Mustang Energy stakes two new Newfoundland projects
Executive Summary
- Mustang Energy Corp. staked two new mineral exploration properties in Newfoundland and Labrador—Onyx uranium project (3,575 ha) and Bridal Veil copper‑silver project (300 ha)—marking its first entry into Eastern Canada.
- The company completed extra‑provincial registration, enabling it to conduct business and exploration in the province.
- Mustang appointed Zack Luksha as cybersecurity adviser; he received 200,000 stock options at $0.09 per share, exercisable over three years.
Key Details
- Onyx Uranium Project – 143 claims covering ~3,575 ha in southern Newfoundland (Mineral Licence No. 039098M).
- Located ~40 km NE of Burgeo within the Hermitage Flexure of the Gander Tectonic zone.
- Adjacent to historic high‑grade uranium showings: He26 (up to 2.79 % U₃O₈), Doucette7 (1.32 % U₃O₈), White Bear No. 38 (0.75 % U₃O₈).
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Mustang will re‑interpret historic geochemical/geophysical data and conduct modern field reconnaissance to prioritize targets.
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Bridal Veil Copper‑Silver Project – 100 % owned, ~300 ha in central Newfoundland (NTS 2D/15), 10 km east of Gander.
- Historical grab samples: up to 9.4 % Cu, 10.2 % Pb, 242 g/t Ag, 3.75 g/t Au.
- Confirmation sampling: up to 3.47 % Cu, 19.34 g/t Ag, 0.16 g/t Au.
- Shear‑hosted quartz vein arrays up to 5 m thick with chalcopyrite, galena, pyrite.
- Excellent infrastructure: Trans‑Canada Highway and Newfoundland Trailway cross the property; power/services nearby in Gander.
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Planned work: soil geochemistry, prospecting, targeted drilling, and drilling of untested anomalies.
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Corporate Expansion – Completed extra‑provincial registration for Newfoundland and Labrador, authorizing business operations there.
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Security Adviser Appointment – Zack Luksha hired as cybersecurity adviser.
- Background: information security analyst (Stecmell Technologies), policy/data analyst (Global Affairs Canada) with RCMP‑approved clearance.
- Compensation: 200,000 stock options to purchase up to 200,000 common shares at $0.09 per share, exercisable over three years from grant date.
Notable Quotes
“The staking of both the Onyx and Bridal Veil properties represents an important milestone in Mustang's growth,” said Nicholas Luksha, CEO of Mustang Energy. “We are diversifying our exploration pipeline with projects that offer strong geological fundamentals, excellent infrastructure and supportive jurisdictions.”