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 New Energy Minerals Ltd
New Energy Minerals Ltd is an ASX listed company focused on the mining and exploration of Vanadium and Graphite – two commodities critical for the 'New Energy Market'.
The Company is currently fast tracking its world-class Caula Vanadium-Graphite project in Northern Mozambique, located along strike from the Syrah Resources Ltd (ASX:SYR) Balama Project, with first cash flows targeted for H2 of 2019 from trial mining operations. New Energy Minerals' Caula project hosts a JORC (Measured) vanadium-graphite resource of 22 Mt @ 0.37% V2O5 (0.2% cut-off) and 13.4% TGC (8% cut-off) for 81,600 tonnes of vanadium pentoxide (180 million pounds) and 2.93 Mt of contained graphite.
New Energy minerals has a highly experienced Board of Directors, management, finance, exploration and geological team, with a 15-year track record of investment and successful project development in Mozambique and the Africa region. The Company aims to become a major provider of vanadium and graphite, both key components used in battery production.
Contact
Mustang Resources LtdE: info@mustangresources.com.au
WWW: www.mustangresources.com.au
New Energy Minerals Ltd (ASX:NXE) Quarterly Activities Report for the Period Ending 30 September 2018
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Related Industry Topics:
Materials General Mining Graphite Gemstones