Mosaic Begins Exploration Work at James Bay

MONTREAL, May 23, 2024 (GLOBE NEWSWIRE) -- Mosaic Minerals Corporation (CSE: MOC) (“Mosaic” or “The Company”) announces the start of its exploration work on its Mirabelli SM, Maqua SM, Amanda and Pluton SM projects during the next few weeks.

“We are very enthusiastic about this exploration campaign which allows us to make up for the time lost during last summer’s forest fires. We will explore for the first-time strategic areas of the newly acquired properties which we believe hold attractive potential for a wide range of metals and minerals. Mosaic is well positioned to benefit from the growing market interest in gold, copper, nickel, zinc, and lithium,” said Mr. Jonathan Hamel, President, and CEO of Mosaic.

The Pluton SM project with an area of approximately 5,650 hectares and located in the eastern extension of the Patriot Battery Metals Corvette project will be the subject of a 670 km long helicopter-borne magnetic geophysical survey. This survey will allow the company to better define the structures in place and target work areas for the future.

During the same period, a technical team composed of geologists and technicians will begin a geological survey, prospecting, and sampling campaign on the Mirabelli SM and Maqua SM projects. Several targets identified on these projects by ALS Goldspot and Consultation GeoX will be visited and sampled in order to verify their potential for base metals (Cu, Zn and Ni), lithium, as well as for gold and silver.

The Mirabelli SM property is formed of 345 cells with an area of nearly 20 km² and is located approximately 15 km southeast of the municipality of Eastmain. It is accessible by the Eastmain Village provincial road. The Mirabelli SM sector, which has been very little prospected over the years, could be conducive to the discovery of new metal or mineral indices. Intersected by several major faults located in contact with volcanogenic horizons and tonalitic intrusive, this property presents a geological environment favorable to the presence of gold, silver, base metals, and lithium.

The Maqua SM property located 50 km east of the municipality of Wemindji consists of 69 mining cells with an area of approximately 3,570 hectares and is located 10 km west of the Mia Lithium project (Q2 Metals). According to the technical analysis carried out by ALS Goldspot, the main prospective targets for lithium would be in the southern part of the project, in a geologically favorable corridor for the discovery of lithium.