Mosaic Begins Drilling on The Gaboury Project
Mosaic Minerals Corporation (CSE: MOC) (“Mosaic” or the “Company”) announces that it has started drilling on the Gaboury project, located in Temiscamingue, 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 accessible year-round by a provincial road network and a series of forest roads. In 2010-2011, Fieldex Explorations (now Fokus Mining Corp.) drilled the Gaboury property to test a Max-Min electromagnetic anomaly and intersected significant nickel grades over good widths. The mineralization intersected is located in a wide band of mafic to ultramafic rocks. Grades of 0.20% Ni were intersected over thicknesses varying from 81m to 88m in three holes forming the original Pike Nickel showing.
The Pyke Copper showing is located a little north of the Pike Nickel showing. Semi-massive mineralization consists of chalcopyrite, pyrite and pyrrhotite in a matrix of calcite. Values of up to 12.30% Cu were traced there in trenches in 1974. There are also some gold showings, notably the Laverlochere and Brisebois showings, which revealed gold grades of up to 48.68 g/t Au in quartz veins ranging from 0.3 to 5 m thick. another mineralized shear zone between 2 and 25 m thick yielded gold grades of up to 8.8 g/t Au. Copper and silver findings have also been reported in historical work near these same showings. These historical data come from GM 46167, GM 58164 and GM 04753 and are available on the SIGEOM and MERN sites.
Following an agreement with Fokus Mining, Mosaic has the right to acquire a 60% interest in the Gaboury project in return for the issuance of 3M shares in favor of Fokus Mining and to complete for $1M in work during the 36 months following the anniversary date. Mosaic will also be able to obtain another 20% in return for an investment of $500,000 in works and the delivery of an evaluation of the 43-101 resource by June 2029. Mosaic is the operator of the project.
The technical content of this press release has been reviewed and approved by Mr. Gilles Laverdiere, 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 strategic minerals in the territory of the province of Quebec.
Source :
M. Jonathan Hamel
President & CEO
jhamel@mosaicminerals.ca
514-317-7956
- Published in Mosaic Minerals
Mosaic Minerals Adds Claims on Gaboury
Mosaic Minerals Corporation (CSE: MOC) (“Mosaic” or the “the Corporation”) adds 19 claims covering an area of 791 hectares on the western edge of its Gaboury property, located in Quebec’s Temiscamingue region. This project is now composed of 114 claims for a total area of 6,064 hectares. Thirteen of these new claims were acquired by map staking while the other six were acquired from an independent prospector, in return for a cash payment of $10,000.
No royalty is subject to these new claims.
The Gaboury property contains several nickel, copper, and gold showings. However, the management of the Company is concentrating its activities on the search for nickel along a magnetic anomaly crossing it for nearly 9 km, in its southern part. The presence of a mineralized ultramafic intrusive explains that magnetic anomaly.
Pike Nickel
The Pike Nickel showing, discovered by drilling in 2010, was drilled again in 2021 to test its potential for lateral and depth extension. That program made it possible to retrace the Pike Nickel West and Pike Nickel East extensions located on each side at 1.8 km and 1.4 km from the original showing as well as to intersect it to a vertical depth of nearly 400 meters. These showings remain open both laterally and at depth.
The southern part of the property now contains three significant nickel showings over nearly 3.4 km along a magnetic anomaly of about 9 km. Depending on its financial capacity, the company’s management hopes to test the entire magnetic anomaly by drilling during 2022. A first phase of drilling concentrated in the western part of the magnetic anomaly is planned at the end of the spring thaw period.
“The current geopolitical situation with Russia, which is one of the main producers of refined nickel, demonstrates the importance of projects such as Gaboury located in Quebec. While we want a quick resolution to this terrible conflict, upward pressure on the price of nickel could extend beyond it and potentially affect the value of projects located in stable and predictable mining jurisdictions like Quebec.” Said Jonathan Hamel, President and CEO of the Corporation.
A grade of up to 0.32% Ni over 121.5m along the core including 0.40% Ni over 15m had been intersected in hole GA-21-07 and that hole GA-21-01 had retraced the nickel zone up to 564 meters along core revealing 122m grading 0.21% Ni including 70.9m grading 0.25% Ni (see press release dated January 5, 2022).
In addition, the firm Novatem recently completed a helicopter-borne magnetic survey on the new claims. This will allow the company to define the full drilling program for the current year.
An additional drilling permit application has been filed with the MERN.
Gaboury Project
The Gaboury project, consisting of 114 mining claims totaling 6,064 hectares, is located approximately 150 km southwest of the Rouyn-Noranda mining camp. It is easily accessible year-round by paved and gravel roads. The former Loraine Mine, which produced 600,000 tons of ore grading 0.47% Ni and 1.08% Cu, is located about ten km east of the property (Source: SIGEOM GM 43679). The Loraine deposit consisted of Ni-Cu dominant magmatic mineralization associated with mafic and ultramafic intrusions.
Mosaic has the option to acquire a 60% interest in this project by June 2024 in return for 3M shares and $1M in exploration work. Subsequently, Mosaic may acquire another portion of 20% interest for a total of 80% in consideration of $2.5M in exploration work before June 30, 2028, and the delivery of a first resource estimate. If Mosaic decides not to exercise the second part of its option, the partners will then form a joint venture and Fokus will manage the exploration work.
Nickel Showings
In 2010-2011, Fieldex Exploration now Fokus Mining Corporation drilled the Gaboury property, to test a Maxmin electromagnetic anomaly, which intersected significant nickel grades. The semi-massive sulphide mineralization intersected is hosted in a calcite matrix within fractures in a silicified gabbro. The best results are:
Hole* | From (m) | To (m) | Length (m) | Ni (%) |
GA-10-01 | 36,80 | 124,50 | 87,70 | 0,20 |
including | 36,80 | 46,45 | 9,65 | 0,28 |
including | 72,82 | 83,50 | 10,68 | 0,28 |
GA-10-02 | 117,00 | 132,00 | 15,00 | 0,20 |
including | 151,29 | 168,00 | 16,71 | 0,20 |
GA-11-06 | 190,50 | 274,50 | 84,00 | 0,20 |
GA-11-08 | 313,50 | 394,90 | 81,40 | 0,20 |
including | 364,50 | 379,50 | 15,00 | 0,26 |
*Source: SIGEOM GM 66699
Copper Showings
Also present on the Gaboury property is the Pyke copper showing which is located northeast of the nickel showing. Reported Cu results range from 0.99% to 12.30% Cu in surficial chalcopyrite veins at contact with sheared andesitic volcanic rock. Semi-massive mineralization consists of chalcopyrite, pyrite and pyrrhotite in a matrix of calcite. Limited drilling of some electromagnetic conductors did not yield significant copper results. Mosaic management will reassess this area shortly to develop a better understanding of this surface copper showing.
Gold Showings
Within the Gaboury property, the Laverlochere and Brisebois gold occurrences have returned historical gold grades of up to 445 g/t Au in quartz veins ranging from 0.3 to 5 m thick, while another mineralized shear zone ranging in thickness from 2 m to 25 m gave gold grades of up to 8.8 g/t Au. Gold grades of 27.97 g/t Au and 9.51 g/t Au over 0.20 m were intersected in hole G-18 on the Brisebois showing, while selected samples returned grades of 0.71 g/t Au and 1.23 g/t Au. Copper results have also been reported in historical work near these showings.
A new gold showing was also traced in hole GA-21-06, revealing a grade of 2.54 g/t Au over 1.65 m including 4.62 g/t Au over 0.8 m. This showing is located south of the nickel zone.
The technical content of this press release has been reviewed and approved by Mr. Gilles Laverdiere, 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 mineral exploration company listed on the Canadian Securities Exchange (CSE: MOC) now focusing on the exploration for future strategic Copper, Nickel and Zinc deposits in priority on the Quebec Province territory which have a long and successful history of base metal production principally in the Rouyn-Noranda, Matagami, Val-d’Or and Chibougamau mining camps.
Source :
M. Jonathan Hamel
President & CEO
jhamel@mosaicminerals.ca
514-317-7956
- Published in Mosaic Minerals, News Home
Mosaic Minerals Intersects 0.32% Nickel Over 121.50 Meters on Gaboury
Mosaic Minerals Corporation (CSE: MOC) (“Mosaic” or “the Corporation”) announces that it intersected in hole GA-21-07 a 165 m zone showing a grade of 0.26% Ni including 121.5 m at a grade of 0.32% Ni and 0.40% Ni over 15 meters on the Gaboury project, in Témiscamingue, Quebec.
Hole GA-21-07, located in the Pike West area, is located approximately 1.8 km west of the original Pike Nickel area. Hole GA-21-08 located 300m to the west revealed three sections of 13.5 m, 16.8 m and 18.2 m grading respectively 0.31% Ni, 0.26% Ni and 0.23% Ni in a nickel-bearing envelope 131.8 m at a grade of 0.17% Ni.
As for hole GA-21-01, carried out under historic hole GA-11-08 to verify its potential at depth, revealed a grade of 0.21% Ni over 122.9 m including 70,9 m at a grade of 0.25% Ni. These results confirm a potential for in-depth extension. Hole GA-11-08, completed in 2011, returned 0.20% Ni over 81 m.
Hole GA-21-06, located in the Pike East area approximately 1.4 km east of the historic Pike Center area, also reveals an anomalous nickel presence over more than 50 meters. As this hole started directly in the nickel anomaly, this result may not correspond to the actual thickness and grade of the zone there. Further drilling will be required to retest this area.
This same hole, however, intersected a previously unknown gold zone revealing a grade of 2.54 g / t Au over 1.65 m including 4.62 g / t Au over 0.8 meter. The gold occurs in a strongly magnetic, highly silicified iron formation with the presence of chalcopyrite. The company also plans to verify the gold potential of the eastern sector.
The potential nickel corridor is now more than 3.2 km along the magnetic anomaly.
“These first results bring a whole new dimension to Gaboury’s potential. Of course, more drilling will have to be undertaken to test its continuity, which seems to be directly related to the magnetic anomaly crossing the Gaboury property for more than 7 km. The presence of gold associated with this same magnetic anomaly is also a nice surprise,” said Jonathan Hamel, CEO of Mosaic.
The Corporation plans to start a new drilling program on Gaboury soon. Depending on its financing capacity, the company is considering a program comprising around fifteen holes located throughout the magnetic anomaly for a program of approximately 5,000 meters.
Several showings of nickel, copper and PGE are in the environment of this magnetic anomaly of more than 25 kilometers long. In addition, during Fall 2021, Mosaic acquired by staking 13 new claims located in the western part of the property.
HOLES | FROM (m) | TO (m) | WIDTH (m) | NI % | CO ppm | AU (g/t) |
GA-21-01 | 441,7 | 564,6 | 122,9 | 0,21 | 72 | |
Including | 441,7 | 512,6 | 70,9 | 0,25 | 83 | |
GA-21-06 | 13 | 66 | 53 | 0,10 | 46 | |
And | 229,4 | 232 | 1,65 | 2,54 | ||
Including | 231,2 | 232 | 0,8 | 4,62 | ||
GA-21-07 | 124,50 | 289,5 | 165 | 0,26 | 73 | |
Including | 168 | 289,5 | 121,5 | 0,32 | 91 | |
Including | 168 | 183 | 15 | 0,4 | 104 | |
GA-21-08 | 123 | 285 | 162 | 0,14 | 62 | |
Including | 153,2 | 285 | 131,8 | 0,17 | 74 | |
Including | 177 | 195,2 | 18,2 | 0,23 | 94 | |
Including | 233,5 | 250,3 | 16,8 | 0,26 | 97 | |
Including | 270 | 283,5 | 13,5 | 0,31 | 78 |
Gaboury Project
The Gaboury project comprises 82 claims covering an area of approximately 4,282 hectares and is accessible year-round by a provincial road network and by a set of forest roads.
In 2010-2011, Fieldex Exploration now Fokus Mining Corp. drilled the Gaboury property to test a Max-min electromagnetic anomaly which intersected significant nickel grades. The intersected semi-massive mineralization is in a calcite matrix within a fracture and a silicified gabbro.
The Pyke copper showing, located northeast of the Pike Nickel showing, is also present on the Gaboury property. The semi-massive mineralization consists of chalcopyrite, pyrite and pyrrhotite in a calcite matrix.
There are also some gold showings including the Laverlochère and Brisebois showings which revealed gold grades of up to 445 g / t Au in quartz veins ranging from 0.3 to 5 m thick while another mineralized shear zone with a thickness of between 2 and 25 m gave gold grades of up to 8.8 g / t Au. Gold grades of 27.97 g / t Au and 9.51 g / t Au over 0.20 m were also intersected in hole G-18 located on the Brisebois showing while surface samples revealed grades of 0.71 g / t Au and 1.23 g / t Au. Copper results have also been reported in historical work near these same showings. These historical data come from GM 46167, GM 58164 and GM 04753 and are available on the SIGEOM and MERN site.
Following an agreement with Fokus Mining, Mosaic has the right to acquire a 60% interest in the Gaboury project in consideration for the issue of 3M shares in favor of Fokus Mining and to complete for $ 1M in exploration work 36 months following the anniversary date. Mosaic will also be able to obtain a further 20% in return for a $ 500,000 investment in works and delivery of a 43-101 resource assessment by June 2029. Mosaic is the operator of the project.
This press release has been read and approved by Jeannot Théberge, independent consultant geologist certified under NI 43-101.
About Mosaic Minerals Corporation
Mosaic Minerals Corp. is a Canadian mineral exploration company listed on the Canadian Securities Exchange (CSE: MOC) now focusing on the exploration for future strategic Copper, Nickel and Zinc deposits in priority on the Quebec Province territory which have a long and successful history of base metal production principally in the Rouyn-Noranda, Matagami, Val-d’Or and Chibougamau mining camps.
On Behalf of the Board
M. Jonathan Hamel
President & CEO
jhamel@mosaicminerals.ca
- Published in Mosaic Minerals, News Home
Mosaic Minerals Announces Closing of Its Offering
Mosaic Minerals Corporation (CSE: MOC) (“Mosaic” or the “Corporation”) is pleased to announce that it has closed its private placement (the “Offering“), pursuant to which it issued 750,000 flow-through common shares (the “FT Shares”) and 1,050,000 common shares units (the “Units”) of the Corporation at a price of $0.16 per FT Share and $0.12 per Unit for aggregate gross proceeds of $246,000.
Each Unit consist of one common share, and one-half of one common share purchase warrant (each whole, a “Warrant”) with each Warrant entitling the holder to purchase one additional common share in the capital of the Corporation for a period of 12 months from the date of closing of the Private Placement, at a purchase price of $0.25 per common share.
In connection with the Offering, the Corporation has paid a finder’s fee of 7% in cash and issued 52,500 finder’s warrants (“Finder’s Warrants”). Each Finder’s Warrant is exercisable to acquire one additional common share at a price of $0.25 per Warrant for a period of twelve months from issuance.
All securities issued in respect of the Offering will be subject to a hold period of four (4) months and a day ending April 22, 2022. The Offering is subject to final approval of the Canadian Securities Exchange (CSE).
The company would like to thank its shareholders for their confidence in the past year and wish them a happy new year.
About Mosaic Minerals Corporation
Mosaic Minerals Corp. is a Canadian mineral exploration company listed on the Canadian Securities Exchange (CSE: MOC) now focusing on the exploration for future strategic Copper, Nickel and Zinc deposits in priority on the Quebec Province territory which have a long and successful history of base metal production mainly in the Rouyn-Noranda, Matagami, Val-d’Or and Chibougamau mining camps.
On Behalf of the Board
M. Jonathan Hamel
President & CEO
- Published in Mosaic Minerals, News Home
Mosaic Minerals Intersects 70 Meters Anomalous Nickel Zone on Gaboury Project
Mosaic Minerals Corporation (CSE: MOC) (“Mosaic” or the “Corporation”) announces that it intersected with hole GA-21-06, located 1.4 km east of the Pike Nickel showing, an anomalous nickel zone over 70 meters along the hole. This new showing, called Pike Nickel East, is associated with a large, high-intensity magnetic anomaly traced by an aerial magnetic survey during the summer of 2021.
In addition, hole GA-21-01 installed on the Pike Nickel showing also intersected the nickeliferous zone sought to a thickness of nearly 80 meters along the hole. This drilling was used to verify the continuity at depth of the nickel mineralization intersected in hole GA-11-06.
The portable XRF sampler was able to trace these anomalous nickel areas. Cobalt, zinc, and chromium anomalies were also identified in some places. The company will publish the results as soon as they are complete and available. Although XRF results are currently considered less definitive than standard analytical techniques, they are nonetheless indicative of grade and are generally considered qualitative rather than quantitative. The use of the XRF sampler helps to better target the areas to be analyzed which saves a lot of preparation time and helps to reduce the costs.
According to this initial information, the nickel-bearing corridor intersected by boreholes GA-21-01, GA-21-06, GA-21-07 and GA-21-08 would now have a potential length of approximately 3.4 km. Made up of the Pike Nickel West, Pike Nickel and Pike Nickel East showings, this mineralized corridor remains open in all directions.
Based on these initial results, which are considered encouraging, the management of the company is now studying the launch of a second drilling program to test the magnetic anomaly crossing right through the entire southern part of the property for more than 7 km.
“We are very pleased to see that the potential of the Pike Nickel Index appears to continue in its eastern and western extensions as well. Our hypothesis based on the association with a high intensity magnetic anomaly crossing the south of the property for more than 7 km thus seems to be present. Now, it will be necessary to see if this association will remain present in the extensions. This will have to be verified soon” said Jonathan Hamel, CEO of Mosaic.
Gaboury Project
The Gaboury project comprises 82 claims covering an area of approximately 4,282 hectares and is accessible year-round by a provincial road network and by a set of forest roads.
In 2010-2011, Fieldex Exploration now Fokus Mining Corp. drilled the Gaboury property to test a Max-min electromagnetic anomaly which intersected significant nickel grades. The intersected semi-massive mineralization is in a calcite matrix within a fracture and a silicified gabbro.
The Pyke copper showing, located northeast of the Pike Nickel showing, is also present on the Gaboury property. The semi-massive mineralization consists of chalcopyrite, pyrite and pyrrhotite in a calcite matrix.
There are also some gold showings including the Laverlochère and Brisebois showings which revealed gold grades of up to 445 g / t Au in quartz veins ranging from 0.3 to 5 m thick while another mineralized shear zone with a thickness of between 2 and 25 m gave gold grades of up to 8.8 g / t Au. Gold grades of 27.97 g / t Au and 9.51 g / t Au over 0.20 m were also intersected in hole G-18 located on the Brisebois showing while surface samples revealed grades of 0.71 g / t Au and 1.23 g / t Au. Copper results have also been reported in historical work near these same showings. These historical data come from GM 46167, GM 58164 and GM 04753 and are available on the SIGEOM and MERN site.
Following an agreement with Fokus Mining, Mosaic has the right to acquire a 60% interest in the Gaboury project in consideration for the issue of 3M shares in favor of Fokus Mining and to complete for $ 1M in exploration work 36 months following the anniversary date. Mosaic will also be able to obtain a further 20% in return for a $ 500,000 investment in works and delivery of a 43-101 resource assessment by June 2029. Mosaic is the operator of the project.
This press release has been read and approved by Jeannot Théberge, independent consultant geologist certified under NI 43-101.
About Mosaic Minerals Corporation
Mosaic Minerals Corp. is a Canadian mineral exploration company listed on the Canadian Securities Exchange (CSE: MOC) now focusing on the exploration for future strategic Copper, Nickel and Zinc deposits in priority on the Quebec Province territory which have a long and successful history of base metal production principally in the Rouyn-Noranda, Matagami, Val-d’Or and Chibougamau mining camps.
On Behalf of the Board
M. Jonathan Hamel
President & CEO
jhamel@mosaicminerals.ca
- Published in Mining, Mosaic Minerals, News Home
Mosaic Minerals Intersects 170 Meters Anomalous Nickel Zone on Gaboury Project
Mosaic Minerals Corporation (CSE: MOC) (“Mosaic” or the “Corporation”) announces that it has intersected by drilling an anomalous nickel zone located nearly 1.8 km in western extension of the original discovery of the Pike Nickel zone. The favorable lithology containing the Pike Nickel showing is now have a potential length of over 2.1 kilometers. Further drilling is currently underway to test the eastern lateral extension and at depth of that same showing.
According to preliminary tests made with a portable XRF sampler, hole GA-21-07 would show a significant presence of nickel over a thickness of approximately 170 meters along the hole, while hole GA-21-08, located 300 meters West of GA-21-07, would have intersected this same area over a thickness of about 130 meters. It should be recalled that drilling GA-10-01, drilling of the original discovery carried out in 2010-2011 and located approximately 1.8 km east of recent holes, had intersected a nickel zone over a width of up to 87 meters along the hole (see map attached).
The various XRF tests also detected the presence of cobalt, zinc, and chrome in these same holes. Although XRF results are currently considered less definitive than standard analytical techniques, they are nonetheless indicative of grade and are generally considered qualitative rather than quantitative. The presence of palladium was also detected by the XRF sampler, but the margin of error being higher for this type of element, the company did not see fit to take it into account.
The use of the sampler allows better targeting of the areas to be analyzed, saves a lot of time in terms of preparation, and reduces the cost. The company will therefore limit itself to sending samples from the nickel-bearing zones detected by XRF for analysis.
“We are very pleased to note that the potential of the Pike Nickel showing appears to match our hypothesis based on the lithologic association, which may contain nickel and other associated minerals, with a high intensity magnetic anomaly crossing the south of our property over more than 7 km. Now we’ll have to see if this association remains present in the eastern extension of the index. The XRF sampler is a very good tool to get a very fast response as to whether the desired metals are present. ” said Jonathan Hamel, President and CEO of Mosaic Minerals.
The Gaboury project comprises 82 claims covering an area of approximately 4,282 hectares and is accessible year-round by a provincial road system and by a set of forest roads. The drilling program was awarded to the company Magma Drilling, of Rouyn-Noranda.
Grant of Stock Options
The Company also announces that incentive stock options have been granted to consultants to purchase up to 500,000 common shares at a price of $0.14 per share for two years, pursuant to its Stock Option Plan. The Company currently has 45,678,500 shares issued and outstanding, along with 4,050,000 options (including the options described above) and 10,245,500 warrants outstanding.
This press release has been read and approved by Jeannot Théberge, independent consultant geologist certified under NI 43-101.
About Mosaic Minerals Corporation
Mosaic Minerals Corp. is a Canadian mineral exploration company listed on the Canadian Securities Exchange (CSE: MOC) now focusing on the exploration for future strategic Copper, Nickel and Zinc deposits in priority on the Quebec Province territory which have a long and successful history of base metal production principally in the Rouyn-Noranda, Matagami, Val-d’Or and Chibougamau mining camps.
On Behalf of the Board
M. Jonathan Hamel
President & CEO
jhamel@mosaicminerals.ca
- Published in Mining, Mosaic Minerals, News Home
Mosaic Minerals Announces the Start of Diamond Drilling on the Gaboury Project
Mosaic Minerals Corporation (CSE: MOC) (“Mosaic” or the “Corporation”) is pleased to announce the start of its first diamond drilling program on the Gaboury project, located in the Temiscamingue region of Quebec. The main objectives of this first diamond drilling program of approximately 1,500 meters extension are to test the lateral extensions of the Pike Nickel showing discovered by drilling in 2010 as well as to test the depth extension of the original discovery.
From a regional view, the Pike Nickel zone seems associated with an important magnetic anomaly of direction NN0 – ESE on which several other nickels showings are known such as the Kelly Lake showing1 (1.4mT grading 0.70% Ni and 0.70% Cu as well as 0.32 PGE -). The high precision heliborne magnetic survey carried out by Novatem during the summer of 2021 made it possible to visualize this high magnetic anomaly crossing the south part of the property over than 7 kilometers.
“We are very happy to start a first drilling program on this project. The upward trend in the price of minerals associated with the growth of the electric-vehicle industry makes it possible to look at low grade large volume projects containing different strategic minerals essential to battery production. In the environment of the Gaboury project, we note the presence of nickel, copper, and cobalt as well as some platinum and palladium showings which could bring additional value to the project”, said the CEO of the company Jonathan Hamel.
The Gaboury project comprises 82 claims covering an area of approximately 4,282 hectares and is accessible year-round by a provincial road system and by a set of forest roads. We also note the presence of several other gold, silver, and copper showings on the project. These showings are all located north of the Pike Nickel showing. The drilling program was awarded to the company Magma Drilling, of Rouyn-Noranda.
This press release has been read and approved by Jeannot Théberge, independent consultant geologist certified under NI 43-101.
1 ET 91-04 and Annual Report, Albany Oil and Gas Ltd, 1983
About Mosaic Minerals Corporation
Mosaic Minerals Corp. is a Canadian mineral exploration company listed on the Canadian Securities Exchange (CSE: MOC) now focusing on the exploration for future strategic Copper, Nickel and Zinc deposits in priority on the Quebec Province territory which have a long and successful history of base metal production principally in the Rouyn-Noranda, Mattagami, Val-d’Or and Chibougamau mining camps.
On Behalf of the Board
M. Jonathan Hamel
President & CEO
jhamel@mosaicminerals.ca
- Published in Mining, Mosaic Minerals, News Home