• Mustang’s River Valley Property covers over 550 claims in the River Valley Intrusion. The property is immediately south of the PFN/Amplats River Valley Joint Venture.
  
• Implats can earn a 60% interest in the property by funding C$6 million of exploration expenditures over 5 years and making cash payments to Mustang of $255,000 over 4 years. The joint venture deal was signed in December 1999. Future exploration expenditures will be funded by Mustang Minerals and will dilute the interest of Implats in the River Valley Property. Implats owns an approximately 38% in the Property.
  
  

Historical Work

• The majority of previous exploration work on the River Valley intrusion was by companies searching for large nickel-copper deposits similar to the deposits in the Sudbury Igneous Complex.
• Several pits and trenches along the margins of the intrusion yielded copper up to 25% per tonne and PGM's up to 10 grams per tonne. (Source MNDM assessment records)
• No targeted drilling for PGM dominant deposits has been documented at River Valley.
• The River Valley intrusion has been identified by researchers as part of the Huronian-Nipissing Magmatic Belt. (Peck et al 1990-1995)
• The River Valley intrusion is an early Proterozoic layered gabbro-anorthosite intrusion hosting platinum, palladium, rhodium, gold, copper and nickel.
• PGM and copper mineralization have been identified within the fertile PGM host rock associated along the margin of the intrusion. Mustang controls approximately 28km of total strike length along this margin.
  
• The current exploration model is "contact style" magmatic sulphide mineralization, similar to the Pacific North West Capital/Implats discovery in the River Valley.

Exploration by Mustang

• The joint venture has completed a comprehensive first stage exploration program consisting of mapping, sampling, ground magnetics and induced polarization ( IP ) surveys. This program was completed during the period October 1999 to October 2000 and resulted in the identification of drill targets along the north and south contacts of the intrusion.
  
• The exploration target is "contact style" magmatic sulphide mineralization with palladium as the principal metal credit.
  
• A two phase 17,000 drill program commenced mid November 2000. 12,000 meters of drilling are planned along a 4.5 km portion of the north contact (see map) of the intrusion and 5,000 meters are planned along the south contact of the intrusion ( 5,000 meters)
  
• The drill program will take approximately 4 months to complete
• A follow-up program of ground geophysics over additional areas of interest towards the interior of the intrusion will be completed during the winter months.
  
  

North Grid Zone Map: For a higher resolution map, click here.