Mosaic Minerals Corporation (CSE: MOC) announces the remaining results of the work program consisting of eight drillings 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.

Table 1 – Analysis Results

^1.The true thickness of the intersections is estimated at approximately 70% of the core interval.

“We are satisfied with this drilling program which confirms the nickel potential over several kilometers. In addition, a geological expert report commissioned from the firm Consultation GeoX (Lucie Mathieu, P.Geo., Ph.D) allows us to conclude that the property has potential for magmatic Ni-Cu type mineralization. The Company will continue exploration work in this direction and evaluate the property for VMS type mineralization and orogenic gold,” said Mr. Jonathan Hamel, President, and CEO of Mosaic.

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.

Table 2 – Technical parameters of drilling

These results coupled with previous results (see map 2) seem to confirm a potential nickel-bearing zone of several kilometers.

Map 2

Exercise of the option on the Lichen property

The Company also announces that it has exercised the option to acquire 100% of the Lichen property from Bullion Gold Resources Corporation (see press release dated May 19, 2021). Mosaic has completed all its commitments and now owns 100% of the 178 claims (9,968 hectares).

The scientific and technical information of Mosaic Minerals Corporation included in this press release has been reviewed and approved by Gilles Laverdière, P.Geo, Vice-President Exploration of Mosaic Minerals and qualified person under National Instrument 43-101 respecting information concerning mining projects.

About Mosaic Minerals Corporation

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