Tuesday, 21 August 2018 06:52 GMT

Mustang Resources Ltd (ASX:MUS) Discovery of Significant New Ruby Deposit at Montepuez

(MENAFN - ABN Newswire) Bulk sampling, processing and sales activities set to increase in coming months
Discovery of Significant New Ruby Deposit at Montepuez Sydney, April 17, 2018 AEST (ABN Newswire) - Mustang Resources ( <>

Mustang's Managing, Director Dr. Bernard Olivier, said: "The discovery of the Block D ruby-bearing gravels and the success of our ongoing exploration activitites continue to show the significant prospectivity of the Montepuez Ruby Project. When combined with the recent initial success of our newly-implemented sales and marketing strategy, we are confident that we can continue to steadily build value around this high-quality asset - which is strategically located in the heart of the Montepuez gem-field, currently the world's leading supply source of rubies."

Note: The stated grade is conceptual in nature as there has been insufficient exploration to define a Mineral Resource. It is uncertain if further exploration will result in the determination of a Mineral Resource under the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves, the JORC Code (2012)"

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About Mustang Resources Ltd

Mustang Resources Ltd ASX:MUS

The Montepuez Ruby Project consists of three licences and now one mining concession covering 19,300 hectares directly adjacent to the world's largest ruby deposit discovered by Gemfields PLC in 2012. Since supply of rubies from sources outside Mozambique has become fractured and unreliable, Mustang stands to capitalise on the current high demand around the world for ethically produced rubies by becoming a reliable, consistent supplier of high-quality rubies.

The Company is currently fast-tracking its work program on the Montepuez Ruby Project with extensive secondary deposits discovered and low-cost bulk sampling well underway. First rough ruby sales are scheduled for 27 to 30 October 2017 in Port Louis, Republic of Mauritius under a closed bid tender of more than 350,000 cts gem quality rubies.

Visit the Mustang website at http://www.mustangresources.com.au for more information.


Mustang Resources Ltd (ASX:MUS) Discovery of Significant New Ruby Deposit at Montepuez

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