Low grade nickel, but easy to get to: .25 MUM
Mustang Minerals Corp (C-MUM) - News Release
Mustang's study reveals 13% Ni concentrate at Maskwa
2006-06-27 09:13 ET - News Release
Shares issued 52,600,186
MUM Close 2006-06-26 C$ 0.32
Mr. David Black reports
MUSTANG MINERALS CORP.: MASKWA NICKEL PROJECT YIELDS 13% NICKEL CONCENTRATE
Mustang Minerals Corp. has provided the results from batch flotation studies performed on a composite sample from the Maskwa nickel deposit. The report written by Frank Wright, PEng, reported that the preliminary test program produced a concentrate grade of 13 per cent nickel with suggested nickel recoveries in the range of 80 per cent to 85 per cent. The report also concluded that "the composite tested responded well to flotation" and that "the preliminary test program suggests that a marketable nickel concentrate, with acceptable nickel recoveries, can be produced at Maskwa."
The flotation studies were performed for Mustang on a single composite sample, blended from 52 samples of split drill core sections, obtained from Maskwa. Laboratory studies were performed by Process Research Associates Ltd. (PRA) of Richmond, B.C., under the direction of Mr. Wright, PEng, along with chemical analyses performed by IPL Laboratories of Richmond, B.C. The purpose of the test program was to maximize nickel recoveries and to produce a nickel sulphide concentrate suitable for direct sale to smelters. The target was to produce a concentrate of greater than 10 per cent nickel and less than 4 per cent magnesium. Flotation cleaning procedures were performed which addressed the issue of the relatively high levels of talc present in the feed. The optimized results exceeded the desired target parameters and provided concentrate grades of approximately 13 per cent nickel with a low Mg ranging from 1.5 per cent to 4 per cent. Optimized recoveries on these tests were in the 80-per-cent to 85-per-cent range. Other potential credits in the concentrate graded approximately 3 per cent copper, 0.4 per cent cobalt, 15 grams per tonne palladium and 1.5 g/t platinum.
The report concluded further work is warranted and that preliminary results need to be confirmed by locked cycle testing with further studies for variability analysis and to process optimization.
The Maskwa nickel deposit contains a National Instrument 43-101-compliant indicated and inferred nickel resource estimate completed in February, 2005, by Roscoe Postle Associates (RPA). The resource contains 78.75 million pounds of nickel and 17.06 million pounds of copper (5.23 million tonnes at 0.68 per cent nickel and 0.15 per cent copper) in the indicated, open-pit mineralization. The indicated underground resource is estimated at 790,000 tonnes at 1.11 per cent nickel and 0.14 per cent copper containing 19.31 million pounds of nickel and 2.46 million pounds of copper.
"The positive results of these significantly improved preliminary metallurgical tests is an important step forward as we look to develop the nickel resource at Maskwa," said Robin Dunbar, president of Mustang.
Mustang controls the Maskwa nickel project and an extensive and prospective land position in the Bird River greenstone belt. Currently, Mustang has engaged RPA to complete a resource estimate (the second in the project area) at the M2 zone of the Mayville property located 35 kilometres to the north of Maskwa on the north arm of the Bird River greenstone belt.
Peter Wood, PEng, is the qualified person for Mustang Minerals for the purpose of National Instrument 43-101 and has reviewed the contents of this release.
We seek Safe Harbor. |
