Mustang Presentation Update April 2018
Mustang's Montepuez Ruby Project
A Significant New Gemstone 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 discoveries 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 highly prospective ground and extensive secondary ruby mineralisation proven over 4,200m strike (open ended)
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About New Energy Minerals Ltd
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