Musk Metals Acquires the Pakeagama Lithium Claims in the “Electric Avenue” Pegmatite Field, Northwestern Ontario
FOR IMMEDIATE RELEASE
MUSK METALS ACQUIRES THE PAKEAGAMA LITHIUM CLAIMS IN THE “ELECTRIC AVENUE”
PEGMATITE FIELD, NORTHWESTERN ONTARIO
APRIL 7 th, 2021, VANCOUVER, BC – 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 (“FL”: TSX.V) 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% Li 2O and hosts a rare technical/ceramic grade spodumene with
low inherent iron (below 0.1% Fe 2O3). 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% Li 2O (indicated) and 12.2 MT averaging 1.36% Li 2O (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
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 it s 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
Acquisition Terms
The Company has entered into a n 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 s igning 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 pr operty 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 mini ng 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 Queb ec, 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: [email protected]
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.