Mosaic Minerals Corporation announced that it is abandoning lithium exploration on its properties located primarily in Jamésie, Quebec. The Company will focus on its properties with gold (Amanda) and nickel (Gaboury) potential. Both properties are 100% owned by Mosaic.
The Amanda project, consisting of 145 cells covering approximately 7,677 hectares, is accessible by a year-round forest road. Several gold occurrences associated with iron formations and paragneiss are known in the eastern portion of the Amanda property. Mineralization consists of pyrite, pyrrhotite, disseminated arsenopyrite, and gold in boudinaged quartz veins intersecting iron formations or in paragneiss.
Following a prospecting program carried out in 2020, five new gold showings were identified on the Amanda project. The Raphy, Jako, Natel, Beryl and Marko showings all revealed significant gold grades up to 1,835 ppb. These showings, associated with silicified biotite paragneisses mineralized with pyrite and/or quartz veins mineralized with pyrite or chalcopyrite, highlight the presence of a quartz-tourmaline alteration system and pyrite-chalcopyrite mineralization affecting the host rocks that could be responsible for the contribution of gold mineralization.
The Natel gold showing located in the western part also presents gold anomalies associated with folded iron formations. To the north of the eastern sector, the Jako index is associated with a biotite paragneiss containing mineralized quartz veinlets near oxidized and silicate iron formations identified during the 2020 field campaign.
