VANCOUVER, BC / ACCESSWIRE / October 7, 2021 / MGX Minerals Inc. ("MGX" or the "Company") (CSE:XMG) (FKT:1MG) (OTC:MGXMF) announces a strategic review is underway of its REN niobium-tantalum-titanium-rubidium project for nuclear and space metals. These metals are generally known for their high melting point and ability to withstand extreme heat. The previously explored REN property, located in British Columbia, was drilled by MGX in 2018. Results of the 14 hole 1249 meter drill program, included a drill intersection of 44 meters of 1700ppm niobium with tantalum, titanium, and rubidium, see press release.
Niobium has both a high thermal conductivity and high melting point and is used in nickel superalloys for aerospace applications such as turbine blades and rocket components, as well as, nuclear applications such as fuel and heat exchangers.
Fall 2018 Drill Program
As previously reported, a 14-hole, 1,249-meter drill program was completed at REN covering an area of approximately 200x600 meters in the central portion of the mineral claims. The goal of the drill program was to test magnetic positive anomalies generated from a magnetometer survey completed earlier this year. Results from the drill program returned positive niobium grades and wider than expected zones. A total of 670 samples split core samples (at 2-meter intervals) were analyzed by ALS Geochemistry using method ME-MS89L (sodium peroxide fusion, reporting 52 elements, as well as additional elements Zr and P). Results have now been compiled with assay results from select holes reported below:
Table 1. REN 2018 Drill Hole Assays Results
| DDH | From (m) | To (m) | Int (m) | Nb2O5 % | Ta2O5 % | *TREO % | P% | FeO % | TiO2 % | MnO % |
| 18RE 1 | 3.28 | 3.58 | 0.3 | 0.16 | 0.002 | 0.16 | >1 | 4.36 | 0.292 | 0.59 |
| 18RE 1 | 10.48 | 20.5 | 10.02 | 0.13 | 0.002 | 0.18 | >1 | 6.82 | 0.62 | 0.49 |
| 18RE 2 | 6.56 | 10 | 3.44 | 0.04 | 0.001 | 0.09 | 0.29 | 6.1 | 0.75 | 0.14 |
| 18RE 3 | 29.5 | 33.5 | 4 | 0.18 | 0.003 | 0.14 | >1 | 4 | 0.07 | 0.47 |
| 18RE 4 | 3.6 | 13 | 9.4 | 0.19 | 0.004 | 0.15 | >1 | 5.1 | 0.22 | 0.34 |
| 18RE 5 | 2.6 | 3.7 | 1.1 | 0.11 | 0.002 | 0.22 | >1 | 7.01 | 0.47 | 0.37 |
| 18RE 5 | 6 | 10 | 4 | 0.21 | 0.003 | 0.35 | >1 | 6.1 | 0.26 | 0.56 |
| 18RE 5 | 12.3 | 38 | 25.7 | 0.14 | 0.003 | 0.26 | >1 | 5.9 | 0.31 | 0.6 |
| 18RE 6 | 2.5 | 6.9 | 4.4 | 0.1 | 0.005 | 0.17 | >1 | 11 | 0.44 | 0.42 |
| 18RE 6 | 14.3 | 40 | 25.7 | 0.1 | 0.003 | 0.15 | >1 | 6.65 | 0.54 | 0.42 |
| 18RE 7 | 4.8 | 16 | 11.2 | 0.13 | 0.003 | 0.25 | >1 | 6.94 | 0.53 | 0.41 |
| 18RE 8 | 7.3 | 13.6 | 6.3 | 0.13 | 0.006 | 0.17 | >1 | 10.2 | 0.97 | 0.39 |
| 18RE 8 | 17.4 | 21.8 | 4.4 | 0.09 | 0.003 | 0.18 | >1 | 7.89 | 0.5 | 0.47 |
| 18RE 8 | 24 | 50 | 26 | 0.13 | 0.003 | 0.14 | >1 | 6.22 | 0.52 | 0.4 |
| 18RE 9 | 7.5 | 9.6 | 2.1 | 0.24 | 0.002 | 0.15 | >1 | 8.85 | 0.887 | 0.36 |
| 18RE 9 | 15.6 | 27.4 | 11.8 | 0.31 | 0.004 | 0.19 | >1 | 10.62 | 0.66 | 0.48 |
| 18RE 9 | 32.3 | 64 | 31.7 | 0.15 | 0.003 | 0.11 | >1 | 6.15 | 0.55 | 0.48 |
| 18RE 10 | 2.7 | 10 | 7.3 | 0.15 | 0.003 | 0.11 | 0.74 | 5.9 | 0.41 | 0.31 |
| 18RE 11 | 3.2 | 19.2 | 16 | 0.21 | 0.004 | 0.21 | >1 | 11.12 | 0.58 | 0.53 |
| 18RE 11 | 22.7 | 54 | 31.3 | 0.13 | 0.003 | 0.14 | 0.9 | 6.34 | 0.47 | 0.43 |
| 18RE 12 | 3.3 | 48 | 44.7 | 0.17 | 0.003 | 0.16 | >1 | 6.59 | 0.39 | 0.51 |
| 18RE 12 | includes | |||||||||
| 18RE 12 | 10 | 14 | 4 | 0.35 | 0.003 | 0.21 | >1 | 8.7 | 0.47 | 0.62 |
| 18RE 13 | 6 | 52 | 46 | 0.13 | 0.003 | 0.15 | >1 | 7.1 | 0.4 | 0.46 |
| 18RE 14 | 2.7 | 4 | 1.3 | 0.11 | 0.002 | 0.42 | 0.35 | 7.76 | 0.58 | 0.44 |
| 18RE 14 | 4 | 28 | 24 | 0.043 | 0.001 | 0.29 | 0.46 | 6.74 | 0.44 | 0.35 |
| 18RE 14 | 28 | 36.4 | 8.4 | 0.14 | 0.003 | 0.18 | >1 | 6.8 | 0.37 | 0.53 |
| 18RE 14 | 40 | 69.5 | 29.5 | 0.14 | 0.004 | 0.12 | >1 | 5.54 | 0.42 | 0.35 |
*: Geochemical analysis of Total Rare Earth Oxides("TREO") include: La2O3, Ce2O3, Pr2O3, Nd2O3, Sm2O3, Eu2O3, Gd2O3, Tb2O3, Dy2O3,Ho2O3, Er2O3, Tm2O3, Yb2O3, Lu2O3, and Y2O3 (NOTE: Pm & Sc not analyzed). Neodymium Oxide is defined as Nd2O3 and expressed as a percent out of the TREO content. The four most abundant rare earth oxides that make up the TREO reported above are Cerium (Ce2O3), Lanthanum (La2O3), Neodymium (Nd2O3) and Praseodymium (Pr2O3).
Qualified Person
Andris Kikauka (P. Geo.), Chief Executive Officer of 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 and technology company with interests in advanced metals, industrial minerals, and energy technologies.
Contact Information:
Andris Kikuaka
Chief Executive Officer
[email protected]
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SOURCE: MGX Minerals Inc.