Mustang, Falconbridge target East Bull

Partners Mustang Minerals (YMU-V) and Falconbridge (FL-T) plan on drill testing a zone of surface platinum-group-metal (PGM) mineralization on the eastern portion of the East Bull Lake intrusive body west of Sudbury, Ontario.

Slated to begin in mid-July, the drill program is aimed at mineralization stretching over a strike length of 1 km, to a depth of about 100 metres. The target is bulk tonnage, open-pittable deposit.

Earlier this year, continuous channel sampling over a 350-metre strike length cut two parallel zones. The current programs; initial drill holes are aimed to undercut targets where channel samples returned 1.92 grams combined platinum-palladium-gold (PGM) over 15.7 metres, 1.62 gram PGM over 15 metre, 1 grams PGM over 24 metres and 0.89 gram over 7.7 metres.

Mineralization encountered in the East Bull Lake intrusion averages 2.5-to-1 palladium to platinum, with minor gold, copper and nickel credits.

The property covers about 90% of the 22-km-long East Bull Lake gabbro-anorthosite intrusive body. Falconbridge is earning a half-interest in the property by spending $5 million on exploration over four years. The major also purchased $1 million worth of Mustang treasury shares as part of the deal.

Mustang’s exploration efforts at East Bull have so far focused along the margin (or base) of East Bull Lake, where it contacts the surrounding country rock. Drilling has confirmed the prospective nature of the contact zone for metal enrichment.