Mustang releases “outstanding” results from graphite-vanadium play

Date: Jun 26, 2018

Mustang Resources Ltd (ASX:MUS) has today announced positive results from further graphite metallurgical testwork at its Caula Graphite-Vanadium Project in Mozambique.

The company consider the results of the metallurgical tests to be genuinely outstanding, having delivered a significant increase in flake size and a reduction in the costs of processing reagents.

The tests were conducted on samples of oxide, transition and fresh material taken from the area of Caula drilled in 2017.

Results of this calibre act as further indication that the Caula Project has considerable potential as a low-cost supplier to the expandable graphite and lithium battery industries. As such, the results will be incorporated into the company’s Scoping Study, which is well underway.

Mustang Managing Director Dr Bernard Olivier said of the results, “These metallurgical results are outstanding and provide further evidence of the exceptional quality of the graphite at Caula.

“We managed to achieve an extraordinary 27% increase in the cumulative proportion of large to super jumbo flakes (>180μm) while maintaining our exceptional concentrate grade of 97%. The large to super jumbo flake-sizes in the fresh zone increased from 55% to 68% while the cumulative oxide zone increased from 44% to 60%.”

MUS’s Caula Project is unique due to its high-grade, shallow mineralisation combined with the potential for excellent recovery rates, as demonstrated by today’s results. In addition, Caula contains top graphite concentrate flake-size distribution and purity, and is located along strike from Syrah Resources’ (ASX:SYR) world-class Balama graphite project in Mozambique.

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