Mosaic Minerals acquires Abrat SM lithium project, Quebec
Mosaic Minerals Corp. [MOC-CSE] has acquired by map staking and from two prospectors the Abrat SM project consisting of 148 cells with an area of approximately 6,590 hectares located approximately 50 km east of the municipality of Kangiqsualujjuaq in Nunavik, northern Quebec.
The Abrat SM project is located in a geological environment favorable to the presence of lithium.
Nearly 25 rock outcrops visited by the MERN demonstrate the potential presence of a NW-SE pegmatiferous corridor of nearly 20 kilometers. Five samples from outcrops located in this corridor were analyzed by the MERN and the results showed significant values in lithium ranging from 162 to 359 ppm, in cesium (from 10 to 49 ppm) and in rubidium (from 95 to 443 ppm) over a distance of more than seven km. This pegmatiferous corridor is mainly owned by the company Mosaic (148 cells) as well as by the private company Arlene Explorations (8 cells).
The presence of lanthanum as well as thorium, yttrium, cerium, molybdenum, and zinc are also noted in this corridor.
“The Abrat SM project adds to our portfolio which contains over 65,000 hectares of critical mineral potential. Mosaic is very well positioned in most active camps for lithium exploration, and we believe that Northern Quebec still holds great opportunities,” said Jonathan Hamel, President and CEO of Mosaic Minerals.
Eighty claims were acquired from two prospectors in return for 270,000 common shares of the company and a 1% NSR royalty.
Mosaic Mineral holds a number of lithium and nickel projects in northern Quebec.