Mustang Resources: Maiden Inferred Resource Estimate Completed for Caula Graphite Project

Mustang Resources (ASX: MUS) is pleased to announce its maiden JORC Compliant Mineral Inferred Resource estimate for the Caula Graphite Deposit (Licence 6678L).
The Inferred Mineral Resource totals 5.4 million tonnes at an average grade of 13.0% TGC for 702,600 tonnes of contained graphite. The result confirms Caula’s status as one of the highest-grade graphite deposits in the world.
Mustang Managing Director Christiaan Jordaan said the maiden Inferred Mineral Resource estimate for Caula highlighted the project’s outstanding scope to create future value for shareholders:

“This result is based on just a small portion of the total target area.
The mineralisation remains open in all directions and there is excellent potential to grow the deposit significantly with a third round of drilling, particularly along the large-scale geophysical anomaly which has been defined. We will start this follow-up drilling in the next few weeks.”

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