A large deposit of olivine gabbro discovered in Riggs Twp. near Algoma, Ont., may contain commercially significant amounts of magnesium. Intending to develop the gabbro stock, Quote Resources (VSE) has proposed a 50/50 joint venture agreement with Watson Lake Mines (ASE) on the 12-claim property. Results from four assayed samples of the gabbro average 16.7% magnesium (27.7% magnesium oxide). It remains to be seen whether extraction of the magnesium from silicates in the olivine will prove to be economically feasible. According to Quote, the gabbro presents excellent faces for quarrying and is situated near a railway and power lines.
Magnesium is used in the production of alloys, as a reducing agent and as a reactant. In compound form (magnesium oxide), it is often added to cement, rubber and insulating material.
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