MONTREAL, May 23, 2023 — Mosaic Minerals Corporation (CSE: MOC) (“Mosaic” or “The Company”) is pleased to announce that it has counted the presence of 52 pegmatites favorable to the presence of lithium on its Mirabelli SM project, located less than 20 KM south of the municipality of Eastmain, in Jamésie.
Following the compilation of an exploration program orchestrated by the Ministry of Energy and Natural Resources (MERN) in 2001, the company’s technical team identified the presence of 52 unanalyzed pegmatites on this project. In addition, we note the presence of several indicator minerals favorable to the presence of spodumene such as muscovite, tourmaline, beryl, and garnet.
The various outcrops visited and described by the MERN in 2001 were mainly composed of tonalite, granodiorite, garnet, and sillimanite paragneiss with a proportion of up to 50% pegmatite. The following map will allow the reader to locate the different pegmatites on Mirabelli SM.
The management of the company also noticed that a large number of pegmatites follows a pegmatitic corridor of NE-SW direction of about 20 KM which corridor seems associated with a major fault located at the contact of a paragneiss and a tonalitic intrusive. During the exploration and sampling work carried out in collaboration with ALS Goldspot Discoveries, this corridor will be treated as a priority, as well as another sector located east of the tonalitic intrusive where several pegmatites have also been listed by the MERN.
“This compilation work made it possible to target a set of pegmatites to be sampled during the summer period. This looks promising for the future. Also, many other outcrops that have not been visited in past years may offer other favorable targets. We can’t wait to begin our exploration campaign” underlined Mr. Jonathan Hamel, President, and Chief Executive Officer of the Company.
The company also acquired by map staking 13 new mining cells in the eastern part of its Mirabelli SM project, which now includes 346 claims for an area of approximately 18,340 hectares.
A remote sensing study is also underway on multispectral satellite data to identify and characterize other pegmatite outcrops likely to contain spodumene mineralization. The results obtained will then be integrated into the final target definition process in order to prioritize the sectors to be investigated for the field prospecting campaign planned for the summer of 2023 on the Maqua SM, Pluton SM, Mirabelli SM, Lithium SM and Lichen.
The Lithium SM, Lichen, Maqua SM, Pluton SM and Dalmas SM projects will also be visited during the summer period. Exploration work on Lithium SM and Lichen will begin according to the company’s schedule next June and then move on to the projects located in James Bay in July.
The technical content of this press release has been reviewed and approved by Mr. Gilles Laverdière, P.Geo., an independent consulting geologist and a Qualified Person as defined in NI 43-101.
About Mosaic Minerals Corporation
Mosaic Minerals Corp. is a Canadian mining exploration company listed on the Canadian Securities Exchange (CSE: MOC) focusing on the exploration of minerals such as Nickel and Lithium in the province of Quebec.
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