MGX Minerals Inc. and Belmont Resources Inc. today reported lab results from sampling of the first section drilled by mud rotary method to a depth of 387 m (1,270 feet) at the Kibby Basin Joint Venture Project in Nevada, USA.
The highest concentration of lithium occurred within a 91 m (300 feet) long intercept at depths between 296-387 m (970-1,270 feet) averaging 390 ppm lithium within dark grey-green clay-silt sediments, including an average of 415 ppm lithium between 338-369 m (1,110-1,210 feet) with a high of 580 ppm lithium.
The second, lower section of the hole (KB-3) was completed with a core drill to a depth of 548 m (1,798 feet). Lab results from this 161 m (528 feet) wide section are pending and expected later this month. A total of 25 samples of representative core (ash layers, silicified sediments, and high pyrite and magnetite zones) were sent to the lab for multi-element analysis.
Most importantly, 10 water samples were collected at various levels from 113-532 m (370-1,745 feet). In case favorable lithium concentrations can be encountered in pumpable aquifers, MGX intends to deploy its award-winning rapid lithium extraction technology, which is currently at the final stages of commercial deployment in Alberta, Canada.
Full size / Water sampling at the Kibby Basin.
Full size / Drill core in boxes for logging.
Full size / Samples collected from the first section of KB-3 drilled by mud rotary method.
Final compilation, upon receipt of further assays, and scheduling for the second 2018 drill hole (KB-4) are being prepared. Drills will be mobilized to the second site as soon as possible.
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 (09/11/2018)
Market Capitalization: $95 Million CAD
German Symbol / WKN (Tradegate): 1MG / A12E3P
Current Price: €0.506 EUR (09/11/2018)
Market Capitalization: €63 Million EUR
Report #78 “MGX Identifies Large Geophysical Anomaly at Salinitas Lithium Project, Salinas Grandes, Argentina"
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“
Belmont Resources Inc.
Suite 600 - 625 Howe Street
Vancouver, BC, V6C2T6 Canada
Phone: +1 604 683 6648
Shares Issued & Outstanding: 85,165,620
Canadian Symbol (TSX.V): BEA
Current Price: $0.07 CAD (09/11/2018)
Market Capitalization: $6 Million CAD
German Symbol / WKN (Frankfurt): L3L1 / A1JNZE
Current Price: €0.045 EUR (09/11/2018)
Market Capitalization: €4 Million EUR
Report #15 “MGX-Belmont Drilling Finds Multiple Brine Prospective Zones at Kibby Basin Lithium Joint Venture in Nevada"
Report #14 “The Drills are Turning at MGX-Belmont‘s Kibby Basin Lithium Joint Venture in Nevada”
Report #13 “MGX and Belmont to Start Drilling at Kibby Basin Lithium Project in Nevada on Saturday”
Report #12 “MGX and Belmont Form Nevada Lithium Joint Venture at Kibby Basin”
Report #11 “Ohm-m! The Divine Sounding of Resistivity”
Report #10 “Belmont Resources (BEA.V): Cheapest US lithium play may just be what others promised”
Report #9 “It‘s Time For Belmont To Shine In Nevada”
Report #8 “Bingo! Belmont finds striking drill targets for lithium brine deposits at Kibby Basin in Nevada”
Report #7 “The Missing Puzzle Piece to Discover Lithium Aquifers in the Kibby Basin of Nevada?”
Report #6 “Belmont on track to eclipse the Clayton Valley”
Report #5 “Belmont getting ready to drill for untapped lithium brines at Kibby Basin in Nevada”
Report #4 “The perfect lithium basin?”
Report #3 “Prominent gravity low identified on Kibby Basin Lithium Brine Property in Nevada”
Report #2 “Dark clouds over Clayton Valley and green lights for Belmonts Kibby Basin Project”
Report #1 “Early Report on Belmont Resources”
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 disclaimers for both featured companies within the full research reports as a PDF (here and here) as fundamental risks and conflicts of interest exist. The author, Stephan Bogner, holds a long position in MGX Minerals Inc. and Belmont Resources Inc. and is being paid a monthly retainer from Zimtu Capital Corp., which company also holds a long position in MGX Minerals Inc. and Belmont Resources Inc.