Mustang Minerals Begins Drilling Phase

A Mineral Exploration Company Is Now Conducting...

by Marc Zienkiewicz, Lac du Bonnet Leader

A mineral exploration company conducting operations in the Bird River area has commenced drilling, signalling the latest phase of a project that could lead to a full-blown nickel mine in the area.  On Wednesday December 5th, Mustang Minerals Corp. announced the commencement of exploration drilling at its Maskwa property, located northeast of Lac du Bonnet.

The company also announced the results from drill holes completed earlier in 2007 as part of definition and resource drilling of the Maskwa deposit and provided an update on the progress of the prefeasibility study at Maskwa.  According to a news release sent out by the company, the exploration drill program is targeting nickel mineralization located at the site. The program is anticipated to last several months.

The Maskwa property was developed into an open-pit mine in the 1960s, but was shut down in the ’70s and left mostly dormant until Mustang purchased it in May 2004. A subsequent evaluation of the property conducted in February of last year revealed a substantial mineral resource composed primarily of nickel.  If a new mine does get built at the site, Mustang president Robin Dunbar said the company is looking at an estimated initial capital cost of almost $65 million to get it up and running.  Still, the cost of building a mine is quite cheap considering how much potential revenue is buried there. 
" There’s a couple billion dollars in nickel just sitting there,” Dunbar told the Leader in April.

Editor's Note:

The corporate office of Mustang Minerals is in Toronto.  The Exploration Office is in Pinawa at the W.B. Lewis Business Centre with a field office situated at the Maskwa Mine Site.  Mustang Minerals has several large exploration projects which will be spearheaded out of the Pinawa office.

Back to the Front Page December 2007...