MGX Minerals Announces Completion of Large Scale Laboratory Petrolithium Extraction System
VANCOUVER, June 27, 2017 - MGX Minerals Inc. ("MGX" or the "Company") (CSE: XMG / FKT: 1MG / OTC: MGXMF) is pleased to announce completion of a 1,000L per day petrolithium extraction and water treatment system. The Company has been informed by engineering partner PurLucid Treatment Solutions ("PurLucid") that the system is now operational. The system is to be used for large scale testing of bulk water samples from MGX's Petrolithium Projects including Sturgeon Lake, Alberta and Paradox Basin, Utah as well as customers and partners prior to deployment of commercial systems. Following successful trials of its process for lithium recovery in an initial laboratory scale and tightly controlled process, a larger and more advanced system that can process up to 1,000L of oil field brine (6.3 barrels) per lab day has been constructed. The initial system processed 10L per day and produced concentrated lithium chloride samples.
"With the core process tested we are comfortable moving to a system 100 times larger," stated Purlucid CEO Dr. Preston McEachern. "Over the month of July, we will be receiving large volume samples from MGX's projects and now have the processing capacity to demonstrate the benefits of the lithium recovery process as well as upgraded water quality."
The process relies on advanced nanomaterials utilized in conjunction with nanoflotation technologies.
Concurrent with the lab testing, fabrication of a 100-cubic meter (10,000L) per day pilot unit for pre-commercial testing of oilfield wastewater and the lithium recovery system is also underway. Construction of the system began in early 2017 and the water treatment component essential to delivering a water quality suitable for lithium recovery was completed in early Spring. Completion of the pilot plant is expected in September. In addition, design and engineering of commercial scale 1,200 cubic meter per day system is now underway.
Qualified Person
The technical portions of this press release were prepared and reviewed by Andris Kikauka (P. Geo.), 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.
MGX may decide to advance its petrolithium projects into production without first establishing mineral resources supported by an independent technical report or completing a feasibility study. A production decision without the benefit of a technical report independently establishing mineral resources or reserves and any feasibility study demonstrating economic and technical viability creates increased uncertainty and heightens economic and technical risks of failure. Historically, such projects have a much higher risk of economic or technical failure.
About MGX Minerals
MGX Minerals is a diversified Canadian resource company with interests in petrolithium, magnesium and silicon assets throughout North America. Learn more at www.mgxminerals.com.
Contact Information
Jared Lazerson
President and CEO
Telephone: 1.604.681.7735
Web: 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 including the completion of the rights offering (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.
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