MGX Minerals completes drilling at Koot

Jul 19, 2018

2018-07-19 06:26 ET – News Release

Mr. Jared Lazerson reports

MGX MINERALS COMPLETES DRILL PROGRAM AT BRITISH COLUMBIA SILICON PROPERTY

MGX Minerals Inc. has completed the previously announced diamond drill program on its Koot silicon project in British Columbia. A total of 782 metres (2,565 feet) of drilling were completed across 10 drill holes. Drill core has been split and sent to ALS Minerals in North Vancouver, B.C., for special carbide pulverizing disc preparation and ME-ICP06 whole-rock analysis. The summer 2018 drill program was designed to define an initial National Instrument 43-101 resource estimate. Additional drill work is planned at two of the company’s nearby silicon properties with the goal of also defining a resource. Historic exploration conducted by COMINCO during the 1980s outlined a mineralized zone spanning approximately 400 metres consisting of high-purity silicon dioxide (SiO2).

Solar silicon metallurgy work

Metallurgy work is now under way at Dofner ANZAPLAN, a leading silicon metal metallurgy and process engineering company. The process design for testing is complete and physical material is currently being tested. The purpose of the metallurgical work is to generate standard silicon metal (95 to 96 per cent silicon) and potentially solar-grade silicon metal (99.9999 per cent) process design options for feedstock from the company’s silicon projects.

Solar industry

The global solar energy industry is expected to reach $422-billion by 2022 according to Allied Market Research, with a compounded annual growth rate of 24.2 per cent between 2016 and 2022. MGX has prioritized evaluation and development of its silicon projects for silicon metal potential. One of the primary uses of silicon metal is in solar panels. Solar panels are a cornerstone to remote and distributed energy solutions.

Energy storage applications

The adoption of grid storage is projected to increase exponentially over the next decade and development of photovoltaic (PV) storage systems is seen as an essential driver to replace existing conventional sources. MGX has invested in low-cost mass energy storage systems through the acquisition of ZincNyx Energy Solutions in December, 2017 (see press release dated Dec. 13, 2017). Solar, combined with a mass storage system such as that currently under development by ZincNyx, serves to replace or augment diesel generators, as well as having broad applications in energy storage for residential and commercial grid load balancing and backup, and in providing primary and backup power for industrial sites, telecommunications, large-scale computer server arrays and military bases. Additional information on the integration of solar with ZincNyx energy storage systems is available at ZincNyx’s website.

Qualified person

Andris Kikauka, PGeo, 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 company with interests in advanced material and energy assets throughout North America.

We seek Safe Harbor.

https://www.mgxminerals.com/investors/news/2018.html