Mustang Resources Limited (ASX: MUS) – $0.040
27 Jun 2016
Mustang Resources Limited (ASX: MUS) is scheduled to commence resource definition work during the September quarter 2016 at the Balama Graphite Project in Mozambique.
The low cost resource definition program will focus on a number of high priority targets identified within licenses 6678 and 5873 during the 2015 reverse circulation drilling program. Results from the 2015 drilling program confirm high grade intervals of up to 22% Total Graphitic Carbon (TGC) (Figure 1).
Figure 1. Sample from 2015 drilling program at Balama Graphite Project
The company’s immediate focus will be on generating near term cash flow from its Montepuez Ruby Project located in northern Mozambique.
For further information, visit www.mustangresources.com.au
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