VANCOUVER, May 16, 2019 /CNW/ - MGX Minerals Inc. ("MGX" or the "Company") (CSE: XMG / FKT: 1MG / OTCQB: MGXMF) reported today that engineering partner PurLucid Treatment Solutions ("PurLucid") expects to complete installation of a second wastewater treatment system this week, with full commissioning of the system on track to be completed by the target date of June 7, 2019.
The system has been deployed to an oil sands facility in Alberta and will treat a combination of wastewaters typical for steam assisted gravity drainage ("SAGD") facilities to levels suitable for reuse or low-cost disposal. The oilsands operator has agreed to pay a fixed processing fee and will benefit from significant cost savings while also reducing greenhouse gas emissions.
MGX and PurLucid's technology provides superior treatment outcomes when compared to conventional technology because it can treat wastewater brines without having to cool water first. This results in significantly less energy use for a SAGD facility when managing produced water and also eliminates the major operational challenge of a heat exchanger fouling.
Rapid Lithium Brine Extraction Technology
MGX and PurLucid developed a rapid lithium extraction technology eliminating or greatly reducing the physical footprint and investment in large, multi-phase, lake sized evaporation ponds, as well as enhancing the quality of extraction and recovery across a complex range of brines as compared with traditional solar evaporation. This technology is applicable to petrolithium (oil and gas wastewater), natural brine and other brine sources such as lithium-rich mine and industrial plant wastewater.
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 has the right to acquire up to a 100% interest in PurLucid through successive investments.
About MGX Minerals
MGX Minerals is a diversified Canadian resource and technology company with interests in global advanced material, energy and water assets. Learn more at 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.
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.
SOURCE MGX Minerals Inc.
For further information: Jared Lazerson, President and CEO, Telephone: 1.604.681.7735, Web: www.mgxminerals.com