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Mosaic Minerals Options Amanda Project for Its Lithium and Gold Potential
MONTREAL, Aug. 17, 2023 (GLOBE NEWSWIRE) -- Mosaic Minerals Corporation (CSE: MOC) (“Mosaic” or “the Company”) is pleased to announce that an option agreement h
About this update from Mosaic Minerals Corp
[{"type":"text","content":" MONTREAL, Aug. 17, 2023 (GLOBE NEWSWIRE) -- Mosaic Minerals Corporation (CSE: MOC) (“Mosaic” or “the Company”) is pleased to announce that an option agreement has been entered into between Vanstar Mining Resources Inc and the Company regarding the Amanda project. Composed of 145 cells covering an area of 7,677 hectares, this project is located on Eeyou Istchee territory, James Bay, approximately 65 kilometers northeast of the Whabouchi lithium deposit (Nemaska). In addition to containing several gold showings identified historically by prospecting and drilling, the Amanda property contains numerous pegmatites identified on the surface containing various minerals associated with the possible presence of spodumene such as beryl, cesium, tantalum, and rubidium. The presence of accessory minerals such as muscovite, garnet, and tourmaline in the environment of these pegmatites is also described in various reports from the Quebec Ministry of Energy and Natural Resources (MERN). Following the completion of surface prospecting work by the MERN, they counted the presence of a minimum of 17 pegmatites on the Amanda property. Also, following the analysis of historical drilling logs carried out on the Amanda project, the Company identified the presence of other unidentified pegmatites, in sectors where there were none noted on the surface. A rock sample taken from one of the pegmatites more than 1 kilometer long identified on the surface by the MERN revealed a content of 31 ppm in Li, 17 ppm in Be, 34 ppm in Cs, 16 ppm in Ta as well as 1,000 ppm in Rb. In the western part of this pegmatite, drilling AC 2010-12 located about 50 meters from the western edge of the Amanda property intersected it and the presence of pegmatites and spodumene would have been noted there by the geologist in charge of the project. According to historical data, no analysis was done to verify the presence of lithium in most of the pegmatites visited by the MERN as well as in the boreholes. Located for the most part near iron formations, these holes had the objective of testing different surface showings for their gold potential. In addition to having intersected several significant gold values at surface and near surface, these holes intersected several pegmatites not listed by the MERN. With the addition of the Amanda project, the company now owns nearly 75,000...