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The Mustang Project comprises two non-contiguous blocks of claim in Central Newfoundland. The eastern claim block hosts the “Outflow Prospect”, comprised of the Mustang and Piper mineralized zones, located adjacent to New Found Gold Corp who recently announced an intersect of 92.86 g/t Au over 19.0 meters.*
The eastern claim block is contiguous to New Found Gold’s Queensway Gold Project and approximately 5 km from New Found Gold’s discovery hole. The western claim block comprises approximately 150 hectares and is located approximately 2.2 kilometers west-northwest of the eastern claims. The claim blocks are located approximately 6.5 km south-southeast of the village of Glenwood, with abandoned logging road accessing the area. Glenwood is located on the Trans-Canada Highway 25 kilometers west of an international airport in Gander.
Gold mineralization was discovered at the Outflow Prospect in 1987 by Noranda Exploration Company Limited, whom completed geologic mapping, trenching and shallow (average 84 m) diamond drilling (12 holes totaling 1007.6 m). Highest gold values, up to 28 grams per tonne gold (g/t Au) over 0.8 metres, occur in dark gray hydrobreccia units, associated with higher arsenopyrite concentrations. Selected diamond-drill assay results from Noranda’s drill program include 1.27 g/t Au over 11.3 m, 0.67 g/t Au over 18.3 m and 0.92 g/t Au over 9.0 m.*
*Gold values on adjacent properties in similar rocks, and assays based on historical work, are not representative of the mineralization on the property, have not been verified, and should not be relied upon.
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