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MGX Minerals now finished with electromagnetic survey at Salinitas lithium project

Last updated: 22:19 13 Aug 2018 AEST, First published: 17:19 13 Aug 2018 AEST

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Lithium is a buzz commodity currently due to its use in batteries

MGX Minerals Inc (CNSX:XMG, OTCQB:MGXMF) told investors Monday it had completed its previously announced electromagnetic survey at its Salinitas lithium brine project in northwest Argentina.

The 4,308 hectare contiguous land package lies in an area renowned for its lithium- and potassium-rich brine resources.

The survey was conducted across 52 stations at 500-metre gaps totalling  around  26 km. Interpretation of the data is expected to begin shortly.

MGX is now readying to carry out trenching as well as an auger drilling program to test for shallow, near-surface brines in preparation to define drill targets.

MGX has partnered with AIS Resources on the project and is currently earning an undivided 80% interest by incurring total exploration expenditures of at least US$1.2mln by May 31, 2020, and by making payments totalling US$3.2mln, which are primarily due at that time.

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on 16/12/17