Mustang Resources Ltd (
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 deposits, 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 4,200m strike (open ended)
Montepuez Ruby Project - Development
- STRATEGY: Systematically build a resource base & generate revenue whilst doing so
o Test pitting+ bulk sample + sales = JORC Resource
- New high-grade and shallow ruby deposits excavated and being processed at present; ruby inventory expected to increase significantly
- Initial processing of material from highly prospective deposits within new licence delivering exceptional results
- Average grade increased 10% from October 2017 onwards compared with average grade for all previously processed material
- Optimisation of processing plant with improvements and upgrades completed during December quarter 2017
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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.
New Energy Minerals Ltd (ASX:NXE) Amendment to Fura Gems Merger of Ruby Assets Agreement with Pre-Completion Loan
New Energy Minerals Ltd (ASX:NXE) Quarterly Activities Report for the Period Ending 30 September 2018