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Mosaic Minerals Acquires Lithium SM Project; 194 Cells With Surface Area of 10,864 Hectares
MONTREAL, Nov. 17, 2022 (GLOBE NEWSWIRE) -- Mosaic Minerals Corporation (CSE: MOC) (“Mosaic” or “The Company”) announces the acquisition by map staking of 194 m
About this update from Mosaic Minerals Corp
[{"type":"text","content":" MONTREAL, Nov. 17, 2022 (GLOBE NEWSWIRE) -- Mosaic Minerals Corporation (CSE: MOC) (“Mosaic” or “The Company”) announces the acquisition by map staking of 194 mining cells with an area of approximately 10,864 hectares located approximately 40 kilometers north of Lebel-sur-Quévillon, in Jamésie (Québec). Named Lithium SM, this project was staked following the analysis of the geochemical database from the Quebec Ministry of Energy and Natural Resources (MERN). According to these data, this project accessible year-round by a forest road linking Quévillon to Matagami would contain several significant lithium values associated with the presence of pegmatites as well as several other strategic index values containing in whole or in part lithium, copper, nickel and zinc. “We had been looking for a project like this for several months. We wanted to have a lot of work space in an area with good potential for strategic minerals. Ease of access, very little prospected in past years, located near an urban environment offering all mining facilities, presence of several lithium anomalies located in a potential pegmatite corridor more than 5 kilometers long as well as several showings of strategic minerals revealing the presence of nickel, copper, zinc, and lithium associated with a corridor of high magnetic intensity more than 13 km long coupled with favorable geology, this is what the Lithium SM property offers us. This project joins Gaboury and 113 Nord to form a comprehensive portfolio of actively developed properties in the strategic minerals sector. We are very pleased to quickly initiate the development of this project,” said Jonathan Hamel, President, and CEO of Mosaic. The Lithium SM property, 20 kilometers long by approximately 10 kilometers high, is intersected in its center by a EW fault as well as by a few faults trending ENE. In the southern part of the property, numerous lithium anomalies associated directly with pegmatites currently suggest a favorable horizon of more than 5 kilometers. At the center of the project, a volcanic band runs east to west along a high-intensity magnetic anomaly. Several electromagnetic conductors (inputs) are twinned with this volcanic horizon and this magnetic anomaly. The showings composed of strategic minerals in Cu, Zn, Ni and Li seem to be associated with this corridor. Very little historical w...