An Emerging Gemstone Miner in Mozambique
Investor Presentation - July 2017
Sydney, July 4, 2017 AEST (ABN Newswire) - Mustang Resources Ltd (
ASX:MUS) (GGPLF:OTCMKTS) provides the Company's latest Investor Presentation held in July 2017.
Overview: Mustang Poised For Rapid Growth
- Market Cap: ~A$24million one of only 2 listed ruby miners in the world
- Flagship Montepuez Project located next to London-listed Gemfields (AIM:GEM 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 120,000 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
Montepuez Ruby Project
- STRATEGY: Systematically build a resource base & generate significant revenue whilst doing so
o Auger drilling + bulk sample + auction/tender sales = JORC Resource
- Plant relocated in late 2016, commissioning completed in January 2017, key upgrades in April-June 2017 to deliver 250tph feed-capacity
- >1,500tpd (~328,000tpa) processing capacity from July 2017 onwards, up from ~300tpd (average) in January
- Current inventory stands at 120,000cts all sourced from initial processing of material from Alpha & LM01 deposits and rubies received from artisanal miner development program
- New high-grade and shallow ruby deposits excavated and being processed in coming months- ruby inventory expected to increase significantly
- Initial processing of material from highly prospective new deposits within licence 8245L delivering exceptional results
- Auger drilling campaign will continue with goal of estimating mine life with results of bulk sampling over next 6-12 months helping to establish average grades
Montepuez Ruby Project - New Discovery
- Initial bulk sample confirms significant new ruby discovery on recently acquired licence
- Shallow secondary deposit, with initial bulk sample of 5,692 m3 delivering 4,445 cts of gem quality rubies
- Consistent recovery of stones classed in the special/premium category
- Extensive secondary ruby mineralisation proven over 2,200m strike (open ended)
- New 35sqkm licence sits between the Montepuez processing plant and a key secondary deposit being mined by Gemfields
- Initial bulk sample pit (LM01) yielding high-quality secondary rubies
- Exploration test pitting has defined open-ended ruby mineralisation over a 2.2km extent
- Processing of 4.5 tonnes of gravel from test pits (NT01 to NT23) through mobile jigs has yielded 10.7 cts of rubies
- Auger drilling program proposed to assist in mapping the full size of the secondary ruby deposit(s) in this key target area and beyond
Montepuez Ruby Project - Milestones
- June 2017: 120,000cts inventory & New Discovery
- July 2017: Upgraded 250tph Processing Plant
- October 2017: Sale of min 200,000cts at 1st auction/tender
- H1 2018: Maiden JORC Resource
- March 2018 (est.): 2nd Rough Ruby Auction
To view the full English presentation, please visit:
http://abnnewswire.net/lnk/KA31684U
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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