Mustang Resources Announces High Grade Drilling Intersects at Caula Project

Mustang Resources Ltd (ASX: MUS) announced good drilling results from its Caula Graphite and Vanadium Project in Mozambique.

Using diamond core drilling, Mustang drilled MODD014 in close proximity to the previous five holes drilled in 2016 (see Figure 1). Assay results from MODD014 include outstanding intersections up to 24% TGC and 1.02% V2O5 with an average grade of 14% TGC and 0.42% V2O5 over 125m from 17m downhole including:

  • 96 m downhole at 24.2% TGC
  • 52 m downhole at 23.9% TGC
  • 74m downhole at 1.02 % V2O5
  • 71m and 75m downhole at 0.98 % V2O

Mustang Resources Managing Director Dr Bernard Olivier said the latest results would strengthen the impending Resource upgrade at Caula.

“Caula goes from strength to strength, as these new results show,” Dr Olivier said. “We have very high graphite grades, substantial widths and a very significant proportion of large and jumbo flake sizes.

“Now, in addition to the outstanding graphite mineralisation, we are establishing the presence of substantial vanadium mineralisation.

“We look forward to updating the graphite Resource and including a maiden Resource estimate for the vanadium.

“This will in turn form part of the Concept Study now underway at Caula.”


The advice given by Kalkine Pty Ltd and provided on this website is general information only and it does not take into account your investment objectives, financial situation or needs. You should therefore consider whether the advice is appropriate to your investment objectives, financial situation and needs before acting upon it. You should seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice) as necessary before acting on any advice. Not all investments are appropriate for all people. and associated websites are published by Kalkine Pty Ltd ABN 34 154 808 312 (Australian Financial Services License Number 425376). The information on this website has been prepared from a wide variety of sources, which Kalkine Pty Ltd, to the best of its knowledge and belief, considers accurate. You should make your own enquiries about any investments and we strongly suggest you seek advice before acting upon any recommendation. Kalkine Pty Ltd has made every effort to ensure the reliability of information contained in its newsletters and websites. All information represents our views at the date of publication and may change without notice. To the extent permitted by law, Kalkine Pty Ltd excludes all liability for any loss or damage arising from the use of this website and any information published (including any indirect or consequential loss, any data loss or data corruption). If the law prohibits this exclusion, Kalkine Pty Ltd hereby limits its liability, to the extent permitted by law to the resupply of services. There may be a product disclosure statement or other offer document for the securities and financial products we write about in Kalkine Reports. You should obtain a copy of the product disclosure statement or offer document before making any decision about whether to acquire the security or product. The link to our Terms & Conditions has been provided please go through them and also have a read of the Financial Services Guide. On the date of publishing this report (mentioned on the website), employees and/or associates of Kalkine Pty Ltd do not hold positions in any of the stocks covered on the website. These stocks can change any time and readers of the reports should not consider these stocks as advice or recommendations.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s