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MGX Minerals Prepares to Dead-Burn Assay Drill Core at Driftwood Creek Magnesite Property

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VANCOUVER, BRITISH COLUMBIA / ACCESSWIRE / November 17, 2014 / MGX Minerals Inc. ("MGX" or the "Company") (CSE: XMG) reports that preparations are underway to re-assay historic drill core previously compiled at the Company's flagship Driftwood Creek magnesite project ("Driftwood Creek" or the "Property") in southeastern British Columbia.

The drill core, which was originally collected by Tusk Exploration Ltd. in 2008, was part of a seven-hole, 692 meter NQ-sized diamond drill program testing the thickest portion of the Western Zone at Driftwood (see Figure 1, Table 1). Approximately 325 meters of strike length and 140 meters of thickness were tested (Klewchuk, 2008).

The Company will submit the original 2008 drill core to ALS Minerals in North Vancouver, British Columbia for dead-burned magnesia ("DBM") analysis. Samples will be roasted at a temperature of 1,700? Celsius prior to using XRF whole rock analysis. This procedure will reduce the carbon content of each sample and provide a more accurate representation of the potential marketable DBM product. Refractory grade DBM is used extensively in steel production to serve as both protective and replaceable linings for equipment used to handle molten steel.

Results of the chemical analysis will be submitted for addition into the Company's N.I. 43-101 compliant maiden resource estimate on Driftwood, which is nearing completion.

Figure 1. Location of historic drill holes completed on western zone at Driftwood Creek

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Table 1. Assay results of 2008 diamond drill holes completed on western zone at Driftwood Creek

 ---------------------------------------------------
 |Zone   |Hole   |From (m)|To (m)|Length (m)|MgO % |
 |-------------------------------------------------|
 |Western|MG-08-1|2.00    |133.00|131.00    |37.60%|
 |-------------------------------------------------|
 |Western|MG-08-2|2.00    |132.00|130.00    |38.70%|
 |-------------------------------------------------|
 |Western|MG-08-3|1.00    |45.60 |44.60     |35.80%|
 |-------------------------------------------------|
 |Western|MG-08-4|2.00    |68.60 |66.60     |35.70%|
 |-------------------------------------------------|
 |Western|MG-08-5|0.70    |95.80 |95.10     |35.20%|
 |-------------------------------------------------|
 |Western|MG-08-6|0.70    |91.10 |90.40     |36.15%|
 |-------------------------------------------------|
 |Western|MG-08-7|3.50    |72.00 |68.50     |36.40%|
 ---------------------------------------------------

Qualified Person

Andris Kikauka, Vice President of Exploration for MGX Minerals, and a non-independent Qualified Person as defined by N.I. 43-101, has reviewed the information contained in this news release and has verified the data.

About Magnesite

Magnesite in its purest form is 47.6% Magnesium Oxide ("MgO"). Magnesite generally serves as an excellent feedstock for the production of MgO. MgO in turn is a valuable and widely used industrial mineral. Uses of MgO include abrasives, animal feed supplements, chemicals, coatings, construction, electrical, fertilizers, foundries, glass manufacture, insulation, lubricating oils, pharmaceuticals, plastics manufacture, refractory and ceramics, rubber compounding, steel industry, sugar refining, sulfite wood pulping, and wastewater treatment. At this time MGX is focused on the refractory and steel industries.

About MGX Minerals

MGX Minerals (CSE: XMG) is a diversified Canadian mining company engaged in the acquisition and development of industrial mineral deposits in western Canada that offer near-term production potential, minimal barriers to entry and low initial capital expenditures. For more information please visit the Company's website at www.mgxminerals.com.

For further information on MGX, please contact:
Jared Lazerson
Chief Executive Officer
MGX Minerals Inc.
Telephone: 604.681.7735
Email: jared@mgxminerals.com

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", "postulate" 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.

 

SOURCE: MGX Minerals Inc.  

 

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