Musk Metals Corp. [CSE-MUSK; OTC-EMSKF; FSE-1I30] has entered into a share purchase agreement to acquire the Temis Sun polymetallic project, located southeast of Ville-Marie, Quebec.
The property encompasses 467 hectares in the Temiscamingue region, within the Belleterre-Angliers greenstone belt (BAGB) of the metal-endowed Abitibi subprovince. The BAGB is regionally known for the historical gold mines around the town of Belleterre, which lies 50 km to the east, and numerous copper-nickel magmatic occurrences and historical mines. Two historical showings, Old Baldface and Fabre-Nord, underpin the mineralization on the property.
Mario Pezzente, CEO, commented: “We saw this opportunity to add strategically located ground in the precious and critical mineral space as traction in this sector continues to increase along with high metals prices. The addition of the Temis Sun property within the Abitibi subprovince, which has proven to be one of the more metal-endowed geological regions in the world, makes this acquisition of high merit. We look forward to commencing exploration on this underexplored ground in the future.”
The Old Baldface showing, circa 1930, comprises a 15-metre deep shaft, historical trenching and limited drilling. Mineralization is polymetallic in nature, hosted in en echelon lenses of quartz veins within a shear zone.
The zone of mineralization on surface has been traced for over 25 metres and up to 5 metres wide. Drill hole 92-1 intersected 5.33 g/t silver over 8.7 metres with anomalous gold, copper and zinc. Historical grab samples have reported up to 0.5 g/t gold. The Fabre Nord showing has had very little recorded historical exploration. Four short drill holes by Silverstar Resources Inc. in 1993 returned 3.24 g/t gold over 2.8 metres, which included 6.48 g/t gold over 0.9 metres, within a smokey quartz vein. Interestingly, drilling also encountered rhyolitic tuffs with semi-massive sulphides up to two m wide containing pyrite-pyrrhotite-chalcopyrite and sphalerite, indicative of VMS-type (volcanogenic massive sulphide) copper-zinc deposits (GM53082).
The company has entered into an arm’s-length share purchase agreement with VFA Mining Corp. and the shareholders of VFA, pursuant to which the company has agreed to acquire all of the issued and outstanding shares of VFA from the vendors for consideration of 5.5 million common shares. The vendors will assist in raising $150,000 in equity financing, on a best effort basis, toward exploration on the project. The agreement is subject to normal course due diligence and applicable regulatory approval. All securities issued in connection with the acquisition are subject to a hold period expiring four months and one day after closing.
Musk Metals’ properties are in the Chapais-Chibougamau, Abitibi, Upper Laurentides and James Bay regions of Quebec.
