Corporate Presentation at Diggers and Dealers Mining Forum
Sydney, Aug 7, 2017 AEST (ABN Newswire) - Mustang Resources Ltd (
ASX:MUS) (GGPLF:OTCMKTS) provides the Company's latest Corporate Presentation at Diggers and Dealers Mining Forum.
Overview: Mustang Poised For Rapid Growth
- Market Cap: ~A$27million only listed ruby miner in the world
- Flagship Montepuez Project located next to Gemfields PLC (Pre takeover 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 ~132,000 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
Caula Graphite Project
Superior Metallurgy Proven with Prelim Testing
- Metallurgical tests have produced high-grade concentrates (>95% TGC) and exceptional recoveries (96% recovery from fresh rock composite sample) from the Caula Graphite Project
- More than 55% of the fresh graphite assayed has been classed as Jumbo and Large Flake (46% classed as Jumbo and Large Flake for fresh and oxide composites combined)
- Tests were conducted using a simple, conventional flowsheet processing samples with ~13% Total Graphitic Carbon (TGC) head grade
- Results demonstrate Caula's potential to be a low-cost supplier to the expandable graphite and lithium ion battery industries
- The TGC recoveries of both samples are expected to improve with:
o Further flowsheet optimisation.
o Recycling of intermediate tailings streams during locked cycle testing. Current testwork was carried out under open circuit conditions with reported recoveries excluding graphite from intermediate tailings streams.
- Results will underpin maiden JORC Resource scheduled for release in September 2017; scoping study to commence immediately thereafter
To view the full presentation, please visit:
http://abnnewswire.net/lnk/6260I889
About New Energy Minerals Ltd
New Energy Minerals Ltd (ASX:NXE) (FRA:GGY) is an ASX listed junior mining company, that recently announced the divestment of the Company's Caula vanadium - graphite project and the Montepuez Ruby project in Mozambique.
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