Breaking News: MGX Minerals Announces Assays Up To 580ppm Lithium at Kibby Basin, Nevada Lithium Project

MGXMinerals Inc. (OTCQB: MGXMF) (CSE: XMG) announces the joint-venture partner Belmont Resources (TSX-V: BEA) (“Belmont”) has reported assay samples up to 580 ppm lithium in the first layer of 125 samples taken to 1,270 feet at the Kibby Basin lithium brine project (“Kibby”) in Nevada. The highest concentration of lithium occurred between 960 and 1270 feet, including 1110 to 1210 feet where overall average was 415ppm lithium.

The borehole targeted the southern portion of a large robust MT conductor, which may represent saturated sediments containing lithium-rich brines. The hole drilled through lacustrine playa sediments- dominantly calcareous clays and silts grading to lithified claystone’s and siltstones at depth. Sand and gravel zones, which may represent brine-bearing aquifers, were encountered at depths of 150-170 feet, 210-230 feet, 260-300 feet, and 900-920 feet, where a potentially major aquifer in a cobble gravel was intersected. Analysis suggests that a hard chert-cobble layer at a depth of 90-915 feet separates soft red-brown coloured oxidized mud-silt-(minor gravel) playa sediments from underlying grey-green reduced clay-silt-(minor sand) sediments and minor volcanic ash layers. The reducing-oxidizing boundary is well-defined by a chert-cobble layer and Li values increase significantly in the reduced layer below it.

Table 1. Kibby BasinDrill Hole #3








Chert-Cobble layer




Dark grey-green clay-silt average 390 ppm Li (reference ALS certificate RE18197540)




Numerous sections of grey-green reduced clay-silt and intercalated ash tuff layers – geochemical analysis pending

At deeper layers, thin intervals of altered rhyolite ash and possible hot-spring sinter were encountered at 1411-1412 feet, 1488-1490 feet and 1589.5-1590 feet. Operation of a paleo-geothermal system is evidenced by the silicified intervals and fronts of pyrite alteration increasing below a depth of 1500 feet.

Hole KB-3 was drilled by mud rotary methods to a depth of 1270 feet. The hole was completed as a core tail to a total depth of 1798 feet. The hole diameter was reduced to 3-5/8 inches to drill HQ (2.5-inch diameter) core. 25 samples of representative core were selected for assay from this lower part of the drilling and were delivered to ALS Labs in Reno, Nevada on August 31, 2018 for 41-element ICP analysis (including Li). Samples were of ash layers, silicified sediments, and high pyrite and magnetite zones. 10 water samples were collected at various levels from 370 feet through to 1745 feet. Additionally, one sample of well water and one surface water sample were collected and delivered to ALS Labs on August 31st for ICP analysis and physical properties. Assay results from these drill core and water samples are expected by later this month.

Final compilation, upon receipt of further assays, and scheduling for the second 2018 drill hole (KB-4) at Kibby are being prepared. Drills will be mobilized to the second site as soon as possible.

The Kibby Basin shares many characteristics with Clayton Valley, where lithium brines are being exploited, including: closed structural basin, large conductor at depth, lithium anomalies at surface and depth, evidence of a geothermal system, and potential aquifers in porous ash and gravel zones.

Sponsored Content Release. Click for Full Disclosure

1 Comment
  1. Don Amador 7 months ago

    Do #Geothermal Systems Play a Role in #Lithium Brine Enrichment

Leave a Comment

  • Sponsored Content Release, a leading financial news informational web portal designed to provide the latest trends in Market News, Investing News, Personal Finance, Politics, Entertainment, in-depth broadcasts on Stock News, Market Analysis and Company Interviews. A pioneer in the financially driven digital space, video production and integration of social media, creates 100% unique original content. also provides financial news PR dissemination, branding, marketing and advertising for third parties for corporate news and original content through our unique media platform that includes Newswire Delivery, Digital Advertising, Social Media Relations, Video Production, Broadcasting, and Financial Publications.

    Please Note: is not a financial advisory or advisor, investment advisor or broker-dealer and do not undertake any activities that would require such registration. The information provided on (the ‘Site’) is either original financial news or paid advertisements provided [exclusively] by our affiliates (sponsored content),, a financial news media and marketing firm enters into media buys or service agreements with the companies which are the subject to the articles posted on the Site or other editorials for advertising such companies. We are not an independent news media provider and therefore do not represent or warrant that the information posted on the Site is accurate, unbiased or complete. receives fees for producing and presenting high quality and sophisticated content on along with other financial news PR media services. does not offer any personal opinions, recommendations or bias commentary as we purely incorporate public market information along with financial and corporate news. only aggregates or regurgitates financial or corporate news through our unique financial newswire and media platform. For MGX Minerals Inc. financial news dissemination and PR services, has been compensated five thousand dollars by the company. Our fees may be either a flat cash sum or negotiated number of securities of the companies featured on this editorial or site, or a combination thereof. The securities are commonly paid in segments, of which a portion is received upon engagement and the balance is paid on or near the conclusion of the engagement. will always disclose any compensation in securities or cash payments for financial news PR advertising. does not undertake to update any of the information on the editorial or Site or continue to post information about any companies the information contained herein is not intended to be used as the basis for investment decisions and should not be considered as investment advice or a recommendation. The information contained herein is not an offer or solicitation to buy, hold or sell any security., members and affiliates are not responsible for any gains or losses that result from the opinions expressed on this editorial or Site, company profiles, quotations or in other materials or presentations that it publishes electronically or in print. Investors accept full responsibility for any and all of their investment decisions based on their own independent research and evaluation of their own investment goals, risk tolerance, and financial condition. By accessing this editorial and website and any pages thereof, you agree to be bound by the Terms of Use and Privacy Policy, as may be amended from time to time. None of the content issued by constitutes a recommendation for any investor to purchase, hold or sell any particular security, pursue a particular investment strategy or that any security is suitable for any investor. This publication is provided by Each investor is solely responsible for determining whether a particular security or investment strategy is suitable based on their objectives, other securities holdings, financial situation needs, and tax status. You agree to consult with your investment advisor, tax and legal consultant before making any investment decisions. We make no representations as to the completeness, accuracy or timeless of the material provided. All materials are subject to change without notice. Information is obtained from sources believed to be reliable, but its accuracy and completeness are not guaranteed. For our full disclaimer, disclosure and Terms of Use, please visit: