(MENAFN- ProactiveInvestors - N.America) MGX Minerals Inc (CNSX:XMG) now controls 14 of the top 25 historical high grade lithium properties in Alberta, it was revealed this week.
High grade properties are defined as those with at least 90 milligrams lithium (mg/L).
The revelation came after a scour through datasets comprising lithium geochemical data from ground and formation water in Alberta and near the Alberta border, MGX said.
The data was captured from several databases, including the Alberta Geological Survey (oil and gas wells database, AERI and Beaver River Basin projects), and the Alberta Research Council.
In all, there are 1,511 records, of which 48 records have more than 75 mg/L lithium.
Nineteen analyses have more than 100 mg/L lithium (up to 140 mg/L) and occur within the Middle to Upper Devonian Beaverhill Lake Formation and Woodbend and Winterburn groups of west-central to north-western Alberta.
MGX also reported it has engaged APEX Geoscience to complete a National Instrument (NI) 43-101 compliant technical report on MGX's Alberta lithium properties.
In all, MGX has more than 300,000 hectares of land that, as indicated above, has high levels of lithium-bearing brine.
The company has identified an initial group of 16 formerly producing wells for test production, located within the lithium-bearing brine pools of the Swan Hills formation near Fox Creek in Alberta.
MGX's properties are generally associated with past producing oil fields served by roads and power supply.
The company believes that completion of an NI 43-101 compliant technical report is an important first step towards potentially developing future mineral resources for the properties. The technical report will include detailed geological and historical information on the properties and is expected to be completed in one month.
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