Mosaic Minerals Corporation Announces the Completion of the First Phase of its Drilling Campaign

Mosaic Minerals Corporation announced that the first phase of its drilling program for 2022 has been completed.

The goal of this 1000 m drilling program was to explore the western extension of the Pike Ouest nickel showing (holes GA-22-10 and GA-22-11) as well as hole GA-22-09, which was positioned between holes GA-21-07 and GA-21-08 and resulted in the finding of this index in 2021.

In hole GA-22-09, the portable XRF (X-Ray fluorescence) sampler was able to track down an anomalous nickel zone over roughly 100 m. Numerous metric bands of lamprophyres, however, cross this anomaly.

Along with this anomaly, magnesium and chromium anomalies have been discovered. This drilling is also significantly fractured, according to the company, indicating the presence of a big fault in this section.

Hole GA-22-10, which is about 250 m west of hole GA-21-08, began with a nickel zone recognized by the XRF sampler and continued for about 130 m, with another zone of about 15 m found after the drilling at a depth of 300 m.

As a result, the company has no idea how thick the first and second zones are. Magnesium and chromium are also found in these locations.

Hole GA-22-11, approximately 600 m west of GA-22-10, also tracked a 40 m thick nickel zone. A magnetic anomaly parallel to the main anomaly was tested in this hole. In this location, more drilling will be necessary.

The nickel showings are part of an ultramafic corridor that has been identified by drilling across a distance of more than 4 km, including more than 1.2 km in the western section. The company will share the complete results as soon as they are available.

Even if XRF results are less conclusive than traditional analytical procedures, they are nonetheless predictive of grade and are often regarded as qualitative rather than quantitative.

It is very encouraging to note, according to the data obtained from the XRF device, that the nickel zone remains very present in the western extension. We look forward to seeing the full results.

Jonathan Hamel, Chief Executive Officer, Mosaic Minerals Corporation

113 North Project

The company has also finished access preparation for a 1,200 m drilling operation scheduled for the summer of 2022. The 113 North property is located in a geological and geophysical setting that favors nickel, copper, platinum, and palladium deposits.

It is worth noting that Quebec Nickel recently announced substantial findings in Ni, Cu, Pt, and Pd on their Fortin-Ducros index in this same environment, less than 400 m from the 113 North property’s southern boundary.

Lichen Project

The Lichen project’s exploration program is still planned for 2022, according to the company’s management. The program’s goal is to find nickel, cobalt, copper, and zinc showings in the property’s numerous geological formations, as well as trace lithium showings in the project’s various pegmatites.

Since there has been virtually little exploratory activity in this sector, historical data on this project is non-existent.

Now that the site is accessible via several logging roads, an exploration program consisting of a geological study and prospecting will be much easier to carry out. This project had an aerial survey done in 2021, and the results were quite favorable.