MGX Minerals and Engineering Partner PurLucid Achieve 99.7% Lithium Recovery; Low Cost Polymeric Membrane Breakthrough
VANCOUVER, Aug. 29, 2018 - MGX Minerals Inc. (“MGX” or the “Company”) (CSE: XMG / OTCQB: MGXMF / FKT: 1MG) and engineering partner PurLucid Treatment Solutions (“PurLucid”) are pleased to report that continued research and development utilizing newly developed molecular sieve technology has consistently achieved >99% lithium recovery from complex global source brines. Continued development of polymeric membranes has also reduced the cost of the lithium and mineral extraction components of the systems by 90% when compared to originally formulated stainless steel or titanium membrane platforms required for these caustic brines.
The new molecular sieve technology has been tested and confirmed for use in the commercial-scale units, with recent batch scale testing showing 20x lithium concentration and low selectivity for other ions. Major improvements include better than 99% exclusion of sodium and potassium from the product stream. Two systems are currently ready for deployment in the Alberta Oil Sands and are undergoing upgrades to include the new technological improvements in parallel with ongoing site engineering and integration with SAGD operations.
Rapid Lithium Brine Extraction Technology
MGX has developed a rapid lithium extraction technology eliminating or greatly reducing the physical footprint and investment in large, multi-phase, lake sized, lined evaporation ponds, as well as enhancing the quality of extraction and recovery across a complex range of brines as compared with traditional solar evaporation. This technology is applicable to petrolithium (oil and gas wastewater), natural brine, and other brine sources such as lithium-rich mine and industrial plant wastewater. The technology was recently chosen as winner of the Base and Specialty Metals Industry Leadership Award at the 2018 S&P Global Platts Global Metals Awards, held in London in May (see press release dated May 18, 2018).
About PurLucid
PurLucid’s exclusively licensed and patented nanoflotation technology was designed specifically for oilfield environments. The technology separates impurities from oil and gas wastewater and produces clean water as a final product. This allows for the recycling or controlled release of oilfield wastewater and reduces or eliminates downhole and associated transportation costs. Water handling costs are one of the largest operating costs in the oilfield and oilsands operations today. Learn more at www.purlucid.com. MGX has the right to acquire up to a 100% interest in PurLucid through successive investments.
About MGX Minerals
MGX Minerals is a diversified Canadian resource company with interests in advanced material and energy assets throughout North America. Learn more 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 (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.
Contact Information
Jared Lazerson
President and CEO
Telephone: 1.604.681.7735
Web: www.mgxminerals.com
