Mustang Resources announces that it has discovered a new ruby-bearing gravel deposit just 3.5km from its processing plant at the Montepuez Ruby Project in Mozambique. The discovery was made during an extensive exploration and test pitting campaign undertaken at Montepuez during the March 2018 quarter which resulted in the development of 196 test pits during the period. The program has returned a host of positive results which will be followed up in the new exploration field season.
The new deposit was discovered in an area referred to as Block D, located on Licence 8955C, approximately 3.5km to the south west of the Company’s 200tph processing plant (see Figure 1 below). Mustang is further encouraged by the confirmation of ruby bearing gravels in Block A, B and C, confirming the extension of ruby mineralisation extending from the LM bulk sampling pits. Preparations have now commenced to restart the exploration bulk sampling program at Montepuez as the rainy seasons draws to an end, and the newly-identified Block D will form part of the upcoming bulk sampling program.
Preparations have now commenced to restart the exploration bulk sampling program at Montepuez as the rainy seasons draws to an end, and the newly-identified Block D will form part of the upcoming bulk sampling program.