Mustang Energy Corp. purchased the Konigsstuhl project, which spans 5,228 hectares in Northern Saskatchewan's eastern Athabasca basin. The Konigsstuhl project, acquired through cost-effective staking, adds five 100-percent-owned mineral claims to Mustang's growing portfolio of prospective uranium assets in one of the world's finest mining zones.
Overview of Mustang Energy's newly acquired claims Königsstuhl Project. Image Credit: Mustang Energy Corp.
Project Highlights:
- Location: The project is around 25 km northwest of Cameco’s McArthur River mine and 45 km southwest of its Cigar Lake mine
- Adjacent property mineralization:
- Drill hole WMA-010 encountered 0.29 percent U3O8 (triuranium octoxide) over 0.5 m from 881.3 to 881.8 m, along with anomalous lead, vanadium, cobalt, nickel, and arsenic in a bleached, clay-altered fault in graphitic pelite (SMDI No. 3553)
- A bleached, clay-altered fault in graphitic pelite (SMDI No. 3553) with anomalous lead, vanadium, cobalt, nickel, and arsenic impacted drill hole WMA-010, which intersected 0.29 percent U3O8 (triuranium octoxide) across 0.5 m from 881.3 to 881.8 m
- Drill hole CL-138 intersected 547 parts per million uranium (partial) over 0.5 m from 609.3 to 609.8 m in pelite beneath the unconformity at 606.6 m
- 0.2 m from 1016 m to 1016.2 m, 4 m below the Athabasca unconformity linked to a clay-filled fracture in hematite-chlorite pale weathered semi-pelite (SMDI No. 3551), intersected by drill hole WMA-004 and contained 0.28 percent U3O8;
- Previous exploration: The site has considerable high-resolution geophysical coverage, which includes a 2011 ZTEM (Z-axis tipper electromagnetic) survey over the southern claim area, a 2005 Megatem survey across the northern claim block, and a 2005 radiometric survey of the whole property
We are pleased to add the Konigsstuhl project to our growing portfolio of uranium assets in the Athabasca basin.By strategically claim staking, we continue to secure 100-per-cent ownership of promising properties while keeping costs low. With a strong technical team and access to an exceptional geophysical data set, we are looking to advance exploration efforts and generate new opportunities for discovery on this underexplored property.
Nick Luksha, Chief Executive Officer, Mustang Energy Corp.
Project Geology and Mineralization
The Konigsstuhl project is supported by basement rocks composed of Archean granitoids and Lower Proterozoic (Trans-Hudson) Wollaston and Mudjatik group metamorphic rock. These metamorphic rocks consist of supracrustal rocks such as psammites, pelites, minor greenstones, and related intrusions. Overlying these basement rocks are an estimated 700 to 900 meters of flat-lying Athabasca sandstones and conglomerates.
The geological setting of the Konigsstuhl project suggests the possibility of discovering unconformity-style and basement-hosted uranium mineralization, similar to that seen at Cigar Lake and McArthur River. The property includes prospective EM conductors and mapped faults discovered during prior exploration, which act as both conduits and traps for uranium mineralization.
Strategic Importance
The acquisition of the Konigsstuhl project is consistent with Mustang's strategy of developing a strong portfolio of uranium assets in the Athabasca basin, which is noted for its high-grade uranium deposits. As global energy markets transition toward low-carbon solutions, nuclear energy remains a key component of sustainable power generation, fueling demand for uranium supplies. Mustang remains committed to carrying out its exploration strategy responsibly, positively impacting local communities, and maintaining environmental sustainability throughout all of its operations.