Full size / Black rocks outcropping at surface at the Salinitas Lithium Project in Argentina.
MGX Minerals Inc. today announced the completion of the first TEM (Transient Electromagnetic Survey) geophysics profile at the Salinitas Project, a joint venture with A.I.S. Resources Ltd. in the Salinas Grandes Salar, Salta Province, Argentina. Interpretation of the first profile suggest that potentially substantial aquifers exist over a 3 km x 2 km x 180 m depth area.
The first of the TEM geophysics profiles has been interpreted and potentially substantial aquifers exist over two 3 km x 2km x 180m depth areas. Preliminary highlights (Figure 1) show the red zone as highly conductive. Interpreted aquifers outlined in black line (Figure 1) are likely to represent brine soaked sands and clay. The large blue structures in Figure 1 are black rocks that can been seen outcropping in above picture. On line one, the size of the two blocks in the low resistivity area is approximately 6 km x 180 m. Interpretation of lines two and three are now underway and will provide an indication of potential widths. The purple line on the surface (Figure 1) shows the main area of interest that will be trenched with a backhoe in the near future.
Figure 1: Salinitas Project, Salinas Grandes - Blue dots represent survey lines along 26 km.
Figure 2: Blue dots represent survey lines and areas of focus for future trenching. The TDEM geophysical survey was conducted across 52 stations at 500 m spacings totaling approximately 26 km.
Drilling Permit Issued for Salinitas Concessions
MGX has also been notified by A.I.S. that the Salta Department Mines Administration is expected to issue drill permits within the next week. Upon full completion and interpretation of all data, A.I.S. plans to conduct trenching as well as an auger drilling program to test the shallow, near surface brine targets that may potentially contain anomalous concentrations of lithium and other elements. Exploration is being overseen by newly appointed A.I.S. Resource’s President and CEO Phillip Thomas who specializes in development of lithium brine projects and previously acted as CEO of Admiralty Resources, where he was responsible for putting the Rincon Salar in Argentina into production.
About the Salinitas Lithium Brine Project
The Salinitas tenements are located in the lithium triangle at the Salar de Salinas Grandes in the Province of Salta. The 4,308 hectare contiguous land package resides in the Puna region of northwest Argentina near the border of Chile, an area renowned for its lithium- and potassium-rich brine resources. MGX has partnered with A.I.S. Resources (TSX.V: AIS) on the Project and is currently earning an undivided 80% interest by incurring total exploration expenditures of at least $1.2 million USD by May 31, 2020 and by making payments totaling $3.2 million USD which are primarily due at that time.
Rapid Lithium Brine Extraction Technology
MGX has developed a rapid lithium extraction technology eliminating or greatly reducing the physical footprint and investment in large, multi-phase, lake sized, lined evaporation ponds, as well as enhancing the quality of extraction and recovery across a complex range of brines as compared with traditional solar evaporation. This technology is applicable to petrolithium (oil and gas wastewater), natural brine, and other brine sources such as lithium-rich mine and industrial plant wastewater. The technology was recently chosen as winner of the Base and Specialty Metals Industry Leadership Award at the 2018 S&P Global Platts Global Metals Awards, held in London in May (see press release dated May 18, 2018).
About MGX Minerals
MGX Minerals is a diversified Canadian resource company with interests in advanced material and energy assets throughout North America. Learn more at www.mgxminerals.com
MGX Minerals Inc.
#303 - 1080 Howe Street
Vancouver, BC, Canada V6C 2T1
Phone: +1 604 681 7735
Shares Issued & Outstanding: 124,365,827
Canadian Symbol (CSE): XMG
Current Price: $0.76 CAD (08/31/2018)
Market Capitalization: $95 Million CAD
German Symbol / WKN (Tradegate): 1MG / A12E3P
Current Price: €0.508 EUR (08/31/2018)
Market Capitalization: €63 Million EUR
Report #77 “MGX-PurLucid Achieve 99.7% Lithium Recovery Along With Breakthrough in Component Costs"
Report #76 “MGX-Belmont Drilling Finds Multiple Brine Prospective Zones at Kibby Basin Lithium Joint Venture in Nevada"
Report #75 “MGX engages one of the world‘s most respected lithium upgrading and commercial scale-up experts"
Report #74 “MGX-ZincNyx start product certification for the mass market"
Report #73 “MGX-ZincNyx Announce Mass Production of Zinc-Air Battery Fuel Cell and Charging Components"
Report #72 “MGX Moves to the Big Time, Acquires Chilean Lithium Brine Projects"
Report #71 “MGX provides Update on Deployment of Several Plants for Rapid Lithium Extraction and Wastewater Treatment in Alberta“
Report #70 “The Drills are Turning at MGX-Belmont‘s Kibby Basin Lithium Joint Venture in Nevada“
Report #69 “MGX Engages Hatch Engineering for Scale-Up of its Rapid Lithium Extraction Plant in the Western United States“
Report #68 “MGX and Belmont to Start Drilling at Kibby Basin Lithium Project in Nevada on Saturday“
Report #67 “MGX Expands to Argentina, Home to One of the Largest and Richest Lithium Resources in the World“
Report #66 “MGX and Belmont Form Nevada Lithium Joint Venture at Kibby Basin“
Report #65 “MGX-Highbury Expand Work to Gasify Petcoke into a Synthetic Crude Oil Equivalent“
Report #64 “MGX Delivers Update on Commercial Deployment of its Wastewater Treatment and Lithium Extraction Systems“
Report #63 “MGX is Drilling for Solar Grade Silicon Metal in British Columbia“
Report #62 “MGX-ZincNyx Now Ready To Start Commercialization Of Battery Systems For Mass Storage Of Energy“
Report #61 “MGX Minerals Raises $15,5 Million in an Oversubscribed Financing to Speed Up Lithium and Advanced Material Projects“
Report #60 “Sneak Preview of Big Oil Entering the Business of Big Batteries“
Report #59 “MGX Wins Industry Leadership Award from S&P Global Platts“
Report #58 “MGX Nears Commercial Deployment of 4 Petrolithium and Water Treatment Systems in Alberta“
Report #57 “MGX Announces Quadrupling of Power Output of Zinc-Air Fuel Cell Battery“
Report #56 “MGX Sets The Record Date For Its First Dividend“
Report #55 “The First ZincNyx Energy Storage Plant to be Deployed in New York City“
Report #54 “MGX in Final Stages of Commercial Deployment, Second Petrolithium Contract Already in the Making“
Report #53 “MGX-Highbury Accomplish Almost Complete Gasification of Petcoke, Produce High-Grade Vanadium Concentrate“
Report #52 “MGX Set to Alter Lithium Landscape, Partners with Investment Bank Heavyweight Capstone Headwaters“
Report #51 “Congratulations! MGX Nominated in 2 Categories as a Finalist for the S&P Global Platts Metals Awards“
Report #50 “MGX Gets Serious About Magnesium, Engages Hatch for Magnesium Metal Scoping Study“
Report #49 “MGX to Acquire and Commercialize Clean Technology for Extraction of Lithium and Aluminum from Spodumene“
Report #48 “MGX Minerals Issues PEA for a World-Class Magnesium Project in British Columbia“
Report #47 “High-Grade Battery Metals From Dirty Petcoke“
Report #46 “Big Times Ahead For Several Joint Ventures from MGX Minerals“
Report #45 “MGX Partner Broadcasting on US Television“
Report #44 “The Big Rethinking Begins: Multiple Lithium Projects in Chile Test the Rapid Lithium Extraction Technology from MGX“
Report #43 “Global Lithium Dominance? MGX Doubles Performance of Lithium Extraction Filters“
Report #42 “Scores of Tail Winds for MGX becoming a Leader in the New Energy Economy“
Report #41 “MGX Goes Big, Develops Utility-Scale Battery Storage System“
Report #40 “Positioned to Profit from Transition to New Energy Economy“
Report #39 “MGX Assembles Dream Team For California Lithium Strategy“
Report #38 “MGX: The Next GreenTech Energy Giant“
Report #37 “MGX Partners with Highbury Energy to make Petroleum Coke more Clean“
Report #36 “Technological Breakthrough in the Mass Energy Storage Industry“
Report #35 “Eureka! MGX Starts Developing Silica Projects after Acquisition of Mass Storage Battery Technology“
Report #34 “MGX Going Big on Petrolithium: The first large-scale integrated petroleum and lithium project ever developed“
Report #33 “Driving into the Realms of Tesla & Co: MGX Acquires Mass Storage Battery Technology from Teck Resources“
Report #32 “Backed by Private and Institutional Heavyweights: MGX cashes up for Lithium Extraction and Exploration“
Report #31 “MGX Revolutionizes the Lithium World - Commissions First Rapid Lithium Extraction System“
Report #30 “Full Steam Ahead: MGX Engages Senator Polanco (Ret.) to Head California Lithium Brine Strategy“
Report #29 “MGX to Target Geothermal Market for Extraction of Lithium and Gold“
Report #28 “MGX Minerals Commences Development of the World‘s First Petrolithium Field“
Report #27 “Canadian Government Backs MGX Minerals‘ Petrolithium Cleantech“
Report #26 “MGX Minerals Solves the Magnesium Problem of the Lithium Industry“
Report #25 “Hard-Rock Lithium Exposure for MGX“
Report #24 “One of the Largest Initial Oil Estimates in US History“
Report #23 “MGX starts Petrolithium pilot plant to deliver hard facts for strategic partners“
Report #22 “Time to bet: Sprott takes a position in MGX“
Report #21 “Petrolithium: First Come First Served“
Report #20 “Successful Independent Verification of the MGX Lithium Extraction Technology“
Report #19 “MGX to Drill the World‘s First PetroLithium Well in Utah“
Report #18 “MGX Reports Upgrading of Lithium Brine from 67 to 1600 ppm Lithium“
Report #17 “MGX technology nominated for prestigious Katerva Award, the Nobel Prize of Sustainability“
Report #16 “Unconventional oil play legend Marc Bruner to take MGX and PetroLithium to the next level“
Report #15 “Total Conviction: MGX forms PetroLithium Corp. to expand into the US oilfield brine markets“
Report #14: “MGX Extracts Lithium from Oil Wastewater - Begins Monumental Integration with Big Oil“
Report #13 "MGX Partners with Oil Major on Lithium Brine, New Energy Industry Facing Fundamental Shift“
Report #12 "Game Changing Potential: MGX Minerals‘ Pilot Plant for Rapid Production of Lithium Nears Completion“
Report #11 "MGX assays 34 g/t gold from surface sampling in British Columbia“
Report #10 “Official: MGX owns magnesium worth multi-billions of dollars and starts pilot plant shortly“
Report #9 “One of the world‘s largest lithium resources on the horizon?“
Report #8 “Ready for significant lithium brine work in Alberta“
Report #7 “At the forefront of Alberta‘s lithium brine riches“
Report #6 “Pioneering Lithium in Alberta: MGX Minerals Teams Up“
Report #5 “Time to Put a Lithium Production Process in Place“
Report #4 “MGX Minerals Taps Into Canada‘s Potentially Largest High-Grade Lithium Resources“
Report #3 “MGX Minerals Receives Mining Lease for 20 years (in British Columbia!)“
Report #2 “MGX Minerals Accelerates Towards Production“
Report #1 “MGX Minerals Plans To Enter The Magnesium Market“
Disclaimer: This report contains forward-looking information or forward-looking statements (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. Rockstone Research and MGX Minerals Inc. cautions investors that any forward-looking information provided herein 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 MGX´s public filings for a more complete discussion of such risk factors and their potential effects which may be accessed through the MGX´s profile on SEDAR at www.sedar.com. Please read the full disclaimer within the full research report as a PDF (here) as fundamental risks and conflicts of interest exist. The author, Stephan Bogner, holds a long position in MGX Minerals Inc. and is being paid a monthly retainer from Zimtu Capital Corp., which company also holds a long position in MGX Minerals Inc.