Pilot

Location : Nevada, U.S.A.
Mineral : copper & Gold

The Pilot Copper-Gold Porphyry Project was staked by Almadex during its U.S. generative program in 2023. The project covers a 1.0 x 2.0 km area of exposed intense hydrothermal alteration typical of a porphyry lithocap environment.

Mustang has entered into an Option-Joint Venture agreement with Almadex to acquire 60% interest in the Property. 

Location:

The Property lies within Mineral County, Nevada, on federal lands managed by the Bureau of Land Management (BLM), roughly 65 kilometres northwest of Tonopah.

Geology:

The Pilot Project covers an area of hydrothermal alteration developed in folded sedimentary rocks intruded by tonalite porphyry bodies exposed in drainages. In 2024 the company conducted extensive alteration and geologic mapping along with soil sampling, IP geophysics and a drone-based magnetics survey. The alteration is dominated by pyrophyllite and white mica. This alteration pattern is considered to be proximal to porphyry mineralisation. The mapping identified several outcrops with evidence of porphyry-style veining.

This includes veining interpreted to represent early magnetite, A-type, syntaxial B-veins and late stage D-type quartz-sericite-pyrite veining. The soil sampling program defined a broad zone of anomalous copper-molybdenum and gold coincident with high chargeability from the IP survey and a distinct magnetic high.

Exploration

Exploration activities carried out on the Property by Almadex personnel commenced in 2023 and have included rock and soil sampling, induced polarization (IP) geophysical surveys, an airborne magnetic survey by unmanned aerial vehicle (UAV), geological mapping, and alteration mapping utilizing a Terraspec® instrument.

The UAV magnetic survey identified a distinct 750 m x 200 m north-south magnetic high broadly correlating with elevated Cu, Au and Ag in soils, with elevated Mo concentrated in the magnetic lows. IP survey results from lines running parallel to the magnetic high revealed chargeability highs at depth, correlating to outcrops on surface of tonalite intrusives with porphyry-style veining and pyrophyllite alteration.

Extensive pyrophyllite alteration and exposed porphyry veining suggests poprphyry very near surface.

Red circles indicate areas of historic turquoise mine shaft activity along general E-W trend of pyrophyllite alteration.

ROCKS

Supergene chalcocite and Cu oxides in tonalite porphyry.