MGX Minerals Inc (CSE:XMG) (OTCMKTS:MGXMF) reported initial assays taken from the Heino-Money deposit in British Columbia on Monday, revealing samples with more than 1,000 grams per ton (g/t) of silver.
Six samples between 0.5 kilograms (kg) and 1 kg were taken at 2030 Portal of the Heino-Money pit zone during a visit from SRK Consulting on July 8, the company said. Sample analysis revealed up to 1090 g/t silver, 9.1% lead and 12.6% zinc
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Gold fire assays have been requested and are expected at the end of the week, MGX added.
The Heino-Money project has had 100 surface holes drilled totalling 7,060 meters and 9 underground holes totaling 177 meters, according to the SRK report.
Heino-Money was active between 1981 and 1993 and produced around 5,800 tons of gold and silver ore.
Shares of MGX rose 25% on Monday afternoon in Canada at around C$0.08.
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