Precious Metals

MUSK METALS CORP. ("MUSK METALS" OR THE "COMPANY") (CSE: MUSK) (OTC: EMSKF) (FSE: 1I30 ) is pleased to announce the completion of a detailed structural and geological data compilation and reinterpretation study completed by Orix Geoscience Ltd. ("Orix") on its 100% owned McDonough East Property (the "Property") located 16km northwest of Red Lake, Ontario. This report outlines structural and geological enhancements to the property and provides recommendations as to targets of merit for Musk's Phase 2 exploration program.

This reinterpretation by Orix is based on data from a recently completed high resolution heli-borne magnetic survey conducted by Prospectair Geosurveys Inc. The high-resolution MAG survey was flown over the totality of the property covering 1,535 ha. (3,793 acres) at 50m line spacings. (See news release dated September 2 nd , 2020).

This detailed structural and geological report integrated all historical lithology, mineralization, drilling and structural data with new data from Musk's recently completed MAG survey. The result of the Orix study is a far better understanding of the geological and structural framework of the property (Figure 1).

A Media Snippet accompanying this announcement is available by clicking on the image or link below:

Figure 1. Map A GSC Map Red Lake, 2004. Map B re-interpretation by Orix integrating magnetic features and re-interpretation of geology and structure.

Results of Orix data compilation and reinterpretation study are as follows:

  1. New interpretation reveals that the eastern portion of the property is dominated by a suite of deformed volcanic rocks that are prospective to host gold mineralization;
  2. Similarly, deformed horizons of magnetic-rich sediments at the central-east corner of the property area may contain iron formation, an important host for orogenic gold mineralization in Archean terranes;
  3. The conglomerate horizon on the property also provides a target of merit. This horizon is proximal to the Red Lake and Campbell gold mines in the southern portion of the Red Lake greenstone belt;
  4. Interpreted releasing stepover or bend geometry along the stratigraphy-parallel structure at the northern portion of property may control the alteration and/or intrusive rocks, providing an area of rheology where gold mineralization has the potential to be deposited;
  5. A prospecting program with a focus on structural geology is recommended to further trace prospective units, contacts and structures associated with mineralization and collect structural observations to help verify the interpretation; and
  6. Soil sampling should be conducted to outline possible anomalies where outcrop is minimal.

Orix is recommending a prospecting program with a focus on structural geology is recommended to further trace prospective units, contacts and structures possibly associated with anomalous gold samples as well as collect structural observations to help verify the reinterpretation. A review of the MAG survey products produced by Prospectair for the interpretation is figured below.

A Media Snippet accompanying this announcement is available by clicking on the image or link below:

Figure 2. McDonough East property – high-resolution heliborne magnetic Survey 2021.

About McDonough East - Property Highlights

  • Situated in the prolific Red Lake Greenstone Belt with historic production and current resources of approx. 41 million ounces Au
  • Nearby mineral occurrences with very little methodical exploration and drilling including: 0.435 g/t Au and 92.56 g/t Ag over 2.13m
  • The McDonough East property is contiguous with GoldON Resources Ltd. (GLD - TSX.V) and near Battle North Gold Corporation "Slate Bay" gold property and straddles a regional unconformity that is a key structural signature of many mines within the Red Lake Greenstone Belt.
  • Hosts regional magnetic signatures conducive to Archean-style gold mineralization
  • Four season exploration, all weather road access in an under-explored region of the Red Lake camp
  • Musk Metals is planning a Phase 2 exploration program based on a recent structural and geological data compilation and reinterpretation study completed by Orix Geoscience Ltd.

Musk Metals CEO and Director, Nader Vatanchi states, " The setting at McDonough East is ideal for gold mineralization and w e are encouraged by new data and exploration targets generated by Orix's in depth report. Phase 2 exploration will focus on further defining high priority targets and sampling with the potential for new discoveries on the property ."

A Media Snippet accompanying this announcement is available by clicking on the image or link below:

Figure 3. McDonough East property location in the Red Lake Gold Camp.

Mike Kilbourne, P. Geo, an independent qualified person as defined in National Instrument 43-101, has reviewed and approved the technical contents of this news release on behalf of the Company.

Make sure to follow the Company on Twitter , Instagram and Facebook as well as subscribe for Company updates at http://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: 2905 – 700 West Georgia Street, Vancouver, BC, V7Y 1C6

FORWARD-LOOKING STATEMENTS

This news release contains forward-looking statements. All statements, other than statements of historical fact that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future are forward-looking statements. Forward-looking statements in this news release include, but are not limited to, statements regarding the intended use of proceeds of the Offering and other matters regarding the business plans of the Company. The forward-looking statements reflect management's current expectations based on information currently available and are subject to a number of risks and uncertainties that may cause outcomes to differ materially from those discussed in the forward-looking statements including that the Company may use the proceeds of the Offering for purposes other than those disclosed in this news release; adverse market conditions; and other factors beyond the control of the Company. Although the Company believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, undue reliance should not be put on such statements due to their inherent uncertainty. Factors that could cause actual results or events to differ materially from current expectations include general market conditions and other factors beyond the control of the Company. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable law.

The Canadian Securities Exchange (operated by CNSX Markets Inc.) has neither approved nor disapproved of the contents of this press release.


Primary Logo

News Provided by GlobeNewswire via QuoteMedia

american money with gold bars

Top Stories This Week: Gold Takes Post-Rate Hike Tumble, Powell Projects Pain

Top Stories This Week: Gold Weathers Latest Rate Hike, Powell Projects Painyoutu.be

Gold remained near lows not seen in over two years ahead of this week's US Federal Reserve meeting.

Trading as high as US$1,686 per ounce ahead of the event, which ran from Tuesday (September 20) to Wednesday (September 21), gold sank as low as US$1,658 in the immediate aftermath before rebounding to the US$1,670 level.

Friday (September 23) brought an end to the yellow metal's fairly steady showing, with gold falling to about US$1,640.

Keep reading...Show less

Glencore to Acquire Newmont's 18.75% Shareholding in the Mara Project

Today Glencore International AG ("Glencore") announced, and has made Yamana Gold Inc. (TSX:YRI; NYSE:AUY; LSE:AUY) ("Yamana" or the "Company") aware under the terms of the MARA joint venture ("MARA JV"), that it has reached an agreement (the "Agreement") to acquire Newmont Corporation's ("Newmont") 18.75% shareholding in the MARA Project ("MARA" or the "Project"). Following completion of the Agreement, Yamana remains the MARA JV operator with a 56.25% interest in MARA, with Glencore owning the remaining 43.75%. Yamana welcomes Glencore's increased stake in the Project and believes the Agreement is a positive step for MARA, as the consolidation of ownership amongst partners provides a further endorsement of the quality and strategic optionality inherent in the Project, as well as underpinning its value.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less

Glencore to Acquire Newmont's Stake In MARA Project

Today, Glencore International AG (GIAG) and Newmont Corporation (NYSE: NEM, TSX: NGT) announced they have reached an agreement in which Glencore will acquire Newmont's 18.75% shareholding in the MARA Project (MARA). Following completion of the transaction, Glencore will own 43.75% of MARA.

Under the terms of the agreement, Glencore will pay $124.9 million upon closing and a $30 million deferred payment upon commercial production subject to an annual interest charge of 6%. Total deferred consideration is capped at $50 million.

News Provided by Business Wire via QuoteMedia

Keep reading...Show less
map zoomed in on Ecuador

Gold Mining in Ecuador

With a strong minerals market, favourable government regulations, rich deposits and a strong industry presence, Ecuador is an incredibly attractive investment opportunity for Australian companies.

According to The Fraser Institute's 2021 annual survey of mining and exploration companies, Ecuador is the second most attractive destination in Latin America for mining investment. It's also notable for hosting some of the most attractive gold, silver and copper deposits in the region, many of which remain underexplored. The country's government, meanwhile, has been open about its plan to support mining industry growth.

Thus far, that plan has largely succeeded, with Ecuador's mining exports increasing by 74 percent in 2021. With investments by several powerhouse mining companies and increasing demand for the country's major mineral exports, the coming years will likely see similar growth. Moreover, because Australia is already a major investor in Ecuador, the two countries have existing multiple bilateral agreements in place.

Keep reading...Show less

Investment in Future Secures NGM's Status as Industry Leader

Nevada Gold Mines (NGM) continues to demonstrate the impact of Barrick Gold Corporation's (NYSE:GOLD)(TSX:ABX) strategy of combining the best assets with the best people as new projects and prospects secure its future as a high-quality, long-life operation for decades to come, says NGM chairman Mark Bristow.

Speaking during a visit by a group of equity analysts and investors to see first-hand the development of the Goldrush underground project, the open pit operations and processing facilities at Cortez, and the Third Shaft project and core shack at Turquoise Ridge, Bristow said NGM had unlocked significant synergies by consolidating mines, teams, processing facilities and landholdings.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Halcones Precious Metals Corp. Announces Listing on the TSX Venture Exchange

Halcones Precious Metals Corp. Announces Listing on the TSX Venture Exchange

Halcones Precious Metals Corp. ( TSXV: HPM) ("Halcones" or the "Company") is pleased to announce that the Company's common shares have been listed and admitted to trade on the TSX Venture Exchange (the "TSXV"), with trading to commence as of the opening of market today under the symbol "HPM". The Company completed its qualifying transaction with Halcones Precious Metals Inc., as previously announced in its press release dated September 20, 2022, and further details can be found in the Company's filing statement (the "Filing Statement") dated September 13, 2022. The Filing Statement is available under the Company's profile on SEDAR at www.sedar.com.

Keep reading...Show less

Latest Press Releases

Related News

×