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Mustang Resources Ltd.
Summary
| Project: | Balama | |
|---|---|---|
| Deposit: | Balama | |
| Location: | Mozambique | |
| Commodities: | Graphite | |
| Date: | 6/27/2016 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 27-6-2016: Mustang Resources Ltd. announces a Resource Estimation report for its Balama deposit at the Balama project. Initial exploration targets estimated for licenses 6678L & 5873L at project. Mustang Resources Ltd (ASX: MUS) (“Mustang” or “the Company | |
| Resources: | Exploration targets only, no mineral resource currently exists. | |
| CP/QP: | [Overall Report]: C Mouton, J Erasmus (Applied Scientific Services and Technology;Sumsare Consulting) | |
| ABSTRACT: | Mustang Resources Ltd (ASX: MUS) (“Mustang” or “the Company”) is pleased to provide an update on its Balama Graphite Project in Mozambique (“Balama”), including initial exploration targets for two of its eight licenses following recent analysis of its 2015 RC drilling program. Mustang is targeting a high-grade, near surface JORC Compliant Resource(s), at Balama Project this calendar year. The resource definition work will be undertaken on a small scale budget, and will include engaging with market participants to gauge interest around future supply agreements. Significantly, Mustang’s Balama Project is located in the world-class Cabo Delgado graphite province in Mozambique, and is along strike from both Metals of Africa’s (ASX. MTA) graphite projects and Syrah Resources’ (ASX. SYR) Balama graphite project respectively. | |
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