Mustang Resources Ltd’s (ASX:MUS) strategy to develop the Caula Vanadium-Graphite Project in Mozambique is on track with the appointment of Bara International to undertake the scoping study.
Bara is an engineering consultancy based in Johannesburg, South Africa with extensive experience in African graphite and vanadium.
Mustang managing director Dr. Bernard Olivier said: “This appointment is another key step in our strategy to be in production at Caula by the middle of next year.
“We have multiple workstreams underway to deliver a maiden vanadium JORC Resource and an upgraded graphite resource along with metallurgical testing for an integrated vanadium and graphite processing flowsheet.
“We are also awaiting the results of ore-sorting testwork in Australia.”
READ: Mustang Resources one of closest vanadium-graphite developers to achieving cash flows
The scoping study expected to be completed by end-July 2018, putting the project on track for production and cashflow by mid-2019
Key impending results and milestones for Caula include:
• Imminent return of all graphite and vanadium assays from the 2017 scoping study drilling campaign;
• Initial graphite and vanadium ore-sorting and ore upgrade results – expected early June 2018;
• Additional metallurgical test work on graphite and first vanadium metallurgical results – expected in June 2018;
• Maiden JORC compliant vanadium resource based on the combined 2016 and 2017 scoping study drilling results – expected by end-June 2018;
• Updated graphite resource estimate – expected by end June 2018;
• Completion of the geological resource model and conceptual mine design for an integrated vanadium and graphite processing plant – expected July 2018; and
• Commencement of definitive feasibility study (DFS) work program.