MGX Minerals Inc (CSE:XMG) (OTCPINK:MGXMF) has reported results from rock chip samples taken from six zones on its Tillicum Claims project in British Columbia.
The samples revealed up to 75 ounces per tonne silver at the Silver Queen deposit and 0.4 ounces per tonne gold from the Grizzly Deposit, the group said. A total of 13 samples were taken and assayed for minerals like gold, silver, copper, lead and zinc.
READ: MGX Minerals nears completion of LiDAR mapping and magnetometer survey at Heino gold deposit in British Columbia
In addition to the Grizzly and Silver Queen, other zones sampled included Arnie Flats, East Ridge, Jennie and Road Zones.
“The Grizzly, Silver Queen and Arnie Flats Zones qualify as extension and exploration targets for further drill testing where drilling is planned for Grizzly in 2021,” MGX told shareholders in a statement.
Mineralization at Grizzly closely resembles the high-grade gold Heino-Money & East Ridge zones, according to MGX. Several drill holes are planned to intersect extensions of the southern, higher elevation gold-bearing portions of the Grizzly zone.
MGX noted that the Jennie and Road Zones also have “good exploration potential,” and align as north extensions of the Heino-Money Zone.
Vancouver-based MGX invests in commodity and technology companies and projects focusing on battery and energy mass storage technology, extraction of minerals from fluids, and exploration for industrial minerals and precious metals.
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