Mosaic Minerals has commenced exploration work on the Mirabelli SM project near Eastmain in James Bay, Quebec, Canada.
The field prospecting campaign is expected to take one week.
The Mirabelli SM property consists of 345 cells covering an area of nearly 20km² and is situated approximately 15km south-east of Eastmain. The property has seen minimal prospecting historically.
The presence of major faults in contact with volcanogenic horizons and tonalitic intrusive within the property suggests a geological environment favourable for the discovery of gold, silver, base metals and lithium.
Mosaic Minerals said the exploration campaign aims to build upon the work conducted in June 2024, targeting areas previously unvisited due to weather conditions.
The company expects to receive the results from the initial campaign in the forthcoming weeks. The campaign carried out in June partially covered the Maqua SM and Mirabelli SM properties.
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By GlobalData
Mosaic has recently completed an airborne magnetic survey over the Pluton SM property, covering a distance of 685km.
The Pluton SM property is located in the eastern extension of Patriot Battery Metals’ Shaakichiuwaanaan project.
In June 2024, Mosaic Minerals signed a letter of intent with Iamgold to gain full ownership of the Amanda property in Jamésie, Quebec.
The property is known for several gold occurrences associated with iron formations and paragneiss, featuring mineralisation of pyrite, pyrrhotite, arsenopyrite and gold.
As per the terms of the letter of intent, Mosaic will take over the Amanda property entirely, committing to either fulfil its original work commitments of C$250,000 ($180,852) by 31 October 2024 or compensate Iamgold in cash for any shortfall.
