist for Rio Minerals, as well as a director of American Manganese Inc. Mr. Kikauka was previously a director of Navarre Resources Corp.
Lyndon Patrick, LL.B., Director
Mr. Patrick is a Vancouver-based, independently practicing lawyer. He has practiced in British Columbia since 2001.
H. David Read, MBA, Director
Mr. Read has been a financial analyst for approximately 40 years.
On September 5, 2016, MGX Minerals Inc. announced that it has entered into a binding letter of intent to acquire an initial 50-per-cent interest in PurLucid Treatment Solution (Canada) Inc. in exchange for a $5-million staged investment over two years and the right to acquire a 100-per-cent interest for an additional investment of $10-million. PurLucid has exclusive licensing to, assisted in development of, and deployed, proprietary and patented technology that separates oil, to a high degree of purity, from lithium-bearing brine, removing one of the major hurdles of oil field lithium brine production.
On July 18, 2016, MGX Minerals Inc. announced that it has acquired the Pond magnesium occurrence (located 60 kilometres north of Cranbrook, B.C.) and expanded its Marysville magnesium project (located just 25 kilometres north of Cranbrook, B.C.) to more than 480 hectares (1,190 acres). Both projects were previously operated by the Consolidated Mining Company of Canada (Cominco, now Teck Resources) and are now 100 per cent controlled by MGX. These two new projects cover long strike lengths, have had historic drilling and are close to infrastructure.
On July 11, 2016, MGX Minerals Inc. announced that it is mobilizing field crews to conduct a detailed water geochemical sampling program on 22 high-priority wells at its Alberta lithium project.
On June 29, 2016, MGX Minerals Inc. announced that it has retained ChemCognition LLC of Huntersville, N.C., to provide strategic marketing and product development services for MGX's Alberta lithium properties.