| Headline: | Musk Metals Announces It Will Begin Drilling on Its 100% Owned "Elon" Lithium Project in Quebec, Canada |
| Location: | US |
| Post Date: | Oct 21, 2022 7:30 PM |
| TAG ID: | awire106535 |
| DocID: | 718973 |
| Word Count: | approx. 1119 words |
| Full story: | |
| VANCOUVER, BC / ACCESSWIRE / October 5, 2022 / Musk Metals Corp. ("Musk Metals" or the "Company") (CSE:MUSK)(OTC PINK:EMSKF)(FSE:1I30 ) is pleased to announce it will start its fifth exploration program for Phase 1, on its 100% owned "Elon" lithium project in Quebec. Intervention permit has been recently received for the drill program. The Company proceeded to trenching in 2022 but the overburden thickness was too significant to obtain samples beneath the overburden. The Company then requested the additional permitting to support a diamond drill campaign. The drilling work will start after the hunting season, around the end of October, and will be targeting magnetic anomalies and possible source of soil anomalies from the previously completed soil surveys. Dynamic Discoveries Geosciences was previously mandated to identify targets using high resolution heliborne magnetic survey (2021) and DEM. Possible dyke swarms cross-cutting the interpreted intrusions, concordant with till anomalies which show a context alike the Quebec Lithium Mine located 600m south-west of the Elon Lithium Property (the "Property"). The Program The Company is expected to drill 8 holes approximately 150m deep each, for a total 1200 meters. Six holes (001 to 005 and 008) are located on a previously authorized permit, while the last two (006 and 007) are subject to the authorization of a new permit. The holes targets magnetic low, possible sources of soil anomalies or interpreted contact between units (Table 1). Unexplored targets in the present program will be subject to future exploration work, such as shallow drilling or further trenching. Table 1: Drill Holes Details. DDH Name Easting Northing Azimut Dip Length Target DDH-2022-001 292878 5366840 210 -45 150 Hole 1 is located on the T4 Trench, it aims at the NNW-SSE low magnetic corridor emanating from the interpreted intrusion DDH-2022-002 292917 5367450 30 -45 150 Hole 2is located on the T10 Trench, it aims at a low magnetic corridor emanating from the interpreted intrusion that has been interpreted as a possible dyke swarm DDH-2022-003 292993 5367160 280 -45 150 Hole 3 aims at a low magnetic corridor emanating from the interpreted intrusion that has been interpreted as a possible dyke swarm DDH-2022-004 292920 5367010 30 -45 150 Hole 4 aims at the same low magnetic corridor than Hole 3, emanating from the interpreted intrusion that has been interpreted as a possible dyke swarm DDH-2022-005 293521 5366510 30 -45 150 Hole 5 aims at the E-W low magnetic corridor emanating from the interpreted intrusion DDH-2022-006 293537 5366390 125 -45 150 Hole 6 aims at the E-W low magnetic corridor emanating from the interpreted intrusion DDH-2022-007 293438 5366840 210 -45 150 Hole 7 is located in the intrusion. It aim at the possible source of a soil anomaly in the area DDH-2022-008 292875 5367400 210 -45 150 Hole 8 is located on the trail to the T10 Trench, it aims at a low magnetic corridor emanating from the interpreted intrusion that has been interpreted as a possible dyke swarm Mountain Bike trails, Cross-Country Ski trails and other trails are present on the southern part of the Property. To prevent damage to these trails, the Company will be using existing roads outside of the trail system to access their drill pads (Figure 1). Figure 1. Planned Holes, Existing Trails and Access. The Property and Adjacent Properties The Elon Property is strategically located in Abitibi, Qc at approximately 600 meters northeast of North American Lithium Project (recently acquired by Sayona Québec) and formerly known as Mine Québec Lithium. North American Lithium produced over 907,000 tons of material at 1.40% Li2O between 1955 and 1965 (Boily et al, 1989). In a June 28th, 2022 news release, Sayona Québec formally approved the restart of North American Lithium operation for lithium extraction and spodumene concentrate production. In September 2022 Sayona announced a 200 million dollars contract for the mining infrastructure development ( September 27 th , 2022 press release ). Jourdan Resources is investigating a pegmatite field approximately 1000m SE of the Elon Property, and has reported lithium content of up to 2.38% Li2O over 0.90m and 1.33% Li2O over 5.25m in pegmatites (June 9th, 2022 and July 7th, 2022 news release) and plans to conduct a second drilling campaign ( September 15 th , 2022 press release ) This indicates to the Company that the general area is fertile in lithium and that the regional environment is favorable for lithium discoveries. Debt Settlement Also, the Company settled $65,375 in related party accounts payable owing to three directors and one former director through the issuance of 1,307,500 common shares at a price of $0.05 per share. The securities issued pursuant to the debt settlement are subject to a statutory four-month-and-one-day hold period. References: Boily, M., Pilote, P., Raillon, H., 1989: La métallogénie des métaux de haute technologie en Abitibi-Témiscamingue. Ministère des Ressources Naturelles, MB 89-29. Jourdan Resources inc., June 9 th , 2022 news release. Jourdan Announces First of Eighteen Drillholes Assay Results With Li20 Grades . https://jourdaninc.com/jourdan-announces-first-of-eighteen-drillhole-assay-results-with-li2o-grades/ Jourdan Resources inc., July 7 th , 2022 news release. Jourdan Announces More Elevated Li20 Grades From Its Drill Campaign . https://jourdaninc.com/jourdan-announces-more-elevated-li2o-grades-from-its-drill-campaign/ Jourdan Resources Inc., September 15 th , 2022 news release. Jourdan Announces Soil Sampling Program Expansion And Arrival Of Second Drill To Accelerate Completion Of Its Phase 3 Summer Drill Campaign. https://jourdaninc.com/jourdan-announces-soil-sampling-program-expansion-and-arrival-of-second-drill-to-accelerate-completion-of-its-phase-3-summer-drill-campaign/ Sayona Québec inc. June 28 th , 2022 news release. Sayona & Piedmont Formally Approve NAL Restart . https://sayonamining.com.au/wp/wp-content/uploads/2022/06/SYA_NAL-restart_28-Jun-22.pdf Sayona Québec inc. September 27 th , 2022 news release. Sayona et L. Fournier & Fils signent un contrat historique pour les opérations minières. https://www.sayona.ca/wp-content/uploads/2022/09/Communique-Entente-Fournier-2.pdf Qualified Person This press release was prepared by Pierre-Alexandre Pelletier, P.Geo OGQ, and Steven Lauzier, P.Geo OGQ whom are qualified persons as defined under National Instrument 43-101, and who reviewed and approved the geological information provided in this news release. Make sure to follow the company on Twitter , Instagram and Facebook as well as subscribe for company updates at www.muskmetals.ca About Musk Metals Corp. Musk Metals is a publicly traded exploration company focused on the development of highly prospective, discovery-stage mineral properties located in some of Canada's top mining jurisdictions. The growing portfolio of mineral properties exhibit favorable geological characteristics in underexplored areas within the prolific "Electric Avenue" pegmatite field of northwestern Ontario, the "Abitibi Lithium Camp" of southwestern Quebec, the "Golden Triangle" district of British Columbia, the Mineral Rich "Red Lake" mining camp of Northwestern Ontario and the "Chapais-Chibougamau" mining camp, the second largest mining camp in Quebec, Canada. ON BEHALF OF THE BOARD Nader Vatanchi CEO & Director For more information on Musk Metals, please contact: Phone: 604-717-6605 Corporate e-mail: [email protected] Website: www.muskmetals.ca Corporate Address: 303 - 570 Granville Street, Vancouver, BC, V6C 2P1 Neither Canadian Securities Exchange (CSE) nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release. SOURCE: Musk Metals Corp. View source version on accesswire.com: https://www.accesswire.com/718973/Musk-Metals-Announces-It-Will-Begin-Drilling-on-Its-100-Owned-Elon-Lithium-Project-in-Quebec-Canada |
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