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Mustang Resources Ltd.
Summary
| Project: | Balama | |
|---|---|---|
| Deposit: | Caula | |
| Location: | Mozambique | |
| Commodities: | Graphite-Vanadium | |
| Date: | 6/27/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 27-6-2018: Mustang Resources Ltd. announces an Exploration/Drilling Update report for its Caula deposit at the Balama project. Drilling results incl. 215m @ 0.47% V2O5 from 6m. Mustang Resources Ltd (ASX: MUS) is pleased to report further strong assay res | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Johan Erasmus (Sumsare Consulting) | |
| ABSTRACT: | Mustang Resources Ltd (ASX: MUS) is pleased to report further strong assay results from drilling at its Caula Graphite-Vanadium Project in Mozambique. The assays come from the final seven holes drilled as part of the Caula Scoping Study, which is scheduled for completion in the coming quarter. The latest results contain exceptional assays of up to 1.9% vanadium (V2O5) and 28.9% Total Graphitic Carbon (TGC), as well as confirming the presence of elevated mineralisation around the anticlinal hinge. The results also provide an important insight into the structure and controls of the vanadiumgraphite mineralisation at Caula. Mustang is integrating these latest results with the existing data. Mustang Managing Director Dr. Bernard Olivier said: “These latest assays provide more strong evidence that Caula hosts extensive high-grade graphite mineralisation as well as highly promising vanadium mineralisation. “The results further highlight the potential for Caula to be a world-class, low-cost graphite and vanadium supplier to the fast-growing battery industry.” The Caula Project is located along strike from Syrah Resources’ (ASX: SYR) Balama graphite project in Mozambique. | |
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