MGX Minerals has acquired the Lisbon Valley Petro Lithium Project in Paradox Basin, Utah, US.
This project includes 888 placer mineral claims inclusive of lithium brine mineral rights covering most of the Lisbon Valley oil and gas field, where historic lithium brine content has been reported as high as 730 parts per million lithium.
MGX chairman Marc Bruner said: "This recent acquisition in the Paradox Basin is strategic for MGX. These claims cover the majority of the Lisbon Oilfield placing MGX as a major player in oilfield lithium brine in the United States.”
The Lisbon Valley oil and gas field is located around 40 miles south-east of Moab, Utah, in the salt anticline belt on the southwest edge of the Paradox Basin in San Juan County.
The oilfield was first discovered by Pure Oil Company in 1960.
As earlier announced, MGX and engineering partner PurLucid Treatment Solutions have extracted lithium from oil sands wastewater.
MGX and PurLucid are now preparing for deployment of the pilot plant shortly with commercial scale deployment expected during the second half of 2017.
This pilot plant unit represents completely integrated technology that uses MGX’s patent pending lithium extraction process, which potentially reduces recovery times of lithium and other valuable minerals from 18 months to one day when compared with conventional lithium extraction. The technology combines this process with PurLucid’s patented water purification technology, which removes particulate and dissolved material including dissolved and emulsified oil, colloids and heavy metals.
Results from pilot plant optimisation testing will be released shortly as part of completion of the pilot plant.
Lithium carbonate has been extracted from oil well production wastewater at the company's flagship Sturgeon Lake property.
Results are currently under technical review and will be released shortly.
Image: Lithium carbonate produced from Sturgeon Lake Oilfield . Photo: courtesy of MGX Minerals Inc.