SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Gold/Mining/Energy : SUDBURY AREA AND THE PGM PLAY
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Just G who wrote (153)3/3/2000 11:53:00 AM
From: Just G   of 349
 
TORONTO, ONTARIO--Mustang Minerals Corp. ( "Mustang") is pleased
to report that it has intersected highly significant intercepts
of platinum group metals in drill core at its 100% owned East
Bull Lake PGM property. The holes are part of an ongoing drill
program that is testing the margin of the East Bull Lake Intrusion
for "contact style" platinum group metals mineralization.

Drill holes ME00-17, 18 and 19 were drilled in the BullFrog
Target area along the south margin of the intrusion. Holes
ME00-17 and ME00-18 were collared at a station 350 meters along
strike from hole ME00-19. Results of the 3 holes are tabulated
below:

/T/

Drill Hole From To Drill * Pt+Pd Pd Pt Rh Au Cu Ni
(m) (m) Interval +Rh+Au (g/t) (g/t) (g/t) (g/t) (%) (%)
(meters) (g/t)

-------------------------------------------------------------------------
ME 00-17 17 37 20 1.61 1.05 0.45 0.03 0.08 0.10 0.02
Includes 18 33 15 2.03 1.33 0.56 0.04 0.10 0.12 0.03
Includes 24.5 28 3.5 3.11 2.07 0.82 0.06 0.16 0.19 0.03

And 48.5 61.8 13.3 0.63 0.35 0.23 0.01 0.05 0.07 0.02

And 102.5 132 29.5 0.22 0.10 0.08 0.01 0.03 0.08 0.02

ME00-18 15 55 40 0.48 0.28 0.16 0.01 0.03 0.04 0.01
Includes 15 18 3 3.11 1.93 1.04 0.08 0.06 0.17 0.03
Includes 51 55 4 1.39 0.88 0.44 0.03 0.04 0.09 0.03

And 96.8 114.5 17.7 0.29 0.14 0.11 0.01 0.03 0.09 0.02

ME00-19 29 41 12 2.53 1.70 0.71 0.06 0.06 0.13 0.08
Includes 29 33 4 4.00 2.60 1.24 0.07 0.09 0.09 0.06
Includes 32 33 1 6.60 4.44 1.77 0.14 0.25 0.31 0.15

And 53 62 9 0.39 0.19 0.15 0.01 0.04 0.09 0.02
-------------------------------------------------------------------------
Platinum (Pt) = US$457 /oz. Palladium (Pd) = $647/oz.
Rhodium (Rh) = US$1,800/oz. (03/02/00-NY Spot Bid)

*Drill intervals noted approximate true width. Assays were
conducted at Xral Laborartories g/t = grams/tonne

/T/

The drill intercepts are considered by the Company to be highly
significant particularly in the context of the property geology.
The East Bull Lake Property covers 90% of the East Bull Lake
Intrusion. It is a layered intrusion with similar geological
attributes and metal ratios to other rift related layered
intrusions worldwide hosting economic deposits of platinum group
metals. Mustang's claims cover over 30 kilometers at the margin of
the East Bull Lake Intrusion along which platinum group metals
mineralization up to 16.4 g/t pgm+gold have been sampled at
surface. These 30 kilometers represent an extremely large and
highly prospective exploration target for deposits of platinum
group metals.

To date 17 of 18 holes drilled by Mustang at locations along 3
kilometers of the south margin of the intrusion have intersected
platinum group metals mineralization. Several holes including
ME00-16 ( 96 meters of 0.42 g/t combined Pt+Pd+gold ) and ME00-15
(65 meters of 0.60 g/t combined Pt+Pd+gold) have intersected a
broad zone of mineralization.

Holes ME00-17 to ME00-19 now show conclusively that the grade of
the mineralization is upwardly variable within the broad
mineralized zone along the margin. Multiple gram grades of
contact style platinum group metal mineralization can be
intersected over significant strike lengths and widths in the East
Bull Lake Intrusion.

VP Exploration Ken Lapierre stated that "... it is important to
remember that the "contact style" depositional model was generated
by leading Canadian geoscientists after years of research. Our
target/model at East Bull is for PGM enriched zones of contact
style mineralization along the margins of the intrusion that have
bulk tonnage open pit potential. Given the positive results to
date at this early stage we are very encouraged about the future
potential of the East Bull Lake Property."

Mustang Minerals Corp. currently has working capital of C$1.8
million. In addition to its East Bull Lake Project the company has
a C$6 million Joint Venture Agreement on its 511 claim property in
the River Valley Intrusion with Impala Platinum Holdings Limited,
the world's second largest primary producer and refiner of
platinum group metals.

The Company will be a featured presenter at the Platinum Group
Metals 2000 Symposium being held Monday March 6 at the Crowne
Plaza in Toronto commencing at 5:30 p.m. and will be exhibiting at
booth #2511 at the Investors Exchange during the PDAC from March 5
to March 8.

Drilling at the East Bull Lake Property will resume the week of
March 13, 2000.

-30-

FOR FURTHER INFORMATION PLEASE CONTACT:

Robin Dunbar - President
Ken Lapierre -Vice President
Tel: (416) 955-4773
Fax: (416) 368-1539
Email: investors@mustang-gold.com
mustang-gold.com
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News