Determine 1. Proximity of Musk Metals claims to the PAK and Spark lithium deposits of Frontier Lithium
Determine 2. Musk Metals Pakeagama lithium declare location alongside the Electrical Avenue, northwestern Ontario
VANCOUVER, British Columbia, April 07, 2021 (GLOBE NEWSWIRE) — Musk Metals Corp. (“Musk Metals” or the “Firm”) (CSE: MUSK) (OTC: EMSKF) (FSE: 1I30) is happy to announce that it has entered into an settlement to accumulate a 100% curiosity within the Pakeagama Lithium claims, positioned within the “Electrical Avenue” pegmatite area of northwestern Ontario. The property consists of 4 contiguous mining claims masking roughly 1,490 hectares. Musk’s Pakeagama property is contiguous to Frontier Lithium’s declare group and solely 3km south of the “PAK” and “SPARK” lithium deposits (see Determine 1).
The close by PAK Lithium deposit accommodates considered one of North America’s highest-grade, massive tonnage hard-rock lithium sources within the type of a uncommon low-iron spodumene. The PAK deposit has a mineral reserve within the confirmed and possible classes of 5.77 MT averaging 2.06% Li2O and hosts a uncommon technical/ceramic grade spodumene with low inherent iron (beneath 0.1% Fe2O3). The Spark Deposit, positioned 2.5km northwest of the PAK, was winner of the “2019 Discovery of the 12 months Award”. The Spark Deposit has a mineral useful resource estimate of three.2 MT averaging 1.59% Li2O (indicated) and 12.2 MT averaging 1.36% Li2O (inferred). Frontier Lithium just lately accomplished a Preliminary Financial Evaluation that outlines lifetime of undertaking income of $8.52 billion over 26-year complete undertaking life, and a chemical plant producing 23,174 tonnes of battery-quality lithium hydroxide monohydrate (LiOH-H2O) per 12 months (See FL: TSX.V information dated February 16th 2021).
Determine 1. Proximity of Musk Metals claims to the PAK and Spark lithium deposits of Frontier Lithium is out there at https://www.globenewswire.com/NewsRoom/AttachmentNg/bab11b74-b907-4bf8-8d65-c01d795339a4
Musk Metals CEO and Director, Nader Vatanchi states, “Musk’s second lithium undertaking acquisition is located subsequent to considered one of North America’s highest-grade, massive tonnage hard-rock lithium sources in Ontario’s Electrical Avenue. Musk Metals has continued to diversify its portfolio of extremely potential exploration initiatives to incorporate the “Pakeagama” lithium property because the Firm continues to maximise shareholder worth by taking part within the battery revolution.”
The Electrical Avenue is host to 4 recognized lithium bearing pegmatite deposits to date, all occurring in a northwest trending belt proximal to the Bear Head Fault (Determine 1). The Bear Head Fault is a regional crustal scale construction that’s traceable for over 400km by way of Ontario and Manitoba and is related to the emplacement of peraluminous fertile granites host to the spodumene-rich lithium bearing pegmatites. Research by Breaks et al. (OFR6000) in 1998 concluded that the Pakeagama Lake pegmatite area was one of many largest and most developed rare-element pegmatite techniques within the Superior Province of Ontario. Inside Musk’s Pakeagama lithium claims are six pegmatic granite occurrences which were mapped by the Ontario Geological Survey (Map P3224). The property can be strategically positioned alongside the Sandy Lake First Nations winter highway and the PAK lithium deposit winter highway.
Determine 2. Musk Metals Pakeagama lithium declare location alongside the Electrical Avenue, northwestern Ontario is out there at https://www.globenewswire.com/NewsRoom/AttachmentNg/bde99d8a-055e-46dc-b96c-be9b6cf04316
The Firm has entered into an possibility settlement with two arm’s size events pursuant to which the Firm has agreed to the next phrases: (a) cost of $8,000 and issuance of 300,000 frequent shares of the Firm inside three enterprise days of signing the choice settlement; (b) cost of $12,000 and issuance of 300,000 frequent shares of the Firm on the first-year anniversary; (c) cost of $20,000 on the second-year anniversary; and (d) cost of $30,000 on the third-year anniversary. The property is topic to a 1.5% Internet Smelter Return (“NSR”) to the Vendor of which the Firm has the best to buy a 0.5% NSR for $500,000. The settlement is topic to regular course due diligence and relevant regulatory approval.
Certified Particular person
Mike Kilbourne, P. Geo, an unbiased certified particular person as outlined in Nationwide Instrument 43-101, has reviewed and authorized the technical contents of this information launch on behalf of the Firm.
About Musk Metals Corp.
Musk Metals is a publicly traded exploration firm centered on the event of extremely potential, discovery-stage mineral properties positioned in a few of Canada’s prime mining jurisdictions. The rising portfolio of mineral properties exhibit favorable geological traits in underexplored areas inside the prolific “Electrical Avenue” pegmatite area of northwestern Ontario, the “Abitibi Lithium Camp” of southwestern Quebec, the “Golden Triangle” district of British Columbia, the mineral-rich “Pink Lake” mining camp of Northwestern Ontario and the “Chapais-Chibougamau” mining camp, the second largest mining camp in Quebec, Canada.
ON BEHALF OF THE BOARD
CEO & Director
For extra info on Musk Metals, please contact:
Neither Canadian Securities Alternate (CSE) nor its Regulation Companies Supplier (as that time period is outlined within the insurance policies of the Canadian Securities Alternate) accepts duty for the adequacy or accuracy of this launch.