Exploration company Mosaic Minerals has added to its portfolio of critical minerals assets by acquiring the Abrat SM project, in Quebec.
The project, acquired by map staking and from two prospectors, consists of 148 cells with an area of about 6 590 ha located about 50 km east of the municipality of Kangiqsualujjuaq, in Nunavik.
The Abrat SM project is located in a geological environment favourable to the presence of lithium.
“The Abrat SM project adds to our portfolio which contains over 65 000 ha of critical mineral potential. Mosaic is very well positioned in most active camps for lithium exploration, and we believe that northern Quebec still holds great opportunities,” said Mosaic CEO Jonathan Hamel.
Eighty claims were acquired from two prospectors in return for 270 000 common shares of the company and a 1% net smelter return royalty.