Diversified resource and technology company MGX Minerals Inc. (CSE: XMG) (FKT: 1MG) (OTCQB: MGXMF) this morning announced that the site survey at its Paradox Basin Petrolithium Project has been completed, clearing the way for 3D seismic geophysics. Per the update, the purpose of the geophysical survey, which includes data from roughly 9,000 source points, is to outline subsurface geological formations and structures that are favorable for accumulations of oil and gas, as well as lithium brine bearing formations. The surveyed Blueberry Unit consists of over 80,000 acres of federal, state and private land, the overwhelming majority of which are currently controlled by MGX. As noted in this morning’s news release, MGX is currently earning a 75 percent working interest in the Blueberry Unit project, with the remaining interest primarily controlled by a private Utah corporation engaged by MGX as a subcontracted operator.
To view the full press release, visit http://dtn.fm/3tA2k
Let us hear your thoughts: MGX Minerals Inc. Message Board
About MGX Minerals
MGX Minerals is a diversified Canadian resource and technology company with interests in lithium, magnesium and silicon assets throughout North America. MGX currently owns 34% of PurLucid and has the exclusive right to acquire a 100% interest as well as owning the global rights to recently developed lithium and mineral extraction technologies co-operatively developed by PurLucid and MGX. Learn more at www.mgxminerals.com
QualityStocksNewsBreaks provide a rapid summary of corporate news that catch the attention of QualityStocks. QualityStocksBreaks are designed to keep investors up to date on important and breaking news in the small-cap and micro-cap markets. Spanning all industries, including energy, entertainment, telecommunications, healthcare, retail and more, these news breaks deliver opportunities the investment community may have missed. Whether it is earnings results, mergers and acquisitions, or any other market-moving news, our news breaks keep you in the know. QualityStocks is committed to connecting subscribers with companies that have huge potential to succeed in the short and long-term future. It is part of our mission statement to help the investment community discover emerging companies that offer excellent growth potential.