Musk Metals Announces it has Completed Soil Drilling on its 100% Owned "Elon" Lithium Project in Quebec, Canada
May 1, 2024
MAY 1, 2024, VANCOUVER, BC – Musk Metals Corp. (“Musk Metals” or the “Company”) (CSE: MUSK) (OTC: EMSKF) (FSE: 1I30) is pleased to announce it has completed its fifth exploration program for Phase 1, on its 100% owned ‘’Elon’’ lithium project in Quebec. The survey used a motorized auger drill to sample the till and sediments close to the contact with the bedrock. The purpose of the survey was to better define the dispersion of the plume in the till column in three dimensions (3D). The program targeted soils that are located down-ice from identified magnetic and soil anomalies (see news release dated March 4th, 2022) that were not explained during the last rock drill phase (see news release dated December 28th, 2022). Future surveys may consist of additional geophysics which may lead to a second drill phase on the southern part of the Property.
The Program
The program targeted identified magnetic and soil anomalies that are yet explained by drilling (Figure 1). The soil was drilled using a Big Beaver Auger Drilling Rig equipped with a split spoon sampler. A total of six (6) holes were drilled. Difficult land access to the west and muddy terrain caused by the weather prevented the access to some of the targets.
Figure 1: Auger Drill Stations
Overburden thickness in the area is approximately up to 25m thick, based on overburden measurements from the 2022 diamond drilling and 2023 motorized auger campaign. The sampling stations are approximately 25m apart and perpendicular to the glacial flow.
A total of 11 samples were collected from 6 holes that reached about 16m deep. The collected material consists mostly of sandy material or silty material. The assaying protocol will consist in heavy mineral concentrate from the coarse fraction and if enough material is present, a base metal analysis will be conducted on the fine fraction too. The heavy mineral concentrate assaying is expected to be completed in the following week and results will be reported along with next steps for exploration on the Elon Property.
The Property and Adjacent Properties
The Elon Property is strategically located in Abitibi, QC, approximately 600 meters northeast of North American Lithium Project (acquired by Sayona Québec in the past few years) 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 (“Sayona”) formally approved the restart of North American Lithium (NAL) operation for lithium extraction and spodumene concentrate production. In September 2022 Sayona announced a 200 million dollar contract for the mining operations (September 27th, 2022 press release). In March 2023, Sayona reported having produced 1,200 tons of lithium concentrate from North American Lithium (March 15th, 2023 news release). In April 2023, Sayona published a definitive feasibility study that confirms the NAL value with $2.2B NPV (April 13, 2023 news release) and a measured and indicated resource of 25 million tons @ 1.23% Li2O.
Consolidated Lithium Metals Inc. (formerly Jourdan Resources) is investigating a pegmatite field approximately 1,000m SE of the Elon Property. A 14,500m diamond drill holes campaign was announced on their Vallée Property (September 14th, 2023 news release). Highlights from the drilling campaign include a high grade intersection in hole VAL-23-051 that averaged 1.04% Li2O over 7.15 m; an interval in VAL-23-051 of 17.60 m that averaged 0.55% Li2O; and an intersection of 16.02 m from VAL-23-057 that averaged 0.50% Li2O. Two high-grade intersections were also discovered in VAL-23-042 with an interval of 0.60% Li2O over 17.00 and a second interval of 0,68% Li2O over 23.30 m (February 15th, 2024 news release).
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.
Consolidate Lithium Metals inc., September 14th, 2023 news release. Drilling Commences on CLM’s Vallée Joint Venture.
https://consolidatedlithium.com/drilling-commences-on-clms-vallee-joint-venture/
Consolidate Lithium Metals inc., February 15th, 2024 news release. Consolidated Lithium Announces Vallée JV Intersect 1.04% LI2O over 7.15.
https://consolidatedlithium.com/consolidated-lithium-announces-vallee-jv-intersects-1-04-li2o-over-7-15-m/
Jourdan Resources Inc., September 15th, 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 28th, 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. March 15th, 2023 news release. 1200 Tonnes de Concentré de Lithium Commercialisable Produites au Complexe Lithium Amérique du Nord.
https://www.sayona.ca/wp-content/uploads/2023/03/PR_14_mars_2023.pdf
Sayona Québec inc, April 13, 2023 news release. Definitive Feasability Study Confirms NAL Value with $2.2B NPV.
https://www.sayona.ca/en/nos-nouvelles/definitive-feasibility-study-confirms-nal-value-with-a2-2b-npv/
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 Company’s properties are in the “Chapais-Chibougamau”, “Abitibi”, “Upper Laurentides” and “James Bay” regions of Quebec.
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: 2905 – 700 West Georgia Street, Vancouver, BC, V7Y 1C6
FORWARD-LOOKING STATEMENTS
This news release contains forward-looking statements. All statements, other than statements of historical fact that address activities, events, or developments that the Company believes, expects or anticipates will or may occur in the future are forward-looking statements. Forward-looking statements in this news release include, but are not limited to, statements regarding the intended use of proceeds of the Offering and other matters regarding the business plans of the Company. The forward-looking statements reflect management’s current expectations based on information currently available and are subject to a number of risks and uncertainties that may cause outcomes to differ materially from those discussed in the forward-looking statements including that the Company may use the proceeds of the Offering for purposes other than those disclosed in this news release; adverse market conditions; and other factors beyond the control of the Company. Although the Company believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, undue reliance should not be put on such statements due to their inherent uncertainty. Factors that could cause actual results or events to differ materially from current expectations include general market conditions and other factors beyond the control of the Company. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable law.
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.
PO Box 10112
Suite 2905 – 700 West Georgia Street
Vancouver, BC V7Y 1C6
1 604-717-6605