VANCOUVER, British Columbia, April 14, 2016 (GLOBE NEWSWIRE) -- MGX Minerals Inc. (“MGX” or the “Company”) (CSE:XMG) (FKT:1MG) is pleased to report the Company has received an initial Process Design and Scoping Study (the “Study”) from engineering consultant Cementation AG in regards to lithium carbonate production at MGX’s Alberta lithium project. MGX engaged Cementation AG (see press release dated February 29, 2016) to analyze extraction of minerals from the heavily mineralized brine of the Fox Creek and Swan Hills areas within the Company’s portfolio of Alberta lithium properties. The Study provides for a positive basis to move forward.
The Study includes flowsheet recommendations and operational expenditure (OPEX) calculations to process lithium-bearing brine of 20,000 bpd (barrels per day) in a commercial plant. The process proposes to significantly reduce the process time versus traditional solar evaporation, which is up to 18 months. The process is designed to rapidly separate brine minerals to produce various compounds including lithium carbonate, sodium chloride and calcium chloride. The implementation of multiple product lines is designed to maximize potential revenue and reduce the lithium carbonate equivalent cost of production.
Utilizing significant literature searches, solubility models and in-house brine expertise, a workable process was developed by Cementation AG. A flowsheet, non-iterative mass balance, evaporator load, pond sizing, equipment list and operating costs were also developed based on water analyses from historic central wells located on MGX’s Fox Creek Property.
“The proposed process developed by Cementation AG provides for a modern industrial process that would reduce evaporation time and provide for a number of product lines to offset potential costs and increase potential long term profits,” stated MGX President and CEO Jared Lazerson.
Alberta Lithium Properties
MGX has staked or entered into purchase agreements to acquire a 100% undivided interest in 24 Metallic and Industrial Mineral Permits (the “Permits”) throughout the Province of Alberta encompassing over 1,150 square miles (300,000 hectares). These Permits were acquired based on compilation of historic exploration for lithium by the Province as well as oil and gas well data and known geology. The Permits are all geological associated with current and past producing oil fields.
Qualified Person
This press release was prepared under the supervision and review of Andris Kikauka, P. Geo. and 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 Cementation AG
Cementation AG holds expertise in the handling and processing of industrial and energy minerals from scoping study through construction, operations, and maintenance. The lithium plant engineering team is being led by Cementation AG’s process engineers with extensive experience in process design, metallurgy and operations. Cementation AG process engineers have supported projects with Suncor, Intrepid Potash, Copper Mountain, Rio Tinto, Phelps Dodge, HudBay Minerals and others. Cementation is a wholly owned subsidiary of Murray & Roberts. Murray & Roberts is a leading engineering and construction services company headquartered in Johannesburg, South Africa, and is listed on the JSE Limited. It has offices in South Africa, Namibia, Botswana, Mozambique, Zambia and Ghana, the United Emirates, Australia and South Korea, Scotland, Canada, the USA and Chile. Cementation AG was formed to complement the Cementation Underground Group as well as pursue other bulk material handling and minerals processing opportunities globally.
About MGX Minerals
MGX Minerals (CSE:XMG) is a diversified Canadian mining company engaged in the acquisition and development of industrial mineral deposits in western Canada that offer near-term production potential, minimal barriers to entry and low initial capital expenditures. The Company operates the Driftwood Creek magnesium project located in the East Kootenay Region of British Columbia. MGX has recently received approval of a 20-year mining lease for Driftwood and bulk sampling is currently underway. For further information, please visit the Company’s website 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 (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.