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MGX Minerals rises after releasing Koot drilling results

A total of 212 split core samples (at three-metre sample intervals) were analyzed
Solar panels
One of the primary uses of silicon metal is in solar panels

MGX Minerals Inc (CNSX:XMG) has been encouraged by the relatively high percentage of silicon dioxide in drilling samples from its Koot silicon project.

Nine drill holes were completed across 50-metre spacings to further expand known mineralization within the north and south zones.

READ MGX Minerals completes four diamond drill holes at Koot silicon project

Five drill holes were located in the north zone and were collared in quartzite and ended in quartzite. Four holes collared in the south zone started in quartzite and two out of four holes ended in quartzite, MGX said.

All but one of the holes had a silicon dioxide content in excess of 98%, with two holes clocking in at 99%.

The relatively high percentage of total SiO2 (silicon dioxide) content compares favourably with other silica deposits in nearby Golden, British Columbia, MGX said.

Impurity compounds of interest such as Al2O3 (aluminum oxide) and Fe2O3 (iron oxide), approach specifications required for silicon metal, it added.

Lower loss on ignition (LOI) values – which ranged from 0.26% to 0.49% - correlate directly with higher SiO2 values.

MGX operates three silicon projects in south-eastern British Columbia: Koot, Wonah and Gibraltar.

Shares in MGX were up 2.4% at C$0.84.

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