Manitoba Mining Information

Mustang Tables Positive Prefeasibility for Maskwa Nickel Project

Mustang Minerals Corp recent achievements makes it one of very few Canadian Junior nickel company’s with a completed National Instrument 43-101 prefeasibility study. This is a very positive achievement for both the company and the Manitoba Mining industry. Mustang continues to advance its projects in well organized and detailed manner, with close attention being paid to good science and sound technical / economic evaluation.

Snippet from recent press release
TORONTO, ONTARIO, Jun 26, 2008 (Marketwire via COMTEX News Network) –Mustang Minerals Corp., (TSX VENTURE:MUM)(FRANKFURT:NJF) today announced it has filed at www.sedar.com the National Instrument 43-101 prefeasibility study completed for the Company’s Maskwa Nickel Project The study was compiled by Micon International Limited with Met-Chem Canada Inc, Wardrop Engineering Inc and Golder Associates. The proposed project envisages a 2,750 tonnes per day open pit mine and milling operation producing an average of 9.2 million (payable) pounds of nickel per year in concentrate and other credits including platinum group metals, copper and cobalt. The project is located approximately 140 km northeast of Winnipeg in Manitoba, Canada, a favourable political jurisdiction with low hydroelectric power rates and established infrastructure. Standard grinding and flotation techniques will be utilized to produce a nickel concentrate.

Micon concluded that “the Maskwa Project contains an economic mineral reserve and warrants continued development to the full feasibility stage.”

“The prefeasibility study of the Maskwa Project is a significant milestone towards the re-establishment of a mining operation at the Maskwa site” said Robin Dunbar President of Mustang. “The prefeasibility study indicates that the planned operation at Maskwa has the potential to be a profitable low cost producer of nickel and other by-product metals. Using the assumptions outlined in the prefeasibility study the project will have an attractive cash cost net of credits of CDN $2.77 per pound over its life. We are moving ahead on all fronts at Maskwa to complete feasibility level studies and permitting required for the project”.

Mustang is now moving forward aggressively with a feasibility study and permitting activities for the Maskwa Project.
Full Story At Mustang Minerals Website

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Halo mine has more zinc and copper than first thought

June 30 2008

Canadian base metals and gold miner Halo Resources said that it has discovered more zinc and copper deposits at its Sherridon Bob Lake mine than originally thought.

Halo Resources said that its drilling at the Manitoba based mine uncovered a major massive sulphide deposit with widths of over 75 meters and a thickness ranging from 5 to 33 meters, extending about 1,000 meters from the surface.

Mr Lynda Bloom CEO of Halo said that “The Bob Lake massive sulphide lens has shown remarkable consistency in grade and continuity but previously the best Halo intersection was 1.7% copper and 1.5% zinc over 16.4 meters. This latest intersection is twice as thick and has a core of 10.4 m grading 1.9% copper and 2% zinc.”

Mr Bloom added that the area’s shallow plunge means a large part of the deposit is fewer than 200 m below the surface and can likely be extracted via open pit mining.

Halo Resources Website 

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New Gold Exploration Model Pays Off

In a recent Winnipeg Free Press story Hugh Wynne chairman of San Gold Corporation is quoted as saying that “everybody in the gold business” seems to be taken up with mergers and acquisitions as the way to boost inventory. The result, has been very little exploration.”Personally, I think it’s a big mistake,”  “What we believe in is going out and finding more gold. That’s the way to grow.” San Gold has been “extremely successful” in doing that, adding a million ounces to its known reserves in under two years. And it expects to add significantly to that soon.

Bill Ferreira an exploration geologist at San Gold came up with a new model and theory as to where gold deposits were likely concentrated. For decades all the gold was thought to occur in a particular rock type, and prevailing geological theories prevented exploration of other rock types in the area. The company started testing that theory in October and drilled at least a dozen holes without success. But then they finally hit on the one hole and then started following that up and it’s been nothing but success since that time. Basically, the company found a lot of gold that wasn’t supposed to be there, accordingly to past exploration models and aged thinking.

This is a remarkable acomplishment and indeed very good news for the company and the mining town of Bissett.  It is also excellent news for the Manitoba mining industry providing proof once again that the Rice Lake gold belt is extremely under explored and likely contains many mineral treasures waiting to be discovered.

This is indeed proof that gold is where you find it. There is also a larger message in this, fresh thinking and modern methods will in time reveal new discoveries in rock types and areas thought to be not worth exploring in the past.

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