Musk Metals Announces It Will Begin Drilling on Its 100% Owned "Elon" Lithium Project in Quebec, Canada

Rhea-AI Summary

Musk Metals Corp. has announced the initiation of its fifth exploration program at the Elon lithium project in Quebec, following the receipt of an intervention permit. Drilling will commence post-hunting season, targeting magnetic anomalies identified in previous surveys.

The program includes drilling eight holes, totaling 1,200 meters, with various targets aimed at magnetic low zones and soil anomalies. The region is deemed rich in lithium potential, particularly due to the proximity to the North American Lithium Project.

Positive

• Exploration drilling program signals potential lithium resource development.
• Location near North American Lithium, known for past successful lithium extraction.

Negative

• Previous trenching efforts were unsuccessful due to overburden thickness.
• New permits required for some drill holes may delay the project.

VANCOUVER, BC / ACCESSWIRE / October 5, 2022 / Musk Metals Corp. ("Musk Metals" or the "Company") (CSE:MUSK)(OTC PINK:EMSKF)(FSE:1I30) is pleased to announce it will start its fifth exploration program for Phase 1, on its 100% owned "Elon" lithium project in Quebec. Intervention permit has been recently received for the drill program. The Company proceeded to trenching in 2022 but the overburden thickness was too significant to obtain samples beneath the overburden. The Company then requested the additional permitting to support a diamond drill campaign. The drilling work will start after the hunting season, around the end of October, and will be targeting magnetic anomalies and possible source of soil anomalies from the previously completed soil surveys.

Dynamic Discoveries Geosciences was previously mandated to identify targets using high resolution heliborne magnetic survey (2021) and DEM. Possible dyke swarms cross-cutting the interpreted intrusions, concordant with till anomalies which show a context alike the Quebec Lithium Mine located 600m south-west of the Elon Lithium Property (the "Property").

The Program

The Company is expected to drill 8 holes approximately 150m deep each, for a total 1200 meters. Six holes (001 to 005 and 008) are located on a previously authorized permit, while the last two (006 and 007) are subject to the authorization of a new permit. The holes targets magnetic low, possible sources of soil anomalies or interpreted contact between units (Table 1). Unexplored targets in the present program will be subject to future exploration work, such as shallow drilling or further trenching.

Table 1: Drill Holes Details.

DDH Name	Easting	Northing	Azimut	Dip	Length	Target
DDH-2022-001	292878	5366840	210	-45	150	Hole 1 is located on the T4 Trench, it aims at the NNW-SSE low magnetic corridor emanating from the interpreted intrusion
DDH-2022-002	292917	5367450	30	-45	150	Hole 2is located on the T10 Trench, it aims at a low magnetic corridor emanating from the interpreted intrusion that has been interpreted as a possible dyke swarm
DDH-2022-003	292993	5367160	280	-45	150	Hole 3 aims at a low magnetic corridor emanating from the interpreted intrusion that has been interpreted as a possible dyke swarm
DDH-2022-004	292920	5367010	30	-45	150	Hole 4 aims at the same low magnetic corridor than Hole 3, emanating from the interpreted intrusion that has been interpreted as a possible dyke swarm
DDH-2022-005	293521	5366510	30	-45	150	Hole 5 aims at the E-W low magnetic corridor emanating from the interpreted intrusion
DDH-2022-006	293537	5366390	125	-45	150	Hole 6 aims at the E-W low magnetic corridor emanating from the interpreted intrusion
DDH-2022-007	293438	5366840	210	-45	150	Hole 7 is located in the intrusion. It aim at the possible source of a soil anomaly in the area
DDH-2022-008	292875	5367400	210	-45	150	Hole 8 is located on the trail to the T10 Trench, it aims at a low magnetic corridor emanating from the interpreted intrusion that has been interpreted as a possible dyke swarm

Mountain Bike trails, Cross-Country Ski trails and other trails are present on the southern part of the Property. To prevent damage to these trails, the Company will be using existing roads outside of the trail system to access their drill pads (Figure 1).

Figure 1. Planned Holes, Existing Trails and Access.

The Property and Adjacent Properties

The Elon Property is strategically located in Abitibi, Qc at approximately 600 meters northeast of North American Lithium Project (recently acquired by Sayona Québec) 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 formally approved the restart of North American Lithium operation for lithium extraction and spodumene concentrate production. In September 2022 Sayona announced a 200 million dollars contract for the mining infrastructure development (September 27^th, 2022 press release).

Jourdan Resources is investigating a pegmatite field approximately 1000m SE of the Elon Property, and has reported lithium content of up to 2.38% Li2O over 0.90m and 1.33% Li2O over 5.25m in pegmatites (June 9th, 2022 and July 7th, 2022 news release) and plans to conduct a second drilling campaign (September 15^th, 2022 press release)

This indicates to the Company that the general area is fertile in lithium and that the regional environment is favorable for lithium discoveries.

Debt Settlement

Also, the Company settled $65,375 in related party accounts payable owing to three directors and one former director through the issuance of 1,307,500 common shares at a price of $0.05 per share. The securities issued pursuant to the debt settlement are subject to a statutory four-month-and-one-day hold period.

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.

Jourdan Resources inc., June 9^th, 2022 news release. Jourdan Announces First of Eighteen Drillholes Assay Results With Li20 Grades.

https://jourdaninc.com/jourdan-announces-first-of-eighteen-drillhole-assay-results-with-li2o-grades/

Jourdan Resources inc., July 7^th, 2022 news release. Jourdan Announces More Elevated Li20 Grades From Its Drill Campaign.

https://jourdaninc.com/jourdan-announces-more-elevated-li2o-grades-from-its-drill-campaign/

Jourdan Resources Inc., September 15^th, 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 28^th, 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. September 27^th, 2022 news release. Sayona et L. Fournier & Fils signent un contrat historique pour les opérations minières.

https://www.sayona.ca/wp-content/uploads/2022/09/Communique-Entente-Fournier-2.pdf

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 growing portfolio of mineral properties exhibit favorable geological characteristics in underexplored areas within the prolific "Electric Avenue" pegmatite field of northwestern Ontario, the "Abitibi Lithium Camp" of southwestern Quebec, the "Golden Triangle" district of British Columbia, the Mineral Rich "Red 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
Nader Vatanchi
CEO & Director

For more information on Musk Metals, please contact:

Phone: 604-717-6605
Corporate e-mail: info@muskmetals.ca
Website: www.muskmetals.ca
Corporate Address: 303 - 570 Granville Street, Vancouver, BC, V6C 2P1

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.

SOURCE: Musk Metals Corp.

View source version on accesswire.com:
https://www.accesswire.com/718973/Musk-Metals-Announces-It-Will-Begin-Drilling-on-Its-100-Owned-Elon-Lithium-Project-in-Quebec-Canada

FAQ

What is Musk Metals Corp.'s latest announcement regarding the Elon lithium project?

Musk Metals Corp. announced it will begin drilling for lithium at the Elon project in Quebec after receiving the necessary permits.

When will drilling start at the Elon lithium project?

Drilling is expected to commence at the end of October 2022, following the hunting season.

How many drill holes will Musk Metals Corp. target in the Elon project?

A total of eight drill holes will be targeted, with a depth of approximately 150 meters each.

What is the significance of the Elon lithium project's location?

The Elon project is strategically located near the North American Lithium Project, indicating a fertile area for lithium exploration.

What challenges has Musk Metals faced in its exploration efforts?

The company faced challenges with previous trenching due to thick overburden and requires new permits for some drill holes.