Mosaic Minerals Corporation announced the start of a drilling program of a minimum of 2,000 meters on the Gaboury project located in Temiscamingue, Quebec. The program consisting of a minimum of 8 holes aims to verify the strength of the Pike Nickel index as a whole in order to better identify the most favorable sectors in terms of grade and potential volume. Comprised of the Pike Nickel Centre, West and East showings, this nickel project has currently been traced by drillings over more than 4.5 kilometers.

In addition to the presence of strategic minerals, the Gaboury project also contains several gold showings. Thin-slice petrographic examination revealed that the mineralized rocks are indeed ultramafic in nature, containing serpentine with chromite and magnetite, and up to 1% nickel-bearing sulfides, namely millerite and violationsarite. A sample located in a basalt underlying the ultramafic rocks revealed instead the presence of disseminated pentlandite and in fractures within the basalt.

Based on these results, the company believe that the magmatic nickel deposit model applies well to the Gaboury project. The Company also announces that it has completed an initial prospecting program on the Amanda project focused on lithium exploration. The team of two geologists and two technicians participated in collecting several hundred samples in the targeted areas over a period of approximately 10 days.

An access path for a possible drilling program which could take place in 2024 has also been marked out by the exploration team. The company should soon obtain a report from its consultant summarizing the work carried out during this exploration program. Results should be available by the end of December 2023.