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Musk Metals Corp. (OTC PINK: EMSKF) has announced a non-brokered private placement aiming for gross proceeds of $500,000 at $0.04 per unit. Each unit consists of one common share and one warrant, allowing purchase of an additional share at $0.07 for two years. Proceeds will be utilized for general working capital. The company may pay finder's fees as permitted. The securities will not be registered under U.S. law. Musk Metals focuses on prospective mineral properties in Canada, targeting regions like the Electric Avenue and Abitibi Lithium Camp.
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Musk Metals Corp. has completed its drilling campaign at the 100% owned Elon lithium project in Quebec, finishing four drill holes in the southwest section. Each hole reached a depth of 150m but encountered unexpectedly thick overburden, ranging from 20 to 39m. Despite no pegmatites being found, sulphides were observed in nearly all lithologies. Following this campaign, 118 samples were sent for assay. The next steps include analyzing results to define future exploration. The property is near significant lithium mineralization, indicating potential for further discovery.