Mustang Energy Commences an Airborne Survey at Spur Project South of the Athabasca Basin, Saskatchewan

Core Insights - Mustang Energy Corp. has initiated an Aerial Electromagnetic Survey (Xcite™ TDEM) over the Spur Project, which is located in a region known for uranium and rare earth elements [1][2] - The survey will cover approximately 10,000 hectares of the claim package that has not been previously surveyed using modern electromagnetic techniques [2] - The Spur Project consists of ten claims covering a total area of 23,680 hectares, situated just south of the Athabasca Basin, a globally recognized area for high-grade uranium deposits [4][6] Company Overview - Mustang Energy Corp. focuses on acquiring and developing high-potential uranium and critical mineral assets, holding a total of 92,211 hectares around the Athabasca Basin [9] - The company has several projects, including the Ford Lake project (7,743 hectares), Cigar Lake East and Roughrider South projects (3,442 hectares), and the Spur Project (23,680 hectares) [9] Survey Technology - The Xcite™ TDEM system is a new generation helicopter-borne time-domain electromagnetic system developed by New Resolution Geophysics, exclusively provided by Axiom Exploration Group in North America [3] - This technology features a patented inflatable transmitter loop with a diameter of approximately 20 meters, suspended about 30 meters below the helicopter, allowing for improved signal clarity and detection of subsurface features [3] Geological Context - The Spur Project's geological setting includes Proterozoic basement rocks and uraniferous pegmatites, indicating potential for uranium, thorium, and rare earth element exploration [4][6] - Adjacent properties have shown high-grade surface grab samples, including up to 8.0% U₃O₈ and 1.93% U, suggesting a promising geological environment for mineralization [6]