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Silicon
Metallurgical testing on an one ton sample from the Company’s Gibraltar Silica deposit, located 95 kilometers north-east of
The demand for silicon metal continues to grow and recent supply chain bottlenecks have limited overall supply, creating an opportunity for the distribution of silicon in
Gibraltar Silica
The Gibraltar Silica Propertyis located approximately 95 kilometres northeast of
The Company has completed 5 drill holes at
Table 1. Gibraltar Drill Results
DDH No. | Azimuth | Dip Deg. | Depth(m) | From’(m) | To(m) | Interval(m) | SiO2% |
18G-1 | 345 | 45 | 45.7 | 6.0 | 27.0 | 21.0 | 99.24 |
18G-2 | 270 | 45 | 38.1 | 4.4 | 30.0 | 25.6 | 99.10 |
18G-3 | 020 | 45 | 42.7 | 5.8 | 24.0 | 18.2 | 99.11 |
18G-4 | 290 | 50 | 6.0 | 24.0 | 18.0 | 18.0 | 98.70 |
18G-5 | vertical | 90 | 12.0 | 18.0 | 6.0 | 6.0 | 99.20 |
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Koot Silica
The Koot Silica project is located proximate (5 kilometres) to
Table 2. Koot Drill Results
DDH No. | From (m) | To (m) | Interval (m) | SiO2% | Al2O3% | Fe2O3% | K2O % | TiO2 % | LOI % | Total % | SiO2 / Total% |
18K-1 | 0.9 | 56.39 | 55.49 | 98.5 | 0.54 | 0.39 | 0.17 | 0.13 | 0.49 | 100.25 | 98.15 |
18K-2 | 0.9 | 76.20 | 75.3 | 97.9 | 0.51 | 0.24 | 0.10 | 0.14 | 0.30 | 99.30 | 98.64 |
18K-3 | 1.5 | 106.68 | 106.18 | 98.7 | 0.33 | 0.24 | 0.10 | 0.10 | 0.26 | 99.84 | 98.88 |
18K-4 | 0.0 | 86.0 | 86.0 | 98.3 | 0.37 | 0.38 | 0.14 | 0.12 | 0.36 | 99.81 | 98.5 |
18K-5 | 2.0 | 99.0 | 97.0 | 98.1 | 0.70 | 0.33 | 0.19 | 0.14 | 0.41 | 99.90 | 98.16 |
18K-6 | 2.2 | 36.0 | 33.8 | 99.0 | 0.97 | 0.09 | 0.29 | 0.06 | 0.33 | 100.89 | 98.28 |
18K-7 | 6.0 | 54.0 | 58.0 | 99.0 | 0.44 | 0.25 | 0.12 | 0.12 | 0.40 | 100.41 | 98.61 |
18K-9 | 2.3 | 77.72 | 75.42 | 98.4 | 0.43 | 0.37 | 0.11 | 0.11 | 0.42 | 99.95 | 98.43 |
18K-10 | 2.25 | 54.0 | 51.75 | 98.9 | 0.39 | 0.23 | 0.08 | 0.11 | 0.32 | 100.16 | 98.78 |
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Processing
The processing of silica to silicon is a relatively simple process primarily dependent on high quality feedstock. Additional ingredients of wood chips, for spacing, and metallurgical grade coal, to reduce energy requirements and assist in even heat transfer are required. Both of these ingredients as well as electricity, at a globally competitive price, are available in the region. The materials are top loaded into a submerged arc furnace (“SAF”) and heated to 1600 degrees Celsius melting the silica which is then bottom poured into bricks which are ground into 3”- 4” pieces for shipping. MGX has issued a global request for quotation (‘RFQ’) from major furnace manufacturers with minimum specification of 1,000 tonnes per month as outlined in the LOI.
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About
Contact Information:
mgxminerals.com
Chief Executive Officer
andris@mgxminerals.com
604 373 8565
Forward-Looking Statements
This press release contains forward-looking information or forward-looking statements (collectively, "forward-looking information") within the meaning of applicable securities laws. All statements, other than statements of historical fact, included herein are forward‐looking information. Forward-looking information in this press release include, but are not limited to, statements with respect to holding the postponed Meeting, and the filing of an amended notice of meeting and record date for the postponed Meeting. Forward-looking information is generally, but not always, identified by the words "expects", "plans", "anticipates", "in the event", "if", "believes", "asserts", "position", "intends", "envisages", "assumes", "recommends", "estimates", "approximate", "projects", "potential", "indicate" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur.
The Company’s forward-looking information are based on the applicable assumptions and factors the Company considers reasonable as of the date hereof, based on the information available to the Company at such time, including without limitation, the ability to host the postponed Meeting at a later date, and the ability to find a suitable location which can accommodate an in-person shareholders’ meeting. The Company cautions investors that any forward-looking information provided by the Company is not a guarantee of future results or performance, and that actual results may differ materially from those in forward-looking information as a result of various risk factors. These factors include, among others, uncertainties arising from the COVID-19 pandemic, and general economic conditions or conditions in the financial markets. The reader is referred to the Company's public filings for a more complete discussion of such risk factors, and their potential effects, which may be accessed through the Company's profile on SEDAR atwww.sedar.com. Except as required by securities law, the Company does not intend, and does not assume any obligation, to update or revise any forward-looking information, whether as a result of new information, events or otherwise.
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