Visitors Now:
Total Visits:
Total Stories:
Profile image
By ProactiveInvestors (Reporter)
Contributor profile | More stories
Story Views

Now:
Last Hour:
Last 24 Hours:
Total:

MGX Minerals Inc completes latest drilling program at Driftwood Creek

Tuesday, October 25, 2016 7:05
% of readers think this story is Fact. Add your two cents.

(Before It's News)

Shares in MGX Minerals Inc (CNSX:XMG) opened higher after it completed infill and extension diamond drilling at its flagship Driftwood Creek magnesium deposit.

The drilling program successfully intercepted large intersections of magnesite mineralization consistent with past drilling and three-dimensional modelling.

Step out drilling has intercepted magnesite mineralization along strike both to the East and West ends of the known resource, MGX told shareholders.

The drill program was increased to a total of 16 drill holes, totaling 1,211 metres with lengths ranging between 31 and 184 metres.

In total, 386 split core samples were shipped for whole rock geochemical analysis.

Results will provide further information for the preliminary economic assessment of the asset in British Columbia, and should not only reveal potential economic extraction, but also a revised resource estimate.

This is the third diamond drill program completed by MGX at Driftwood, in addition to 100 tonne bulk sample completed in June 2016.

Shares in MGX opened 3.3% higher at CS$0.155 on the news.

Story by ProactiveInvestors

Report abuse

Comments

Your Comments
Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

Top Stories
Recent Stories

Register

Newsletter

Email this story
Email this story

If you really want to ban this commenter, please write down the reason:

If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.