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Mosaic Minerals Corp
Symbol MOC
Shares Issued 69,528,071
Close 2023-08-30 C$ 0.065
Market Cap C$ 4,519,325
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Mosaic Minerals begins prospecting work at Lithium SM

2023-08-30 13:14 ET - News Release

Mr. Jonathan Hamel reports


Mosaic Minerals Corp. has started prospecting work on the Lithium SM project after several weeks of delays caused by forest fires. Covering 10,864 hectares (194 cells) and located 40 kilometres north of the Quevillon mining sector, this project is easily accessible by forest and secondary roads linking Quevillon to Matagami.

The Lithium SM property, 20 kilometres long by approximately 10 kilometres high, is intersected in its center by an east-west fault as well as by a few faults trending east-northeast. In the southern part of the property, numerous lithium anomalies associated directly with pegmatites currently suggest a favourable horizon of more than five kilometres.

At the centre of the project, a volcanic band runs east to west along a high-intensity magnetic anomaly. Several electromagnetic conductors are twinned with this volcanic horizon and this magnetic anomaly. The showings composed of strategic minerals in copper, zinc, nickel and lithium seem to be associated with this corridor.

"We are very pleased to finally begin prospecting work on Lithium SM after several weeks of delay due to the forest fires. This property, easily accessible by road, has been explored very little in the past and contains interesting potential. Several lithium anomalies identified by the MERN (including one of 299 parts per million lithium) particularly attracts our attention. The bedrock unearthed by the various logging operations now outcrops in several places, which will allow better sampling and better prospecting," said Jonathan Hamel, president and chief executive officer of Mosaic.

James Bay projects

Following the reopening of access to the forest, the management of the company is currently studying the possibility of undertaking the prospecting campaigns previously cancelled due to the active forest fires throughout the summer. The targeted properties are Mirabelli SM (west of Allkem's James Bay lithium project), Maqua SM (near the Mia lithium project of Q2 Metals Corp.) and finally Amanda, recently optioned from Vanstar Mining Resources for its lithium and gold potential. The management of the company will provide an update shortly.

The technical content of this press release has been reviewed and approved by Gilles Laverdiere, PGeo, an independent consulting geologist and a qualified person as defined in NI 43-101.

About Mosaic Minerals Corp.

Mosaic Minerals is a Canadian mining exploration company listed on the Canadian Securities Exchange focusing on the exploration of critical minerals such as nickel and lithium in the province of Quebec.

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