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MGX Minerals Inc. (CSE: XMG) New Listing

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MGX Minerals is a diversified Canadian mining company engaged in the acquisition, exploration and development of highly prospective mineral properties in secure jurisdictions of Western Canada.The Company’s flagship properties are the Driftwood Creek magnesite deposit and the Fran gold property, both located in British Columbia.

Additional Information:

Company: MGX Minerals Inc.
Website: http://www.mgxminerals.com/
Stock Symbol: CSE: XMG
Date Published: Oct 8, 2014
Transcript: Available

Video Transcript:

I’m Samantha Deutscher for Investmentpitch Media

MGX Minerals Inc. is one of the latest new listings on the Canadian Securities Exchange, and is trading under the symbol “XMG”.

MGX Minerals is a diversified Canadian mining company engaged in the acquisition, exploration and development of highly prospective mineral properties in secure jurisdictions of Western Canada.

The Company’s flagship properties are the Driftwood Creek magnesite deposit and the Fran gold property, both located in British Columbia.

At Driftwood Creek, magnesite mineralization occurred at surface in two discrete zones and was traced over a strike length of 1,900 metres and to a width of 220 metres, remaining open in both directions and at depth.

There is a historic Inferred resource estimate totaling 22.5 million tonnes of magnesite using 2.5 specific gravity.

The company optioned the property in 2014 and subsequently completed an 8-hole, 1,400 foot diamond drill program on the Eastern zone.

The results of the drill program are currently being compiled to produce a maiden NI 43-101 compliant resource estimate.

Magnesite in its purest form is 47.6% Magnesium Oxide which is a valuable and widely used industrial mineral.

At this time the company will focus on the refractory and steel industry markets.

The Fran gold property, located just 30 kilometers northeast of the Mt. Milligan mine, covers 10,200 hectares.

A total of 87 historic diamond drill holes spanning more than 15,000 meters have been completed to date.

Significant gold mineralization has been intersected in three areas along the 1.5 kilometer northwest trending Bullion Alley zone.

A two phase exploration and development program has been outlined, with phase one including additional trenching and geologic mapping combined with compilation of historic drill data to prepare a maiden NI 43-101 complaint mineral resource estimate.

A small 100 tonne bulk sample for metallurgical testing and commencement of environmental baseline studies is suggested.

Phase two plans include additional diamond drilling, extraction of a 5,000 tonne bulk sample, completion of a NI 43-101 compliant Preliminary Economic Assessment and commencement of permitting activities.

The company has 26.1 million shares outstanding.

For more information, please visit the company’s website www.mgxminerals.com, or contact Jared Lazerson, CEO at 604-681-7735 or by email at jared@mgxminerals.com.

I’m Samantha Deutscher for Investmentpitch Media
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