Breaking News: MGX Minerals Identifies Large Geophysical Anomaly at Salinitas Lithium Project, Salinas Grandes, Argentina

MGX Minerals Inc. (OTCQB: MGXMF) (CSE: XMG) reports that joint-venture partner A.I.S. Resources (“A.I.S.”) (TSX.V: AIS) has announced completion of the first TEM (Transient Electromagnetic Survey) geophysics profile at the Salinitas JV Project (the “Project”) in the Salinas Grandes Salar, Salta Province, Argentina. The TDEM geophysical survey was conducted across 52 stations at 500-meter spacings totaling approximately 26 kilometers. Interpretation of the first profile suggest that potentially substantial aquifers exist over a 3 km x 2km x 180m depth area.

Figure 1.
Salinitas Project, Salinas Grandes – Blue dots represent survey lines along 26km.
Figure 2.
Blue dots represent survey lines and areas of focus for future trenching.
Figure 3.
Black rocks outcropping at surface

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 from the TDEM program (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 Figure 3. On line one, the size of the two blocks in the low resistivity area is approximately 6,000m x 180m.

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.

A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/39893c2c-f023-455b-b837-57e348dc99cb

A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/6deb9ecf-4020-41c0-93ad-a19dc06c0398

A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/70c21b70-2c20-4135-9121-debd94c0c8f6

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 TDEM 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. Mr. Thomas 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.

Sponsored Content Release. Click for Full Disclosure

1 Comment
  1. Diana Miller 2 months ago
    Reply

    How can your company maximize your investment return in #lithiumextraction and processing?

Leave a Comment