Mosaic Minerals Corp.

Company Data | Introduction | Projects in Hand | Management
News Update | Chinese

Company Data

Introduction

Mosaic Minerals is a Canadian mining exploration company listed on the Canadian Securities Exchange focusing on the exploration of critical minerals such as nickel in the mining-friendly province of Quebec.

Nickel consumed by the battery industry currently represents less than 5% of global annual production (2020) but this is expected to increase dramatically over the next number of years.

"Nickel will shine, but it could be a bumpy road," warns British analyst Roskill, a leader in critical materials supply chain intelligence. "Production will have to increase to meet demand from the battery industry. Today, 200,000 tons are needed, nearly 2 million tons will be needed in 2030, ten times more," concludes commodity analyst and economic geologist Christian Hocquard. Hocquard’s figures correspond to the estimate of analysts at Roskill.

Projects in Hand

Gaboury Nickel Project

The Gaboury Project is composed of 114 mining claim cells totaling 6,064 hectares located approximately 150 km SW of the Rouyn-Noranda mining camp and easily accessible by paved and gravel roads and 11 km East of former Loraine Mine that produced 600,000 tonnes of ore grading 0.47% Ni and 1.08% Cu (Source: SIGEOM GM 43679). Nickel, Copper & Gold occurrences were discovered in this geological environment near the project.

On April 4, 2024, Mosaic Minerals Corporation announced the remaining results of the work program consisting of eight drill holes carried out in December 2023 for a total of 2,484 meters on the Gaboury project.

The drilling program is considered a success by the management since it made it possible to test the potential of the main nickel showings: Pike West, Pike Center and Pike East, and to confirm its nickel potential over a length of more than 4.5 km. The presence of zinc, cobalt, copper and gold is also noted in this geological environment associated with several high intensity magnetic anomalies.

The management of the Company is considering a new, more intensive drilling program in the various zones identified by drilling as well as carrying out a geological and prospecting survey covering all the magnetic anomalies located in the immediate environment of the Pike Center and West zones.

Lithium Projects

Mosaic now holds a portfolio of eleven projects focused on lithium and strategic minerals for a total of 78,248 hectares. All these projects are in a geological environment favorable to the discovery of such minerals.

Amanda Project

Amanda Project Featured on Kaiser Research Online

Kaiser Watch November 10, 2023: A new emerging James Bay hotspot? https://www.kaiserresearch.com/s6/KaiserBlog.asp?ReportID=976178

Composed of 145 cells covering an area of 7,677 hectares, the Amanda project is located on Eeyou Istchee territory, James Bay, approximately 65 kilometers northeast of the Whabouchi lithium deposit (Nemaska).

In addition to containing several gold showings identified historically by prospecting and drilling, the Amanda property contains numerous pegmatites identified on the surface containing various minerals associated with the possible presence of spodumene such as beryl, cesium, tantalum, and rubidium. The presence of accessory minerals such as muscovite, garnet, and tourmaline in the environment of these pegmatites is also described in various reports from the Quebec Ministry of Energy and Natural Resources (MERN).

Mosaic has an option agreement with Vanstar Mining Resources Inc. to acquire an initial 50% interest in the Amanda project. (See news release dated August 17, 2023)

The Company has completed an initial prospecting program focused on lithium exploration. The team of two geologists and two technicians participated in collecting several hundred samples in the targeted areas over a period of approximately 10 days. An access path for a possible drilling program which could take place in 2024 has also been marked out by the exploration team.

Other Lithium Projects

• Pluton SM Project
• Lithium SM Project
• Mirabelli SM Project
• Maqua SM Project
• Dalmas SM Project
• Abrat SM Project
• Gervais SM Project
• Bordier SM Project
• Sakami SM Project

113 North Project

On December 5, 2023, Mosaic Minerals announced that it has entered into an arm’s length property option agreement as of November 30, 2023 with Lithium Lion Metals Inc., pursuant to which Lithium Lion has the option to acquire a 100-per-cent interest in the 113 North Project. The Project is formed by 59 mining claims covering approximately 3,107 hectares, located in the southeastern part of the Abitibi greenstone belt of Quebec.

Management

Management and Directors

Jonathan Hamel, President & Chief Executive Officer, Director, Interim Chief Financial Officer

Mr. Hamel is President and CEO of Bullion Gold Resources Corporation (TSX-V: BFD). He was a director at Vanstar from 2018 to 2021, Secretary of the Board since 2020 and acted as Interim President and CEO during management transition in 2020. In addition to his 20 years of management experience that has taken him around the world, Mr. Hamel sat on the Board of Directors at the Montreal Economic Institute, a globally recognized independent public policy think tank focused on proposing reforms based on market principles and entrepreneurship and acted as Guest Lecturer at École des dirigeants – HEC Montréal. Mr. Hamel served on the Financial Innovation Committee of L’Autorité des Marchés Financiers (Québec).

Gilles Laverdière, P.Geo., Vice-President of Exploration, Qualified Person under NI 43-101

Mr. Laverdière worked for various mining exploration companies, one of which being Aur Resources Inc., until 1984, when he founded his geological consulting business. He then managed numerous exploration and development projects in Abitibi and raised funds for mining companies. From 1991 to 1997, he was part of exploration projects in the Philippines, Nevada (Carlin Trend) and in Brazil. From 1997 to 2006, he worked in China where he started HMZ Metals, a polymetallic producer operating a copper smelter with revenues exceeding $15 million per year. Since 2006, he is a consulting geologist and he worked on projects in Abitibi, Central America, and Africa.

Luc Gervais, Eng., Director

Mr. Gervais has 35 years of experience in engineering, construction and maintenance in the mining and metallurgy sectors. He currently sits on the board of Vanstar Mining Resources.

Charles Brulotte, CFA, Director

Mr. Brulotte is a capital markets professional with over 10 years of experience in various Canadian and global financial institutions.

Eric Beauchesne, MBA, Director

Mr. Beauchesne is currently the CEO of Arkys Web Software, specialized in the mining industry. He is also a director and a shareholder of Geotic, a company specializing in the development of geology software. Mr. Beauchesne is a director and shareholder of TMR Communications.

News Update

On September 10, 2024, Mosaic Minerals Corp. has completed its exploration work on the Mirabelli SM project, located near Eastmain, James Bay, Que. A total of 62 samples were collected in four areas, covering mainly the northern part of the property. Assay results are expected to be available in the coming weeks.

The Mirabelli SM property is formed of 345 cells with an area of nearly 20 square kilometres and is located approximately 15 kilometres 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 favourable to the presence of gold, silver, base metals and lithium.

"We are pleased to have been able to complete the exploration campaign on Mirabelli. The desired sectors were covered to follow up on the campaign last June, which had been shorter than expected due to the weather. We are eager to see the assay results, which should be available in the coming weeks," concluded Jonathan Hamel, president and chief executive officer of Mosaic.

On July 25, 2024, Mosaic Minerals Corp. has signed a letter of intent with Iamgold Corp. to acquire 100 per cent of the Amanda property, located in Jamesie, Que. Terms of the agreement

The letter of intent signed between the two parties contains the following terms:

• Mosaic acquires a 100-per-cent interest in the Amanda property.
• Mosaic must fulfill its original commitments ($250,000 of work on Amanda by Oct. 31, 2024) or pay the difference in cash to Iamgold.
• Mosaic will issue three million shares to Iamgold.
• Mosaic will grant a 2-per-cent royalty to Iamgold.
• If Mosaic files a National Instrument 43-101 report with a resource of at least 300,000 indicated ounces of gold (with or without associated minerals), Mosaic will pay $250,000 cash to Iamgold within 90 days.
• Following the filing of an NI 43-101 report, including a resource of at least 300,000 indicated ounces of gold, Iamgold will have 180 days to secure a back-in right and acquire up to 75 per cent of the project under a standard joint venture agreement. This back-in right only applies to gold and/or silver as the primary deposit.

"The company's management is very pleased to have concluded this agreement with Iamgold Corp. This will allow us to consolidate our presence in Jamesie and to be able to plan our work on Amanda without a predetermined schedule. The Amanda project offers various possibilities by the presence of gold but also for base metals and lithium," concluded Jonathan Hamel, president and chief executive officer of Mosaic.

June 11, 2024, Mosaic Signs Option Agreement with Castlebar Capital to Sell Up To 100% Interest in the Lichen Project

https://mosaicminerals.ca/mosaic-signs-option-agreement-with-castlebar-capital-to-sell-up-to-100-interest-in-the-lichen-project/

May 23, 2024, Mosaic Begins Exploration Work at James Bay. Mosaic will start its exploration work on its Mirabelli SM, Maqua SM, Amanda and Pluton SM projects during the next few weeks.

https://mosaicminerals.ca/mosaic-begins-exploration-work-at-james-bay/

April 26, 2024, Mosaic Minerals Corporation announced that it has entered into a letter of intent dated April 25, 2024 (the "LOI") with Castlebar Capital Corp (TSX-V: CBAR.P). Pursuant to the LOI, Castlebar will be granted an option to acquire up to a 100% interest in the Lichen Project.

https://mosaicminerals.ca/mosaic-signs-letter-of-intent-to-sell-up-to-100-interest-in-the-lichen-project/

April 4, 2024, Mosaic Minerals Corporation announced the remaining results of the work program consisting of eight drill holes carried out in December 2023 for a total of 2,484 meters on the Gaboury project.

https://mosaicminerals.ca/mosaic-announces-latest-results-on-gaboury-nickel/

  Disclaimer

Copyright (c) 2000 - 2024 Chinese Investment Club Inc.
All Right Reserved. Do not duplicate or redistributed in any form.
版權所有, 未經同意, 不得以任何形式轉載或翻印