Mustang Alliances disclosed additional detail on the company’s exploratory mining program in Central America, where the company is active on five separate concessions in Honduras.
Mustang Alliances has acquired preliminary data on target areas on the five concessions, including mapping of potential deposits. The company has also collected more than 100 samples for further analysis and obtained historical drilling records on the properties.
Mustang Alliances has recently obtained satellite imaging of the properties and used this data to find areas of silica and iron on the concessions. The images correlate with previous indications of minerals and the company plans to re-drill some of these areas to conduct further analysis.
Mustang Alliances has advanced exploration the most at the Potosi concession, and is planning to start a drilling program here in 2012. The company believes that this concession is prospective for both gold and silver deposits.
Mustang Alliances said that the Potosi drilling program will range from 12 to 15 drill holes and total 2,500 meters. The company reported that the areas being drilled share similar geological characteristics with existing productive gold mines in El Salvador and Nicaragua.
For more information on the company, go to www.mustang-gold.com
Let us hear your thoughts below:
