MGX Minerals and Engineering Partner PurLucid Announce Rapid Lithium Extraction System Demonstration
31 May 2018 - 10:20PM
InvestorsHub NewsWire
MGX Minerals and Engineering Partner PurLucid
Announce Rapid Lithium Extraction System
Demonstration
Vancouver, BC -- May 31, 2018 --
InvestorsHub NewsWire -- MGX Minerals Inc.
(“MGX” or the
“Company”) (CSE: XMG / FKT: 1MG
/ OTCQB: MGXMF)
and engineering partner PurLucid Treatment Solutions
Inc. (“PurLucid”) are pleased to report that, prior to
deployment, demonstration of the NFLi-5 commercial-scale rapid
lithium extraction system, capable of processing 750 barrels per
day (120 cubic meters), is scheduled to take place immediately with
oil and gas companies, industrial customers, lithium brine owners
and international media scheduled to view the system. Demonstration
of the lithium and petrolithium extraction and water treatment
system will take place in the first half of June at the PurLucid
manufacturing facility in Calgary, Alberta.
In addition to the NFLi-5 system, MGX
and PurLucid have fabricated three customized wastewater treatment
systems unique to each client / partner's needs and all capable of
lithium, minerals, slop oil and heavy metals separation. The first
system, which is scheduled for deployment to an oil and gas
operation in Alberta, is an evaporator blowdown wastewater
treatment system (10 m3/hr) which will take highly
concentrated evaporator brine and treat it to a level suitable for
reinjection on site. The second system, which represents a
contract between a consortium of partners, is a high temperature
system that will be installed to treat produced water following
oil-water separation. The third system is a larger-scale version
(35 m3/h) of the first system intended for deployment to
treat one-through steam generator (“OTSG”) boiler
blowdown.
Petrolithium
Technology
PurLucid water treatment
technologies, which purify wastewater brine, have been integrated
with a newly developed lithium recovery process. Combined, this
Cleantech process reduces the capital cost of recovery compared to
traditional solar evaporation as it does not require the investment
in large, multi-phase, lake sized, lined evaporation ponds, greatly
reducing the physical footprint and enhancing the quality of
extraction and recovery across a complex range of brines previously
considered un-processable due to complexity or geographical
location outside of solar evaporation appropriate zones. This
includes oil and gas wastewater, natural brine, and other brine
sources such as lithium-rich mine and industrial plant wastewater.
MGX holds the global rights to the jointly developed lithium
extraction technology while PurLucid retains the rights to the
pre-treatment water purification and core technology.
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 earlier this month (see press release dated May 18, 2018). Hosted
by S&P Global Platts, a leading global energy, metals and
commodities information provider, the annual awards program honored
exemplary performance in fifteen categories spanning the entire
steel, metals and mining complex.
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 currently holds a 51%
interest in PurLucid and maintains the right to acquire 100%
through successive future 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.
Contact
Information
Jared Lazerson
President and CEO
Telephone: 1.604.681.7735
Web: 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.
MGX Minerals (CSE:XMG)
Historical Stock Chart
From Apr 2024 to May 2024
MGX Minerals (CSE:XMG)
Historical Stock Chart
From May 2023 to May 2024
Real-Time news about MGX Minerals Inc (Canadian Securities Exchange): 0 recent articles
More MGX Minerals Inc. News Articles