Mustang Presentation Update April 2018
Mustang's Montepuez Ruby Project
A Significant New Gemstone 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 discoveries on licences with scope for expansion
- Shallow secondary deposits, with initial bulk sampling delivering gem quality rubies
- Consistent recovery of full quality range including premium category stones
- Mustang has 143sqkm highly prospective ground and extensive secondary ruby mineralisation proven over 4,200m strike (open ended)
To view the full presentation, please visit:
About Mustang Resources Ltd
New Energy Minerals Ltd is an ASX-listed company (ASX:MUS) focused on the development of the Caula Vanadium-Graphite Project in Northern Mozambique, located along strike from the Syrah Resources Ltd (ASX:SYR) Balama Project. In July 2018 New Energy Minerals announced a maiden vanadium mica-hosted JORC Measured Resource for Caula of 22Mt at 0.37% V2O5 for 81,600 tonnes of contained vanadium pentoxide. The Company concurrently announced a 317% increase in its JORC Graphite Resource to 21.9Mt at 13.4% Total Graphitic Carbon ("TGC") (8% cut-off), for a total of 2,933,100 tonnes of contained Graphite, all in the measured category.
The Company has a highly experienced board and management team with a 15-year track record of investment and successful project development in Mozambique and the Africa region. With the aim to become a key provider of vanadium and graphite, both key components used in battery production.
Mustang Resources Ltd