Mustang Resources Ltd.: Investor Presentation - July 2017
Sydney - Mustang Resources Ltd. (ASX:MUS) (OTCMKTS:GGPLF) provides the Company's latest Investor Presentation held in July 2017.Overview: Mustang Poised For Rapid Growth
- Market Cap: ~A$24million one of only 2 listed ruby miners in the world
- Flagship Montepuez Project located next to London-listed Gemfields (AIM:GEM Market cap: A$300million)
o GEM: US$280million of rough ruby sales from 8 auctions since June 2014
- Multiple ruby deposits identified in 193km2 land package
- Throughput rates significantly ramped up following successful plant upgrades
- Current ruby inventory of 120,000 cts, up from 500 cts in October 2016
- Mustang on track for first sales revenue with 200,000cts auction in October 2017
- Initial bulk sample confirms significant new ruby discovery on recently acquired licence
o Shallow secondary deposit, with initial bulk sample of 5,692 m3 delivering 4,445 cts of gem quality rubies
o Consistent recovery of stones classed in the special/premium category
o Extensive secondary ruby mineralisation proven over 2.2km strike (open ended)
- Additional upside from Caula Graphite Project a shallow high grade graphite deposit
Montepuez Ruby Project
- STRATEGY: Systematically build a resource base & generate significant revenue whilst doing so
o Auger drilling + bulk sample + auction/tender sales = JORC Resource
- Plant relocated in late 2016, commissioning completed in January 2017, key upgrades in April-June 2017 to deliver 250tph feed-capacity
- >1,500tpd (~328,000tpa) processing capacity from July 2017 onwards, up from ~300tpd (average) in January
- Current inventory stands at 120,000cts all sourced from initial processing of material from Alpha & LM01 deposits and rubies received from artisanal miner development program
- New high-grade and shallow ruby deposits excavated and being processed in coming months- ruby inventory expected to increase significantly
- Initial processing of material from highly prospective new deposits within licence 8245L delivering exceptional results
- Auger drilling campaign will continue with goal of estimating mine life with results of bulk sampling over next 6-12 months helping to establish average grades
Montepuez Ruby Project - New Discovery
- Initial bulk sample confirms significant new ruby discovery on recently acquired licence
- Shallow secondary deposit, with initial bulk sample of 5,692 m3 delivering 4,445 cts of gem quality rubies
- Consistent recovery of stones classed in the special/premium category
- Extensive secondary ruby mineralisation proven over 2,200m strike (open ended)
- New 35sqkm licence sits between the Montepuez processing plant and a key secondary deposit being mined by Gemfields
- Initial bulk sample pit (LM01) yielding high-quality secondary rubies
- Exploration test pitting has defined open-ended ruby mineralisation over a 2.2km extent
- Processing of 4.5 tonnes of gravel from test pits (NT01 to NT23) through mobile jigs has yielded 10.7 cts of rubies
- Auger drilling program proposed to assist in mapping the full size of the secondary ruby deposit(s) in this key target area and beyond
Montepuez Ruby Project - Milestones
- June 2017: 120,000cts inventory & New Discovery
- July 2017: Upgraded 250tph Processing Plant
- October 2017: Sale of min 200,000cts at 1st auction/tender
- H1 2018: Maiden JORC Resource
- March 2018 (est.): 2nd Rough Ruby Auction
To view the full presentation, please visit:
http://abnnewswire.net/lnk/KA31684U
About Mustang Resources Ltd:
Listed on the Australian Securities Exchange, Mustang Resources Ltd. (ASX:MUS) (FRA:GGY) is an emerging gemstone developer and producer focused on the near-term development of the highly prospective Montepuez Ruby Project in northern Mozambique.
The Montepuez Ruby Project consists of four licences covering 19,500 hectares adjacent to the world’s largest ruby deposit discovered by Gemfields Plc (LON:GEM) in 2012. Since supply of rubies from sources outside Mozambique has become fractured and unreliable, Mustang stands to capitalise on the current demand around the world for ethically produced rubies by becoming a reliable, consistent supplier of high-quality rubies.
The Company is fast-tracking its work program on the Montepuez Ruby Project with high priority targets being identified and low-cost bulk sampling well underway. Mustang also holds interests in seven graphite licences in the Balama area of Mozambique, where it has discovered a Tier-1 high-grade flake graphite deposit at its Caula Project.
Visit the Mustang website at http://www.mustangresources.com.au for more information.
Contact:
[wp=3308]Mustang Resources Ltd.[/wp
Managing Director: Christiaan Jordaan
E: info@mustangresources.com.au
T: +61-2-9239-3119
Media & Investor Relations:
Paul Armstrong
E: paul@readcorporate.com.au
T: +61-8-9388-1474
