BRITISH COLUMBIA – If Vancouver-based MGX Minerals is correct, it may be on its way to creating next magnesium oxide mine at Driftwood Creek, located 53 km southeast of Golden and 164 km northwest of Cranbrook. MGX has a 100% option on the property that is a joint venture of Eaton Industries (Canada) and Highbury Energy.
MGX has secured a 20-year mining lease and finished a 100-tonne bulk sample of the deposit, and now it has published the maiden resources estimate: 8.03 million measured and indicated tonnes grading 43.31% MgO; and 846,000 inferred tonnes at 43.20% MgO. The deposit has a strike of 2,000 metres and is open both along strike and at depth.
According to the Driftwood Creek timeline, MGX will apply for the mine plan approval and an operating permit this winter. If construction starts in the spring, mining could begin late next year.
Please visit www.MGXminerals.com for additional information.