Mustang Minerals Corp.: Drilling Expands M2 Zone 2006 Exploration and Development Program Announced.TORONTO -- Mustang mustang [Sp. mesteño=a stray], small feral horse of the W United States. Mustangs are descended from escaped Native American horses, which in turn were descended from horses of North African blood, brought to the New World by the Spanish c.1500. Minerals Corp. (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:MUM) is pleased to announce a successful start to the 2005/06 drill campaign. Initial drill results from drill holes completed in December 2005 have confirmed the continuation of copper-nickel mineralization Mineralization The process by which the body uses minerals to build bone structure. Mentioned in: Rickets mineralization, n the bioprecipitation of an inorganic substance. to the western limit of the M2 Zone. Drilling has now resumed and a second drill is currently being mobilized to the project. An active exploration and project development program for the Maskwa/Mayville Project is now underway and is focused on adding additional resources and making a positive preliminary economic assessment of the project in 2006. In addition, exploration drilling will continue in the project area to evaluate the potential for additional discoveries. Results of Dec/05 M2 Zone Drilling Recent drill results from 7 holes completed at the M2 Zone have successfully extended the zone a distance of 800 meters from previous drilling completed by Mustang in mid-2005. The M2 Zone coincides with a 1.5 km long VTEM geophysical ge·o·phys·ics n. (used with a sing. verb) The physics of the earth and its environment, including the physics of fields such as meteorology, oceanography, and seismology. airborne conductor and is open along strike and to depth. Five of the 7 holes drilled intersected bulk tonnage grade copper-nickel-pgm-cobalt mineralization. A link to a long section showing drill hole locations is posted at www.mustangminerals.com. ( see M2 Long Section link on lower right of the home page )
Significant results include:
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HOLE Intersection Width Copper Nickel PGM Cobalt
(meters) (meters) (%) (%) (ppb) (%)
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May-31 174.4-182.5 8.10 0.51 0.20 339 0.01
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May-32 142.3-150.0 7.70 0.39 0.22 291 0.02
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May-33 23.5-55.5 32.0 0.47 0.21 257 0.02
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May-34 120.7-139.3 18.6 0.68 0.20 216 0.02
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May-37 99.6-117.4 17.8 0.60 0.28 342 0.02
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Secured, one half sawed drill core was sent to Laboratoire Expert in Rouyn-Noranda, Quebec Rouyn-Noranda (2006 population 39,924) is a city on Osisko Lake in northwestern Quebec, Canada. The city of Rouyn appeared after copper was discovered in 1917. Noranda (a contraction of "North Canada") was created later around the Horne mine and foundry. for analytical work. Mineralized min·er·al·ize v. min·er·al·ized, min·er·al·iz·ing, min·er·al·iz·es v.tr. 1. To convert to a mineral substance; petrify. 2. To transform a metal into a mineral by oxidation. 3. drill core are analyzed for nickel, copper and cobalt by total digestion followed by atomic absorption analysis with concentrations reported as a percent. Gold, platinum and palladium concentrations are determined by fire assay with an ICP-MS ICP-MS Inductively Coupled Plasma Mass Spectroscopy finish. Mustang's QA-QC program also includes the insertion of commercial standards, blanks and duplicates with each sample batch. Check samples along with standard and blanks are routinely sent to other commercial laboratories for verification. The M4 conductor, previously drilled in the 1980's, was drilled in three holes by Mustang in December/05 and failed to intersect In a relational database, to match two files and produce a third file with records that are common in both. For example, intersecting an American file and a programmer file would yield American programmers. significant mineralization of interest. Resource Drilling at M2-Winter 2006 The winter drilling program at the M2 Zone will be designed to intersect the zone along its 1.5 kilometers strike length. A minimum of two holes will be drilled every 100 meters and will test the zone to a depth of approximately 150 meters. An estimated 20 holes will be required to complete this initial program and will enable the Company to more accurately evaluate the overall potential for bulk tonnage resources at the M2 Zone. Following successful completion of this phase, specific areas of the M2 Zone will be targeted for infill in·fill n. 1. The use of vacant land and property within a built-up area for further construction or development, especially as part of a neighborhood preservation or limited growth program. 2. drilling towards the goal of outlining a bulk tonnage open pit resource. Airborne Target Drilling-Winter 2006 In order to assess the overall mineral potential of the project area reconnaissance drilling across the north arm of the belt is planned. Initial drilling will focus on the VTEM airborne geophysical targets identified by the heliborne hel·i·borne adj. Carried or transported by helicopter: heliborne troops. survey flown in 2005. Approximately 16 holes, testing 8 geophysical conductors, are planned. None of the airborne conductors are known to have been drill tested in the past. New bulk tonnage discoveries such as the Maskwa Deposit or the M2 Zone are the exploration target/model. Program Development - Maskwa/Mayville Project Within the project area, the Maskwa Nickel Deposit and the copper-nickel mineralization of the M2 Zone have been Mustangs focus of exploration. The Maskwa Nickel Deposit currently contains a 6.0 million tonne open pit and underground resource @ 0.74% nickel and 0.15% copper which is classified as Indicated. The resource estimate was completed by RPA RPA Remote Patron Authentication RPA Rural Payments Agency (UK Department of Environment, Food and Rural Affairs) RPA Replication Protein A RPA RNAse Protection Assay RPA Regional Plan Association RPA Random-Phase Approximation on February 18, 2005 and is in accordance with National Instrument 43-101. It is located on the south limb of the Bird River Greenstone Belt Greenstone belts are zones of variably metamorphosed mafic to ultramafic volcanic sequences with associated sedimentary rocks that occur within Archaean and Proterozoic cratons between granite and gneiss bodies. . The M2 Zone of the Mayville Property is located on the north limb of the belt approximately 35 km to the north. It is a gabbro gabbro: see basalt. gabbro Any of several medium- or coarse-grained rocks that consist primarily of plagioclase feldspar and pyroxene. Gabbros are found widely on the Earth and on the Moon. hosted copper-nickel bulk tonnage zone coinciding with a 1.5 km long airborne VTEM conductor. Initial priorities of the program are resource definition at the M2 Zone, metallurgical met·al·lur·gy n. 1. The science that deals with procedures used in extracting metals from their ores, purifying and alloying metals, and creating useful objects from metals. 2. studies at Maskwa and M2 and scoping of potential synergies between ore from the Maskwa Deposit and the M2 Zone. Currently, initial metallurgical studies are pending from drill core samples of the M2 Zone. The studies will test recovery rates for copper-nickel and will provide a preliminary estimate of concentrate grades. The Bird River Project is located approximately 150 kms northeast of Winnipeg, Manitoba and is located close to excellent mining infrastructure. Mustang also has the exploration projects in Ontario including the East Bull Lake and River Valley Projects near Sudbury and its Bannockburn Project near Timmins Ontario. The Company recently raised $3 million in exploration funding for the projects in 2006. Ken Lapierre P.Geo (ON), Mustang's VP of Exploration, is the Qualified Person (QP) for National Instrument 43-101 and has reviewed the contents of this news release. To find out more about Mustang Minerals Corp (TSX-V: MUM), visit our website at www.mustangminerals.com. Certain information regarding the Company contained herein may constitute forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. under applicable securities laws. Such statements are subject to known or unknown risks and uncertainties that may cause actual results to differ materially from those anticipated or implied in the forward-looking statements. . This news release does not constitute an offer to sell or a solicitation of an offer to purchase securities in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . Shares Outstanding: 52,600,186 The TSX Venture Exchange TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. has not reviewed and does not accept resp onsibility for the contents of this press release. Mustang Minerals Corp. (TSX VENTURE:MUM) |
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