Diversified MGX Minerals Inc (CSE:XMG) (OTCQB:MGXMF) has made major advances in recent weeks, notably in its ground-breaking waste-water treatment system rollout.
At the end of October, the group said the first system had been deployed by partner Purlucid to the oilsands industry in Alberta, notching up first revenue for MGX.
The technology, backed by a government grant, reduces costs and enhances the quality of extraction. It separates impurities from oil and gas wastewater and produces clean water.
Two more systems will be rolled out in the next few months and a larger system by the end of the first half, 2019.
MGX says it's the only company currently approved by regulators for this type of water treatment for SAGD (steam-assisted gravity drainage) operation for customers.
What is MGX?
The firm is basically focused on three divisions within various activities.
These are mining, water (including mineral extraction from brines, eg, lithium) and battery mass storage.
The mining side of the group's activity has thrown up a 'big surprise' recently, with a gold discovery at its Fran property in British Columbia - a property it started this year, not knowing for certain what it would do with it.
The highest-grade gold was hosted in a quartz-pyrite vein which averaged 21 grams per ton (g/t) gold over 2.2m, including 35.9 g/t gold across 0.76m and 26.70 g/t gold over 0.75 metres.
The group is now poised to restart drilling at the site in a bid to find more gold at greater depths.
President and CEO Jared Lazerson has pointed out that this is very early stage exploration and MGX is a long way from any potential sale of the project to a major.
The firm, however, will move to generate a 43-101 resource estimate for the property.
In other mining MGX news, it revealed late November that it was set to advance the Francisco Basin lithium project in Chile, where joint venture partner Chilean Lithium Salars (CLS) had mobilised a rig for drilling.
A five-hole program will target the Northern lagoon, where samples in May this year averaged 694mg/L (miligrams per litre) of lithium.
Energy mass storage
Last month, the group's energy storage subsidiary ZincNyx Energy Solutions Inc was renamed MGX Renewables Inc and it's making good progress - now entering the final phase of development towards production of its next-generation zinc-air mass storage system.
MGX’s zinc-air flow battery efficiently stores energy in the form of zinc particles and contains none of the traditional high-cost battery commodities such as lithium, vanadium, or cobalt.
In the latest update, MGX said all the components of the system have been designed, tooled and received with the exception of the fuel cell and regenerator plates.
Housings are expected to arrive this month.
Lazerson believes the market for the system could be huge. It is less expensive than the lithium-ion storage technology, and less volatile than using hydrogen.
The power is created by a chemical reaction.
"We've shown with the water purification we can commercialize and make money, and now with the battery mass storage and I think this one potentially could be bigger than it all," Lazerson told Proactive in a recent interview.