Mustang Minerals
Mustang berichtet positive Ergebnisse von Prefeasibility-Studie zu Open Pit Maskwa Nickel-Projekt
TORONTO, ONTARIO - (Marketwire - 8. Mai 2008) - Mustang Minerals Corp, (TSX Venture: MUM) (Frankfurt: NJF) gab heute bekannt, positive Ergebnisse aus der Studie abgeschlossen prefeasibility für die Gesellschaft Maskwa Nickel-Kupfer-Platin-Gruppe Metalle Projekt befindet sich in der Nähe von Lac du Bonnet Manitoba. Die Studie wurde von Micon International Limited mit Met-Chem Canada Inc. Wardrop Engineering Inc. und Golder Associates Ltd Das vorgeschlagene Projekt ist ein 2750 Tonnen pro Tag Tagebau und Fräsen Betrieb produziert einen Durchschnitt von 9,2 Millionen Pfund Nickel pro Jahr in konzentrieren und andere Kredite einschließlich der Platin-Gruppe Metalle, Kupfer und Kobalt. Micon dem Schluss, dass "die Maskwa Projekt enthält einen wirtschaftlichen Mineralreserven Reserve und Optionsscheine weitere Entwicklung auf die volle Durchführbarkeitsstudie."
Mustang Präsident Robin Dunbar, kommentierte: "Die Studie zeigt prefeasibility wichtige Fortschritte auf dem Laufenden über die Mine Entwicklung und das Potenzial für Maskwa zu einem niedrigen Cash-Kosten Hersteller von Nickel. Das Projekt hat außergewöhnliche Aufwärtspotenzial von hier aus auch das Potential für mehr in Grube Ressourcen-und durch die Einbeziehung Mustang's Mayville große Ressource. "
Mit dem Wechselkurs-und Metall-Preis hierin enthaltenen Annahmen das Projekt wird den Projektionen zufolge ein Ertrag vor Steuern interne Rendite (IRR) von 19,4% und ein NPV von C $ 62,2 Millionen in ein 8% Rabatt. Die undiskontierten vor Steuern Operating Profit aus dem Projekt ist C $ 285 Mio. mit Peak einzigen Jahr das Ergebnis vor Steuern von $ 63 Millionen. Net Lebens-Mine Einnahmen für das Projekt nach dem Schmelzen und Affinieren Gebühren ist $ 569 Millionen. Betriebskosten pro Tonne geschliffenem $ 39,54 Durchschnittswerte für die gesamte Lebensdauer des Projekts. Cash-Kosten von Nickel produziert nach Abzug von Gutschriften ist EUR 2,77 pro Pfund. Die anfängliche Investitionskosten des Projekts ist C $ 123 Mio., einschließlich Kontingenz von C $ 10,6 Millionen.
Wardrop Engineering Inc. (Wardrop) geschätzt, ein bewährtes und wahrscheinliche offene Grube Reserve in Höhe von 7,11 Mio. Tonnen Einstufung von 0,64% Nickel, 0,13% Kupfer, 0,01% Kobalt, 0,10 g / t Platin und 0,37 g / t Palladium. Die Reserve ist auf der Grundlage einer verdünnten Nickel Cut-Off von 0,2% Nickel. Eine Phase zwei offene Grube Design wurde. Total Tonnen Abfälle in Phase 1 wurden 15,54 Millionen Tonnen für einen Streifen Verhältnis von 5.5:1. Die Streifen-Verhältnis für Phase 1 und 2 kombiniert ist 10.8:1. Die Reserve wurde aus einer geologischen Ressourcen von gemessenen und Indiziert Ressourcen von 10,12 Mio. Tonnen Besoldungsgruppe 0,60% Nickel, 0,12% Kupfer, 0,105% Kobalt, 0,38 Gramm / Tonne Palladium und 0,10 Gramm / Tonne Platin.
Auf der Grundlage von Probenahmen Infill-Programme durchgeführt, in den letzten Monaten von der Gesellschaft, Wardrop hat festgestellt, dass starkes Potential vorhanden ist für das Hinzufügen von zusätzlichen Mineralisierung von beiden die "hangingwall" der Grube und die wichtigsten Zone der Mineralisierung. Wardrop deutet darauf hin, dass eine neue geologische Modell für die Mineralisierung erstellt werden und überprüft mit zusätzlichen Bohrungen und weitere Infill Probenahme von historischen Bohrungen für die Unternehmen.
Die wirtschaftliche Analyse verwendet die Übernahme einer US $ 10 pro Pfund Nickel-Preises in den ersten 2 Jahren (basierend auf der Annahme, dass die ersten beiden Jahre der Produktion abgesichert werden könnten) wieder auf einen langfristigen Metall Preis von $ 8 pro Pfund. Die sich daraus ergebenden durchschnittlichen Preise prognostiziert für die gesamte Lebensdauer des Projekts, ausgedrückt in 2007 Dollar, sind Nickel $ 8,57 (US) pro Pfund, Kupfer $ 2,42 (US) pro Pfund, Kobalt $ 20 (US) pro Pfund, Platin $ 1500 (US) pro Unze und Palladium $ 359,70 (US) pro Unze. Die Basis Wechselkurs davon ausgegangen, für das wirtschaftliche Modell ist Canadian-dollar/US-dollar entspricht 0,90.
Die Verarbeitung der Erze wird durch Standard-Schleif-und Flotation Techniken. Die meisten der comminution Test Arbeit wurde von SGS Mineral Services von Lakefield Ontario. Metallurgical Einziehungen, die in der Studie wurden auf der Grundlage umfangreicher Test Arbeiten im Prozess Research Associates in Richmond BC unter der Leitung von F. Wright Consulting Inc. Die meisten der assoziierten analytischen Arbeit wurde von IPL Laboratories hat die Zulassung ISO 9001 mit Check Analysen, die von ACME Labs in Vancouver BC. Testwork sowohl offene Zyklus Zyklus gesperrt und Tests. Die vorhergesagte Pflanze die Einziehung von 72% Nickel, 81% Kupfer, Kobalt 71%, 47% Platin und Palladium 82% wurden auf der Grundlage eines Zyklus gesperrt Test, produziert eine durchschnittliche Konzentration von 10,2 Grad% Nickel, 2,5% Kupfer, 0,36% Kobalt 9,8 g / t Palladium und 1,5 g / t Platin. Dieses Konzentrat enthält auch rund 33% S, 35% Fe und 5,4% MgO. Schmelzen und Affinieren Kosten wurden auf der Grundlage von vorläufigen Begriffe, die von einem Sudbury-Hütte und Raffinerie von Nickel und Metallen assoziiert. Der Bericht von F. Wright Consulting dem Schluss, dass "Auf der Grundlage von neueren Studien offenen Zyklus ... weitere Verbesserungen bis zur Erholung kann durch Änderungen an der Regelung Reagens."
Anfangskapital Kosten (einschließlich, aber nicht nachhaltig Kapital) für das Projekt einschließlich der Kontingenz wird auf $ 123 Millionen. Wichtige Kostenelemente umfassen Anlagen und Infrastruktur bei $ 65,6 Millionen; Bergbau bei $ 29,4 Millionen; EPCM und Besitzer Kosten von $ 13,2 Millionen; Bergematerial und Wasserwirtschaft von $ 4 Mio. und Kontingenz von $ 10,6 Millionen. Die Anlage und die Infrastruktur wurde für eine durchschnittliche Durchsatz von 2750 Tonnen Erz pro Tag. Met-Chem Canada Inc. vollendet das Werk und die Infrastruktur als auch Kapitalkosten und Betriebskosten Schätzung für die Pflanze. Power wird der Zugriff von Manitoba Hydro-Raster.
Baseline ökologischen Studien sind weit fortgeschritten im Projektgebiet und die Firma wird in Kürze beginnen öffentliches Engagement für das Projekt führt zu einer förmlichen Antrag ermöglichen. Bergematerial und Wasserwirtschaft Einrichtungen wurden von Golder Associates Ltd
Mustang Verfahren mit voller Machbarkeitsstudie
Die Mustang Board of Directors genehmigt hat, dass eine vollständige Machbarkeitsstudie abgeschlossen sein und eine Mine Genehmigung beantragt werden in der Maskwa Project. Derzeit zusätzliche Arbeiten an dem Projekt konzentriert sich auf in-Grube Ressource Expansion. Mustang hat Bohren zusätzlichen Bohrungen im Bereich der vorgeschlagenen Maskwa Open Pit und hat zusätzliche Probenahme der zur Verfügung stehenden historischen Löcher. Auf der Grundlage der Ergebnisse dieser Arbeit zu einer neuen Ressource wird berechnet für die Aufnahme in die vollständige Machbarkeitsstudie. Mustang wird auch untersuchen, liefern offene Grube-Feed von der Mayville M2 Ressource zur weiteren Verbesserung der Wirtschaftlichkeit und Mine Leben der Maskwa Projekt.
Die externen qualifizierten Personen zum Zwecke der National Instrument 43-101 sind:
Micon International Inc. - Ian Ward P. Eng, Chris Jacobs C. Eng.
Wardrop Engineering Inc, - Cliff Herzog, P. Eng., Chris Sharpe, P. Eng.
Met-Chem Canada Inc. - Lionel Poulin Eng.
F. Wright Consulting Inc. - Frank Wright P. Eng.
Golders Associates Ltd - Irwin Wislesky, P. Eng.
Über Mustang Minerals Corp - unedlen Metallen Ressourcen
Mustang besitzt 100% der Rechte an mineralischen Maskwa unterliegen einer 1% Netto-Verhüttungsprojekte Royalty ohne Verpflichtungen für die Abnahme oder Back-Rechte im Besitz eines Dritten gestellt werden. Mustang auch Eigentümer der mineralischen Rechte an der Mayville der Immobilie befindet sich 35 km auf der Straße von Maskwa. Die geologische Ressource in der Mayville M2 Zone besteht aus einer offenen Grube Indiziert Ressource von 21,9 Mio. Tonnen Einstufung von 0,20% Nickel und 0,48% Kupfer mit 94,3 Millionen Pfund Nickel und 232 Millionen Pfund Kupfer. Die M2 Ressource wurde von Scott Wilson Roscoe Postle Associates im Januar 2007. (für technische Hinweise finden Sie in Feb.7, 2008 Pressemitteilung
es scheint eine welle zu schlagen:
gestern 500T Umsatz
und heute schon wieder über 100T Umsatz
wir gehen gegen norden jungs!
Der zocker
hatten wir ja echt lange nicht mehr so einen betrieb bei mustang.
da muss ja echt morgen was richtig großes auf uns warten oder ist das ganze doch nur ne große luftblase?
greetz minut
Mustang Drilling at East Bull
TORONTO, ONTARIO--(Marketwire - May 12, 2008) - Mustang Minerals Corp.(TSX VENTURE:MUM)(FRANKFURT:NJF) today announced that it has commenced drilling and has encountered mineralization at the East Bull Lake Property west of Sudbury Ontario. The Company is targeting platinum group metals-nickel-copper mineralization at the Property. A program of 1,000 meters of diamond drilling is planned in the first phase.
Mustang has held unpatented mining claims through option agreements covering the East Bull Lake Intrusion since 1998. The East Bull Lake Property has been the source of considerable fieldwork and drilling by Mustang and other exploration companies as well as work completed by the Ontario Geological Survey. Previous work by Mustang has concentrated primarily on disseminated platinum group metal mineralization along the contact of the intrusion. A 1993 Ontario Geological Survey Report (Open File Report 5849. Peck, James Chubb et al) concluded that the "potential exists for extremely large tonnages of sulphide mineralization, perhaps even massive sulphides (along the floor of the intrusion), which have platinum-group element-enrichment levels equating to reef environments."
Mustang completed a Geotech VTEM heliborne geophysical survey over the East Bull Lake Property in 2007. In March 2008 Mustang had geophysical analysis and interpretation of the VTEM data completed, supervised by Caracle Creek Consulting of Sudbury Ontario. The interpretation of the VTEM data identified several priority targets for drilling including several large deep seated EM conductors which are of interest in light of the geological target of sulphide accumulations along the margins of the intrusion.
The current program will target a geophysical VTEM conductor located near an area of near surface mineralization at the Parisien Lake Deformation Zone ("PLDZ"). The VTEM targets coincide with targets generated by a ground IP survey previously completed by Mustang but which were not previously drilled. Maximum metal concentrations noted in Open File Report 5849 collected from forty-three select grab samples of sulphide mineralization from surface exposures at the PLDZ contained maximum 2890 ppb Palladium, 1060 ppb Platinum, 860 ppb Gold, 14.5% copper and 1.6% nickel.
Multiple meter scale bands of disseminated mineralization were encountered in the second hole of the present drill program. Also present in the core was net textured sulphides and a meter of massive sulphide. Assays will be reported as soon as possible from the program. Additional information about East Bull and photographs of the mineralized drill core are available at www.mustangminerals.com.
Rationale
Mustang views the East Bull Lake Property as a high potential property for platinum group metals, nickel and copper. This view is based on academic work completed on the East Bull Lake Property by the Ontario Geological Survey, exploration results demonstrating a well mineralized layered intrusion and interest in the property from major mining companies in the past.
A recently completed VTM airborne geophysical survey has identified new drill targets within the intrusion that could represent the accumulation of massive sulphides along the margins of the intrusion. Mustang is of the view these high potential targets should be drill tested as they are part of a series of broad VTEM conductors that could possibly represent semi-massive to massive sulphide accumulations along the margins of the intrusion.
After completion of exploration drilling targeting the near surface target at the PLDZ Mustang intends to find a joint venture partner to fund a significant drill program to test the deeper targets at East Bull.
Mustang's priority both for project development and exploration remains its Manitoba properties notably the Maskwa Nickel Project where a prefeasibility study has recently been released. Drill results from several "blue sky" exploration holes at Maskwa are pending.
Carey Galeschuk P. Geo is the Qualified Person for Mustang Minerals Corp. for purposes of National Instrument 43-101. Joerg Kleinboeck P.Geo., a consultant with Caracle Creek International Consulting Inc., will be supervising the drilling program.
To find out more about Mustang Minerals Corp. (TSX-V:MUM)
visit our website at www.mustangminerals.com or contact:
David Black, Investor Relations
Telephone 416-955-4773 email: info@mustangminerals.com
We seek safe harbour.
This news release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and forward-looking information within the meaning of the Securities Act (Ontario) (together, "forward-looking statements"). Such forward-looking statements may include the Company's plans for its mineral projects in Manitoba, the overall economic potential of its properties, the availability of adequate financing and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements expressed or implied by such forward-looking statements to be materially different. Such factors include, among others, risks and uncertainties relating to potential political risk, uncertainty of production and capital costs estimates and the potential for unexpected costs and expenses, physical risks inherent in mining operations, currency fluctuations, fluctuations in the price of nickel and other metals, completion of economic evaluations, changes in project parameters as plans continue to be refined, the inability or failure to obtain adequate financing on a timely basis, and other risks and uncertainties, including those described in the Company's Management Discussion and Analysis for the nine month period ended September 30, 2006 and Material Change Reports filed with the Canadian Securities Administrators and available at www.sedar.com.
This news release used the terms "indicated resources" and "measured resources ". The Company advises investors that although these terms are recognized and required by Canadian securities regulations (under National Instrument 43-101 "Standards of Disclosures for Mineral Projects"), the US Securities and Exchange Commission does not recognize these terms. Investors are cautioned not to assume that any part or all of the mineral deposits in these categories will ever be converted into reserves and be economically feasible.
Shares Outstanding: 72,407,427
The TSX Venture Exchange has not reviewed and does not accept responsibility for the contents of this press release.
CONTACT INFORMATION:
Mustang Minerals Corp.
David Black
Investor Relations
(416) 955-4773
Email: info@mustangminerals.com
Website: www.mustangminerals.com
INDUSTRY: Manufacturing and Production - Mining and Metals
was macht alle so skeptisch? waren doch wieder so viele shorties dabei dass der kurs wieder 10ct. verloren hat seit donnerstag?
was meint ihr? geht die reise wieder in richtung 20ct.? oder erleben wir eher wieder nen rebound auf 40ct.?
nerven wie drahtseile sind derzeit sehr angesagt ;-)
wer ist denn überhaupt von euch noch im boot? wieder alles still geworden seit donnerstag!
By Marc Zienkiewicz
Friday May 16, 2008
Things look better than ever for Mustang Minerals.
The exploration company has commissioned a full feasibility study of its Maskwa property near Lac du Bonnet, after the company announced major success last week with its preliminary study.
Along with the full feasibility study, the company will apply for a mine permit for its Maskwa site, located near Bird River.
“We’ve gotten over a big hurdle, that’s for sure,” Mustang Minerals investor relations manager David Black told the Leader. “We’re all very excited.”
The prefeasibility study was commissioned in March of 2007, and conducted by Wardrop Engineering. It involved the determination of ore mining and treatment methods, refinement of the open pit plan, geotechnical data collection, review of the infrastructure requirements, and development of operating plans.
“The prefeasibility study outlines important progress made to date on the mine development and highlights the potential for Maskwa to be a low cash cost producer of nickel,” Mustang president Robin Dunbar said.
The full feasibility study will now move beyond the planning stage and look at the economics of developing a full-scale mine at the site. The proposed project is a 2,750 tonnes per-day open pit mine and milling operation producing an average of 9.2 million pounds of nickel per year in concentrate. Other minerals that would be mined include platinum, copper and cobalt.
Along with the mine permit application comes a public consultation process, meaning officials from Mustang Minerals will be busy soliciting feedback from the public regarding the development of a full-scale open pit mine.
If it goes ahead, it won’t be the first time a mine has been developed at the site. The Maskwa property was developed into an open-pit mine in the 1960s, but was shut down in the 70s and left mostly dormant until Mustang Minerals purchased it in May of 2004.
Black said Mustang is looking at a roughly two-year timeline before the full feasibility and public consultation stages are done.
“It looks very promising. It’s great to be able to really start pulling everything together,” he said.
mein einstiegskurs waren 0,61€ *HEUL*
aber ich habe ja die nerven wie drahtseile ;-)
würd auch gern den durschnittserwerbskurs drücken aber 's giro sagt bei mir auxch nein. ;-)
2009/2010 wirds bei einigen explorern richtig scharf gehen. langsam kommt ja auch wieder vertrauen in den rohstoffsektor. -> siehe forsys metals z.b. oder auch first majestic silver. beide sehr vielversprechende investments
p.s.: keine kaufempfehlung!
Mustang Drills New Nickel Horizon with 487.2 Meters at 0.24% Nickel Drillhole Intercepts 3.8% Nickel
TORONTO, ONTARIO--(Marketwire - June 11, 2008) - Mustang Minerals Corp. (TSX VENTURE:MUM)(FRANKFURT:NJF) today announced a significant new drill intercept at the Maskwa Nickel Project. Drillhole MM08-128 was drilled in a new exploration horizon (the Southern Horizon) near the proposed Maskwa pit shell. Within a mineralized envelope of 487.2 meters assaying 0.24% nickel and 115 ppb pgm the interval contained multiple zones of nickel mineralization. Notably, the exploration hole intersected 29.7 meters (97.4 feet) at 0.30% nickel, 283 ppb pgm, and 0.02% cobalt near surface and 0.83 meters (2.7 feet) grading 3.88% nickel, 1000 ppb pgm and 0.19% cobalt from 348.3 meters downhole. Numerous zones of nickel and PGM mineralization were encountered throughout the entire length of the drill hole, as well as smaller high grade sections.
The results have positive implications for
1) significant expansion of the proposed open pit resources at Maskwa and
2) the potential delineation of high grade nickel sulfide resource at the project.
MM08-128 was collared to the south at 45 degrees. Results are as follows:
--------------------------------------------------
Drill
Hole From To Interval Nickel (Pt-Pd-Au) Cobalt
MM08-128 (m) (m) (m) % ppb %
--------------------------------------------------
17.83 505.05 487.22 0.24 115 0.013
--------------------------------------------------
Subintervals are:
--------------------------------------------------
17.83 47.55 29.72 0.30 283 0.02
--------------------------------------------------
Including 33.77 35.97 2.20 0.62 718 0.03
--------------------------------------------------
And 50.90 69.19 18.29 0.21 300 0.01
--------------------------------------------------
And 74.98 81.38 6.40 0.43 185 0.03
--------------------------------------------------
Including 75.62 75.83 0.21 3.38 86 0.02
--------------------------------------------------
And 84.43 91.14 6.71 0.34 223 0.02
--------------------------------------------------
And 99.67 127.10 27.43 0.28 178 0.02
--------------------------------------------------
Including 113.39 119.48 6.09 0.32 208 0.02
--------------------------------------------------
And 133.2 156.06 22.86 0.28 214 0.02
--------------------------------------------------
Including 146.3 148.44 2.14 0.38 306 0.02
--------------------------------------------------
And 159.11 171.05 11.94 0.24 181 0.01
--------------------------------------------------
And 175.56 181.66 6.10 0.27 206 0.01
--------------------------------------------------
And 184.25 200.25 16.00 0.26 152 0.01
--------------------------------------------------
And 203.30 245.97 42.67 0.25 75 0.01
--------------------------------------------------
Including 225.67 225.95 0.28 0.90 110 0.06
--------------------------------------------------
Including 228.72 229.00 0.28 1.88 340 0.15
--------------------------------------------------
And 348.29 352.04 3.75 1.14 281 0.06
--------------------------------------------------
Including 348.29 349.12 0.83 3.88 1000 0.19
--------------------------------------------------
Intervals are apparent width. m equals meter ppb equals parts per billion
MM08-128 was drilled 500 meters to the east of the proposed Maskwa open pit defined in the recent National Instrument 43-101 prefeasibility study. It tested a broad flat lying ground loop EM conductor from a survey completed in 1998 by a previous company. The conductor has an interpreted strike length of over two kilometers. The horizon has not been previously drill tested by Mustang. MM08-129 was drilled 200 meters to the east and further south of MM08-128. It was angled 45 degrees to the south and intersected several zones of mineralization starting at surface. It is interpreted that MM08-129 may have been drilled too far to the south to intersect the entire zone noted in MM08-128.
Following are the results from MM08-129:
--------------------------------------------------
Drill
Hole From To Interval Nickel (Pt-Pd-Au) Cobalt
MM08-129 (m) (m) (m) % ppb %
--------------------------------------------------
17.5 180.4 162.9 0.23 113 0.01
--------------------------------------------------
Subintervals are:
--------------------------------------------------
Including 17.5 20.4 2.9 0.35 405 0.02
--------------------------------------------------
And 23.1 46.0 22.9 0.25 176 0.02
--------------------------------------------------
And 57.0 61.6 4.6 0.28 199 0.02
--------------------------------------------------
And 73.8 87.4 13.6 0.27 159 0.01
--------------------------------------------------
And 96.1 122.2 26.1 0.24 53 0.01
--------------------------------------------------
Intervals are apparent width. m equals meter ppb equals parts per billion
The stratigraphy and mineralization encountered are similar to recent Mustang hole MM08-112 drilled 1.5 km to the west (see Mustang press release dated April 22, 2008). Assay results from several additional holes recently drilled by Mustang to test the Southern Horizon west of the Maskwa are pending. A map of the recently drilled holes is posted at http://www.mustangminerals.com/newmap.html.
Field mapping by Mustang geological crews have identified the horizon further to the east, as noted in historical assessment reports. The Southern Horizon is hosted by the Bird River sill and has been mapped intermittently for 7 kilometers on Mustang Minerals property. Historical exploration work on the Southern Horizon was primarily focused on chrome - pgm as opposed to nickel.
"We are looking for additional resource to add to our Proven and Probable open pit reserve of 7.11 million tonnes grading 0.64% nickel and other credits" said Robin Dunbar, President of Mustang. We are encouraged by these new exploration results at Maskwa in close proximity to our proposed open pit project" he added. " The Southern Horizon in the area of MM08-128 is now a high priority for follow up drilling. The Maskwa Property is now demonstrating potential for significantly larger tonnage open pit nickel-pgm sulfide resource and zones of higher grade mineralization." "It is also important to note that the project is located in an area of excellent infrastructure and low cost power."
Drill Program Update
In addition to exploration drill results from the Southern Horizon additional assays are pending from drilling in other areas of the Maskwa Property. These include:
1) Resource drilling to the east of Maskwa targeting an eastern extension of the pit resource (MM08-119 to MM08-123)
2) Resource drilling to further define the hangingwall at Maskwa and to the main resource to depth (MM08-130 to MM08-135)
3) Additional drill holes into the Southern Horizon (MM08-124, 126,127, 108)
4) Remaining exploration holes drilled to test the West Maskwa Horizon.
Results are also pending from an exploration phase drill program at the East Bull Lake Property west of Sudbury, Ontario.
QA/QC
The drill core from the drill program was processed and assayed at TSL Labs in Saskatoon, Saskatchewan. The core was split at the Maskwa site and a split of all the samples were retained as the other half was sent to the laboratory. Mustang Minerals carries out a QA/QC program on all its drill holes including the insertion of standards and blanks.
Carey Galeschuk P.Geo. is the Qualified Person for Mustang Minerals Corp. for the purposes of National Instrument 43-101.
To find out more about Mustang Minerals Corp. (TSX-V: MUM) visit our website at www.mustangminerals.com.
This news release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and forward-looking information within the meaning of the Securities Act (Ontario) (together, "forward-looking statements"). Such forward-looking statements may include the Company's plans for its mineral projects in Manitoba, the overall economic potential of its properties, the availability of adequate financing and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements expressed or implied by such forward-looking statements to be materially different. Such factors include, among others, risks and uncertainties relating to potential political risks involving the Company's operations, uncertainty of production and costs estimates and the potential for unexpected costs and expenses, physical risks inherent in mining operations, currency fluctuations, fluctuations in the price of nickel and other metals, completion of economic evaluations, changes in project parametres as plans continue to be refined, the inability or failure to obtain adequate financing on a timely basis, and other risks and uncertainties, including those described in the Company's Management Discussion and Analysis for the year ended December 31, 2007 and thereafter and Material Change Reports filed with the Canadian Securities Administrators and available at www.sedar.com.
Shares Outstanding: 72,407,427
The TSX Venture Exchange has not reviewed and does not accept responsibility for the contents of this press release.
CONTACT INFORMATION:
Mustang Minerals Corp.
David Black
Investor Relations
(416) 955-4773
Email: info@mustangminerals.com
Website: www.mustangminerals.com
INDUSTRY: Manufacturing and Production - Mining and Metals
Thursday June 26, 1:00 am ET
TORONTO, ONTARIO--(Marketwire - June 26, 2008) - Mustang Minerals Corp., (TSX VENTURE:MUM - News; FRANKFURT:NJF - News) today announced it has filed at www.sedar.com the National Instrument 43-101 prefeasibility study completed for the Company's Maskwa Nickel Project The study was compiled by Micon International Limited with Met-Chem Canada Inc, Wardrop Engineering Inc and Golder Associates. The proposed project envisages a 2,750 tonnes per day open pit mine and milling operation producing an average of 9.2 million (payable) pounds of nickel per year in concentrate and other credits including platinum group metals, copper and cobalt. The project is located approximately 140 km northeast of Winnipeg in Manitoba, Canada, a favourable political jurisdiction with low hydroelectric power rates and established infrastructure. Standard grinding and flotation techniques will be utilized to produce a nickel concentrate.
Micon concluded that "the Maskwa Project contains an economic mineral reserve and warrants continued development to the full feasibility stage."
"The prefeasibility study of the Maskwa Project is a significant milestone towards the re-establishment of a mining operation at the Maskwa site" said Robin Dunbar President of Mustang. "The prefeasibility study indicates that the planned operation at Maskwa has the potential to be a profitable low cost producer of nickel and other by-product metals. Using the assumptions outlined in the prefeasibility study the project will have an attractive cash cost net of credits of CDN $2.77 per pound over its life. We are moving ahead on all fronts at Maskwa to complete feasibility level studies and permitting required for the project".
Using nickel prices per pound of US $10 for the first two years and US$8 per pound thereafter the project assumed that open pit ore would be mined, milled and a concentrate produced for shipment to a Sudbury smelter. The undiscounted pre-tax operating profit generated by the project was CDN$285 million with single peak year earnings of CDN$ 63 million.
Feasibility Underway at Maskwa Project
Mustang is now moving forward aggressively with a feasibility study and permitting activities for the Maskwa Project. Key activities are as follows:
1. Metallurgical Testwork - A feasibility level metallurgical test work program has been initiated by Mustang engaging the services of Xstrata Process Support. The overall feasibility metallurgical program will expand on the test work completed for the prefeasibility study.
2. Updated Resource Calculation - A new resource estimate incorporating additional assay data is planned for the fall of 2008. As part of an updated resource calculation Mustang has;
a) Completed a first phase in-pit sampling program Previously unassayed drill core was split, logged and assayed. All of the drill core assayed were from holes previously drilled inside the proposed Maskwa pit shell and as such is anticipated to add to the existing resource.
b) Drilled and submitted for assay an additional six holes to test for near surface and potential hangingwall mineralization inside the current pit shell.
c) Drilled an additional six drill holes to the east of the current targeting the expansion of the pit in this direction.
3. Environmental Baseline Studies and Permitting - Mustang is currently in the final stages of completing baseline environmental studies at Maskwa. First Nations and other stakeholder engagement are also planned in the coming months as part of permitting activities for the project. Wardrop Engineering Inc. is the consultant working with the Company on these issues.
Additional exploration results are currently pending for the Maskwa Property and Mustang's East Bull Lake Property.
Carey Galeschuk P. Geo and Ernie Marcotte P. Eng are the Qualified Person for Mustang Minerals Corp. for purposes of National Instrument 43-101.
Disclaimer: The Company notes that assumptions and technical inputs used in the prefeasibility study may vary for the feasibility study. As such the results of a feasibility study will vary from those of the prefeasibility study.
To find out more about Mustang Minerals Corp. (TSX-V: MUM - News) visit our website at www.mustangminerals.com.
We seek safe harbour.
This news release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and forward-looking information within the meaning of the Securities Act (Ontario) (together, "forward-looking statements"). Such forward-looking statements may include the Company's plans for its mineral projects in Manitoba, the overall economic potential of its properties, the availability of adequate financing and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements expressed or implied by such forward-looking statements to be materially different. Such factors include, among others, risks and uncertainties relating to potential political risk, uncertainty of production and capital costs estimates and the potential for unexpected costs and expenses, physical risks inherent in mining operations, currency fluctuations, fluctuations in the price of nickel and other metals, completion of economic evaluations, changes in project parameters as plans continue to be refined, the inability or failure to obtain adequate financing on a timely basis, and other risks and uncertainties, including those described in the Company's Management Discussion and Analysis for the period ended December 31, 2007 and thereafter and Material Change Reports filed with the Canadian Securities Administrators and available at www.sedar.com.
Shares Outstanding: 72,407,427
The TSX Venture Exchange has not reviewed and does not accept responsibility for the contents of this press release.
Contact:
David Black
Mustang Minerals Corp.
Investor Relations
(416) 955-4773
Email: info@mustangminerals.com
Website: www.mustangminerals.com
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Source: Mustang Minerals Corp
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