The Crisafy Property is made up of 27 mineral claims covering 1,515 hectares located in the very prolific Obatogamauneo archeanvolcanic formation. The formation iscomposed mainly of basalt and andesitic basalt,and hosts Iamgold’s expanding Nelligan and Monster Lake gold depositsand also Northern Superior’s recent Lac Surprise discoveries, a few kilometers to the north(see location map).
The Crisafy Properties acquisition expands up on Mosaic’s original Opawica Gold Project located in the eastern extension and along strike of the significant gold discoveries at Lac Surprise and Nelligan.
Maurice Giroux CEO declare: “We are very pleased to enlarge Mosaic’s foot print in the area of Quebec’s most prolific gold discoveries. Being personally, in a certain way, the instigator of this exploration explosion as CEO of Stellar AfricaGold Inc., when in2011 Stellar discovered the Monster Lake gold deposit which was later sold to Tomagold and in turn optioned by Iamgold. Based on my history Mosaic hasa close and personal knowledge of the potential of this area, and this knowledge can only be very beneficial to Mosaic.”
The purchase consideration forthe Crisafy Property is $5,000 and the issuance of 300,000 common shares at the closing of the Purchase Agreement. Two (2) additional payments of $5,000 each will be made at three months and 12 months after the closing date. The Vendor will retaina 1.5% Net Smelter Return royalty which may be purchased by Mosaic for the sum of Five Hundred Thousand ($500,000) dollarsat any time.This transaction is arm’s length.