Mustang Resources
Feasibility study drilling at Caula project, August 2018. Image from Mustang Resources.

ASX-listed emerging miner Mustang Resources is underway with the feasibility study drilling programme on the flagship Caula vanadium-graphite project in northern Mozambique.

Mozambique – The drilling programme is well advanced with 3 025 m of diamond drilling and 1 050 m of reverse-circulation drilling planned for completion in the third quarter of 2018.

The purpose of the drilling programme is to expand the existing Caula vanadium and graphite JORC resources and to provide additional core samples for feasibility level metallurgical testing programmes once the scoping study has been completed in September.

Moreover, it is aimed at conducting geological, geohydrology and geotechnical studies and underpin feasibility studies for the Caula project in Q4-2018 and Q1-2019.

“This drilling programme is a significant step forward for Mustang Resources as we expect to see an expansion f the already valuable Caula resource. Samples from the drilling will be used to conduct further metallurgical test work to validate and confirm the company’s previous test work and reinforce the simplicity of the recovery process,” says Mustang Resources MD Dr. Bernard Olivier.

The 4 075 m of feasibility study diamond and reverse circulation drilling will test for both up-dip and down-dip extensions to the Caula deposit. In addition to the clear potential to define additional vanadium-graphite mineralisation immediately adjacent to the existing Caula measured resource, strong potential exists to define the high-grade vanadium-graphite mineralisation over the significantly larger project area.

The current Caula mineral resource estimate is based on 16 diamond drillholes totalling 2 233 m and one reverse circulation drillhole totalling 99 m.

Drillholes are spaced approximately 85 m apart along a 540 m strike length drilled at inclinations of between 55° and 60° from the horizontal.

The measured vanadium-graphite mineral resource totals 22 Mt at an average grade of 0.37% vanadium and 13.4% total graphite content for 81 600 t of V2O5 and 2 993 100 t of contained graphite.