MGX Minerals Inc has announced assays from its GC Lithium project in British Columbia.
Notably, the GC occurrence is characterized by subvertical pegmatite dykes 3-7 meters in width. The main dyke exhibits minor offsets by brittle-ductile structures as well as several narrow additional pegmatite dykes, the company said.
Mineralized pegmatite has been mapped with 5 rock chip samples analyzed in 2022 and 2 grab samples analyzed in 2023. The assays found up to 1.04% lithium, 0.1% cesium and 0.35% rubidium, the company said.
Geochemical analysis results of the GC pegmatite (ie. high in lithium and cesium) suggest it is an LCT type of pegmatite, the company said. There are phosphate minerals and phosphorous bearing rose quartz present in the GC pegmatite.
Going forward, MGX Minerals expects to conduct detailed geological mapping and systematic sampling to further delineate and characterize pegmatite bodies, the company said.
A comprehensive program of prospecting, bedrock mapping, rock/soil geochemical sampling and about 500 meters of core drilling is recommended for the property, according to a statement.
More information on the assay and the GC property can be found here.
Elsewhere, MGX said it sold its British Columbia Silicon Metal properties to Mt Wilson Silica Ventures Inc for $500,000, payable in installments, pursuant to a purchase and sale agreement dated March 1, 2023.
The company also sold its REN Tantalum-Niobium project to North American Carbonatite Exploration Pty Ltd for A$140,000 minus outstanding property payments passed due, pursuant to a purchase and sale agreement dated March 9, 2023.
MGX used the majority of proceeds from these sales to pay down accounts, the company said.
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