Montepuez Ruby Project - New Discovery
- The Montepuez region in Mozambique represents a substantial share of the lucrative global ruby market
- Mustang's initial bulk sampling confirms significant new ruby discovery on licences with scope for expansion
- Shallow secondary deposit, with initial bulk sampling delivering gem quality rubies
- Consistent recovery of full quality range including premium category stones
- Mustang has 143sqkm of highly prospective ground and extensive secondary ruby mineralisation proven over 3,300m strike (open ended)
Montepuez - A World-Class Gem Field
- Commercial potential highlighted by Gemfields' success in generating ~US$335 million in ruby sales up to December 2017
- Vast majority gem/facet quality rubies come from secondary deposits (colluvial/elluvial)
- The Montepuez ruby field is very extensive, offering prospects of long mine lives
- Montepuez ruby deposits are typically <15m from surface, freedigging and simple to process with potential for good in-situ grades
- Formula for low-cost, high-margin mining operations
Key Investment Takeaways
- Premier ruby project in a world-class gemstone province
- Management team with in-country experience & "skin in the game"
- Ruby Sales and market development progressing well
- Outstanding exploration upside and growth potential on both projects
- Significant additional upside from Tier-1 High Grade Caula graphite project
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About Mustang Resources Ltd
Listed on the Australian Securities Exchange, Mustang Resources Limited (ASX:MUS) (FRA:GGY) is an emerging gemstone developer and producer focused on the near-term development of the highly prospective Montepuez Ruby Project in northern Mozambique.
The Montepuez Ruby Project consists of three licences and now one mining concession covering 19,300 hectares directly adjacent to the world’s largest ruby deposit discovered by Gemfields PLC in 2012. Since supply of rubies from sources outside Mozambique has become fractured and unreliable, Mustang stands to capitalise on the current high demand around the world for ethically produced rubies by becoming a reliable, consistent supplier of high-quality rubies.
The Company is currently fast-tracking its work program on the Montepuez Ruby Project with extensive secondary deposits discovered and low-cost bulk sampling well underway. First rough ruby sales are scheduled for 27 to 30 October 2017 in Port Louis, Republic of Mauritius under a closed bid tender of more than 350,000 cts gem quality rubies.
Visit the Mustang website at http://www.mustangresources.com.au for more information.
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Mustang Resources Ltd (ASX:MUS) to Raise up to $4.4 Million to Advance Its Ruby and Graphite Projects