XMG:CC - MGX Minerals Proposes Mine to Market (M2M) Solar Energy Program for Canada
(TheNewswire)
VANCOUVER – TheNewswire - June13, 2022 - MGX Minerals Inc. (“MGX” or the “Company”)(CSE:XMG) (CNSX:XMG.CN) (FKT:1MG) (OTC:MGXMF) announces an initial proposal has been made tothe Natural ResourceCanada - Zero Emission Vehicle InfrastructureProgram , for the purpose of directing Federalfunds into a supply chain that provides for a domestic mine to market(“ M2M ”) industrial solar product forCanadian energy infrastructure. The final plan is to be provided togoverning parties of the First Nation, Municipal, Regional, Provincialand Federal as well as private sector solar and chemical partners withcurrent M2M solar supply chain roles, for the purpose of forming apartnership (the “ Partnership ”). The purpose of the Partnership is fordomestic availability of metallurgical grade silicon (3303# grade),upgrading, and component design for solar panels. The long termstrategic goal is to provide low cost energy for internal Company usein silicon and magnesium processing, and the energy needs of FirstNations and the Provinces and Territories of Canada.
Silicon
Metallurgical testing on an one ton sample from theCompany’s Gibraltar Silica deposit, located 95 kilometers north-eastof Cranbrook, British Columbia, has indicated that the material ischemically suitable, as medium quality feedstock, formetallurgical-grade silicon. The one ton sample of quartzite fromGibraltar was shipped to an independent lab, Dorfner Anzaplan, formineralogical analyses through X-ray diffraction analysis, chemicalanalyses through X-ray fluorescence spectroscopy, grain sizedistribution, mineral processing analysis, automated optical sorting,and thermal stability testing. The sample was crushed and screenedinto fractions between 20–120 mm for evaluation of applicability ofthese fractions as feedstock for metallurgical-grade siliconproduction. Results indicate that the material, after comminutionand classification fraction, is of high initial purity (99.5 wt.-%),making the fraction chemically suitable as medium quality feedstockmaterial for metallurgical-grade silicon metal production.
Gibraltar Silica
The Gibraltar Silica Property islocated approximately 95 kilometres northeast of Cranbrook, BC. It covers a sedimentary clastic-carbonate rock packagelocated near the confluence of Kootenay and White River. Sedimentaryrocks generally have a north-northwest strike, but locally anorth-northeast strike is prominent. Minor folding was noted in thecarbonate sequence immediately adjacent to quartzite unit. Twowesterly dipping thrust faults (Hay, Carter, 1988) are believed to runnorth-south close to the eastern edge of the Gibraltarproperty.
The Company has completed 5 drill holes at Gibraltar.The holes were located at the Red Cloud (Gibraltar) quarry that wasoperated on a small scale in 1967. The objective of the drill programwas to test subsurface dimensions of high purityquartzite. The Gibraltar North Zone has beensampled, mapped and the area located about 400 meters north of thesouth zone, represents the continuation of the Mount Wilson Formationquartzite.
Table 1. Gibraltar DrillResults
| DDH No. |
| Azimuth |
| Dip Deg. |
| Depth(m) |
| From’(m) |
| To(m) |
| Interval(m) |
| SiO2% |
| 18G-1 |
| 345 |
| 45 |
| 45.7 |
| 6.0 |
| 27.0 |
| 21.0 |
| 99.24 |
| 18G-2 |
| 270 |
| 45 |
| 38.1 |
| 4.4 |
| 30.0 |
| 25.6 |
| 99.10 |
| 18G-3 |
| 020 |
| 45 |
| 42.7 |
| 5.8 |
| 24.0 |
| 18.2 |
| 99.11 |
| 18G-4 |
| 290 |
| 50 |
| 6.0 |
| 24.0 |
| 18.0 |
| 18.0 |
| 98.70 |
| 18G-5 |
| Vertical |
| 90 |
| 12.0 |
| 18.0 |
| 6.0 |
| 6.0 |
| 99.20 |
( BritishColumbia Assessment Report38566)
Koot Silica
The Koot Silica project is located proximate (5kilometres) to Gibraltar. T he 2018 core drillingand geochemical sampling was carried out to evaluate mineral potentialin a 180 meter X 600 meter area (elongated northwest), located in theeast portion of the Koot Silica property in the area where quartziteis well exposed on a low relief ridge. This coincides with the generalarea where Cominco Ltd Drilled 8 holes in 1981. Exploration drill results from 2018 are as follows:
Table 2. Koot Drill Results
| DDH No. |
| From (m) |
| To (m) |
| Interval (m) |
| SiO2% |
| Al2O3% |
| Fe2O3% |
| K2O % |
| TiO2 % |
| LOI % |
| Total % |
| SiO2 / Total% |
| 18K-1 |
| 0.9 |
| 56.39 |
| 55.49 |
| 98.5 |
| 0.54 |
| 0.39 |
| 0.17 |
| 0.13 |
| 0.49 |
| 100.25 |
| 98.15 |
| 18K-2 |
| 0.9 |
| 76.20 |
| 75.3 |
| 97.9 |
| 0.51 |
| 0.24 |
| 0.10 |
| 0.14 |
| 0.30 |
| 99.30 |
| 98.64 |
| 18K-3 |
| 1.5 |
| 106.68 |
| 106.18 |
| 98.7 |
| 0.33 |
| 0.24 |
| 0.10 |
| 0.10 |
| 0.26 |
| 99.84 |
| 98.88 |
| 18K-4 |
| 0.0 |
| 86.0 |
| 86.0 |
| 98.3 |
| 0.37 |
| 0.38 |
| 0.14 |
| 0.12 |
| 0.36 |
| 99.81 |
| 98.5 |
| 18K-5 |
| 2.0 |
| 99.0 |
| 97.0 |
| 98.1 |
| 0.70 |
| 0.33 |
| 0.19 |
| 0.14 |
| 0.41 |
| 99.90 |
| 98.16 |
| 18K-6 |
| 2.2 |
| 36.0 |
| 33.8 |
| 99.0 |
| 0.97 |
| 0.09 |
| 0.29 |
| 0.06 |
| 0.33 |
| 100.89 |
| 98.28 |
| 18K-7 |
| 6.0 |
| 54.0 |
| 58.0 |
| 99.0 |
| 0.44 |
| 0.25 |
| 0.12 |
| 0.12 |
| 0.40 |
| 100.41 |
| 98.61 |
| 18K-9 |
| 2.3 |
| 77.72 |
| 75.42 |
| 98.4 |
| 0.43 |
| 0.37 |
| 0.11 |
| 0.11 |
| 0.42 |
| 99.95 |
| 98.43 |
| 18K-10 |
| 2.25 |
| 54.0 |
| 51.75 |
| 98.9 |
| 0.39 |
| 0.23 |
| 0.08 |
| 0.11 |
| 0.32 |
| 100.16 |
| 98.78 |
( BritishColumbia Assessment Report37630)
Processing
The processing of silica to silicon is a relativelysimple process primarily dependent on high quality feedstock. Additional ingredients of wood chips, for spacing, and metallurgicalgrade coal, to reduce energy requirements and assist in even heattransfer are required. Both of these ingredients as well aselectricity, at a globally competitive price, are available in theregion. The materials are top loaded into a submerged arc furnace(“ SAF ”) and heated to 1600 degrees Celsius melting the silicawhich is then bottom poured into bricks which are ground into 3”-4” pieces for shipping. MGX has issued a global request forquotation (‘ RFQ ’) and received initial quotations from major furnacemanufacturers with minimum specification of 1,000 tonnes permonth.
Qualified Person
Andris Kikauka (P. Geo.), CEO of MGX Minerals, hasprepared, reviewed and approved the scientific and technicalinformation in this press release. Mr. Kikauka is a non-independentQualified Person within the meaning of NI 43-101.
About MGX Minerals
MGX Minerals is a diversified Canadian resource andtechnology company with interests in advanced materials, metals andenergy technologies.
ContactInformation:
Andris Kikauka
Chief Executive Officer
604 373 8565
Forward-LookingStatements
This press release containsforward-looking information or forward-looking statements(collectively, "forward-looking information") within themeaning of applicable securities laws. All statements, other thanstatements of historical fact, included herein are forward ? looking information. Forward-looking information in this pressrelease include, but are not limited to, statements with respect toholding the postponed Meeting, and the filing of an amended notice ofmeeting and record date for the postponed Meeting. Forward-lookinginformation is generally, but not always, identified by the words"expects", "plans", "anticipates","in the event", "if", "believes","asserts", "position", "intends","envisages", "assumes", "recommends","estimates", "approximate", "projects","potential", "indicate" and similar expressions,or that events or conditions "will", "would","may", "could" or "should" occur.
The Company’s forward-lookinginformation are based on the applicable assumptions and factors theCompany considers reasonable as of the date hereof, based on theinformation available to the Company at such time, including withoutlimitation, the ability to host the postponed Meeting at a later date,and the ability to find a suitable location which can accommodate anin-person shareholders’ meeting. The Company cautions investors thatany forward-looking information provided by the Company is not aguarantee of future results or performance, and that actual resultsmay differ materially from those in forward-looking information as aresult of various risk factors. These factors include, among others,uncertainties arising from the COVID-19 pandemic, and general economicconditions or conditions in the financial markets. The reader isreferred to the Company's public filings for a more completediscussion of such risk factors, and their potential effects, whichmay be accessed through the Company's profile on SEDAR at www.sedar.com . Except as required by securities law,the Company does not intend, and does not assume any obligation, toupdate or revise any forward-looking information, whether as a resultof new information, events or otherwise.
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