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Mustang options nickel property near Timmins (7/03)

Mustang Minerals, a major PGM player in the Sudbury mining camp, has optioned the Bannockburn Nickel Project near Timmins from Outokumpu Mines. The project consists of 143 mining claim units located 100 kilometres south of the city.

Mustang Minerals, a major PGM player in the Sudbury mining camp, has optioned the Bannockburn Nickel Project near Timmins from Outokumpu Mines.

 

The project consists of 143 mining claim units located 100 kilometres south of the city.

 

Outokumpu’s exploration program revealed two styles of nickel sulphide mineralization on the property.

 

Kambalda style massive and heavily disseminated sulphides occur in footwall embayments. Other mineralization similar to Mt. Keith-style disseminated sulphide mineralization was also identified.

 

Mustang says it represents a bulk tonnage exploration target.

 

“Our near term objective is to assemble a high-quality portfolio of quality nickel exploration projects near established mining infrastructure,” says Mustang president Robin Dunbar in a news release. “The Bannockburn Project is a key first step.”

 

Mustang earns a 100 per cent interest in the property subject to an underlying net smelter royalty by spending $350,000 on exploration and making cash payments of $100,000.