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
To view the full presentation, please visit:
http://abnnewswire.net/lnk/464YA0H6
About Mustang Resources Ltd
Mustang Resources Limited (ASX:MUS) (FRA:GGY) is an ASX listed company 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 Mustang announced a maiden vanadium 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 graphite and vanadium, both key components used in battery production, the company currently has a scoping study underway, which is due for completion in Q3 2018.
Visit the Mustang website at http://www.mustangresources.com.au for more information.
Contact
Mustang Resources LtdE: info@mustangresources.com.au
WWW: www.mustangresources.com.au
Mustang Resources Ltd (ASX:MUS) Raises A$2.4 Million in Placement for Caula Vanadium-Graphite Project
Related Companies
Related Industry Topics:
Materials General Mining Graphite Gemstones