Mustang Resources are a Mozambique-focused emerging mining company (ASX:MUS). We are currently fast-tracking the development of our two highly prospective projects: the Montepuez Ruby Project and the Caula Graphite and Vanadium Project. The two projects are located next to each other, in the Cabo Delgado Province of Northern Mozambique.
Initial testing indicates that Caula could be one of the highest-grade graphite deposits in the world, with a JORC Inferred Resource of 5.4Mt @ 13% TGC (6% cut-off grade) and a 55% share of Large and Jumbo flakes in the fresh ore. Recent drilling at the project also confirmed the presence of associated high grade vanadium (up to 1.02% V2O5).
Whilst the project is still in the feasibility stage, the test work results highlight the potential for Caula to become an important low-cost graphite and vanadium supplier to the fast-growing lithium & vanadium-redox flow batteries and expandable graphite industries. Learn More About Caula
Our Mustang Montepuez Ruby Project consists of three licenses covering 143 km2 directly adjacent to the world’s largest ruby deposit, which was discovered by Gemfields in 2012. Currently in an advanced exploration phase, the project has already yielded over 405,000 carats worth of rubies and generated >A$1.5million in initial sales.
As the supply of rubies from sources outside Mozambique has become fractured and unreliable, Mustang stands to capitalise on a proven resource and the current global demand for ethically produced gemstones, by becoming a reliable, consistent supplier of ruby and pink ruby.Learn More About Montepuez Project