Mosaic Minerals Begins Drilling on The Gaboury Project

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[{"type":"text","content":" MONTREAL, May 04, 2022 (GLOBE NEWSWIRE) -- Mosaic Minerals Corporation (CSE: MOC) (“Mosaic” or the “Company”) announces that it has started drilling on the Gaboury project, located in Témiscamingue, Quebec. This first phase of 1,200 m will be concentrated on the new claims acquired in the western part of the property (see press release of March 22, 2022). During 2022, the company plans to complete twenty holes for approximately 7,000 m along a major magnetic anomaly approximately 9 km long associated with the three nickel showings discovered on this project. During the last drilling campaign carried out in 2021, it discovered the Pike Nickel West zone (121.5m @ 0.32% Ni - See press release of January 5, 2022) located approximately 1.8 km west of the original Pike Nickel showing (70.5 m @ 0.25% Ni) as well as to trace the Pike Nickel East showing located approximately 1.4 km from the same showing. This drilling program also found a new gold showing located south of the Pike Nickel East showing. “We are enthusiastic about the possibilities of the Gaboury project. The current main objective is to demonstrate the continuity of the nickel showings on the new claims acquired in the western part, all forming a potential nickel corridor of approximately 9km along the property” underlined Mr. Jonathan Hamel, President, and Chief Executive Officer of the Company. On the other hand, the management of the Company plans to carry out in the coming months an initial geological and prospecting survey on the Lichen project, which is made up of 178 mining cells with an area of 9,968 hectares, located in the Chapais-Chibougamau area. This project has already been the subject of a helicopter-borne magnetic geophysical survey during 2021 (58.68 km), which has made it possible to define several geological exploration targets. The Lichen project is located in an environment favorable to the presence of critical minerals such as nickel, cobalt, copper and elements of the REE group (Rare Earths). Different intrusive (syenite, tonalite etc.), gabbro and andesitic basalt constitute the geological essentials of this project. Although it is accessible by many forest roads, this project has never been the subject of intensive exploration work. Gaboury Project The Gaboury project, comprising 114 claims covering an area of ​​approximately 6,064 hectares, is a...

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