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VANCOUVER, BC / ACCESSWIRE / August 19, 2020 / MGX Minerals Inc. ("MGX" or the "Company") (CSE:XMG)(FKT:1MG)(OTC PINK:MGXMF) is pleased to announce the completion of a site visit report in accordance with the N.I. 43-101. This report is an amendment to the previously filed Technical Report completed by SRK Consulting (Canada) Ltd. for the Heino Gold Deposit and Tillicum Claims dated June 2020. The majority of the report is provided below with complete report to be filed on SEDAR shortly:
Introduction
SRK undertook a site visit to the MGX's Heino Gold Project on 7-9 July 2020.
The primary aim of the Phase 1 work was to verify and resample mineralized intercepts from available historical drill core.
In addition, surface and underground outcrops were examined to gain an understanding of the geological controls on the mineralization and provide input to the Phase 2 lithological, structural and resource modelling.
Work was undertaking with the guidance and assistance of the MGX team and geologist Andris Kikauka
Geology overview
Mineralization is hosted within the Milford Group, a sequence of Upper Paleozoic to Triassic pelitic schists, calc-silicates and metavolcanoclastics
Three intrusive episodes are recognized:
Porphyritic dioritic sills (Jurassic)
Monzonitic Goat Canyon and Halifax Creek stocks (Late Cretaceous)
Lamprophyre dykes (Eocene)
The area is structurally complex with at least two stages of folding, multiple shear zones and faults recognised.
Peak metamorphic grade throughout the region is typically of sillimanite facies.
Geology overview
Gold and Silver is reported from shear zone related skarns developed adjacent to, or in close proximity to quartz monzodiorite porphyry sills.
Mineralization is strongly structurally controlled with two styles recognised:
1. Steeply dipping, Heino-Money Zone type mineralization 2. Shallower dipping East Ridge Zone type mineralization
The age, interrelationship and timing between the two styles is still poorly understood with some interpretations considering the highgrade Heino-Money Zone a remobilization and enrichment of the East Ridge Zone mineralization style.
Geology overview
Finely disseminated sulphides occur within the foliation or as coarse-grained aggregates with quartz, plagioclase, sericite, tremolite-actinolite, clinozoisite, garnet, biotite and microcline assemblages
Sulphides include pyrrhotite, pyrite-marcasite, arsenopyrite, sphalerite, galena, and minor chalcopyrite and tetrahedrite.
Native gold occurs within and along the margins of quartz calcsilicate segregations and associated with sulphides.
Drill Core observations
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Further work
From the site visit SRK can recommend the following to develop a more detailed understanding of the structure and controls on mineralization:
High resolution LiDAR survey with detailed structural interpretation
Further surface structural mapping
Development of a 3D lithostructural model
Integration of structural interpretation with high resolution geophysics
Understanding timing and kinematics of shearing and mineralization
Relationship of mineralization age to intrusive history
Re-evaluation of mineralization models. For example, Skarn type versus shear zone hosted and intrusion related systems?
Qualified Person
Andris Kikauka (P. Geo.), Vice President of Exploration for MGX Minerals, has prepared, reviewed and approved the scientific and technical information in this press release. Mr. Kikauka is a non-independent Qualified Person within the meaning of NI 43-101.
Advisors
Kingsdale Advisors is acting as strategic shareholder and communications advisor and Norton Rose Fulbright Canada LLP is acting as legal advisor to MGX Minerals Inc.
About MGX Minerals Inc.
MGX Minerals Inc. invests in commodity and technology companies and projects focusing on battery and energy mass storage technology, extraction of minerals from fluids, and exploration for industrial minerals and precious metals.
Contact Information
Neil Foran
Chief Financial Officer
[email protected]
Web: www.mgxminerals.com
Andy Radia
Director, Communications and Marketing
Kingsdale Advisors
Ph: 416-867-2357
[email protected]
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 forw
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