MGX Minerals Announces 6.78% Li2O from Spodumene Grab Sample, Gullwing Lake Pegmatite
(firmenpresse) -
MGX Minerals Announces 6.78% Li2O from Spodumene Grab Sample, Gullwing Lake Pegmatite
VANCOUVER, BRITISH COLUMBIA / September 10, 2018 / MGX Minerals Inc. (MGX or the Company) (CSE: XMG / OTCQB: MGXMF / FSE: 1MG) is pleased to announce that joint-venture partner Power Metals Corp. (TSX.V: PWM) (Power Metals) has reported that assays have confirmed the presence of high grade Lithium (Li) and Tantalum (Ta) mineralization on Gullwing-Tot Lakes Property located 30 km northeast of Dryden, Ontario. Gullwing Lake pegmatite and Tot Lake pegmatite are located 6.3 km apart and are hosted by the same mafic metavolcanics unit.
The assay highlights from grab samples from Tot Lake pegmatite include:
- 4.58 % Li2O from quartz - spodumene core, sample 159056 (Figure 1)
- 2.62 % Li2O from quartz - spodumene core, sample 159057
- 1.68 % Li2O and 233 ppm Ta from pink spodumene pegmatite zone, sample 1590235
- 498 ppm Ta from albitized K-feldspar zone, sample 159238 (Figure 2)
The assay highlights from grab samples on the Gullwing North outcrop include:
- 6.78 % Li2O from pure spodumene sample, sample 159082 (Figure 3)
- 0.73 % Li2O from spodumene - albite - quartz sample, sample 159084
- 759 ppm Ta from large Ta-oxide crystals in albite unit, sample 159254 (Figure 4)
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Figure 1. Spodumene - quartz core, sample 159056, Tot Lake
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Figure 2. Coarse-grained Ta-oxide in albitized K-feldspar zone, sample 159238, Tot Lake
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Figure 3. Pure spodumene sample with trace lepidolite, sample 159082, Gullwing North outcrop
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Figure 4. Large Ta-oxide crystal on albite, sample 159254, Gullwing North outcrop
Location map for Gullwing and Tot Lakes pegmatites is given in Figure 5 and tables of assays and UTM coordinates are given in Tables 1 and 2.
Mapping on Tot Lake pegmatite revealed eye-popping lithium and tantalum mineralization with pale green megacrystic spodumene blades up to 75 cm long and 15 cm wide identified next to megacrystic K-feldspar crystals in historical trench 3 (Power Metals Corp, press release dated July 11, 2018). The Ta-oxide crystals are up to 1 by 2 cm in size and are some of the largest Ta-oxide crystals in pegmatites in the province of Ontario. Typically, Ta-oxide minerals are 1 to 2 mm in size. In addition to lithium and tantalum mineralization, the cesium mineralization is also impressive at Tot Lake. Pollucite (Cs ore mineral) at Tot Lake is concentrated in a 1 by 5 m pod near the southwestern end of the pegmatite dyke where it comprises 32 vol% of the pod (Breaks et al., 2014). Pollucite is rare in nature and is only known at four other pegmatite localities in Ontario (Breaks et al., 2014). Pollucite is an indicator mineral for extreme chemical fractionation.
Table 1. High grade Li assays for grab samples from Gullwing and Tot Lakes pegmatites, UTM NAD 83, Zone 15.
Sample Station EastingNorthinElevatiLithologTa Li2O Pegmatite
No. (m) g on y (ppm (%)
(m) (m) )
159082 JK-18-15532777 5529476397 Pegmatit7.2 6.78 Gullwing
7 e North
159056 JK-18-12538935 5530873287 Pegmatit27.8 4.58 Tot Lake
6 e
159057 JK-18-12538935 5530872287 Pegmatit78 2.62 Tot Lake
6 e
159235 AV-18-07538930 5530873397 Pegmatit233 1.68 Tot Lake
5 e
159059 JK-18-12538934 5530872396 Ultramaf18.2 0.757Tot Lake
6 ic
Volcani
c
159084 JK-18-15532777 5529480393 Pegmatit40.6 0.733Gullwing
8b e North
159058 JK-18-12538936 5530878392 Pegmatit9.2 0.551Tot Lake
7 e
159241 AV-18-08538932 5530877400 Pegmatit40 0.512Tot Lake
0 e
Sample 159059 represents the metasomatized ultramafic host rock
next to spodumene-rich pegmatite.
Table 2. High grade Ta assays for grab samples from Gullwing and Tot Lakes pegmatites, UTM NAD 83, Zone 15.
SampleStationEastinNorthinElevatiLitholoTa Li2OPegmatite
No. g g on gy (ppm (%)
(m) (m) (m) )
159254AV-18-15327835529473401 Pegmati759 0.00Gullwing
04 te 7 North
159238AV-18-05389185530897399 Pegmati498 0.01Tot Lake
78 te 9 (north)
159235AV-18-05389305530873397 Pegmati233 1.68Tot Lake
75 te
159237AV-18-05389165530888401 Pegmati227 0.34Tot Lake
77 te 2
159239AV-18-05389335530876397 Pegmati208 0.00Tot Lake
79 te 4
159262AV-18-15327745529386413 Pegmati150 0.01Central
11 te 3 Gullwing
159236AV-18-05389355530874395 Pegmati101 0.06Tot Lake
76 te 1
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Figure 5. Location of high grade grab samples from Gullwing and Tot Lakes pegmatites, northeast of Dryden.
Quality Control
The grab samples were shipped to SGS analytical lab in Lakefield, Ontario by Manitoulin Transport. SGS analytical lab in Lakefield has ISO 17025 certification. Every 20 samples included one external quartz blank and one external lithium standard. The ore grade Li2O% was prepared by sodium peroxide fusion with analysis by ICP-OES with a detection limit of 0.002 % Li2O. A QA/QC review of the standards and blanks for this mapping program indicate that they passed and the assays are accurate and not contaminated.
Gullwing-Tot Lakes
Gullwing-Tot Lakes Property is located in Drope and Webb townships, 30 km northeast of Dryden, NW Ontario with excellent road access. Gullwing and Tot Lakes pegmatites contain spodumene. The Property was optioned from Exiro Minerals Corp. in 2017 (Power Metals press release dated April 20, 2017). The Property is located 5.5 km northeast of the Mavis Lake spodumene pegmatite field.
Terms of the Joint-Venture
MGX currently has a paid 20% working interest in five lithium hard rock properties in Ontario controlled by Power Metals Inc as well as any additional properties acquired by Power Metals prior to August 2020. MGX also maintains the right to acquire an additional 15% working interest, for a total of 35%, in each of the hard rock lithium properties by making a one-time payment of $10M prior to August 2020. MGX currently holds an option to acquire 10,000,000 shares of Power Metals at $0.65 (see press release dated August 2, 2017 - https://goo.gl/eBjYXy).
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
MGX Minerals is a diversified Canadian resource company with interests in advanced material and energy 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 (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.
Leseranfragen:
MGX is involved in the acquisition and exploration of industrial mineral properties in Western Canada. MGX has the right to acquire a 100% interest in the Driftwood Creek Magnesite Property located in the Golden mining district in southeast British Columbia. In addition to Driftwood Creek, MGX holds a portfolio of magnesite exploration properties in British Columbia. MGX’s wholly owned subsidiary, Manto Gold Corp., is engaged in gold exploration and holds a right to acquire a 100% interest in the 10,000 ha. Fran Gold Property, located 20km southwest of Mount Milligan in central British Columbia.
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Datum: 10.09.2018 - 12:21 Uhr
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News-ID 580760
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