Mustang unearths nickel showing near Timmins

Follow-up stripping of an electromagnetic anomaly has revealed a rich-nickel showing at the Bannockburn property, about 100 km southeast of Timmins, Ont.

Mustang Minerals (MUM-V), which can earn a 100% interest in the property, describes the showing as weathered and oxidized massive sulphide lenses ranging from 0.5 to 3.5 metres thick. The host is a komatite flow unit that strikes eastwards and dips vertically.

Grab samples of 15 metres of strike yielded 0.07-3.21% nickel plus 0.03-0.37% copper and 0.01-0.09% cobalt. Sampling of another 110 metres of mineralized exposure is under way.

Bannockburn now hosts four massive sulphide showings in komatiite, of which three were discovered by Finnish miner Outukumpu before an exploration moratorium was placed on most of the property in the 1970s. The moratorium was lifted in 1995.

Thalweg and Rahn Lake are described as Kambalda-type targets and Bannockburn as a Mt. Keith-type target. Both Kambalda and Mt. Keith are in Western Australia and considered models of massive sulphide deposits in komatiite.

To earn its stake, Mustang must pay $60,000 and spend $350,000 on exploration. The vendors retain a 2% net smelter return royalty.