Covering an area of 5,650 hectares, these 110 claims constituting the Pluton SM project are located in an environment comprising granitic intrusives with the presence of biotite and muscovite, two minerals considered as markers in the search for lithium. A few surface samples taken in this environment by the MERN gave indications of lithium and thorium contents. The latter is a potential indicator for the presence of minerals such as cesium or rubidium which are themselves useful markers for the search for lithium.
“This new project is located in a favorable and conducive environment for the exploration of lithium and strategic minerals. The presence of possible pegmatites on this project is to be verified but we are confident to find some during our exploration program which we plan to start as soon as access conditions allow us. It should be noted that in their latest press release, Patriot Battery Metals mentions that their latest easternmost drilling revealed significant lithium content. It's interesting to see that the potential Patriot Battery area continues east,” said
The Company is determined to build an extensive portfolio of mining properties focused on strategic minerals, particularly lithium and nickel. With the addition of the Pluton SM project,
Acquisition from prospectors
The Pluton SM project was acquired partly from 2 independent prospectors (39 claims) and by staking (71 claims). In return for the acquisition of the 39 claims held by the prospectors, the company will issue them respectively 450,000 and 1,000,000 shares and will grant them 0.50% NSR for one and 2% NSR for the other, of which 1% may be bought back for
The technical content of this press release has been reviewed and approved by Mr.
About
President & CEO
jhamel@mosaicminerals.ca
This release contains certain “forward-looking information” under applicable Canadian securities laws concerning the Arrangement. Forward-looking information reflects the Company’s current internal expectations or beliefs and is based on information currently available to the Company. In some cases, forward-looking information can be identified by terminology such as “may”, “will”, “should”, “expect”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “projects”, “potential”, “scheduled”, “forecast”, “budget” or the negative of those terms or other comparable terminology. Assumptions upon which such forward-looking information is based includes, among others, that the conditions to closing of the Arrangement will be satisfied and that the Arrangement will be completed on the terms set out in the definitive agreement. Many of these assumptions are based on factors and events that are not within the control of the Company, and there is no assurance they will prove to be correct or accurate. Risk factors that could cause actual results to differ materially from those predicted herein include, without limitation: that the remaining conditions to the Arrangement will not be satisfied; that the business prospects and opportunities of the Company will not proceed as anticipated; changes in the global prices for gold or certain other commodities (such as diesel, aluminum and electricity); changes in
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/968f5578-b9a9-43c8-8e2b-f8d885f7f4e1
Pluton SM Property Map
Pluton Property SM Map
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