VANCOUVER, British Columbia, Sept. 23, 2016 (GLOBE NEWSWIRE) -- MGX Minerals Inc. (“MGX” or the “Company”) (CSE:XMG) (FKT:1MG) (OTC:MGXMF) is pleased to announce the commencement of process integration for MGX’s proprietary lithium brine rapid extraction process and Purlucid’s proprietary brine treatment technologies.
Purlucid’s technology uses patented and proprietary High Intensity Froth Flotation and submerged membrane ultrafiltration technology to substantially reduce operating and capital costs of traditional oil and gas water treatment. Initial engineering review of the technologies has identified potential integration and operational benefits, including a constant flow of lithium-bearing brine, with the overwhelming majority of physical particulate removed. This brine would provide the feedstock for MGX’s rapid lithium extraction process at a single integrated plant location.
“We are planning, with expert external review, our research and development program that will combine both the technologies to achieve water treatment goals for the industry while recovering lithium in the most cost effective manner possible,” said Purlucid CEO Dr. Preston McEachern. “The efficiency and economics of lithium recovery is controlled by the brine chemistry. Our next big step is to review the large brine resources available to MGX and Purlucid and determine the recovery efficiency and revenue potential for each resource. This will focus our commercial deployments.”
Lithium-bearing brine samples will be tested from a number of locations where MGX and Purlucid have agreements or contracts in place for access to the resources. These include existing mineral claims held by MGX directly, by option, or by royalty agreement as well as Purlucid's wastewater processing agreements. Upon initial engineering review by Purlucid several process efficiencies were recognized in the integration process that may drive down capital and operating costs while also improving lithium recovery and wastewater treatment outcomes. Engineering design of the lithium recovery process is a critical component of the integration program. Purlucid will be building and operating a bench scale lithium recovery system over the next month and a field pilot system by the end of the year, with the involvement of academic partners at the University of Alberta, Saskatchewan Research Council and Alberta Innovates assisting in or reviewing the integration plan and results.
MGX Minerals recently completed a rights offering (see press release dated September 21, 2016) raising gross proceeds of $1.8 million for the advancement of its lithium and magnesium projects.
About Purlucid
Purlucid’s nanoflotation technology can treat water to ultrafiltration standards (e.g. 0.01 micron filtration) at lower capital and operating costs while improving reliability and ease of use. The energy efficiency of Nanoflotation over competitive technologies has been proven in extensive third-party evaluations. Energy consumption is reduced by 90% over conventional membrane technology with continuous restoration of 100% flux rates after backwash. Flotation systems benefit with 2 to 4 fold increases in separation efficiency. Systems have been deployed and effectively removed 99.9% of both free and emulsified oil from high solids brine streams without impacting reliability or performance.
About MGX Minerals
MGX Minerals (CSE:XMG) is a diversified Canadian mining company engaged in the development of large-scale industrial mineral portfolios in western. The Company operates lithium, magnesium and silicon projects throughout British Columbia and Alberta. MGX recently released a maiden National Instrument (N.I. 43-101) compliant mineral resource estimate for its Driftwood Creek magnesium project, which outlined 8 million tonnes grading 43.31% magnesium oxide. In January the Company received a 20-year Mining Lease for Driftwood Creek. Additionally, the Company recently acquired the Sturgeon Lake lithium brine project in west-central Alberta, increasing the Company's lithium brine land position to over 376,000 hectares throughout the Province. For further information, please visit the Company's website at www.mgxminerals.com.
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This press release contains forward-looking information or forward-looking statements including the completion of the rights offering (collectively "forward-looking information") within the meaning of applicable securities laws. Forward-looking information is typically identified by words such as: "believe", "expect", "anticipate", "intend", "estimate", "potentially" and similar expressions, or are those, which, by their nature, refer to future events. 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 factors. 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 at www.sedar.com.