Latest news with #SpurProject
News.com.au
3 days ago
- Business
- News.com.au
Resources Top 5: Investors throw $30m at Waratah as it turns up the heat on NSW gold hunt
Investors validate WTM gold strategy through $30m placement Potential for gallium by-product at KNG's Leliyn graphite project Multiple high-priority drilling targets with significant REE potential at Colosseum Your standout small cap resources stocks for Thursday, August 14, 2025 Waratah Minerals (ASX:WTM) Investors have shown their confidence in Waratah Minerals and validated its aggressive exploration strategy at the Spur gold-copper project in NSW by pouring $30 million into a placement. Continuing a stellar run on the ASX, the company hit a four-year high of 76.5c, a 24.4% increase on the previous day's close, and has risen from 29.5c at the close on August 1. And there is more to come, at least according to Blue Ocean Equities analyst Carlos Crowley-Vasquez who increased the broker's price target from $1.20 to $1.50, saying he sees Spur as having a path to a +3Moz resource. Strong demand was received from existing and new Australian and North American institutional investors for the placement at 57.5c per share, a 7.1% premium to WTM's 5-day VWAP of 53.7c and a 16.1% premium to the 30-day VWAP of 49.5c. It comprises two tranches, with the first of $11.7m to be followed by a second tranche of $18.3m subject to shareholder approval at an upcoming general meeting. Bell Potter Securities acted as sole lead manager to the placement, which has strengthened the company's shareholder base. WTM managing director Peter Duerden said he was delighted with the outcome and the support received. 'The placement provides strong validation of the company's strategy and will enable an acceleration of our exploration activities at the Spur gold-copper project,' he said. Funds will enable the company to step up extensional and resource drilling at Spur, which is in the heart of the Lachlan Fold Belt in NSW, just a few kilometres west of the Cadia Valley gold and copper operations of Newmont. Funds will also be used for initial metallurgical testwork and further target definition geochemistry and geophysics. As well as attracting support from investors, Waratah was also a major talking point at the Diggers and Dealers conference in Kalgoorlie after recent drilling returned a 208.7m intersection grading 1.17g/t gold from 514m at the Consols prospect Drilling returned multiple zones of visible gold, increasing the company's strike along the Spur golds corridor to more than 1.5km The result enhanced confidence in the project's potential to host a large-scale, high-grade epithermal gold system with plenty of upside along the rapidly emerging corridor. The company has three drill rigs on the site southwest of Orange and west of Cadia with a steady stream of exploration results expected in coming weeks and months. Kingsland Minerals (ASX:KNG) Critical minerals have been front and centre in the resources sector along with gold and Kingsland Minerals is benefitting from having a significant deposit of graphite, a key metal in the production of batteries. Now the company has also identified the potential to produce high-value gallium, a critical component in semiconductors, optical-electronic devices, solar panels and several military applications, at its Leliyn graphite project in WA. Investors also like what they see from Kingsland with shares reaching 19c, a 2025 high and an improvement of 31.1% on the previous close. Gallium is a soft metal with a melting point near room temperature (30°C) that is classified as a critical mineral in Europe, America and Australia and its market is projected to grow from US$2.45b in 2024 to US$21.53b by 2034. It isn't mined as a primary ore but is typically produced as a by-product of bauxite and zinc cores. A testwork breakthrough has identified the potential to produce gallium as a by-product at Leliyn, which hosts Australia's largest graphite deposit. Mineralogical testing, which has been verified by the CSIRO, has established muscovite mica as the principal host of gallium within the Leliyn graphitic schist, with biotite mica a secondary host. Kingsland managing director Richard Maddocks said this marked an important development in the company's strategy to unlock value at Leliyn. 'Now we know what mineral hosts the gallium, we can work towards producing a gallium concentrate,' he said. 'It is anticipated that once a gallium concentrate is produced, additional work will assess the viability of extracting gallium and/or gallium compounds from the concentrate. 'It should be noted that gallium production will not be considered in the Leliyn scoping study due for release later in the September quarter,' he added. Kingsland has completed an exploration target for gallium at Leliyn and plans to publish a maiden gallium JORC-compliant resource later in 2025. Mount Ridley Mines (ASX:MRD) (Up on no news) A big mover was Mount Ridley Mines despite having no news with shares surging 180% to a 2025 high of 0.7c. The company continues a desktop review of its WA exploration assets, with a particular focus on its namesake rare earths project in the state's south. This is part of its strategic approach to assess historical data, geological models and economic potential across its portfolio, and will assist in prioritising high-potential areas for future exploration. The Mount Ridley review aims to optimise the company's landholding while maintaining a strategic focus on the project. MRD is also reviewing additional target areas within the Weld Range project in WA's Mid-West. The aim is to define priority locations for a follow-up rock chip sampling program, designed to further assess and refine prospective mineralised zones identified during earlier fieldwork. At Weld Range MRD holds about 18% of the Weld Range Banded Iron Formation (BIF) with areas of the tenements prospective for iron and gold. OD6 Metals (ASX:OD6) Positive testwork results this week have seen OD6 Metals reach a 12-month high of 10.5c, a lift of 54.5% on the previous close, and on volume of more than 31m. High-quality mixed rare earth carbonate (MREC) and mixed rare earth hydroxide (MREH) have been produced from the Splinter Rock REE project in WA with low impurities and high payability potential. The results were from heap leach liquor in metallurgical testing conducted by the Australian Nuclear Science and Technology Organisation (ANSTO). MREC of ~56% TREO was produced via a simplified and scalable heap leach and impurity removal process flowsheet while MREH of ~59% TREO was also produced utilising the same process but with sodium hydroxide (NaOH) to precipitate the saleable product. Dateline Resources (ASX:DTR) Results from a recent 3D magnetotelluric geophysical inversion for the Colosseum gold-REE project of Dateline Resources in California have confirmed multiple high-priority drilling targets with significant rare earth element potential. As well as outlining these targets, a 3D resistivity model derived from the MT survey highlights a standout geophysical anomaly, which is interpreted to represent a potential carbonatite-hosted REE target at depth. This has seen Dateline Resources reach a seven-year high of 21c, a 27.3% increase. 'We are very encouraged by the positive magnetotelluric survey results, which validate our previous work and reinforce confidence in our exploration model,' DTR CEO and MD Stephen Baghdadi said. 'The identification of a deep, high-resistivity feature directly beneath fenite outcrops is particularly noteworthy, as it is consistent with a carbonatite-related system. 'With these geophysical insights in hand, we are now preparing for the next phase of exploration, including drill planning for these targets.' 'We remain optimistic that our gold targets, particularly those coincident with low-resistivity zones or favourable structures, will prove similarly encouraging." This article does not constitute financial product advice. You should consider obtaining independent financial advice before making any financial decisions. While Waratah Minerals, and Kingsland Minerals are Stockhead advertisers, they did not sponsor this article.
Globe and Mail
10-04-2025
- Business
- Globe and Mail
MULTIMEDIA UPDATE – Mustang Energy Expands Spur Project South of the Athabasca Basin, Saskatchewan and Enters Marketing Services Agreements
VANCOUVER, British Columbia, April 10, 2025 (GLOBE NEWSWIRE) -- Mustang Energy Corp. (CSE: MEC, OTC:MECPF, FRA:92T) (the ' Company ' or ' Mustang ') is pleased to announce the expansion of its Spur Project with the acquisition of a 100%-owned mineral claim comprising 5,751 hectares. The new claim is located directly south of the Athabasca Basin in northern Saskatchewan and was secured through strategic, cost-effective staking. This addition further strengthens Mustang's land position in a geologically favorable region prospective for uranium, rare earth elements (REEs), thorium (Th), and base metal mineralization. A previous version of this news release disseminated on April 7, 2025 inadvertently contained an outdated Figure 1, which has been corrected in this news release. The new claim extends the Spur Project southward and lies approximately 70 km southeast of Cameco's Key Lake Mill and within 45 km of all-season road access and a power transmission corridor. The property is situated within an underexplored area of the Wollaston Domain and encompasses a magnetic low trending south from the Burbidge Lake Shear Zone—a notable regional reverse fault. This structural corridor also lies adjacent to Forum Energy Metals' Janice Lake Sediment-hosted Copper Project. The newly acquired claim includes a historically identified zinc showing, Grand Rapids Zinc Occurrence, where surface grab samples returned up to 0.4% Zn 4. This area is considered prospective for a range of mineralization styles, including basement-hosted uranium, Rössing-type uranium-REE-bearing granitic pegmatites 2, and base metals. Its strategic location along trend of Forum Energy Metals' Janice Lake Sedimentary Copper Project 5 and directly east of Searchlight Resources' Kulyk Lake Uranium and REE Project 6, further underscores its promising exploration potential. 'With this acquisition, Mustang continues to strengthen and diversify its portfolio to include uranium and critical mineral assets in the Athabasca region, a globally recognized jurisdiction for high-grade uranium deposits," said Nicholas Luksha, CEO and Director. "We are committed to unlocking the mineral potential of the Spur project. Our technical team is currently compiling available datasets with the expectation of initiating a reconnaissance-level exploration program over the newly staked area during the upcoming field season.' Figure 1: Overview of Mustang Energy's newly acquired claim south of the Athabasca Basin, Saskatchewan 1 Spur Project Geology and Mineralization The Spur Project is situated within the Wollaston Domain, just south of the Athabasca Basin, a region recognized for hosting some of the world's highest-grade uranium deposits. The property is underlain by Proterozoic basement rocks, comprising Wollaston Group metasedimentary gneisses, predominantly psammitic to meta-arkosic, with folded lenses of pelitic to psammopelitic gneisses. This geological setting is favourable for both structurally controlled basement-hosted uranium and pegmatite-related uranium, REE's and thorium mineralization. Mineralization in this region commonly includes anomalous concentrations of REEs and base metals associated with uranium and thorium, indicative of Rössing-type systems. These deposit types are named after the Rössing uranium mine in Namibia, one of the world's largest open-pit uranium mines, known for its REE-enriched granitic pegmatites. 2 To the northeast lies the Janice Lake area, known for its sediment-hosted, stratiform copper mineralization. Over 20 copper occurrences have been documented there, primarily situated northwest of the Burbidge Lake Shear Zone in more proximal sedimentary facies of the Janice Lake and Rafuse Lake formations. The southern extension of this mineralized corridor, where Mustang's new claim is located, remains underexplored. 3 Strategic Importance This expansion aligns with Mustang's broader corporate strategy of building a diversified portfolio of uranium and critical mineral assets in politically stable, infrastructure-rich jurisdictions. As global interest in nuclear energy and clean technologies accelerates, Mustang remains well-positioned to contribute meaningfully to the evolving energy landscape. Mustang remains committed to executing its exploration strategy responsibly, contributing positively to local communities, and ensuring environmental sustainability in all its operations. References Saskatchewan GeoAtlas, Retrieved from: Rossing Uranium Limited. (n.d.). Press Bulletin 64. Retrieved from Delaney, G.D., et. al, (1995): Geological setting of sediment hosted copper mineralization in the Janice Lake area, Wollaston Domain; in Summary of Investigations 1995, Saskatchewan Geological Survey. Sask. Energy Mines, Misc. Rep. 95-4. Saskatchewan Mineral Deposits Index. (n.d.). Grand Rapids Zn Occurrence (Deposit ID: 0987). Retrieved from: Forum Energy Metals Corp. Retrieved from: Searchlight Resources Inc. Retrieved from: Qualifying Statement The scientific and technical information in this release has been reviewed and approved by Lynde Guillaume, Technical Advisor for Mustang Energy, a registered member of the Professional Engineers and Geoscientists of Saskatchewan. Ms. Guillaume is a Qualified Person as defined by National Instrument 43-101. Adjacent Property Disclaimer: This news release includes references with respect to uranium occurrences as well as references to geological favourability of ' Adjacent Properties ', which are located near the Spur Project. The Company advises that, notwithstanding their proximity of location, discoveries of minerals on the Adjacent Properties and any promising results thereof are not necessarily indicative of the mineralization of, or located on the Spur Project, or the Company's ability to commercially exploit the Spur Project, or to locate any commercially exploitable deposits therefrom. The Company cautions investors on relying on this information as the Company has not confirmed the accuracy or reliability of the information. Engagement with MCS Market Communication Service GmbH Pursuant to an independent marketing services agreement dated April 1, 2025 (the ' MCS Agreement '), the Company has engaged MCS Market Communication Service GmbH (' MCS ') to provide certain online marketing activities including technical solutions to map those activities and investor relations services to the Company for a term of six months in consideration for an initial budget for the marketing campaign of 220.000 EUR, of which MCS will charge an agency fee of 35.200 EUR (approximately CDN$54,517,76). The Company has an option to increase the budget in the future upon mutual agreement of both parties. The services to be conducted by MCS will include creation of test materials, creation of campaigns, ad groups, text ads, display ads, detailed keyword research, setup and management of remarketing campaigns within an individual website visitor approach, permanent dynamic optimization of the keywords set, ongoing bid management of campaigns, ad groups and keywords, optimization of keyword options, control and optimization for different devices, placing display advertisements, using relevant targeting options as demographic, geographic, interest, topics or keywords, coordinating online advertiser and marketers corresponding to the online marketing targets and creation of landing pages for ad campaigns. The payment of any fees in connection with the engagement is subject to the approval of the CSE. The Contractor has no direct relationship with the Company, other than as contemplated in the engagement. MCS and its principals are arm's length to the Company. MCS's contact information is as follows: Rheinpromenade 13, 40789 Monheim am Rhein, NRW, Germany, attention: Monika Woeste, Chief Executive Officer, email: info@ telephone: 49-177-2481220. Engagement with 9466-5908 Quebec Inc. Pursuant to an agreement dated April 1, 2025 (the ' Agreement '), the Company has engaged 9466-5908 Quebec Inc. (the ' Contractor ') to provide certain investor relations services to the Company. The engagement commenced on April 1, 2025 and will continue until May 31, 2025 (the ' Term '), unless terminated pursuant to the terms of the Agreement. The Term may be extended with the written consent of the Company and the Contractor. The Contractor will provide 15 professionally produced videos monthly, repurposed for optimal reach across TikTok, Instagram, YouTube and Facebook and detailed monthly reports with key metrics on engagement, reach and follower growth. Pursuant to the terms of the Agreement, the Company will pay a cash retainer of $17,400 per month. The payment of any fees in connection with the engagement is subject to the approval of the CSE. The Contractor has no direct relationship with the Company, other than as contemplated in the engagement. The Contractor has an address at 207 – 7080 Rue Alexandra, Montreal, QC H2S 3J5 and Adam Khatib of 9466-5908 Quebec Inc. can be reached by telephone at 514.690.2750 or by email at hello@ About Mustang Energy Corp.: Mustang is a resource exploration company focused on acquiring and developing high-potential uranium and critical mineral assets. The Company is actively exploring its properties in Northern Saskatchewan, Canada and holds 83,069 hectares in around the Athabasca Basin. Mustang's flagship property, Ford Lake, covers 7,743 hectares in the prolific eastern Athabasca Basin, while its Cigar Lake East and Roughrider South projects span 3,442 hectares in the Wollaston Domain. Mustang has also established its footprint in the Cluff Lake region of the Athabasca Basin with the Yellowstone Project (21,820 hectares) and further expanded its presence in the south central region of the Athabasca Basin with the Dutton Project (7,633 hectares). For further information, please contact: Mustang Energy Corp. Attention: Nicholas Luksha, CEO and Director Phone: (604) 838-0184 Neither the CSE nor the Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release. This news release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as 'intends', 'believes' or 'anticipates', or variations of such words and phrases or statements that certain actions, events or results 'may', 'could', 'should', 'would' or 'occur'. This information and these statements, referred to herein as 'forward‐looking statements', are not historical facts, are made as of the date of this news release and include without limitation, statements regarding discussions of future plans, estimates and forecasts and statements as to management's expectations and intentions with respect to, among other things, the future potential of the minerals claims held by the Company, including the Spur Project; the completion of future work on the Spur Project; that marketing campaigns led by MCS and the Contractor will expand the Company's presence target markets; and that the Company is strategically positioned for substantial growth. In making the forward-looking statements in this news release, the Company has applied several material assumptions, including without limitation the assumption that the Company will be able to continue exploring its properties given various environmental and economic factors outside of its control; that the marketing campaigns created by MCS and the Contractor will be completed as planned; and that the marketing engagement with MCS and the Contractor will have the desired impact on Mustang's presence in target markets. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws.
Globe and Mail
08-04-2025
- Business
- Globe and Mail
Mustang Energy Expands Spur Project South of the Athabasca Basin, Saskatchewan and Enters Marketing Services Agreements
VANCOUVER, British Columbia, April 07, 2025 (GLOBE NEWSWIRE) -- Mustang Energy Corp. (CSE: MEC, OTC:MECPF, FRA:92T) (the ' Company ' or ' Mustang ') is pleased to announce the expansion of its Spur Project with the acquisition of a 100%-owned mineral claim comprising 5,751 hectares. The new claim is located directly south of the Athabasca Basin in northern Saskatchewan and was secured through strategic, cost-effective staking. This addition further strengthens Mustang's land position in a geologically favorable region prospective for uranium, rare earth elements (REEs), thorium (Th), and base metal mineralization. The new claim extends the Spur Project southward and lies approximately 70 km southeast of Cameco's Key Lake Mill and within 45 km of all-season road access and a power transmission corridor. The property is situated within an underexplored area of the Wollaston Domain and encompasses a magnetic low trending south from the Burbidge Lake Shear Zone—a notable regional reverse fault. This structural corridor also lies adjacent to Forum Energy Metals' Janice Lake Sediment-hosted Copper Project. The newly acquired claim includes a historically identified zinc showing, Grand Rapids Zinc Occurrence, where surface grab samples returned up to 0.4% Zn 4. This area is considered prospective for a range of mineralization styles, including basement-hosted uranium, Rössing-type uranium-REE-bearing granitic pegmatites 2, and base metals. Its strategic location along trend of Forum Energy Metals' Janice Lake Sedimentary Copper Project 5 and directly east of Searchlight Resources' Kulyk Lake Uranium and REE Project 6, further underscores its promising exploration potential. 'With this acquisition, Mustang continues to strengthen and diversify its portfolio to include uranium and critical mineral assets in the Athabasca region, a globally recognized jurisdiction for high-grade uranium deposits," said Nicholas Luksha, CEO and Director. "We are committed to unlocking the mineral potential of the Spur project. Our technical team is currently compiling available datasets with the expectation of initiating a reconnaissance-level exploration program over the newly staked area during the upcoming field season.' Figure 1: Overview of Mustang Energy's newly acquired claim south of the Athabasca Basin, Saskatchewan 1 Spur Project Geology and Mineralization The Spur Project is situated within the Wollaston Domain, just south of the Athabasca Basin, a region recognized for hosting some of the world's highest-grade uranium deposits. The property is underlain by Proterozoic basement rocks, comprising Wollaston Group metasedimentary gneisses, predominantly psammitic to meta-arkosic, with folded lenses of pelitic to psammopelitic gneisses. This geological setting is favourable for both structurally controlled basement-hosted uranium and pegmatite-related uranium, REE's and thorium mineralization. Mineralization in this region commonly includes anomalous concentrations of REEs and base metals associated with uranium and thorium, indicative of Rössing-type systems. These deposit types are named after the Rössing uranium mine in Namibia, one of the world's largest open-pit uranium mines, known for its REE-enriched granitic pegmatites. 2 To the northeast lies the Janice Lake area, known for its sediment-hosted, stratiform copper mineralization. Over 20 copper occurrences have been documented there, primarily situated northwest of the Burbidge Lake Shear Zone in more proximal sedimentary facies of the Janice Lake and Rafuse Lake formations. The southern extension of this mineralized corridor, where Mustang's new claim is located, remains underexplored. 3 Strategic Importance This expansion aligns with Mustang's broader corporate strategy of building a diversified portfolio of uranium and critical mineral assets in politically stable, infrastructure-rich jurisdictions. As global interest in nuclear energy and clean technologies accelerates, Mustang remains well-positioned to contribute meaningfully to the evolving energy landscape. Mustang remains committed to executing its exploration strategy responsibly, contributing positively to local communities, and ensuring environmental sustainability in all its operations. References Saskatchewan GeoAtlas, Retrieved from: Rossing Uranium Limited. (n.d.). Press Bulletin 64. Retrieved from Delaney, G.D., et. al, (1995): Geological setting of sediment hosted copper mineralization in the Janice Lake area, Wollaston Domain; in Summary of Investigations 1995, Saskatchewan Geological Survey. Sask. Energy Mines, Misc. Rep. 95-4. Saskatchewan Mineral Deposits Index. (n.d.). Grand Rapids Zn Occurrence (Deposit ID: 0987). Retrieved from: Forum Energy Metals Corp. Retrieved from: Searchlight Resources Inc. Retrieved from: Qualifying Statement The scientific and technical information in this release has been reviewed and approved by Lynde Guillaume, Technical Advisor for Mustang Energy, a registered member of the Professional Engineers and Geoscientists of Saskatchewan. Ms. Guillaume is a Qualified Person as defined by National Instrument 43-101. Adjacent Property Disclaimer: This news release includes references with respect to uranium occurrences as well as references to geological favourability of ' Adjacent Properties ', which are located near the Spur Project. The Company advises that, notwithstanding their proximity of location, discoveries of minerals on the Adjacent Properties and any promising results thereof are not necessarily indicative of the mineralization of, or located on the Spur Project, or the Company's ability to commercially exploit the Spur Project, or to locate any commercially exploitable deposits therefrom. The Company cautions investors on relying on this information as the Company has not confirmed the accuracy or reliability of the information. Engagement with MCS Market Communication Service GmbH Pursuant to an independent marketing services agreement dated April 1, 2025 (the ' MCS Agreement '), the Company has engaged MCS Market Communication Service GmbH (' MCS ') to provide certain online marketing activities including technical solutions to map those activities and investor relations services to the Company for a term of six months in consideration for an initial budget for the marketing campaign of 220.000 EUR, of which MCS will charge an agency fee of 35.200 EUR (approximately CDN$54,517,76). The Company has an option to increase the budget in the future upon mutual agreement of both parties. The services to be conducted by MCS will include creation of test materials, creation of campaigns, ad groups, text ads, display ads, detailed keyword research, setup and management of remarketing campaigns within an individual website visitor approach, permanent dynamic optimization of the keywords set, ongoing bid management of campaigns, ad groups and keywords, optimization of keyword options, control and optimization for different devices, placing display advertisements, using relevant targeting options as demographic, geographic, interest, topics or keywords, coordinating online advertiser and marketers corresponding to the online marketing targets and creation of landing pages for ad campaigns. The payment of any fees in connection with the engagement is subject to the approval of the CSE. The Contractor has no direct relationship with the Company, other than as contemplated in the engagement. MCS and its principals are arm's length to the Company. MCS's contact information is as follows: Rheinpromenade 13, 40789 Monheim am Rhein, NRW, Germany, attention: Monika Woeste, Chief Executive Officer, email: info@ telephone: 49-177-2481220. Engagement with 9466-5908 Quebec Inc. Pursuant to an agreement dated April 1, 2025 (the ' Agreement '), the Company has engaged 9466-5908 Quebec Inc. (the ' Contractor ') to provide certain investor relations services to the Company. The engagement commenced on April 1, 2025 and will continue until May 31, 2025 (the ' Term '), unless terminated pursuant to the terms of the Agreement. The Term may be extended with the written consent of the Company and the Contractor. The Contractor will provide 15 professionally produced videos monthly, repurposed for optimal reach across TikTok, Instagram, YouTube and Facebook and detailed monthly reports with key metrics on engagement, reach and follower growth. Pursuant to the terms of the Agreement, the Company will pay a cash retainer of $17,400 per month. The payment of any fees in connection with the engagement is subject to the approval of the CSE. The Contractor has no direct relationship with the Company, other than as contemplated in the engagement. The Contractor has an address at 207 – 7080 Rue Alexandra, Montreal, QC H2S 3J5 and Adam Khatib of 9466-5908 Quebec Inc. can be reached by telephone at 514.690.2750 or by email at hello@ About Mustang Energy Corp.: Mustang is a resource exploration company focused on acquiring and developing high-potential uranium and critical mineral assets. The Company is actively exploring its properties in Northern Saskatchewan, Canada and holds 83,069 hectares in around the Athabasca Basin. Mustang's flagship property, Ford Lake, covers 7,743 hectares in the prolific eastern Athabasca Basin, while its Cigar Lake East and Roughrider South projects span 3,442 hectares in the Wollaston Domain. Mustang has also established its footprint in the Cluff Lake region of the Athabasca Basin with the Yellowstone Project (21,820 hectares) and further expanded its presence in the south central region of the Athabasca Basin with the Dutton Project (7,633 hectares). For further information, please contact: Mustang Energy Corp. Attention: Nicholas Luksha, CEO and Director Phone: (604) 838-0184 Neither the CSE nor the Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release. This news release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as 'intends', 'believes' or 'anticipates', or variations of such words and phrases or statements that certain actions, events or results 'may', 'could', 'should', 'would' or 'occur'. This information and these statements, referred to herein as 'forward‐looking statements', are not historical facts, are made as of the date of this news release and include without limitation, statements regarding discussions of future plans, estimates and forecasts and statements as to management's expectations and intentions with respect to, among other things, the future potential of the minerals claims held by the Company, including the Spur Project; the completion of future work on the Spur Project; that marketing campaigns led by MCS and the Contractor will expand the Company's presence target markets; and that the Company is strategically positioned for substantial growth. In making the forward-looking statements in this news release, the Company has applied several material assumptions, including without limitation the assumption that the Company will be able to continue exploring its properties given various environmental and economic factors outside of its control; that the marketing campaigns created by MCS and the Contractor will be completed as planned; and that the marketing engagement with MCS and the Contractor will have the desired impact on Mustang's presence in target markets. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws.
Yahoo
08-04-2025
- Business
- Yahoo
Mustang Energy Expands Spur Project South of the Athabasca Basin, Saskatchewan and Enters Marketing Services Agreements
VANCOUVER, British Columbia, April 07, 2025 (GLOBE NEWSWIRE) -- Mustang Energy Corp. (CSE: MEC, OTC:MECPF, FRA:92T) (the 'Company' or 'Mustang') is pleased to announce the expansion of its Spur Project with the acquisition of a 100%-owned mineral claim comprising 5,751 hectares. The new claim is located directly south of the Athabasca Basin in northern Saskatchewan and was secured through strategic, cost-effective staking. This addition further strengthens Mustang's land position in a geologically favorable region prospective for uranium, rare earth elements (REEs), thorium (Th), and base metal mineralization. The new claim extends the Spur Project southward and lies approximately 70 km southeast of Cameco's Key Lake Mill and within 45 km of all-season road access and a power transmission corridor. The property is situated within an underexplored area of the Wollaston Domain and encompasses a magnetic low trending south from the Burbidge Lake Shear Zone—a notable regional reverse fault. This structural corridor also lies adjacent to Forum Energy Metals' Janice Lake Sediment-hosted Copper Project. The newly acquired claim includes a historically identified zinc showing, Grand Rapids Zinc Occurrence, where surface grab samples returned up to 0.4% Zn4. This area is considered prospective for a range of mineralization styles, including basement-hosted uranium, Rössing-type uranium-REE-bearing granitic pegmatites2, and base metals. Its strategic location along trend of Forum Energy Metals' Janice Lake Sedimentary Copper Project5 and directly east of Searchlight Resources' Kulyk Lake Uranium and REE Project6, further underscores its promising exploration potential. 'With this acquisition, Mustang continues to strengthen and diversify its portfolio to include uranium and critical mineral assets in the Athabasca region, a globally recognized jurisdiction for high-grade uranium deposits," said Nicholas Luksha, CEO and Director. "We are committed to unlocking the mineral potential of the Spur project. Our technical team is currently compiling available datasets with the expectation of initiating a reconnaissance-level exploration program over the newly staked area during the upcoming field season.'Figure 1: Overview of Mustang Energy's newly acquired claim south of the Athabasca Basin, Saskatchewan1 Spur Project Geology and Mineralization The Spur Project is situated within the Wollaston Domain, just south of the Athabasca Basin, a region recognized for hosting some of the world's highest-grade uranium deposits. The property is underlain by Proterozoic basement rocks, comprising Wollaston Group metasedimentary gneisses, predominantly psammitic to meta-arkosic, with folded lenses of pelitic to psammopelitic gneisses. This geological setting is favourable for both structurally controlled basement-hosted uranium and pegmatite-related uranium, REE's and thorium mineralization. Mineralization in this region commonly includes anomalous concentrations of REEs and base metals associated with uranium and thorium, indicative of Rössing-type systems. These deposit types are named after the Rössing uranium mine in Namibia, one of the world's largest open-pit uranium mines, known for its REE-enriched granitic pegmatites.2 To the northeast lies the Janice Lake area, known for its sediment-hosted, stratiform copper mineralization. Over 20 copper occurrences have been documented there, primarily situated northwest of the Burbidge Lake Shear Zone in more proximal sedimentary facies of the Janice Lake and Rafuse Lake formations. The southern extension of this mineralized corridor, where Mustang's new claim is located, remains underexplored.3 Strategic Importance This expansion aligns with Mustang's broader corporate strategy of building a diversified portfolio of uranium and critical mineral assets in politically stable, infrastructure-rich jurisdictions. As global interest in nuclear energy and clean technologies accelerates, Mustang remains well-positioned to contribute meaningfully to the evolving energy landscape. Mustang remains committed to executing its exploration strategy responsibly, contributing positively to local communities, and ensuring environmental sustainability in all its operations. References , Retrieved from: Rossing Uranium Limited. (n.d.). Press Bulletin 64. Retrieved from Delaney, G.D., et. al, (1995): Geological setting of sediment hosted copper mineralization in the Janice Lake area, Wollaston Domain; in Summary of Investigations 1995, Saskatchewan Geological Survey. Sask. Energy Mines, Misc. Rep. 95-4. Saskatchewan Mineral Deposits Index. (n.d.). Grand Rapids Zn Occurrence (Deposit ID: 0987). Retrieved from: Forum Energy Metals Corp. Retrieved from: Searchlight Resources Inc. Retrieved from: Qualifying Statement The scientific and technical information in this release has been reviewed and approved by Lynde Guillaume, Technical Advisor for Mustang Energy, a registered member of the Professional Engineers and Geoscientists of Saskatchewan. Ms. Guillaume is a Qualified Person as defined by National Instrument 43-101. Adjacent Property Disclaimer: This news release includes references with respect to uranium occurrences as well as references to geological favourability of 'Adjacent Properties', which are located near the Spur Project. The Company advises that, notwithstanding their proximity of location, discoveries of minerals on the Adjacent Properties and any promising results thereof are not necessarily indicative of the mineralization of, or located on the Spur Project, or the Company's ability to commercially exploit the Spur Project, or to locate any commercially exploitable deposits therefrom. The Company cautions investors on relying on this information as the Company has not confirmed the accuracy or reliability of the information. Engagement with MCS Market Communication Service GmbH Pursuant to an independent marketing services agreement dated April 1, 2025 (the 'MCS Agreement'), the Company has engaged MCS Market Communication Service GmbH ('MCS') to provide certain online marketing activities including technical solutions to map those activities and investor relations services to the Company for a term of six months in consideration for an initial budget for the marketing campaign of 220.000 EUR, of which MCS will charge an agency fee of 35.200 EUR (approximately CDN$54,517,76). The Company has an option to increase the budget in the future upon mutual agreement of both parties. The services to be conducted by MCS will include creation of test materials, creation of campaigns, ad groups, text ads, display ads, detailed keyword research, setup and management of remarketing campaigns within an individual website visitor approach, permanent dynamic optimization of the keywords set, ongoing bid management of campaigns, ad groups and keywords, optimization of keyword options, control and optimization for different devices, placing display advertisements, using relevant targeting options as demographic, geographic, interest, topics or keywords, coordinating online advertiser and marketers corresponding to the online marketing targets and creation of landing pages for ad campaigns. The payment of any fees in connection with the engagement is subject to the approval of the CSE. The Contractor has no direct relationship with the Company, other than as contemplated in the engagement. MCS and its principals are arm's length to the Company. MCS's contact information is as follows: Rheinpromenade 13, 40789 Monheim am Rhein, NRW, Germany, attention: Monika Woeste, Chief Executive Officer, email: info@ telephone: 49-177-2481220. Engagement with 9466-5908 Quebec Inc. Pursuant to an agreement dated April 1, 2025 (the 'Agreement'), the Company has engaged 9466-5908 Quebec Inc. (the 'Contractor') to provide certain investor relations services to the Company. The engagement commenced on April 1, 2025 and will continue until May 31, 2025 (the 'Term'), unless terminated pursuant to the terms of the Agreement. The Term may be extended with the written consent of the Company and the Contractor. The Contractor will provide 15 professionally produced videos monthly, repurposed for optimal reach across TikTok, Instagram, YouTube and Facebook and detailed monthly reports with key metrics on engagement, reach and follower growth. Pursuant to the terms of the Agreement, the Company will pay a cash retainer of $17,400 per month. The payment of any fees in connection with the engagement is subject to the approval of the CSE. The Contractor has no direct relationship with the Company, other than as contemplated in the engagement. The Contractor has an address at 207 – 7080 Rue Alexandra, Montreal, QC H2S 3J5 and Adam Khatib of 9466-5908 Quebec Inc. can be reached by telephone at 514.690.2750 or by email at hello@ About Mustang Energy Corp.: Mustang is a resource exploration company focused on acquiring and developing high-potential uranium and critical mineral assets. The Company is actively exploring its properties in Northern Saskatchewan, Canada and holds 83,069 hectares in around the Athabasca Basin. Mustang's flagship property, Ford Lake, covers 7,743 hectares in the prolific eastern Athabasca Basin, while its Cigar Lake East and Roughrider South projects span 3,442 hectares in the Wollaston Domain. Mustang has also established its footprint in the Cluff Lake region of the Athabasca Basin with the Yellowstone Project (21,820 hectares) and further expanded its presence in the south central region of the Athabasca Basin with the Dutton Project (7,633 hectares). For further information, please contact: Mustang Energy Corp. Attention: Nicholas Luksha, CEO and DirectorPhone: (604) 838-0184This news release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as 'intends', 'believes' or 'anticipates', or variations of such words and phrases or statements that certain actions, events or results 'may', 'could', 'should', 'would' or 'occur'. This information and these statements, referred to herein as 'forward‐looking statements', are not historical facts, are made as of the date of this news release and include without limitation, statements regarding discussions of future plans, estimates and forecasts and statements as to management's expectations and intentions with respect to, among other things, the future potential of the minerals claims held by the Company, including the Spur Project; the completion of future work on the Spur Project; that marketing campaigns led by MCS and the Contractor will expand the Company's presence target markets; and that the Company is strategically positioned for substantial growth. In making the forward-looking statements in this news release, the Company has applied several material assumptions, including without limitation the assumption that the Company will be able to continue exploring its properties given various environmental and economic factors outside of its control; that the marketing campaigns created by MCS and the Contractor will be completed as planned; and that the marketing engagement with MCS and the Contractor will have the desired impact on Mustang's presence in target markets. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws. An infographic accompanying this announcement is available at
Yahoo
21-03-2025
- Business
- Yahoo
Mustang Energy Engages Axiom Exploration for Airborne Geophysical Survey over the Spur Project
VANCOUVER, British Columbia, March 21, 2025 (GLOBE NEWSWIRE) -- Mustang Energy Corp. (CSE: MEC, OTC:MECPF, FRA:92T) (the 'Company' or 'Mustang') is pleased to announce that it has engaged Axiom Exploration Group ('Axiom') to conduct an Aerial Electromagnetic Survey (Xcite™ TDEM) with Radiometrics over its Spur Project located south of the Athabasca Basin, Saskatchewan (the 'Spur Project'). The Company anticipates that the Xcite™ TDEM survey with Radiometrics will commence in early May 2025 and encompass the portion of the claim package which has not been covered by modern day electromagnetic (EM) survey techniques. The airborne survey aims to precisely locate EM and radiometric anomalies, and aid in geological interpretations on the property advancing exploration targeting. In addition, Mustang has applied for exploration permits on the Spur Project and the Company's 914W Project. The permit applications include ground based mineral exploration activities such as trail construction, line-cutting, ground geophysical surveys, and diamond drilling. Subject to obtaining the required permits and approvals, Mustang plans to initiate exploration activities aimed at further assessing the viability of these projects, as well as to continue consultation with local communities. About Xcite™ TDEM Xcite™ is a new generation of helicopter-borne time-domain electromagnetic (TDEM) systems developed by New Resolution Geophysics (NRG™). Axiom is an exclusive provider of this service in North America. This state-of-the-art technology provides an efficient alternative to prior TDEM technologies for mineral exploration. The system utilizes a patented inflatable transmitter loop with a diameter of approximately 20 meters, suspended about 30 meters below the helicopter. The Xcite™ system offers improved signal clarity, enabling the detection of subtle subsurface features. It features a programmable waveform with a fast turn-off time, allowing for flexibility in data acquisition and improved resolution of both shallow and deep 1: Mustang Energy Corp. Spur and 914W Project Location Map1 About the Spur Project The Spur Project comprises nine claims covering 17,929 hectares. It is located just south of the Athabasca Basin in northern Saskatchewan, a region globally renowned for its high-grade uranium deposits. The property is approximately 40 kilometers southeast of Cameco's Key Lake Mill Operation and 20 kilometers southwest of Skyharbour Resources/Terra Clean Energy's Fraser Lakes Zone B deposit (Figure 1). The Spur Project's geological setting combines Proterozoic basement rocks of the Wollaston Group and uraniferous pegmatites, presenting potential for uranium, thorium and rare earth element (REE) exploration. The Spur Project offers lower cost exploration due to the absence of Athabasca Sandstone cover. Adjacent Properties host high-grade surface grab samples including the Pipe Lake Showing with up to 8.0% U₃O₈ (sample # R69-10)2 within a hornblende-rich pegmatite 2.5 km northeast of the Spur Project boundary. The Red October Showing, east of the project boundary, shows grab sample assays of up to 1.93% U (sample # JBELR063)3 within syenite, and an outcrop chip sample through semipelitic gneiss showing 1.34% U (sample # AGELR008)3 over 1 meter. About the 914W Project The 914W Project consists of one claim covering 1,260 hectares. It is situated approximately 48 km southwest of Cameco's Key Lake Operation, offering favourable logistics and access via Highway 914. The 914W Project is positioned within the Western Wollaston Domain, known for unconformity/basement hosted uranium mineralization. The 914W Project hosts favorable geology with local graphite bearing assemblages. Immediately to the north of the 914W property is the Scurry Rainbow Zone E4 and the Don Lake Trenches5, where up to 1,288 ppm U was encountered in drill hole ML-11, and surface prospecting revealed up to 0.64% U3O8 in a trench at Don Lake Zone E4. While historical exploration conducted several geophysical and geological surveys over portions of the property, most of the 914W Project remains underexplored. Mustang sees notable potential for advancing uranium and rare earth element (REE) exploration on this property. References: , SMDI# 1005, SMDI# 5219, SMDI# 1961, SMDI# 1983, Qualifying Statement The scientific and technical information in this release has been reviewed and approved by Lynde Guillaume, Technical Advisor for Mustang Energy, a registered member of the Professional Engineers and Geoscientists of Saskatchewan. Ms. Guillaume is a Qualified Person as defined by National Instrument 43-101. Adjacent Property Disclaimer: This news release includes references with respect to uranium occurrences which are located near the Spur Project and 914W Project, including the Pipe Lake Showing, Red October Showing, Scurry Rainbow Zone E, and Don Lake Zone E. The Company advises that, notwithstanding their proximity of location, discoveries of minerals on nearby properties and any promising results thereof are not necessarily indicative of the mineralization of, or located on the Spur Project and 914W Project, or the Company's ability to commercially exploit the Spur Project or 914W Project, or to locate any commercially exploitable deposits therefrom. The Company cautions investors on relying on this information as the Company has not confirmed the accuracy or reliability of the information. About Mustang Energy Corp.: Mustang is a resource exploration company focused on acquiring and developing high-potential uranium and critical mineral assets. The Company is actively exploring its properties in Northern Saskatchewan, Canada and holds 77,318 hectares in around the Athabasca Basin. Mustang's flagship property, Ford Lake, covers 7,743 hectares in the prolific eastern Athabasca Basin, while its Cigar Lake East and Roughrider South projects span 3,442 hectares to the north and the Spur Project to the south covering 17,929 hectares. Mustang has also established its footprint in the Cluff Lake region of the Athabasca Basin with the Yellowstone Project (21,820 hectares) and further expanded its presence in the south central region of the Athabasca Basin with the Dutton Project (7,633 hectares). For further information, please contact: Mustang Energy Corp. Attention: Nicholas Luksha, CEO and DirectorPhone: (604) 838-0184This news release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as 'intends', 'believes' or 'anticipates', or variations of such words and phrases or statements that certain actions, events or results 'may', 'could', 'should', 'would' or 'occur'. This information and these statements, referred to herein as 'forward‐looking statements', are not historical facts, are made as of the date of this news release and include without limitation, statements regarding discussions of future plans, estimates and forecasts and statements as to management's expectations and intentions with respect to, among other things, the future potential of the mineral claims held by the Company, including the Spur Project and 914W Project; the granting of exploration permits on the Spur Project and 914W Project; the timing for the commencement of the Xcite™ TDEM survey; and the potential capabilities of the Xcite™ TDEM survey. In making the forward-looking statements in this news release, the Company has applied several material assumptions, including without limitation the assumption that the Company will be able to continue exploring its properties given various environmental and economic factors outside of its control and that the results of the Xcite™ TDEM survey will provide the anticipated insights. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws.
