Mustang Resources: Further strong vanadium and graphite assays at Caula Graphite-Vanadium Project

(firmenpresse) - Mustang Resources: Further strong vanadium and graphite assays at Caula Graphite-Vanadium Project

Latest high-grade results will form part of maiden vanadium Resource and graphite Resource upgrade next quarter

Key Points

- Further high-grade assays from the final holes drilled as part of the Scoping Study on the Caula Graphite and Vanadium project (Licence 6678L)
- Assays include intersections of up to 1.9% vanadium (V2O5) and 28.9% Total Graphitic Carbon (TGC)
- The results contain multiple high-grade intersections over extensive widths, including 215m at 14.72% TGC average and 0.51% V2O5 average (MODD018)
- The latest Vanadium results include:
- 32m (at) 0.82% V2O5 including 14m (at) 1.29% V2O5 (MODD018)
- 46m (at) 0.39% V2O5 including 3m (at) 0.67% V2O5 (MODD019)
- 79m (at) 0.39% V2O5 including 6m (at) 0.55% V2O5 (MODD022)

- The latest Graphite results include:
- 48m (at) 17.68% TGC including 13m (at) 21.5% TGC (MODD018)
- 45m (at) 13.91% TGC including 7m (at) 19.17% TGC (MODD019)
- 66m (at) 15.41% TGC including 13m (at) 17.79% TGC (MODD022)

- These results will now be incorporated into the Maiden Vanadium Resource and upgraded Graphite Resource which are scheduled for release in the coming quarter

Mustang Resources Ltd (ASX: MUS; FRA:GGY) is pleased to report further strong assay results from drilling at its Caula Graphite-Vanadium Project in Mozambique.

The assays come from the final seven holes drilled as part of the Caula Scoping Study, which is scheduled for completion in the coming quarter.

The latest results contain exceptional assays of up to 1.9% vanadium (V2O5) and 28.9% Total Graphitic Carbon (TGC), as well as confirming the presence of elevated mineralisation around the anticlinal hinge.

The results also provide an important insight into the structure and controls of the vanadium-graphite mineralisation at Caula. Mustang is integrating these latest results with the existing data.

Mustang Managing Director Dr. Bernard Olivier said: These latest assays provide more strong evidence that Caula hosts extensive high-grade graphite mineralisation as well as highly promising vanadium mineralisation.

The results further highlight the potential for Caula to be a world-class, low-cost graphite and vanadium supplier to the fast-growing battery industry.

The Caula Project is located along strike from Syrah Resources (ASX: SYR) Balama graphite project in Mozambique.

Caula Infill Diamond Drilling, December 2017

The December 2017 diamond drilling campaign was designed as Resource infill and extension drilling as part of the Scoping Study for Caula. A total of 11 holes were completed for 1,421.5m with detailed logging undertaken.
http://www.irw-press.at/prcom/images/messages/2018/43833/MUS Vanadium and Graphite Assays 27062018 final ASXPRcom.001.jpeg

Figure 1. Diamond Drilling during Mustangs Scoping Study Drilling Campaign

Summary of the Drilling Results

This drilling has produced a number of exceptional shallow intersections.

Table 1. Graphite Mineralised Intersections of the remaining assays from Scoping Study Drilling Campaign
Hole IDCoordinates DipAzimutEOH Downhole Total
h Interval Graph
itic
Carbo
n

EastiNorthiFromTo Width
ng ng (m) (m) (m)

MODD0184851185634555 80 217.6 221 215 14.72
4 5 89

44 92 48 17.68
44 57 13 21.51

MODD0194851585633755 73 127.10 127.9117.910.13
2 2 96 6 6

78 123 45 13.91
82 89 7 19.17

MODD0204852185632955 62 125.51 123 72 7.64
2 1 29

63 89 26 7.66
118 123 5 15.42

MODD0224851885634655 55 161.9 132 123 13.31
1 5 29

42 108 66 15.41
95 108 13 17.79

MODD0304850285632955 93 95.57 95.5488.548.06
9 7 4

11 23 12 13.77
44 57 13 13.38

MODD0314850085634255 79 131.15.4131.0115.512.36
1 2 24 4 0 6

23 51 28 16.30
56 72 16 18.48

MODD0324850885631955 63 87.56 71 65 11.71
5 9 9

10 23 13 16.37
41 51 10 16.08

and Table 2 below outlines the mineralised intersections of graphite and vanadium, respectively.

Table 1. Graphite Mineralised Intersections of the remaining assays from Scoping Study Drilling Campaign

Hole IDCoordinates DipAzimutEOH Downhole Total
h Interval Graph
itic
Carbo
n

EastiNorthiFromTo Width
ng ng (m) (m) (m)

MODD0184851185634555 80 217.6 221 215 14.72
4 5 89

44 92 48 17.68
44 57 13 21.51

MODD0194851585633755 73 127.10 127.9117.910.13
2 2 96 6 6

78 123 45 13.91
82 89 7 19.17

MODD0204852185632955 62 125.51 123 72 7.64
2 1 29

63 89 26 7.66
118 123 5 15.42

MODD0224851885634655 55 161.9 132 123 13.31
1 5 29

42 108 66 15.41
95 108 13 17.79

MODD0304850285632955 93 95.57 95.5488.548.06
9 7 4

11 23 12 13.77
44 57 13 13.38

MODD0314850085634255 79 131.15.4131.0115.512.36
1 2 24 4 0 6

23 51 28 16.30
56 72 16 18.48

MODD0324850885631955 63 87.56 71 65 11.71
5 9 9

10 23 13 16.37
41 51 10 16.08

Figure 2 shows the locations of the diamond drill holes used to calculate the 2017 Inferred Mineral Resource as well as the locations of the drill holes with the assay results received in 2018. Figures 3 and 4, show high-grade graphitic schists in the diamond drill core from MODD018 and MODD020.

Table 2. Vanadium Mineralised Intersections of the remaining assays from Scoping Study Drilling Campaign

Hole IDCoordinates DipAzimutEOH Downhole V2O5
h Interval

EastinNorthinFromTo Width
g g (m) (m) (m)

MODD018485114856345555 80 217.86 221 215 0.47
9

183 215 32 0.75
187 201 14 1.29

MODD019485152856337255 73 127.910 127.9117.90.31
6 6 6

78 124 46 0.39
82 85 14 0.67

MODD020485212856329155 62 125.251 123 72 0.22
9

81 89 8 0.40
118 123 5 0.43

MODD022485181856346555 55 161.29 132 123 0.35
9

32 111 79 0.39
68 74 6 0.55

MODD030485029856329755 93 95.547 95.5488.540.21
183 215 32 0.35
38 48 10 0.38

MODD031485001856342255 79 131.215.4131 115.50.31
4 4 6

28 33 5 0.53
57 65 8 0.55

MODD032485085856319955 63 87.596 71 65 0.27
59 62 3 0.54
69 71 2 0.70
http://www.irw-press.at/prcom/images/messages/2018/43833/MUS Vanadium and Graphite Assays 27062018 final ASXPRcom.002.jpeg

Figure 2. Mustangs Caula Graphite & Vanadium Project, EM depicting the graphitic anomaly and the resource drilling to date.
http://www.irw-press.at/prcom/images/messages/2018/43833/MUS Vanadium and Graphite Assays 27062018 final ASXPRcom.003.jpeg

Figure 3. High grade graphitic schist in MODD018
http://www.irw-press.at/prcom/images/messages/2018/43833/MUS Vanadium and Graphite Assays 27062018 final ASXPRcom.004.jpeg

Figure 4. High grade graphitic schist from Box 27, MODD020

Mustang is currently completing its Maiden Vanadium Resource and Upgraded Graphite Resource which it expects to be released by the end of July 2018 with the Scoping Study to be completed soon after.

For and on behalf of the Board

Dr. Bernard Olivier
Managing Director

FOR FURTHER INFORMATION, PLEASE CONTACT:

Managing Director:
Bernard Olivier
bernard(at)mustangresources.com.au
+61 (0) 408 948 182
+27 (66) 4702 979

Media & Investor Relations:
Paul Armstrong
paul(at)readcorporate.com.au
+61 (0) 8 9388 1474

COMPETENT PERSONS STATEMENT:

Information in this report that relates to Exploration Targets, Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Mr Johan Erasmus, a Competent Person who is a registered member of the South African Council for Natural Scientific Professions (SACNASP) which is a Recognised Professional Organisation (RPO) included in a list posted on the ASX website. Mr Erasmus is a consultant to Sumsare Consulting, Witbank, South Africa which was engaged to undertake this work. Mr Erasmus has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined by the 2012 Edition of the Australasian Code for Reporting of Exploration Results. Mr Erasmus consents to the inclusion of the data in the form and context in which it appears.

FORWARD-LOOKING STATEMENTS:

This document may include forward-looking statements. Forward-looking statements include, but are not necessarily limited to the Companys planned exploration program and other statements that are not historic facts. When used in this document, words such as could, plan, estimate, expect, intend, may, potential, should and similar expressions are forward-looking statements. Although the Company considers that its expectations reflected in these statements are reasonable, such statements involve risks and uncertainties, and no assurance can be given that actual results will be consistent with these forward-looking statement.



APPENDIX 1 - DD DRILLHOLE SUMMARY TABLE

Hole IDWGS 84 UTM - DipAzimutEOH FromTo IntervAveragAverag
Zone h Dept (m) (m) al e TGC e
37s h (m) % V
(m) 2O5 %

EastinNorthi
g ng

MODD01848511485634555 80 217.86 19 13 15.47 0.29
5 9

19 20 1 1.29 0.28
20 25 5 16.62 0.52
25 28 3 5.78 0.48
28 30 2 26.65 36.79
30 34 4 0.92 0.10
34 37 3 19.73 0.29
37 44 7 2.87 0.12
44 63 19 20.22 0.42
63 64 1 3.95 0.25
64 78 14 14.06 0.49
78 79 1 1.93 0.11
79 84 5 23.98 0.33
84 86 2 8.31 0.26
86 92 6 20.87 0.70
92 99 7 9.07 0.32
99 112 13 18.00 0.38
112 142 30 0.05 0.01
142 165 23 15.97 0.49
165 188 23 4.19 0.42
188 220.832.89 16.14 0.78
9

Hole WGS 84 UTM DipAzimuEOH From To IntervAverageAverage
ID - Zone th Depth (m) (m)al TGC V
37s (m) (m) % 2O5 %

EastiNorthi
ng ng

MODD014851585633755 73 127.96 6.9 18 11.1 10.45 0.27
9 2 2

18 19 1 0.24 0.09
19 23 4 8.38 0.30
23 25 2 1.29 0.19
25 30 5 14.36 0.40
30 32 2 2.35 0.23
32 34 2 9.25 0.33
34 39 5 4.14 0.15
39 45 6 10.24 0.41
45 82 37 7.87 0.27
82 89 7 19.17 0.53
89 95 6 4.07 0.12
95 99 4 15.10 0.41
99 100 1 0.06 0.02
100 105 5 8.97 0.21
105 108 3 15.53 0.43
108 109 1 3.27 0.12
109 123 14 15.27 0.41
123 127.4.96 3.86 0.13
96

Hole WGS 84 UTM DipAzimuEOH From To IntervAverageAverage
ID - Zone th Depth (m) (m)al TGC V
37s (m) (m) % 2O5 %

EastiNorthi
ng ng

MODD024852185632955 62 125.29 48 51 3 1.25 0.09
0 2 1

51 57 6 15.77 0.35
57 63 6 5.40 0.16
63 95 32 9.83 0.24
95 98 3 1.26 0.03
98 114 16 10.57 0.18
114 118 4 1.14 0.03
118 123 5 15.42 0.43
123 125 2 0.05 0.02

Hole WGS 84 UTM DipAzimuEOH From To IntervAverageAverage
ID - Zone th Depth (m) (m)al TGC V
37s (m) (m) % 2O5 %

EastiNorthi
ng ng

MODD024851885634655 55 161.29 22 23 1 14.21 0.40
2 1 5

23 24 1 0.05 0.09
24 34 10 16.43 0.32
34 38 4 1.77 0.21
38 41 3 14.08 0.60
41 42 1 1.67 0.51
42 66 24 15.52 0.41
66 67 1 2.83 0.16
67 78 11 15.92 0.43
78 79 1 5.09 0.08
79 93 14 15.90 0.40
93 94 1 0.41 0.02
94 110 16 16.17 0.38
110 116 6 6.02 0.22
116 132 16 9.71 0.26
132 133 1 0.21 0.03

Hole WGS 84 UTM DipAzimuEOH From To IntervAverageAverage
ID - Zone th Depth (m) (m)al TGC V
37s (m) (m) % 2O5 %

EastiNorthi
ng ng

MODD034850285632955 93 95.54 7 20 13 14.16 0.33
0 9 7

20 21 1 3.88 0.42
21 25 4 12.26 0.25
25 27 2 2.58 0.12
27 35 8 13.30 0.31
35 42 7 3.44 0.27
42 49 7 12.03 0.34
49 51 2 4.41 0.22
51 57 6 15.77 0.29
57 60 3 3.64 0.33
60 61 1 19.30 0.35
61 62 1 5.09 0.14
62 65 3 12.27 0.30
65 95.530.54 3.09 0.09
4

Hole WGS 84 UTM DipAzimuEOH From To IntervAverageAverage
ID - Zone th Depth (m) (m)al TGC V
37s (m) (m) % 2O5 %

EastiNorthi
ng ng

MODD034850085634255 79 131.24 15.4423 7.56 9.98 0.27
1 1 2

23 30 7 17.49 0.42
30 31 1 1.23 0.63
31 33 2 18.25 0.40
33 36 3 6.37 0.09
36 48 12 22.67 0.35
48 49 1 2.37 0.06
49 51 2 17.25 0.27
51 56 5 6.14 0.18
56 90 34 16.51 0.41
90 94 4 0.30 0.02
94 100 6 12.96 0.37
100 101 1 0.69 0.03
101 121 20 7.89 0.17
121 124 3 2.48 0.09
124 131.7.24 12.53 0.30
24


Hole ID WGS 84 UTM - DipAzimutEOH FromTo InterAveragAverag
Zone h Depth (m) (mval e TGC e
37s (m) ) (m) % V2O5
%

Easting Northi
ng

MODD032 485085 85631955 63 87.59 6 7 1 0.43 0.19
9

7 23 16 15.06 0.28
23 25 2 3.54 0.19
25 63 38 12.00 0.26
63 69 6 3.71 0.17
69 71 2 17.15 0.70
71 73 2 0.96 0.04







JORC CODE, 2012 EDITION - TABLE 1
APPENDIX TO GRAPHITE ANNOUNCEMENT - 27 JUNE 2018
Section 1: Sampling techniques and data.
Criteria JORC Code MUS Commentary
Explanation

Sampling -Nature and 2015 Field Program
techniqu quality of Samples have been taken from a
es sampling Reverse Circulation (RC)
(
eg cut drillhole (MORC004) which was
channels, drilled by Mitchell Drilling, an
random chips, Australian company with a regional
or specific presence in Mozambique. Reverse
specialised circulation drilling was used to
industry collect 1m samples (roughly 35kg)
standard by an air cyclone which was reduced
measurement to a 3kg sample by riffling. The
tools
appropriate to drillhole collar location was
the minerals generated based on results from a
under recently flown airborne
investigation,
such as down SkyTEM EM survey (refer to previous
MUS ASX
hole gamma sonde announcements).
s
, or handheld A total of 77 intervals from RC drill
XRF hole
instruments, MORC-004 were selected for
sampling.
etc). These
examples
should not be Drillhole intervals were selected
taken as for sampling based on geological
limiting the logging and samples showing no
broad meaning clear evidence of graphite
of mineralisation have been excluded
sampling. (except 1m into barren zones) from
the analysis completed by SGS
-Include Randfontein, an accredited
reference to laboratory.
measures taken
to ensure The samples were riffle split on a
sample 50:50 basis, with one split
pulverised and analysed for Total
representivity a Graphitic Carbon (TGC), Total
nd the Carbon (TC) and Total Sulphur (TS)
appropriate using a
calibration of
any Leco Furnace, and the remaining
measurement split held in
tools or storage.
systems
used.
2016 Field Program
-Aspects of Five cored boreholes were drilled as
the part of the 2016 field program for
determination the
of
mineralisation Caula deposit. The diamond drilling
that are (DD) was completed using a
Material to
the Public Boart Longyear LF 90 drill-rig and
Report. In the core was recovered with HQ
cases where (III) equipment. The contractor
industry used for the 2016 drill program is
standard work Major Drilling Group International,
has been done a Canadian-based operation with a
this would be local presence in Mozambique.
relatively
simple
( · Drillhole collar locations were
egreverse circu generated based on results from a
lation drilling flown airborne
was used to
obtain 1 m SkyTEM EM survey which was completed
samples from during 2015 (refer to previous MUS
which 3 kg was ASX
pulverised to announcements).
produce a 30 g
charge for · Sampling is of HQ (III) DD core. A
fire assay). total of 298m of mineralisation
In other cases were sampled over five DD
more boreholes. One DD hole (MOD004)
explanation have been twinned with an existing
may be RC hole (MORC004) for lithology and
required, such grade verification.
as where there
is coarse gold
that has · The core is photographed in
inherent sequence as the core is packed into
sampling the core trays at the drill
problems. site.
Unusual
commodities or · The recovered DD core is cut
mineralisation lengthwise with a core splitting
types saw to produce 1m samples. Where
( lithological boundaries did not fit
eg submarine the 1m geometry or at end of
nodules) may
warrant hole sampling, the sample length was
disclosure of to be a minimum of 0.42m or a
detailed maximum of 1.68m.
information.

· Core is halved for normal
analyses. In the case of duplicate
analyses (1 in 20), the core is
quartered. In total 933kg of sample
(Including duplicates) was taken
over 296 samples for chemical
analyses.


· The remaining core is halved in
the mineralised zones to provide a
quartered sample for metallurgical
analysis. In total 334kg of sample
over 296 samples was taken for
metallurgical

testwork.
· The remaining quarters and halves
are retained in stratigraphic
sequence in the core trays. The
remaining core has been
photographed, and the trays wrapped
in cling-film, before it was put in
container storage on site at the
Mustang camp outside

Montepuez.
· Samples were submitted for LECO
analyses. Mineralised zone core as
well as 1m boundaries into
non-mineralised zone core were
submitted for
analysis.

· Initial metallurgical analysis and
flow-sheet

testwork was performed on 2
composited samples. The sampling
was split between the oxidised and
fresh mineralised
zones.



2017 Field Program
Eleven cored boreholes were drilled
as part of the 2017 field program
for the

Caula deposit. The diamond drilling
(DD) was completed using

Boart Longyear LF 90 drill-rigs and
the core was recovered with PQ
(III) and HQ (III) equipment. The
contractor used for the 2017 drill
program is Major Drilling Group
International, a Canadian based
operation with a

local presence in Mozambique.
· Drillhole collar locations were
generated based on results from a
flown airborne

SkyTEM EM survey which was completed
during 2015 (refer to previous MUS
ASX announcements), and from the
2016 core drilling
program.

· Sampling is of PQ (III) and HQ
(III) DD core. Sampling

has been completed.
· The core is photographed in
sequence as the core is packed into
the core trays at the drill
site.

· The recovered DD core is cut
lengthwise with a core splitting
saw to produce 1 m samples. Where
lithological boundaries did not fit
the 1m geometry or at end of

hole sampling, the sample length was
to be a minimum of 0.50m or a
maximum of 2.00m.


· Core is halved for normal
analyses. In the case of duplicate
analyses (1 in 20), the core is
quartered.


· The remaining core is halved in
the mineralised zones to provide a
quartered sample for metallurgical
analysis.

· The remaining quarters and halves
are retained in stratigraphic
sequence in the
core
trays. The remaining core has been
photographed, and the trays wrapped
in cling-film, before it is put in
container storage on site at the
Mustang camp outside

Montepuez.
· Samples were submitted for LECO
analyses. Mineralised zone core as
well as 1 m boundaries into
non-mineralised zone core

were submitted for analysis.

Drilling -Drill type (eg2015 Field Program
techniqu core, reverse Reverse circulation drilling was
es circulation, used to drill a 5.5 inch diameter
open-hole borehole (MORC004). RC drill chips
hammer, rotary were collected by an air cyclone at
air blast, 1m intervals for logging and
auger, Bangka, sampling. Approximately 35kg per
sonic, metre was collected by an air
cyclone which was reduced to a 4kg
etc) and sample by riffling.
details
(
eg core Reflex Ezy shot tools were used to
diameter, take down-hole survey measurements
triple or to record
standard tube,
depth of drillhole azimuth and dip.
diamond tails,
face-sampling 2016 Field Program
bit or other · The core drilling was completed
type, whether with a
core is
oriented and Boart Longyear LF-90 drilling rig.
if so, by what The drilling equipment was HQ (III)
method, sized.

etc).
· Drilling was planned to be as
close to perpendicular as possible
to strike, and as close as possible
to true width intersections.


· The borehole dip and azimuth was
surveyed at 3m intervals from the
bottom of the borehole with a
Reflex
EZ-
Trac tool. The maximum deviation
from the planned azimuth was
measured at
6
o in MODD003. The maximum deviation
from the planned dip was measured
at
5
o in MODD004.
· Final borehole collar positions
were surveyed with a handheld GPS
survey instrument, and the collar
elevations were projected from the
DEM as generated during the

SkyTEM survey in 2015.
· The core was oriented with a
Reflex
Tool.

2017 Field Program
· The core drilling was completed
with

Boart Longyear LF-90 drilling rigs.
The drilling equipment was PQ (III)
and HQ (III) sized.


· Drilling was planned to be as
close to perpendicular as possible
to strike, and as close as possible
to true width intersections.


· The borehole dip and azimuth was
surveyed at 3 m intervals from the
bottom of the borehole with a
Reflex
EZ-
Trac tool.
· Final borehole collar positions
were surveyed with a handheld GPS
survey instrument, and the collar
elevations were projected from the
DEM as generated during the

SkyTEM survey in 2015.
· The core was oriented with a
Reflex
Tool.

Drill -Method of 2015 Field Program
sample recording and The condition and qualitative
recovery assessing core estimates of RC sample recovery for
and chip MORC004 were determined through
sample visual inspection of the 1m sample
recoveries and bags and recorded at the time of
results sampling. A hard copy and digital
assessed. copy of the sampling log are
maintained for data verification.
-Measures
taken to
maximise Recovery has been good with 35kg +
sample being returned per metre
recovery and drilled.
ensure
representative Due to the early stage of
nature of the exploration work for the
samples.
Caula project, no relationship
-Whether a rela between sample recovery and grade
tionship exists is known to exist at this point.
between sample
recovery and
grade and
whether sample 2016 Field Program
bias may have The condition and qualitative
occurred due estimates of DD sample recovery
to were determined through visual
preferential inspection and measurement of the
loss/gain of drilling core runs and recorded at
fine/coarse the time of recovery at the drill
material. rig. A hard copy and digital copy
of the sampling log are maintained
for data verification.


· Core recovery measurements are
recorded for every
borehole.

· Where recoveries were found to be
less than 95%, the drill runs were
shortened to 1m, and drilling speed
lowered to improve recovery.


· In some instances in the oxidised
zone (faulting, jointing and severe
oxidation), core losses were
unavoidable. These losses are
recorded, and have been zero rated
in terms of grade for the

modeling of the Caula graphite
resource. The average core
recovery for the oxidised zone is
83.1%.


· Recoveries in the fresh zone were
very good at an average of
98.8%.

2017 Field Program
The condition and qualitative
estimates of DD sample recovery
were determined through visual
inspection and measurement of the
drilling core runs and recorded at
the time of recovery at the
drill-rig. A hard copy and digital
copy of the sampling log

are maintained for data
verification.


· Core recovery measurements are reco
rded for every
borehole.

· Where recoveries were found to be
less than 95%, the drill runs were
shortened to 1 m, and drilling
speed lowered to improve recovery.


· In some instances in the oxidised
zone (faulting, jointing and severe
oxidation), core losses were
unavoidable. These losses

are recorded, and have been zero
rated in terms of grade for the

modeling of the Caula graphite
resource. The average core
recovery for the oxidized zone is
91%.


· Recoveries in the fresh zone were
very good at an average of
98%.


Logging -Whether core 2015 Field Program
and chip RC drill-chip samples were
samples have geologically logged by trained
been geologists. The
geologically
and drillhole (MORC004) is considered by
MUS to be part of a maiden drill
geotechnically l program aimed at identifying
ogged to a shallow graphite mineralisation.
level of Mustang used the results from this
detail to maiden program to prioritise target
support areas, which then become the focus
appropriate of the 2016
Mineral
Resource drillhole definition programs.
estimation, Whilst the aim of this maiden drill
mining studies program was not to produce a
and Mineral Resource estimate MORC004
metallurgical was used for resource estimation
studies. purposes in this resource estimate.

-Whether
logging is Logging of RC drill holes includes
qualitative or recording of lithology, mineralogy,
quantitative mineralisation, weathering, colour
in nature. and other features of the samples.
Core (or RC Chip trays are photographed.

costean,
channel, Geological descriptions and
estimates of visual graphite
etc) percentages on preliminary logs are
photography. semi-quantitative. All

-The total drillholes were logged in full.
length and 2016 Field Program
percentage of · All holes drilled were logged in
the relevant full and sampled by the site
intersections geologists.
logged.
· All the logged information which
includes depth, lithology, mineral
assemblage, structural information,
Cg mineralisation (laboratory
data), collar survey and logging
geologists are recorded in the
field logging sheets and in digital
format.


· The recovered core is recorded in
sequence as digital
photographs.

· The analytical samples were
shipped by road to the SGS
Randfontein laboratory in South
Africa for analysis. The analyses
were completed by SGS Randfontein,
and have been used to estimate the
grade of the

Caula deposit in this CPR.
· Umpire samples have been
identified and were dispatched to
Bureau Veritas in Centurion. These
analyses have been completed and
are included in the
CPR.

· The samples for metallurgy testwork
were dispatched via South Africa to
SGS Malaga in Perth, Australia. The

testwork has been completed and
these results have been included in
this
CPR.

· The remaining core is in storage
at the Mustang Exploration Camp
near

Montepuez in Mozambique. The
remaining core is also recorded in
sequence in digital photograph
format.

2017 Field Program
· All holes drilled were logged in
full and sampled by the site
geologists.

· All the logged information which
includes depth, lithology, mineral
assemblage, structural information,
Cg mineralisation (laboratory
data), collar survey and logging
geologists

are recorded in the field logging
sheets and in
digital
format.
· The recovered core is recorded in
sequence
as
digital photographs.
· The analytical samples are to be
shipped by road to the SGS
Randfontein laboratory in South
Africa for analysis. The analyses
are to be completed by SGS
Randfontein, and will be used to
enhance the initial estimate of the
grade of the

Caula deposit in the next CPR update.
· Umpire samples have been
identified and

have been dispatched to Bureau
Veritas in
Centurion.

· The samples for metallurgy testwork

were submitted for test work once
the analytical results are
available.


The remaining core is in storage at
the Mustang Exploration Camp near

Montepuez in Mozambique. The
remaining core

was also recorded in sequence in
digital photograph
format.

Sub-sampl-If core, 2015 Field Program
ing whether cut or RC samples were collected on the rig
techniqu sawn and using riffle splitters to reduce
es and whether the sample mass from 35kg to 4kg.
sample quarter, half Sample preparation of the RC chip
preparat or all core samples follows industry best
ion taken. practice in sample preparation
involving oven drying
-If non-core, (105
whether oC), split (300g) and pulverising to
riffled, tube a grind size of 85% passing 75
sampled, micron. The sample preparation for
rotary split, RC samples follows industry best
practice.
etc and whether
sampled wet or Field QC procedures were adopted as
dry. follows:

-For all · Insertion rate for blanks - 5% (1
sample types, in
the nature, 20)
quality and
appropriateness· Insertion rate for standards - 5%
of the sample (1 in
preparation 20)
technique.
· Insertion rate for duplicates - 5%
-Quality (1 in 20)
control
procedures
adopted for · Umpire duplicates - 5% (1 in 20)
all Two CRM (GGC004 and GGC009) were
sub-sampling obtained from
stages to
maximise Geostats Pty Ltd to monitor analysis
of laboratory for graphitic carbon,
representivity o carbon and
f sulphur.
samples.
1m RC composite sampling has been
-Measures undertaken for this phase of the
taken to exploration
ensure that program.
the sampling
is
representative 2016 Field Program
of the in situ The majority of samples were moist
material (from the DD process) at recovery,
collected, with ambient temperatures
including for sufficiently high to dry the
instance oxidised core before the
results for commencement of
field sampling.
duplicate/secon
d-half Field QC procedures were adopted as
sampling. follows over and above the
laboratory internal
-Whether controls:
sample sizes
are · Insertion rate for blanks - at
appropriate to least 5% (1 in
the grain size 20)
of the
material being · Insertion rate for standards - at
sampled. least 5% (1 in
20)

· Insertion rate for duplicates -
at least 5% (1 in 20)


· Umpire duplicates - at least 5%
(1 in 20)


· Four Graphite standards (GGC008,
GGC005, GGC003 and GGC002) were
obtained from

Geostats Pty Ltd to monitor analysis
by the laboratory for graphitic
carbon, carbon and
sulphur.

As far as possible 1m DD composite
sampling has been undertaken for
this phase of the exploration
program.

· The core is split by saw and half
core is submitted for analyses
generally as 1m samples. When a
duplicate sample is submitted, the
core is
quartered.

· Mineralised samples are submitted
for LECO analyses as well as for
ICP Multi-element
analyses.

· Within the total samples
dispatched a random sequence of at
least 5% each of standards, blanks
and duplicates are included.


· Sample preparation is done by SGS
in Johannesburg, before the
prepared samples are analysed for
content
determination.

· Sampling procedure include drying,
crushing, splitting and pulverizing
ensures that 85% of the sample is
75 micron or less in size. A split
of the sample is analysed using a
LECO analyser to determine carbon
in graphite content.


· The sample procedure standards
followed are internal to SGS and
are listed
below:

· WGH 79 (Receive Sample Weight),
SCR 32 (Sample Screening), CSA01V
(Total Carbon by LECO), CSA05V
(Graphitic Carbon by LECO), CSA06V
(Sulphur by LECO).


· QC measures include the submission
of duplicate samples (5% of
samples), blanks (5% of samples)
and standards (5% of samples) over
and above the internal controls at
SGS.

· The smallest core sample dimension
after cutting is 29mm. The largest
category flake size is > 8 mesh or
2.38mm. The sample size exceeds the
target material size
comfortably.

· The metallurgical samples consist
of quartered core, sampled and
bagged generally per metre.


· Sampling for metallurgical testing
is complete, and included; Receipt
of graphite samples, Formation of
composites, Bond rod mill

grindability, Head assay, Particle
size distribution (PSD) and
fraction assay on head samples,
Rougher flotation, Rougher and
multiple re-grind and cleaner
flotation, Final concentrate PSD
and fraction
assays.

· The metallurgical composites were
batched by the laboratory
metallurgists once the results from
the initial laboratory work at SGS
Randfontein had been received.


2017 Field Program
The majority of samples were moist
(from the DD process) at recovery,
with ambient temperatures
sufficiently high to dry the
oxidised core before the
commencement of
sampling.

Field QC procedures were adopted as
follows over and above the
laboratory internal
controls:

· Insertion rate for blanks - at
least 5% (1 in
20)

· Insertion rate for standards - at
least 5% (1 in
20)

· Insertion rate for duplicates -
at least 5% (1 in 20)


· Umpire duplicates - at least 5%
(1 in 20)


· Four Graphite standards (GGC008,
GGC005, GGC003 and GGC002) were
obtained from

Geostats Pty Ltd to monitor analysis
by the laboratory for graphitic
carbon, carbon and
sulphur.

As far as possible 1m DD composite
sampling has been undertaken for
this phase of the exploration
program.

· The core is split by saw and half
core is submitted for analyses
generally as 1 m samples. When
a
duplicate sample is submitted, the
core
is
quartered.
· Mineralised samples are submitted
for LECO analyses as well
as
for ICP Multi-element analyses.
· Within the total samples
dispatched a random sequence of at
least 5% each of standards, blanks
and duplicates are included.


· Sample preparation is done by SGS
in Johannesburg, before the
prepared samples are analysed for
content
determination.
· Sampling procedure include drying,
crushing, splitting and pulverizing
ensures that 85% of the sample is
75 micron or less in size. A split
of the sample is analysed using a
LECO analyser to determine carbon
in
graphite
content.
· The sample procedure standards
followed are internal to SGS and
are listed
below:

· WGH 79 (Receive Sample Weight),
SCR 32 (Sample Screening), CSA01V
(Total Carbon by LECO), CSA05V
(Graphitic Carbon by LECO), CSA06V
(Sulphur by LECO).


· QC measures include the submission
of duplicate samples (5% of
samples), blanks (5% of samples)
and standards (5% of samples) over
and above the internal controls at
SGS.

· The smallest core sample dimension
after cutting is 29mm. The largest
category flake size is > 8 mesh or
2.38mm. The sample size exceeds the
target material size
comfortably.

· The metallurgical samples consist
of quartered core, sampled and
bagged generally per metre.


· Sampling for metallurgical testing
is complete, and included; Receipt
of graphite samples, Formation of
composites, Bond rod mill

grindability, Head assay, Particle
size distribution (PSD) and
fraction assay on head samples,
Rougher flotation, Rougher and
multiple re-grind and cleaner
flotation, Final concentrate PSD
and fraction
assays.

The metallurgical composites will be
batched
by the laboratory metallurgists
once the results from the initial
laboratory work at SGS Randfontein
had been
received.

Quality -The nature, 2015 Field Program
of quality and A total 77 samples were analysed by
assay appropriateness SGS Laboratories in South Africa
data of the for
and assaying and
laborato laboratory Total Graphitic Carbon (TGC), Total
ry procedures Carbon (TC) and Total Sulphur (TS)
tests used and using a
whether the
technique is Leco Furnace.
considered Detection limits for these analyses
partial or are considered appropriate for the
total. reported assay grades and adequate
for this phase of the exploration
-For program.
geophysical
tools,
spectrometers, No geophysical tools were used to
handheld XRF determine any element
instruments, concentrations.

etc, the The assaying and laboratory
parameters procedures used are appropriate for
used in the material
determining tested.
the analysis
including SGS carried out sample preparation
instrument checks for fineness as part of
make and

Unternehmensinformation / Kurzprofil:
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Datum: 27.06.2018 - 13:13 Uhr
Sprache: Deutsch
News-ID 577492
Anzahl Zeichen: 120222

contact information:
Town:

Wien

Kategorie:

Business News

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"Mustang Resources: Further strong vanadium and graphite assays at Caula Graphite-Vanadium Project
"
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