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The company acquired a NI 43-101 Technical Report from 2008, and as the company has not done sufficient work to properly classify this historical estimate as a current mineral resource, these numbers cannot be relied upon. At the time, the report focused on the nickel content in the tailings, which was reported at 0.23%. Of special interest to Mag One, oxide contents of magnesia showed 38%, and silica showed 18%.
As the original issuer switched its focus from nickel to gold projects, the report was never made public.
To the best of its knowledge, Mag One believes that the tailings have not changed in size, quality or mineralization content.
Gillian Holcroft, Mag One's President, stated: "We are encouraged by the findings in the report and hope to demonstrate the resource similarity of both stockpiles of serpentinite tailings."
Mag One Products aims to be the diamond standard in the Magnesium market by concentrating on four initial projects at its processing/manufacturing plant sites in southern Quebec.
Assembly and sale of magnesium-based structural insulated sheathing panels for building construction.
Production of high-purity silicon dioxide (SiO2), magnesium oxide (MgO), magnesium hydroxide (Mg[OH]2).
Production of 99.9 pure magnesium (Mg) ingots.
Further commercialization work on its MagPower fuel cell/battery that supplies emergency power, light and recharging for disaster relief and other emergency situations on land and sea.
Key advantages that these 4 projects enjoy are Mag One's advanced technologies, a modular processing plant expansion concept, the company's easy, abundant access to tailings.
The shares are trading at $0.25, and with 34.4 million shares outstanding, the company is capitalized at $8.6 million.
For more information about MAG ONE, please visit the company's website www.MagOneProducts.com, contact Nelson Skalbania, Chairman & CEO, at 604-669-4771 or email [email protected]. For investor relations, email [email protected].
While on the company's site, please watch an interview of Nelson Skalbania by David Morgan, publisher of the Morgan Report.
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