Report
Musk Metals Corp
303 - 570 Granville Street
Phone: (604) 209-1054p:604 209-1054 VANCOUVER, BC  V6C 3P1  Canada Ticker: MUSKMUSK


Musk Metals Acquires the Pakeagama Lithium Claims in the “Electric Avenue” Pegmatite Field, Northwestern Ontario


VANCOUVER, British Columbia, April 07, 2021 (GLOBE NEWSWIRE) -- Musk Metals Corp. (“Musk Metals” or the “Company”) (CSE: MUSK) (OTC: EMSKF) (FSE: 1I30) is pleased to announce that it has entered into an agreement to acquire a 100% interest in the Pakeagama Lithium claims, located in the “Electric Avenue” pegmatite field of northwestern Ontario. The property consists of four contiguous mining claims covering approximately 1,490 hectares. Musk’s Pakeagama property is contiguous to Frontier Lithium’s claim group and only 3km south of the “PAK” and “SPARK” lithium deposits (see Figure 1).

The nearby PAK Lithium deposit contains one of North America's highest-grade, large tonnage hard-rock lithium resources in the form of a rare low-iron spodumene. The PAK deposit has a mineral reserve in the proven and probable categories of 5.77 MT averaging 2.06% Li2O and hosts a rare technical/ceramic grade spodumene with low inherent iron (below 0.1% Fe2O3). The Spark Deposit, located 2.5km northwest of the PAK, was winner of the “2019 Discovery of the Year Award”. The Spark Deposit has a mineral resource estimate of 3.2 MT averaging 1.59% Li2O (indicated) and 12.2 MT averaging 1.36% Li2O (inferred). Frontier Lithium recently completed a Preliminary Economic Assessment that outlines life of project revenue of $8.52 billion over 26-year total project life, and a chemical plant producing 23,174 tonnes of battery-quality lithium hydroxide monohydrate (LiOH-H2O) per year (See FL: TSX.V news dated February 16th 2021).

Figure 1. Proximity of Musk Metals claims to the PAK and Spark lithium deposits of Frontier Lithium is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/bab11b74-b907-4bf8-8d65-c01d795339a4

Musk Metals CEO and Director, Nader Vatanchi states, "Musk’s second lithium project acquisition is situated next to one of North America's highest-grade, large tonnage hard-rock lithium resources in Ontario’s Electric Avenue. Musk Metals has continued to diversify its portfolio of highly prospective exploration projects to include the “Pakeagama” lithium property as the Company continues to maximize shareholder value by participating in the battery revolution.

The Electric Avenue is host to four known lithium bearing pegmatite deposits thus far, all occurring in a northwest trending belt proximal to the Bear Head Fault (Figure 1). The Bear Head Fault is a regional crustal scale structure that is traceable for over 400km through Ontario and Manitoba and is associated with the emplacement of peraluminous fertile granites host to the spodumene-rich lithium bearing pegmatites. Studies by Breaks et al. (OFR6000) in 1998 concluded that the Pakeagama Lake pegmatite field was one of the largest and most evolved rare-element pegmatite systems in the Superior Province of Ontario. Within Musk’s Pakeagama lithium claims are six pegmatic granite occurrences that have been mapped by the Ontario Geological Survey (Map P3224). The property is also strategically located along the Sandy Lake First Nations winter road and the PAK lithium deposit winter road.

Figure 2. Musk Metals Pakeagama lithium claim location along the Electric Avenue, northwestern Ontario is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/bde99d8a-055e-46dc-b96c-be9b6cf04316

Acquisition Terms
The Company has entered into an option agreement with two arm’s length parties pursuant to which the Company has agreed to the following terms: (a) payment of $8,000 and issuance of 300,000 common shares of the Company within three business days of signing the option agreement; (b) payment of $12,000 and issuance of 300,000 common shares of the Company on the first-year anniversary; (c) payment of $20,000 on the second-year anniversary; and (d) payment of $30,000 on the third-year anniversary. The property is subject to a 1.5% Net Smelter Return (“NSR”) to the Vendor of which the Company has the right to purchase a 0.5% NSR for $500,000. The agreement is subject to normal course due diligence and applicable regulatory approval.

Qualified Person
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 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: 303 – 570 Granville Street, Vancouver, BC, V6C 2P1

Neither Canadian Securities Exchange (CSE) nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.


Primary Logo

Map 1

Figure 1. Proximity of Musk Metals claims to the PAK and Spark lithium deposits of Frontier Lithium
Map 2

Figure 2. Musk Metals Pakeagama lithium claim location along the Electric Avenue, northwestern Ontario
Source: Musk Metals Corp.

Related Businesses
- - Customer

Copyright © 2021 by CreditRiskMonitor.com (Ticker: CRMZ®). All rights reserved.  You are not permitted to use this report or the information contained herein for any purpose not expressly permitted by CreditRiskMonitor.com, Inc. Except as expressly permitted by CreditRiskMonitor.com, Inc., you are not permitted, in whole or in part, to copy, alter, correct, adapt, translate, enhance, lease, sell, sublicense, assign, distribute, publish, otherwise make available to any third party, or prepare derivative works or improvements of this report or any of the information contained therein. You are not permitted to reverse engineer, disassemble, decompile, decode, or adapt the software, algorithms or other processes used to prepare this report, or otherwise attempt to derive or gain access to the source code of same. You agree not to remove, alter, obscure, combine or otherwise change any disclaimers, trademarks, copyrights, other intellectual property rights, proprietary rights, or other symbols, notices, marks, or serial numbers on or relating to any copy of the report or on marketing or other materials that CreditRiskMonitor.com, Inc. may provide to you. You will not use this report in any manner or for any purpose that infringes, misappropriates, or otherwise violates any right of any party, or that violates any applicable law.  
The FRISK® scores, agency ratings, credit limit recommendations and other scores, analysis and commentary are opinions of CreditRiskMonitor.com, Inc. and/or its suppliers, not statements of fact, and should be one of several factors in making credit decisions.  Any reliance you place on the information in this report is strictly at your own risk. Except as expressly provided by CreditRiskMonitor.com, Inc., no warranties or representations of any type, including without limitation of results to be obtained, merchantability or fitness for a particular purpose, are made concerning any part of CreditRiskMonitor.com, Inc.’s service, including without limitation the FRISK® scores.  The information published above has been obtained from sources CreditRiskMonitor considers to be reliable.  CreditRiskMonitor.com, Inc. and its third-party suppliers do not guarantee or validate the accuracy and completeness of the information provided in this report, the underlying information input to create the FRISK® scores, and specifically do not assume responsibility for not reporting any information omitted or withheld.  By using this website, you accept the Terms of Use Agreement
Contact Us: 845.230.3000
Fundamental financial data concerning public companies may be provided by Refinitiv (click for restrictions)
Saturday, April 17, 2021