New Energy Minerals Ltd Stock Market Press Releases and Company Profile
Quarterly Activities Report for the Period Ending 30 June 2018
Quarterly Activities Report for the Period Ending 30 June 2018

Sydney, July 31, 2018 AEST (ABN Newswire) - Mustang Resources Ltd (googlechartASX:MUS) (googlechartMTTGF:OTCMKTS) provides the Company's Quarterly Activities Report for the period ending 30 June, 2018.

HIGHLIGHTS

Caula Vanadium-Graphite Project, Mozambique

- Assay results return grades of up to 1.9% vanadium and 28.9% Total Graphitic Carbon (TGC)

- Vanadium assay results returned during the Quarter include:

o 32m @ 0.82% V2O5 including 14m @ 1.29% V2O5 (MODD018)

o 46m @ 0.39% V2O5 including 3m @ 0.67% V2O5 (MODD019)

- Graphite assay results returned during the Quarter include:

o 48m @ 17.68% TGC including 13m @ 21.5% TGC (MODD018)

o 45m@ 13.91% TGC including 7m @ 19.17% TGC (MODD019)

- Metallurgical testwork confirms exceptional quality graphite with a cumulative proportion of large to super jumbo flakes (>180?m), which increased from 44% to 60% for the combined Oxide zone, while the Fresh zone increased from 55% to 68%

- The development of a modified and improved flowsheet design, which allows for integrated vanadium and graphite extraction, producing high concentrate grades of more than 97% TGC

- Ore sorting tests conducted at TOMRA demonstrate the potential to increase production rates without increasing plant size

- Work conducted during the Quarter further demonstrate Caula's potential to become a low-cost supplier of both vanadium and graphite

Montepuez Ruby Project, Mozambique

- A total of AU$722,313 in revenue was achieved during the Quarter from sales conducted at the Chanthaburi office, Thailand, which equates to 132,194 carats of rubies at an average price of A$5.46 per carat

- Pitting and exploration activities increased to define further extensions of secondary ruby deposits, as part of exploration work associated with its planned maiden JORC resource work programme

- A total of 17,774 carats were recovered from the processing of 41,213m3 (~63,880 tonnes) of material with:

o An average grade of 0.28 carats/tonne achieved for the Quarter (33% lower than Q1 2018); and

o A total of 229,442 carats of rubies in the Company's available-for-sale inventory as at 30 June 2018

- Plant upgrades commenced in June 2018 which will increase processing capacity by 100% through the installation of an additional rotary pan, resulting in reduced processing costs and the total cost per carat

To view the full report, please visit:
http://abnnewswire.net/lnk/63P2NBI9


About New Energy Minerals Ltd

New Energy Minerals LtdNew 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.

https://twitter.com/newenergy_min abnnewswire.com 


Contact

Managing Director:
Mustang Resources Limited
Bernard Olivier
E: bernard@mustangresources.com.au
M: +61-4-08948-182

Media & Investor Relations:
Jane Morgan Management
Jane Morgan
E: jm@janemorganmanagement.com.au
T: +61-405-555-618



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