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MGX Minerals poised for drilling restart at Fran gold project


Date: Dec 6, 2018

Initial drilling this winter will see a twin vertical hole sunk to confirm and test below a historic hole from 2002 in the Hiiltop zone, said MGX.

MGX Minerals Inc (CSE:XMG) (FKT:1MG) (OTCQB:MGXMF) told investors that drilling will restart soon at the Fran gold project in British Columbia.

Initial drilling this winter will see a twin vertical hole sunk to confirm and test below a historic hole from 2002 in the Hilltop zone.

This hole assayed 13 meters of 3.76 g/t (grams per ton) gold from between 153m and 166 m, including 5.10 meters of 12.89 g/t of the yellow metal and 18.70 g/t gold over 1 meter.

Other historical holes included an intercept of 2.10m at 15.90 ppm (parts per million) gold.

Earlier this month, MGX reported Fall drilling results, which showed one hole returning a broad intercept from 227 to 241 metres of gold mineralization at depth in the Bullion Alley Gold Zone.

This confirmed the extension of gold mineralization in veins from near surface to depth

The highest-grade gold was contained within 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 Fran property encompasses 10,227 hectares and lies 30km southwest of the Mount Milligan Gold-Copper Mine and 19km by logging road from the Mount Milligan western access road.

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