Failing to turn up any significant alteration halos around seven airborne geophysical anomalies,
In all, the company spent more than $350,000 on exploration, including ground geophysics and 11 drill holes totalling 1,335 metres.
Two of the holes returned upwards of 1.5 metres of sulphides grading as much as 1.07% copper, 0.31% zinc, 0.36% lead and 0.23% cobalt, plus silver and gold credits.
Meanwhile, about 100 km southeast of Timmins, Mustang has optioned the Bannockburn nickel project from Outokumpu Mines.
Mustang can acquire the property by spending $350,000 on exploration and paying $100,000 in cash. The property is subject to an underlying net smelter royalty.
Outokumpu outlined Kambalda-style massive and heavily disseminated sulphides in footwall embayments at the base of komatiitic flows on the property. The Finnish company also outlined mineralization similar to Mt. Keith-style disseminated sulphide mineralization.
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