MANITOBA – Mustang Minerals of Toronto plans to purchase the mill at the former Bouchard Hebert base metal mine near Rouyn-Noranda, QC, and move it to its Makwa (formerly Maskwa) nickel project near Bernic Lake. The $2-million price covers substantially all of the grinding and milling equipment.
Mustang plans to complete a feasibility study incorporating the mill during 2011. A prefeasibility study was done in 2008 which included the use of all new equipment for the nickel concentrator. The purchase of the Bouchard Hebert equipment is expected to provide potential for significant reduction in capital cost for the project. Mustang has two open pit deposits located in southeast Manitoba. The Makwa project has a NI 43-101 (February 2010) reserve estimate that outlines 9.9 million tonnes in the probable category containing 0.541% Ni, 0.113% Cu and 0.433 g/t PGM. The company’s Mayville project is located approximately 35 km by road from Makwa and has an indicated resource of 9.2 million tonnes containing 0.61% Cu, 0.23% Ni and 0.174 g/t Pd.
More information is posted at www.MustangMinerals.com.