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Mustang Resources Ltd.
Summary
| Project: | Balama | |
|---|---|---|
| Deposit: | Caula | |
| Location: | Mozambique | |
| Commodities: | Graphite-Vanadium | |
| Date: | 3/16/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 16-3-2018: Mustang Resources Ltd. announces an Exploration/Drilling Update report for its Caula deposit at the Balama project. Drilling results incl. 125m @ 14.1% TGC, 0.42% V2O5 from 17m. Mustang Resources Ltd (ASX: MUS) is pleased to announce good drill | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Resources]: Johan Erasmus (Sumsare Consulting) | |
| ABSTRACT: | Mustang Resources Ltd (ASX: MUS) is pleased to announce good drilling results from its Caula Graphite and Vanadium Project in Mozambique. Using diamond core drilling, Mustang drilled MODD014 in close proximity to the previous five holes drilled in 2016 (see Figure 1). Assay results from MODD014 include outstanding intersections up to 24% TGC and 1.02% V2O5 with an average grade of 14% TGC and 0.42% V2O5 over 125m from 17m downhole. Mustang Resources Managing Director Dr Bernard Olivier said the latest results would strengthen the impending Resource upgrade at Caula. “Caula goes from strength to strength, as these new results show,” Dr Olivier said. “We have very high graphite grades, substantial widths and a very significant proportion of large and jumbo flake sizes. “Now, in addition to the outstanding graphite mineralisation, we are establishing the presence of substantial vanadium mineralisation. “We look forward to updating the graphite Resource and including a maiden Resource estimate for the vanadium. “This will in turn form part of the Concept Study now underway at Caula.” | |
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