Mustang Minerals Corp : Corporate Update by 24hgold

Keywords : Australia | Canada | Cobalt |


Mustang Minerals Corp.
TSX VENTURE:	MUM
FRANKFURT:	NJF

Other Recent News

September 9, 2011
Mustang Minerals Corp.: Corporate Update
TORONTO, ONTARIO--(Marketwire - Sept. 9, 2011) - Mustang Minerals Corp. (TSX VENTURE:MUM)(FRANKFURT:NJF) ("Mustang") today released a corporate, exploration and project development update. The Company is progressing with a feasibility study for the Makwa Nickel Project and continuing with exploration at its Mayville Property. Mayville has a NI 43-101 resource of open pit copper nickel and is the site of new platinum-palladium mineralization found at the property earlier in 2011. PGM Exploration Update The Company has now completed geological mapping and sampling over a recently cut grid area of the favourable stratigraphy hosting the PGM Zone at Mayville. Mapping has identified a heterolithic breccia prospective for copper nickel mineralization and a melagabbro prospective for PGM mineralization which extends for approximately 1 km in an east west direction. Rock chip sampling as part of the mapping program returned anomalous values in the 250 ppb range combined platinum/palladium which are similar values to those seen peripheral to the higher grade PGM intercepts in drill core announced earlier in the year. Data from the geological mapping program is currently being integrated with the geophysical programs completed over the area. The Company will soon receive results of a geochemical (tree bark and humus) orientation survey recently completed over the PGM and Mayville zones. Contingent on results this program will be expanded to be completed over the PGM Zone favourable stratigraphy. Future drilling for PGM is expected to focus along the general trend of the favourable stratigraphy now outlined. The Company drilled three widely spaced drill holes at the Road Anomaly which is 620 meters to the east of the PGM Zone. Drilling intercepted barren disseminated and massive sulfides in a different stratigraphic package than that hosting the PGM Zone. This area was drilled first due to its accessibility from road infrastructure. Makwa Feasibility Study The Company has completed the purchase of the Bouchard Hebert mill equipment and will store the equipment pending the completion of the process design scope of work. The flow sheet for the mill will be designed pending the completion of the feasibility level metallurgical testwork which is being conducted at SGS Laboratories in Perth, Australia. Golder Associates is proceeding with the geotechnical scope of work for the project which is focusing on the hydrology around the proposed open pit mine. Golders has also been awarded the contract for the tailings and waste management associated with the project. Personnel The Company is pleased to announce several personnel changes. Rodger Roden has been appointed Chief Financial Officer of Mustang. Mr. Roden has many years experience at mid-size private and public companies in various financial roles. The Company thanks Mr. Alex Falconer for his tenure as CFO at Mustang. The Company also announced the appointment of Carey Galeschuk as Vice President Exploration for the Company and David Stevenson as Vice President Corporate Development. Mr. Galeschuk will be responsible for exploration and site activities in Manitoba while Mr. Stevenson will oversee all exploration and corporate development activities within the Company. Mr. Stevenson is a geologist with over 30 year's experience in grassroots to advance stage exploration properties and has held continually increasing roles of responsibilities with junior and major mining companies, most recently with MMG Canada Inc. (Minerals and Metals Group) as their Principal Geologist responsible for Ni-Cu-PGE exploration in Canada. Performance Options The Company also announced that it is issuing a total of 2.1 million incentive stock options to officers directors and employees of the Company pursuant to the existing stock option plan of the Company. The term of the options is for 5 years. The exercise price of the options are a minimum of $0.30 per share and are subject to regulatory approval. Annual Meeting - Election of Directors The Annual Meeting was held September 7, 2011 in Toronto. Gerald Harper did not stand for reelection to the Company Board of Directors. Dr. Harper was a valued member of the Mustang Board and the Company thanks him for his years of service on behalf of shareholders. QAQC All rock samples were sent to Accurassay Laboratories in Thunder Bay, Ontario. Analysis was completed for nickel, copper, cobalt and silver using an Aqua Regia digestion followed by AAS/ICP finish. For gold, platinum and palladium, fire assay of 30g aliquots followed by combination fire assay and AAS finish was employed. The tree bark and humus samples were sent to Acme Analytical Laboratories in Vancouver, British Columbia for multi-element analysis by ICP-MS method. Mustang conducts an ongoing QA/QC program including inserting blanks, duplicates and standards at regular intervals with all sample submissions to the laboratory. About Mustang Minerals In addition to conducting exploration at the Mayville Property for platinum group metals Mustang Minerals has two open pit deposits located in Southeast Manitoba. Both have excellent infrastructure. 1. The Makwa Project has a NI 43-101 reserve estimate completed in Feb. 2010 by Micon International Limited outlined 9.855 million tonnes in the Probable category containing 0.541% nickel, 0.113% copper and 0.433 g/t PGM. Work on a feasibility study is ongoing and the permitting process is beginning with operations planned to start in late 2012. 2. The Mayville Project's M2 Deposit is located approximately 35 km by road from Makwa and has a NI 43-101 Indicated Resource of 9.227 million tonnes containing 0.61% copper, 0.23% nickel and 0.174 g/t palladium. Western Areas NL, an Australian based nickel producer owns 19.9% of the common shares of Mustang. Carey Galeschuk P.Geo. is the National Instrument 43-101 Qualified Person for Mustang Minerals Corp. 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 most recent financial period and Material Change Reports filed with the Canadian Securities Administrators and available at www.sedar.com. Shares Outstanding: 157,481,174

CONTACT INFORMATION:

Mustang Minerals Corp.
David Black
Investor Relations
416-955-4773
info@mustangminerals.com
www.mustangminerals.com

INDUSTRY: Manufacturing and Production - Mining and Metals

Legends
	Production
	Mine development
	Discovery
	Exploration
	Past producer
On Google Earth, click on the button, to show property information, and access to project page or company page.

Your feedback is appreciated, please leave a comment or rate this article.
Rate :						Average note :0 (0 vote)	View Top rated

1/24/2013	Announces Completion of Additional Financing and 2013 Strate...
1/23/2012	Completes Financing With Western Areas 7500m Drill Program U...
1/6/2012	Completes Flow Through Financing
1/11/2010	Completes Private Placement
12/8/2009	Increases Private Placement Financing and Closes First Tranc...
11/6/2009	Announces Non-Brokered Private Placement

2/20/2013	(Mayville)Announces Increase to Mayville Resource
11/7/2012	(Mayville)Provides Update on Mayville Drilling
9/12/2012	(Mayville)Drilling at Mayville Property
6/14/2012	(Mayville)Intersects Higher Grade Zone of Copper-Nickel-PGM Mineraliza...
5/17/2012	(Mayville)Drilling Update-Mayville Project
6/2/2011	(Mayville)Drill Program Resumes at Mayville Property
5/5/2011	Drills 9=2E1 Meters of 3=2E9 g/t Platinum-Palladium Strike L...
4/6/2011	(Mayville)Completes Additional Holes at New PGM Zone
3/23/2011	MUSTANG MINERALS ANNOUNCES NEW PLATINUM AND PALLADIUM DISCOV...
3/22/2011	Announces New Platinum and Palladium Discovery in Manitoba
12/1/2010	(Mayville)s Exploration at Mayville/Tanco Properties
7/13/2010	(Mayville)Exploration Deal With Tantalum Mining Corporation of Canada
3/22/2010	(Makwa)Updates Project Economics at Makwa Nickel Project
2/17/2010	(Makwa)Makwa Nickel Project Update
9/1/2009	(Makwa)Advances its Maskwa Nickel Project
6/22/2009	(East Bull Lake)Western Areas-Mustang JV Commences Drilling at East Bull Lak...
3/2/2009	(Makwa)Completing Drilling at Manitoba Nickel Project
1/22/2009	(Makwa)Provides Update on Maskwa Nickel Project Feasibility Study
12/1/2008	(Makwa)Provides Update at Maskwa Nickel Project Feasibility Study
9/12/2008	(East Bull Lake)and Western Areas Sign Agreement for Joint Venture at East B...
7/3/2008	(East Bull Lake)New PGM+Ni+Cu Mineralization Drilled at East Bull Lake, Onta...
6/26/2008	(Makwa)Mustang Tables Positive Prefeasibility for Maskwa Nickel Pro...
5/12/2008	(East Bull Lake Pgm)Drilling at East Bull
5/9/2008	(Makwa) Reports Positive Results From Prefeasibility Study at Maskw...
4/23/2008	(Makwa)Tests Chromite Horizon at Maskwa Property
3/3/2008	(Makwa)Drill Update at Maskwa North and Maskwa West

10/20/2015	Board Resignation
12/10/2012	(Mayville)Extends Mayville Cu-Ni Deposit Mineralization to the East
7/17/2012	(Mayville)Drilling Extends Copper Nickel Mineralization to Depth at Ma...
3/5/2012	Provides Exploration Update Continuesto Intersect PGM Minera...
12/1/2011	(Mayville)Announces Mayville Exploration-Financing
9/9/2011	: Corporate Update
3/3/2011	(Mayville)Drills New Surface Zone of CopperNickel Mineralization at th...
4/15/2010	Expands Resources in Project Area
11/19/2009	and Sagkeeng First Nation Conclude Memorandum of Understandi...
9/18/2009	AGM, September 22
10/1/2008	Visit Our Booth This Weekend
8/5/2008	Builds Project Development Team
7/17/2008	Closing of Oversubscribed, Increased Financing
7/16/2008	Announces Increase to Brokered Financing

	RSS feed		24hGold Mobile
	Gold Data Center		Gold & Silver Converter
	Gold coins on eBay		Silver coins on eBay
	Technical Analysis		Fundamental Analysis