Musk Metals Corp. has entered a property purchase agreement to acquire a 100% interest in the Allison Lake East Lithium claims in Ontario. This acquisition adds a third project to Musk's lithium portfolio, spanning over 1,500 hectares and located near the McCombe Lithium Deposit, which has an unclassified resource of 2.08 Mt averaging 1.3% Li2O. The terms include a payment of $10,000 and issuing 1,500,000 common shares. The acquisition is strategic, placing Musk within a recognized lithium district following recent large land acquisitions by Green Technology Metals.
Musk Metals Corp. has announced a property option agreement with Jinhua Capital Corporation for the Pluto Gold and Base Metals Property in Quebec. Jinhua can earn a 100% interest in the property by exercising options outlined in the agreement. The First Option allows Jinhua to acquire 80% interest through cash or shares, with further exploration expenditures required for the Second Option to gain the remaining 20%. This strategic move aims to enhance Musk Metals' focus on lithium projects.
Musk Metals Corp. has announced its 2022 exploration program for the Elon property in Quebec, emphasizing the strategic importance of lithium in the electric battery sector. The multiphase work program includes geophysical reviews, trenching surveys, and a planned 2,500m drilling program to identify lithium mineralization. The company aims to manage its exploration budget effectively, intending to update shareholders with ongoing results throughout the year. The exploration phases are scheduled from January to November 2022, focusing on targeted and effective exploration practices.
Summary not available.
Musk Metals Corp. has successfully closed two concurrent flow-through private placements, raising a total of $674,980. The Quebec FT Offering attracted 3,408,909 units at $0.11 per unit, while the National FT Offering comprised 3,000,000 units at $0.10 per unit. Proceeds will fund exploration expenses for the company's mineral projects in Quebec and across Canada. Broker warrants were issued alongside the offerings, with a statutory hold period of four months and one day.