Breaking News: MGX Minerals Announces TDEM Geophysical Survey at Salinitas Lithium Project, Salinas Grande Salar Argentina

MGX Minerals Inc. (OTCQB: MGXMF) (CSE: XMG) is pleased to announce the engagement of Quantec Geoscience (“Quantec”) to complete a Transient Electromagnetic Method (TEM) geophysical survey on the Salinitas lithium brine project (the “Project”) in the Salinas Grande Salar of northwest Argentina. MGX has partnered with A.I.S. Resources (AIS) on the Project and is currently earning an 80% interest. The TEM geophysical survey will be conducted along 52 stations spaced in 500 meter intervals across the edge of the salar to test for shallow, near surface brines to determine locations with anomalous concentrations of lithium.

About the Salinitas Lithium Brine Project

The Salinitas tenements are located in the lithium triangle of Argentina, Salar de Salinas Grandes, 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 can earn an undivided 80% interest at any time during the Agreement by making payments totaling US$3.2 million. MGX has also agreed to incur total expenditures of at least US$1.2 million prior to May 31, 2020.

Figure 1. Proposed TEM Stations at Salinitas Brine Project

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).

Qualified Person

Andris Kikauka (P. Geo.), Vice President of Exploration for MGX Minerals, has prepared, reviewed and approved the scientific and technical information in this press release. Mr. Kikauka is a non-independent Qualified Person within the meaning of National Instrument 43-101 Standards.

 

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