MGX Minerals Inc. and Belmont Resources Inc. today reported lab results from sampling of the first section drilled by mud rotary method to a depth of 387 m (1,270 feet) at the Kibby Basin Joint Venture Project in Nevada, USA.

The highest concentration of lithium occurred within a 91 m (300 feet) long intercept at depths between 296-387 m (970-1,270 feet) averaging 390 ppm lithium within dark grey-green clay-silt sediments, including an average of 415 ppm lithium between 338-369 m (1,110-1,210 feet) with a high of 580 ppm lithium. 

The second, lower section of the hole (KB-3) was completed with a core drill to a depth of 548 m (1,798 feet). Lab results from this 161 m (528 feet) wide section are pending and expected later this month. A total of 25 samples of representative core (ash layers, silicified sediments, and high pyrite and magnetite zones) were sent to the lab for multi-element analysis.

Most importantly, 10 water samples were collected at various levels from 113-532 m (370-1,745 feet) with results also pending and expected shortly. In case favorable lithium concentrations can be encountered in pumpable aquifers, MGX intends to deploy its award-winning rapid lithium extraction technology, which is currently at the final stages of commercial deployment in Alberta, Canada. 

Full size / Water sampling at the Kibby Basin.

Full size / Drill core in boxes for logging. 

Full size / Samples collected from the first section of KB-3 drilled by mud rotary method.

Final compilation, upon receipt of further assays, and scheduling for the second 2018 drill hole (KB-4) are being prepared. Drills will be mobilized to the second site as soon as possible.

Company Details

MGX Minerals Inc.
#303 - 1080 Howe Street
Vancouver, BC, Canada V6C 2T1
Phone: +1 604 681 7735 
Email: jared@mgxminerals.com
www.mgxminerals.com

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