Mustang Minerals has updated the mineral reserve estimate for its Makwa nickel project northeast of Winnipeg. The new number includes proven and probable reserves of 9.9 million tonnes grading 0.541% Ni, 0.113% Cu, 0.094 g/t Pl and 0.339 g/t Pd.

The company said that the average net smelter return value of the reserves is calculated as CAD 60.21 of which nickel contributes 87%, copper 7%, cobalt, 2%, platinum 1% and palladium 3%. A milling rate of 1.0 million tonnes per annum over 9.8 years is planned.

Mustang said that the Makwa project could expand by shipping ore from its nearby Mayville copper nickel property. The Mayville M2 zone resource includes 21.9 million tonnes grading 0.20% Ni and 0.48% Cu.

(Sourced from www.MustangMinerals.com)