MGX Minerals
Drills 44 Meters of 1700ppm Niobium at
REN
Niobium-Tantalum-Titanium-REE
Project
VANCOUVER, BRITISH COLUMBIA /
December
27,
2018 /
MGX Minerals Inc. ("MGX" or the
"Company")
(CSE:
XMG /
FKT:
1MG /
OTCQB:
MGXMF)
is
pleased to provide an
update for its REN
Niobium-Tantalum-Titanium-REE
Mineral
Property ("Ren" or the
"Property") located in the
northern Monashee Mountains of southeastern British
Columbia. The Company has
now received assay results
from diamond
drilling as well as
field reconnaissance
results from
a regional
geochemical sampling program completed
at
REN.
Fall Drill Program Completed
A
14-hole,
1,249-meter
drill
program was completed
at REN
covering
an
area of approximately
200x600
meters in the central portion of the mineral
claims. The goal of
the drill program was to test magnetic
positive anomalies generated from a magnetometer survey completed
earlier this year. Results from
the drill program returned
positive niobium grades and wider than expected zones.
A
total of 670 samples split core samples (at 2-meter intervals) were
analyzed by ALS Geochemistry using method ME-MS89L (sodium peroxide
fusion, reporting 52 elements, as well as additional
elements Zr
and
P). Results have
now been compiled and a follow up exploration program for 2019 is
being developed. Assay results from select holes are reported
below:
Table 1. REN 2018 Drill Hole Assays Results
|
DDH
|
From
(m)
|
To
(m)
|
Int
(m)
|
Nb2O5 %
|
Ta2O5 %
|
*TREO %
|
P%
|
FeO
%
|
TiO2 %
|
MnO
%
|
|
18RE
1
|
3.28
|
3.58
|
0.3
|
0.16
|
0.002
|
0.16
|
>1
|
4.36
|
0.292
|
0.59
|
|
18RE
1
|
10.48
|
20.5
|
10.02
|
0.13
|
0.002
|
0.18
|
>1
|
6.82
|
0.62
|
0.49
|
|
18RE
2
|
6.56
|
10
|
3.44
|
0.04
|
0.001
|
0.09
|
0.29
|
6.1
|
0.75
|
0.14
|
|
18RE
3
|
29.5
|
33.5
|
4
|
0.18
|
0.003
|
0.14
|
>1
|
4
|
0.07
|
0.47
|
|
18RE
4
|
3.6
|
13
|
9.4
|
0.19
|
0.004
|
0.15
|
>1
|
5.1
|
0.22
|
0.34
|
|
18RE
5
|
2.6
|
3.7
|
1.1
|
0.11
|
0.002
|
0.22
|
>1
|
7.01
|
0.47
|
0.37
|
|
18RE
5
|
6
|
10
|
4
|
0.21
|
0.003
|
0.35
|
>1
|
6.1
|
0.26
|
0.56
|
|
18RE
5
|
12.3
|
38
|
25.7
|
0.14
|
0.003
|
0.26
|
>1
|
5.9
|
0.31
|
0.6
|
|
18RE
6
|
2.5
|
6.9
|
4.4
|
0.1
|
0.005
|
0.17
|
>1
|
11
|
0.44
|
0.42
|
|
18RE
6
|
14.3
|
40
|
25.7
|
0.1
|
0.003
|
0.15
|
>1
|
6.65
|
0.54
|
0.42
|
|
18RE
7
|
4.8
|
16
|
11.2
|
0.13
|
0.003
|
0.25
|
>1
|
6.94
|
0.53
|
0.41
|
|
18RE
8
|
7.3
|
13.6
|
6.3
|
0.13
|
0.006
|
0.17
|
>1
|
10.2
|
0.97
|
0.39
|
|
18RE
8
|
17.4
|
21.8
|
4.4
|
0.09
|
0.003
|
0.18
|
>1
|
7.89
|
0.5
|
0.47
|
|
18RE
8
|
24
|
50
|
26
|
0.13
|
0.003
|
0.14
|
>1
|
6.22
|
0.52
|
0.4
|
|
18RE
9
|
7.5
|
9.6
|
2.1
|
0.24
|
0.002
|
0.15
|
>1
|
8.85
|
0.887
|
0.36
|
|
18RE
9
|
15.6
|
27.4
|
11.8
|
0.31
|
0.004
|
0.19
|
>1
|
10.62
|
0.66
|
0.48
|
|
18RE
9
|
32.3
|
64
|
31.7
|
0.15
|
0.003
|
0.11
|
>1
|
6.15
|
0.55
|
0.48
|
|
18RE
10
|
2.7
|
10
|
7.3
|
0.15
|
0.003
|
0.11
|
0.74
|
5.9
|
0.41
|
0.31
|
|
18RE
11
|
3.2
|
19.2
|
16
|
0.21
|
0.004
|
0.21
|
>1
|
11.12
|
0.58
|
0.53
|
|
18RE
11
|
22.7
|
54
|
31.3
|
0.13
|
0.003
|
0.14
|
0.9
|
6.34
|
0.47
|
0.43
|
|
18RE
12
|
3.3
|
48
|
44.7
|
0.17
|
0.003
|
0.16
|
>1
|
6.59
|
0.39
|
0.51
|
|
18RE
12
|
includes
|
|
|
|
|
|
|
|
|
|
|
18RE
12
|
10
|
14
|
4
|
0.35
|
0.003
|
0.21
|
>1
|
8.7
|
0.47
|
0.62
|
|
18RE
13
|
6
|
52
|
46
|
0.13
|
0.003
|
0.15
|
>1
|
7.1
|
0.4
|
0.46
|
|
18RE
14
|
2.7
|
4
|
1.3
|
0.11
|
0.002
|
0.42
|
0.35
|
7.76
|
0.58
|
0.44
|
|
18RE
14
|
4
|
28
|
24
|
0.043
|
0.001
|
0.29
|
0.46
|
6.74
|
0.44
|
0.35
|
|
18RE
14
|
28
|
36.4
|
8.4
|
0.14
|
0.003
|
0.18
|
>1
|
6.8
|
0.37
|
0.53
|
|
18RE
14
|
40
|
69.5
|
29.5
|
0.14
|
0.004
|
0.12
|
>1
|
5.54
|
0.42
|
0.35
|
*: Geochemical analysis of Total Rare Earth Oxides("TREO") include:
La2O3,
Ce2O3,
Pr2O3,
Nd2O3,
Sm2O3,
Eu2O3,
Gd2O3,
Tb2O3,
Dy2O3,Ho2O3,
Er2O3,
Tm2O3,
Yb2O3,
Lu2O3,
and Y2O3
(NOTE: Pm & Sc not analyzed). Neodymium Oxide is defined as
Nd2O3
and expressed as a percent out of the TREO content. The four most
abundant rare earth oxides that make up the TREO reported above are
Cerium (Ce2O3),
Lanthanum (La2O3),
Neodymium (Nd2O3)
and Praseodymium (Pr2O3).
DDH
18RE-1, 5, 6, 8, 9, & 14 contain 2.3-7.4 meter
wide phyric
textured
pegmatite sills that are spatially associated with adjacent
Nb/REE
bearing carbonatite. The pegmatite sills contain low grade
Nb
and
REE values and cut the Nb/REE
bearing carbonatite. The distribution of Nb
and
REE will be evaluated by generating preliminary computer-generated,
43-101 compliant resource estimates. Future drilling in the area of
DDH 18RE-8, 9, 11, 12, & 13 is planned in order to assess the
vertical and lateral extent of the wider and higher-grade
intervals.
Figure 1. Drill core from REN drill program
Regional Geochemical Sampling Program
Highlighted
results from the geochemical sampling program are reported
below:
-
2,540ppm
Niobium in sample Y098697
-
1,885ppm
Niobium in sample Y098745
-
19.10ppm
Dysprosium in sample Y098731
-
44.4ppm
Tantalum in sample Y098746
-
1.15% Titanium
in sample Y098660
Field
reconnaissance was conducted by the Company's N.I. 43-101 Qualified
Person Andris
Kikauka.
Rock chip samples were collected and submitted to ALS Minerals in
North Vancouver, British Columbia for chemical analysis using XRF
whole rock analysis for oxides.
About REN
REN
lies within the Shuswap Metamorphic Complex,
a
belt of high-grade and intensely deformed metamorphic and intrusive
rocks in the core of the Columbian Orogen in southeastern B.C. The
Shuswap Complex, along its eastern margin, is characterized by a
series of fault-bounded domal culminations that expose mixed
paragneiss, granitic gneiss and migmatite of Paleoproterozoic age.
Unconformably overlying the gneissic "core complexes", a
heterogeneous and very distinctive assemblage of calc-silicate
gneiss, pelitic
gneiss,
quartzite and marble. The Mount Grace carbonatite, intrusive
carbonatites and bodies of synenite
gneiss occur
within autochthonous paragneiss above the core gneisses of the
Frenchman Cap dome. There are two types of carbonatite recognized
in the area. Type I, the intrusive phase and Type II, the extrusive
phase. Although rarely seen in contact, the Type I carbonatite has
been proposed as a feeder to the widespread Type II pyroclastic
flow represented by the Mount Grace carbonatite (Hoy,
1987).
All
regional tantalum, niobium and rare earth occurrences of record are
associated with the intrusive Type I phase. The Type II phase
rarely if ever carries minerals of economic importance. The Type I
carbonatite (known as the REN carbonatite) is located on the Ren
property. The carbonatite is a semi-concordant sheet like intrusion
and has been traced by mapping and trenching for approximately
three kilometers. It varies in width from less than 10 to
200 metres.
The carbonatite strikes generally northwest-southeast and dips from
25 to 45 degrees southwest. The rock weathers to a rough textured,
mottled orange brown color. It consists of 60-80% calcite, 10-30%
apatite, biotite/phlogopite, and accessory amphibole, pyroxene,
and sphene
with minor
pyrrhotite, pyrite, magnetite, ilmenite, molybdenite, chalcopyrite,
pyrochlore and monazite. Extensive zones of mafic biotite-rich
pyroxene-amphibole fenite
and
potassic feldspar-albite fenite
occur as
alteration envelopes peripheral to and within the carbonatite.
northwest with axial surface and both limbs dipping 30 to 45
degrees to the southwest. The tabular Type I REN carbonatite is the
unit of principal economic interest.
In
1988 Teck Explorations Limited completed stream silt sampling (89
samples) from four drainages, 17.85-line kilometers of magnetometer
surveying, 15.35-line kilometers of
spectrometer/scintillometer
surveying and
749 meters of trenching, mapped and sampling. The best niobium
values were from trench ATR-2 of 0.19% Nb
over a width of
55 meters. Carbonatite that was excavated in all trenches averaged
0.13% Nb. Cerium and lanthanum were all highly anomalous, but the
values were not plotted. This data is
historic in nature and based on drilling results reported by
previous operators. The Company believes this information, reports,
data and assays are reliable and relevant.
About Niobium
Niobium is
mainly used in the form of Ferro-Niobium to produce high strength,
low alloy steel which in
turn produces
lighter,
stronger steel for use in the
automotive,
structural and pipeline industries. The U.S. imports 100% of its
niobium needs. Niobium is listed as a strategic metal
and is being
considered for national stockpiling in the U.S., China, and several
European countries.
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.
About MGX Minerals Inc.
MGX
Minerals is a diversified Canadian resource and technology company
with interests in global advanced material,
energy
and
water assets.
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 (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.