MGX Minerals Completes Petrographic Study on High Grade 6 Ounce per Tonne Gold Sample from Heino Deposit

"In this sample (#303), native gold occurs grossly with sulphides, but in detail, it is mainly concentrated in silicates (quartz and Mineral A), and is concentrated strongly in one patch 1.5-2 mm across. This detailed distribution would be important if and when the time comes for any metallurgical extraction of gold."

Sample 303 (see table below for analytical results)

Summary

Sample 303 is of massive sulphide dominated by intimate intergrowths of pyrrhotite (fresh to altered slightly to strongly to secondary Fe-minerals), sphalerite, quartz, and a silicate (Mineral A). Minor minerals include galena, hematite, arsenopyrite, chalcopyrite, and native gold (which occurs mainly in quartz and in Mineral A). Two proximal patches up to 1.5 mm across are of medium to coarse grained quartz. A vein is of pyrite and lesser silicate(s). A few seams are of sheared rock, one of which contains sphalerite and the others of which contain hematite/limonite Photo A.

Note: a polished thick section was prepared; thus, an unknown silicate (Mineral A) could not be identified optically. The K-feldspar stain on the offcut block indicates the presence of K-feldspar, mainly in a patch in one corner of the block near the large quartz patches.

Photo A

Petrographic Report

The sample is of massive sulphide dominated by intimate intergrowths of pyrrhotite (fresh to altered slightly to strongly to secondary Fe-minerals), sphalerite, quartz, and a silicate (Mineral A). Minor minerals include galena, hematite, arsenopyrite, chalcopyrite, and native gold (which occurs mainly in quartz and in Mineral A). Two proximal patches up to 1.5 mm across are of medium to coarse grained quartz. A vein is of pyrite and lesser silicate(s). A few seams are of sheared rock, one of which contains sphalerite and the others of which contain hematite/limonite.

mineral percentage main grain size range (mm)

quartz 50-55% 0.05-0.5; 1-5

pyrrhotite 10-12 0.1-0.3

sphalerite 5- 7 0.2-1

galena 0.3 0.1-0.3

hematite 0.3 0.005-0.02(?)

arsenopyrite 0.2 0.5-0.7

chalcopyrite 0.1 0.03-0.05

native gold minor 0.01-0.05

native silver (?) trace 0.005-0.01

Quartz occurs in two main modes. It forms two proximal medium to coarse grained patches, each of which is up to 1.5 cm across. It forms very fine to fine anhedral to locally euhedral grains intergrown very finely to finely with sulphides and with a second non-reflective mineral, Mineral A, probably a silicate.

Mineral A occurs with quartz in patches interstitial to sulphides; it has slightly lower reflectivity than quartz and in places contains inclusions of quartz.

Pyrrhotite forms anhedral patches intergrown very finely to finely with minor to abundant sphalerite and silicates. It is strongly anisotropic and strongly magnetic. Some patches are fresh, some are altered slightly to moderately to botryoidal aggregates of secondary Fe-sulphide, and some are altered moderately to strongly to secondary Fe-sulphides and patches of non-reflective opaque. A few patches were replaced by secondary pyrite.

Sphalerite forms anhedral grains, most of the larger ones of which contain inclusions of pyrrhotite as grains from 0.1-0.5 mm in size and as exsolution blebs from 0.005-0.015 mm in size.

Galena forms scattered to locally moderately abundant patches, mainly intergrown coarsely with sphalerite.

Hematite forms a few secondary massive to less commonly botryoidal patches that are intergrown coarsely with sphalerite, quartz, and pyrrhotite.

Arsenopyrite forms one euhedral prismatic grain in sphalerite with lesser quartz and pyrrhotite.

Chalcopyrite forms scattered patches, mainly in silicates and mainly near patches of sphalerite. It also forms elongates lenses up to 0.1 mm long in fractures in silicates.

Native gold is concentrated in one area up to 1.5 mm in size as abundant disseminated irregular grains in quartz and in Mineral A. Elsewhere it forms very few disseminated grains, mainly in quartz and Mineral A.

Native silver (or possibly galena) occurs locally with native gold or in quartz and Mineral A in the area with abundant native gold.

A vein up to 1 mm wide is of massive pyrite and patches of silicates.

A sheared zone up to 0.1 mm wide contain granulated sphalerite and silicates.

A few veinlets (possibly sheared zones) up to 0.15 mm wide contain limonite/hematite.

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 NI 43-101.

Advisors

Kingsdale Advisors is acting as strategic shareholder and communications advisor and Norton Rose Fulbright Canada LLP is acting as legal advisor to MGX Minerals Inc.

About MGX Minerals Inc.

MGX Minerals Inc. invests in commodity and technology companies and projects focusing on battery and energy mass storage technology, extraction of minerals from fluids, and exploration for industrial minerals and precious metals.

Contact Information

Neil Foran
Chief Financial Officer
neil@mgxminerals.com
Web: www.mgxminerals.com

Andy Radia
Director, Communications and Marketing
Kingsdale Advisors
Ph: 416-867-2357
aradia@kingsdaleadvisors.com

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SOURCE: MGX Minerals Inc.