- Mosaic Minerals (MOC) has signed an agreement to acquire 110 mining claims in James Bay, Quebec
- The claims cover an area of 5,650 hectares, which makes up the Pluton SM Project
- This new project is in a favourable and conducive environment for the exploration of lithium and other minerals
- Mosaic Minerals is acquiring these claims from two separate prospectors, and will grant one a 0.50 per cent net smelter royalty and the other a 2.00 per cent royalty
- Mosaic is a Canadian mineral exploration company focused on the exploration for future strategic nickel and lithium deposits in Quebec
- Mosaic Minerals (MOC) is up 17.39 per cent trading at $0.13 per share
Mosaic Minerals (MOC) has signed an agreement to acquire 110 mining claims in James Bay, Quebec.
The claims cover an area of 5,650 hectares, which makes up the Pluton SM Project. This new project is in a favourable and conducive environment for the exploration of lithium and other minerals.
The company will soon test for the presence of possible pegmatites on the project.
The Pluton SM Project was acquired partly from two independent prospectors which held 39 claims and by staking the remaining 71 claims.
In return for the acquisition of the 39 claims held by the prospectors, the company will issue one prospector 450,000 and the other 1,000,000 of its shares.
Mosaic Minerals will also grant the claim holders 0.50 per cent and 2 per cent net smelter royalties. The company can buy back 1.00 per cent of the larger royalty for $1 million.
With this new acquisition, Mosaic Minerals now holds over 784 claims covering approximately 42,000 hectares divided into 10 separate projects.
Mosaic is a Canadian mineral exploration company focused on the exploration for future strategic nickel and lithium deposits in Quebec.
Mosaic Minerals (MOC) is up 17.39 per cent trading at $0.13 per share as of 12:44 pm EST.