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