Croxall (Mustang) Project:
Drilling conducted on the Croxall property in 2011 provided encouraging results and as a result, further work has been proposed for this property.
Mineralization, which is consistent with deposits in the region, is comprised of locally massive to semi-massive pyrrhotite, pentlandite and chalcopyrite intermixed with brecciated cherty exhalatives and sulphide facies iron formation. The intersection of nickeliferous sulphides grading laterally with sulphide facies iron formation is significant as these deposits can grade laterally into more massive Nickel-Copper bearing sulphides.
The future drill program will test down plunge continuity of the recent drill intercepts and target a number of airborne TEM conductors proximal to the discovery drill hole outlined by Mustang Minerals in 2005.
In 2005, Mustang Minerals drilled a number of airborne EM targets approximately 1.5 km northwest of the Redstone Deposit and intersected 0.63% Ni over a drilled width of 3.34 meters. Additional drilling intersected anomalous nickel mineralization approximately 140 meters to the east of this intercept. Further follow up drilling is recommended on strike of the intercept with tighter spaced drilling. A follow up drill hole in 2007, drilled downdip of the nickel intercept retrieved only anomalous nickel mineralization. The nickeliferous intercept is in close proximity to existing airborne EM conductors.
Project is currently on care and maintenance. Additional exploration will be undertaken should long term nickel-price improve.