Mustang Minerals
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Aber es gibt ja noch die 30-Jahre Regel, Aktien Kaufen und 30 Jahre nicht mehr ansehen, und dann überraschen lassen. Dann tuts jedenfalls nicht mehr weh, wenn sich nix positives getan hat.
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Mustang Updates Exploration at Mayville/Tanco Properties
TORONTO, ONTARIO--(Marketwire - Dec. 1, 2010) - Mustang Minerals Corp. (TSX VENTURE:MUM)(FRANKFURT:NJF) today is pleased to provide an update on exploration activities at its Mayville and Tanco Properties located in south eastern Manitoba. The Company has engaged in field activities to generate high potential drill targets for the winter drill season. This involved following up on a historic mineralized showing on the Mayville Property and also completion of geological mapping in the area of a significant airborne EM targets on the newly acquired Tanco Property.
Tanco Property
Mustang recently acquired an option on the Tanco Property from the Tantalum Mining Corporation of Canada ("Tanco") (see announcement dated July 13, 2010). The property is located adjacent to and immediately south of Mustang Minerals Mayville Property, where Mustang has an existing open pit copper nickel platinum group metals (PGM) resource (see below). The Company recently flew a Geotech versatile time domain electromagnetic (VTEM) survey over the Property at 100 meter line spacing. The survey identified several significant geophysical anomalies.
Field crews have been working to map the property in the area of the VTEM anomalies. A gabbroic-mafic volcanic sequence of rocks has been identified in conjunction with a prominent VTEM anomaly on the Tanco ground. The interpreted contact is under cover. The geological environment is interpreted to be similar to that at the Mayville Deposit where the gabbro unit hosts copper+nickel+pgm mineralization at the volcanic contact.
The Tanco Property optioned by Mustang is located immediately south of Mustang's Mayville Property where Mustang has outlined a NI 43-101 open pit resource consisting of 9.2 million tonnes at 0.61% copper, 0.23% nickel and 0.43 g/t platinum group metals (PGM). The Mayville deposit is open along strike and at depth.
Mayville Property
The Company has continued mapping in the south east part of the Mayville Property just north of the Tanco Property. The Company has submitted samples for assay which were taken from a surface showing in the area. Samples contain disseminated chalcopyrite, pyrite and pentlandite. Assessment work filed with the Province of Manitoba indicates the showing is coincident with an anomaly from a previously completed IP survey. The samples taken are highly brecciated. Assay results are pending.
Silver Assays from Mayville Deposit
Mustang has completed assaying of samples from Mayville drillhole May05-16 to test for silver potential. The drilling completed at the Mayville Deposit in 2005 and 2006 did not include assays for silver. As recent assaying of concentrates produced from Mayville did contain appreciable silver. Mustang submitted samples for silver assays on May05-16.
On September 08, 2005 Mustang reported the following assays from May05-16.
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Intersection Width Ni Cu Co Pt+Pd+Au
Hole # (meters) (meters) (%) (%) (%) (ppb)
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May05-16 329.8-406.1 76.3 0.25 0.75 0.01 326
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Includes 341.7-375.1 33.4 0.32 1.06 0.02 463
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Includes 160.3-375.1 14.8 0.47 1.58 0.03 564
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Recent assays for silver from May05-16 returned 4.49g/t Ag over 47.3 m starting at 331.3 m. The highest grade silver assay was from this portion of the hole with 19.67 g/t Ag over 0.3m. Over the same 47.3 m interval in May05-16, analysis returned 0.25% Ni, 0.78% Cu, 0.01% Co and 469 Pt+Pd+Au.
Mustang has completed initial metallurgical tests on silver recovery from Mayville ores. The most promising test was a silver recovery of 50% from a 0.7% copper feed.
Mustang is currently planning a drill program at Mayville and Tanco to test the new targets generated by the geophysical surveys and fieldwork.
Analytical Work
The re-assays for the May05-16 hole were completed from stored sample pulps at 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. Drill core is traditionally logged and split on site at Makwa site with half the core sent to the laboratory. Mustang conducts an ongoing QA/QC program on new drill core including inserting blanks, duplicates and standards with the sample submissions to the laboratory. For the re-assay program, no QAQC samples were added by the company.
All field samples have been sent to Accurassay Laboratories in Thunder Bay Ontario. Analysis will be conducted for Au, Pt, Pd Ni, Cu, Co and Ag.
About Mustang Minerals Corp.
Mustang Minerals is exploring and developing two open pittable deposits located in southeast Manitoba. 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 0.433 g/t PGM at the Makwa Project. The Mayville Project 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 (see April 15, 2010 news release).
Carey Galeschuk P.Geo is the Qualified Person for purposes of NI 43-101 for this press release.
To find out more about Mustang Minerals Corp. (TSX VENTURE:MUM) visit our website at www.mustangminerals.com.
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: 94,598,233
CONTACT INFORMATION:
Mustang Minerals Corp.
David Black
Investor Relations
416-955-4773
info@mustangminerals.com
www.mustangminerals.com
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Mustang to Raise Funds to Complete Makwa Feasibility Study and Acquire Nickel Processing Plant
Western Areas NL to Increase Equity in Mustang and Provide Technical Expertise to Progress Makwa Towards Production
TORONTO, ONTARIO--(Marketwire - Dec. 13, 2010) - Mustang Minerals Corp. (TSX VENTURE:MUM)(FRANKFURT:NJF) ("Mustang" or the "Company") today announced plans to complete a financing for the Makwa Nickel Project located near Lac du Bonnet, Manitoba. Mustang plans to raise $6.5m through a combination of FlowThrough Shares ($2.5m) and Common Shares ($4.0m). The majority of funds to be raised are intended to be used to complete the Makwa open pit mine feasibility study and purchase a 2700 tonne per day capacity base metals concentrate plant for the Makwa Project.
Mustang is pleased to announce that Western Areas NL (TSX:WSA)(ASX:WSA) ("Western Areas") will subscribe for approximately 27% of the total funds to be raised and will thereby increase its equity in Mustang to a maximum of 19.9 %, subject to successful completion of the financing. Western Areas is currently the 3rd largest nickel producer in Australia with production from two of the world's highest grade and lowest cost underground and open pit nickel sulphide mines. Western Areas will provide Mustang with significant technical support to help bring the Makwa Project into production. This follows a comprehensive technical review of Makwa by Western Areas staff and consultants in the fall of 2010.
As part of Western Areas' increasing involvement with Mustang, Western Areas' Executive Director (Operations), Mr. Daniel Lougher, has been nominated to the Mustang board. He will join other Canadian directors and Mr. Julian Hanna, Managing Director of Western Areas, who is also on the Mustang board. Experienced mining consultant Mr. Tim Peters has been appointed as Project Manager for the Makwa Project.
Both Mustang and Western Areas believe that the Makwa Nickel Project has excellent potential to become a profitable, long life mining operation with strong exploration and production upside. The purchase of an existing concentrate plant in Canada and its planned relocation to the Makwa mine site should result in a significant saving in capital expenditure and time to bring the project into production. The main items of the feasibility study for the planned open pit mine at Makwa are well advanced and are targeted for completion in the third quarter 2011.
Mustang President Mr. Robin Dunbar commented that: "the board of Mustang is very pleased to move forward with the Makwa Project with the commitment from Western Areas to significant financial and technical support. We believe that the timing to bring on a low capital cost, low cash cost nickel sulfide project is excellent. Western Areas is a proven mine developer and a significant nickel producer whose involvement will be a strong impetus for the project to succeed".
Western Areas Managing Director Mr. Julian Hanna added; "With Western Areas' technical support and increased ownership of Mustang, we believe we can assist in advancing Makwa towards early production and provide benefits for Mustang and Western Areas' shareholders. In addition to the Makwa and Mayville deposits, Mustang controls a high quality exploration portfolio in Manitoba and Ontario with significant upside. Western Areas already has a joint venture with Mustang in the East Bull Lake intrusive complex located west of Sudbury. We are planning a major step up in activity at East Bull Lake in 2011 to test a number of areas with known nickel, copper, PGM mineralization and recently identified ZTEM conductors".
Makwa and Mayville Deposits
A NI 43-101 reserve estimate for the Makwa Project completed in February 2010 by Micon International Limited outlined 9.86 million tonnes in the Probable Ore Reserve category containing 0.541% nickel, 0.113% copper 0.433 g/t PGM at the Makwa Project. The project is expected to include relocation of a nickel concentrate plant to site and is expected to produce approximately 4,000 tonnes of nickel in concentrate per annum plus copper and platinum group metals credits. The Makwa deposit is open at depth.
In addition, Mustang has a second open pit resource in the Makwa Project area. The Mayville Project is located approximately 35 km by road from Makwa and has a NI 43-101 Indicated Resource of 9.23 million tonnes containing 0.61% copper, 0.23% nickel and 0.174 g/t palladium. Mustang is completing additional exploration at Mayville and the adjoining Tanco Property where a strong and previously undrilled VTEM conductor was announced on October 20, 2010. This new target is located in a similar geological setting to Mayville and is regarded as a high priority target for drilling in early 2011.
Financing
Mustang plans to complete a concurrent private placement of non-flow-through Common Shares and FlowThrough Shares (the "Offerings"). The Common Share Offering will be for up to $4,000,000 of Common Shares of Mustang. The Common Share Offering will be priced at $0.10 per share. Western Areas NL will subscribe for 17,822,218 Common Shares resulting in fully diluted shareholding of 19.9% in Mustang, subject to successful completion of the financing.
The Flow Through Offering will be for up to $2,500,000 of common shares issued on a flow-through basis (the "Flow-Through Shares") and will be priced at $0.125 per share. The Offerings will be made pursuant to exemptions from the prospectus requirements of the applicable securities laws. Shares issued under the Offerings will be subject to a hold period of four months and one day from date of closing.
The net proceeds from the Offerings are intended to be utilized for completion of the feasibility study, purchase of the concentrate plant and for additional exploration. Exploration is likely to be focused on the recently announced VTEM anomaly located near the Mayville mineral resource and on other known mineralized occurrences and projected extensions to the existing Mayville Deposit.
The Offerings will be distributed by way of private placement in the provinces of Ontario, Alberta, British Columbia and other such jurisdictions as the directors may determine.
Mustang will pay a cash finder's fee equal to 6.5% of the number of Common Shares and Flow-Through Shares sold by qualified registrants who participate in the Offerings and will also grant, as additional compensation, warrants equal to 6.5% of the number of Common Shares and Flow-Through Shares sold by such finders under the Offerings. Each full warrant entitles the holder to subscribe for one (1) common share at the exercise price of $0.20 for a period of 18 months after the closing date.
Completion of the Offerings are subject to regulatory approval.
Carey Galeschuk P.Geo is the Qualified Person for purposes of NI 43-101 for this press release.
To find out more about Mustang Minerals Corp. (TSX VENTURE:MUM) visit our website at www.mustangminerals.com.
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: 94,598,233
CONTACT INFORMATION:
Mustang Minerals Corp.
David Black
Investor Relations
416-955-4773
info@mustangminerals.com
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Lass die mal machen, die werden wissen was sie tun.
Mr. Meredith ist wirklich ein Fuchs, hoffentlich konzentriert er sich in Zukunft nicht nur auf Lexam-VG Gold.
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...denn irgendwann läuft es einfach und dann ist Hängematte angesagt und nicht Hinterherlaufen.
Mustang gehört schliesslich nicht zu den Spackoaktien.
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TSX VENTURE: MUM
FRANKFURT: NJF
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Other Recent News
January 7, 2011
Mustang Completes Flow-Through and Initial Hard Dollar Financing
TORONTO, ONTARIO--(Marketwire - Jan. 7, 2011) - Mustang Minerals Corp. (TSX VENTURE:MUM)(FRANKFURT:NJF) ("Mustang" or the "Company") is pleased to announce that it has completed its private placement offering of flow-through common shares and an initial closing of its private placement offering of non-flow-through common shares.
Mustang raised aggregate gross proceeds of $ 3,586,175 in respect of the placement of an aggregate of 28,689,400 flow-through common shares. Finders fees of $218,200 and a total of 1,745,601 finders warrants were paid to eligible finders in connection with the flow-through offering. Each finders warrant entitles the holder to purchase one common share of the Company at an exercise price of $0.125 per share for a period of 18 months.
Mustang also closed an initial tranche of 4,065,000 non-flow-through shares for gross proceeds of $406,500. Finders fees of $26,423 in cash and a total of 264,225 finders warrants were paid to eligible finders in connection with the non-flow-through offering. Each finders warrant entitles the holder to purchase one common share of the Company at an exercise price of $0.10 per share for a period of 18 months. All securities issued under the offerings are subject to a hold period of four months and one day.
The gross proceeds of the flow-through share offering will be used for Canadian exploration expenses (within the meaning of the Income Tax Act) which qualify as "flow-through mining expenditures" for purposes of the Income Tax Act related to the Company's mineral projects in Ontario and Manitoba, Canada. The Company will renounce such Canadian exploration expenses with an effective date of December 31, 2010. The net proceeds from the non-flow-through offering will be used for working capital purposes.
Mustang recently announced that it is proceeding with a full feasibility study at its Makwa Nickel Project located east of Winnipeg, Manitoba. Mustang also will commence exploration at its Mayville Project where the focus is copper nickel platinum group metals mineralization.
To find out more about Mustang Minerals Corp. (TSX VENTURE:MUM)(FRANKFURT:NJF) visit our website at www.mustangminerals.com.
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: 127,352,633
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Overview | Management | CEO Message | Stock Information | Sedar Filings
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Quote
Last Trade Time: 1/7/2011 15:59 EST TSX-V: MUM
Current 0.165 Open 0.130
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Change 0.030border=0 Prev. Close 0.135
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% Change 22.22% Tick Type UP
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Volume 942,950 Shares (last trade) 2,000
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Day High 0.165 52 Week High 0.165
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Day Low 0.125 52 Week Low 0.070
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Bid 0.140 Ask 0.165
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Bid Size 26,500 Ask Size 33,000
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# Trades N/A Industry Industrial Metals & Minerals
Data is delayed 20 minutes for NYSE & AMEX and delayed 15 minutes for all other exchanges.
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TSX VENTURE: MUM
Other Recent News
January 14, 2011
Mustang Completes Financing
TORONTO, ONTARIO--(Marketwire - Jan. 14, 2011) - Mustang Minerals Corp. (TSX VENTURE:MUM) ("Mustang" or the "Company") is pleased to announce that it has completed its private placement offering of common shares. Together with the previously announced financing of flow through shares, the Company issued a total of 60,000,000 common shares and raised gross proceeds of $6,717,235. Mustang is now in position to move forward with its plans to complete a feasibility study for the Makwa Nickel Project, acquire an existing nickel concentrator plant and conduct further exploration at its Manitoba properties.
In addition to the financing announcement of January 7 2011, Mustang has closed the final tranche of 27,245,600 non flow-through common shares for gross proceeds of $2,724,560. Western Areas NL subscribed for an aggregate of $1,762,322 of the common share private placement which brings its equity interest in Mustang to 19.9% of the outstanding common shares. Finders fees of $27,635 in cash and a total of 369,100 finders warrants were paid to eligible finders in connection with the current tranche of non-flow-through offering. Each finders warrant entitles the holder to purchase one common share of the Company at an exercise price of $0.10 per share for a period of 18 months. All securities issued under the offerings are subject to a hold period of four months and one day.
Company President Robin Dunbar commented that: "We are pleased to complete this financing which will enable us to move forward with both the development of the Makwa Project and our highly prospective portfolio of exploration properties. In particular we are pleased to have Western Areas NL, an operator of two nickel sulphide mines in Australia, working with us to bring the Makwa project through feasibility and into production."
Dan Lougher Joins Mustang Board
The Company is pleased to announce that Daniel Lougher has been nominated to the board of directors. Mr Lougher is the Operations Director for Western Areas NL which owns and operates two high grade nickel mines in Western Australia. Mr. Lougher has many years of operational experience in the mining sector in Australia. Mr.Lougher will fill the board seat vacated by the resignation of Mr Brian Barr. The Board welcomes Mr. Lougher while at the same time offering its thanks to Mr. Barr for his service. Mr Barr has been a director of the Company since 1998.
Owyhee Property
The Company announced that it has entered into a one year extension on its Owyhee Property Option for consideration of 120,000 common shares of the Company. Issuance of the shares are subject to regulatory approval.
About Mustang Minerals Corp.
Mustang Minerals has two open pit deposits located in southeast Manitoba. At the Makwa Project 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. The Company's Mayville Project 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.
To find out more about Mustang Minerals Corp. (TSX VENTURE:MUM) visit our website at www.mustangminerals.com.
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: 154,598,233
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
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Zumindest nicht bei Mustang ;.)
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