06:38 AM EDT, 03/24/2025 (MT Newswires) -- Mustang Energy ( MECPF ) , which gained 5.7% last Friday, over the weekend announced that it has engaged Axiom Exploration Group to conduct an Aerial Electromagnetic Survey with Radiometrics over its Spur Project located south of the Athabasca Basin, Saskatchewan.

The company in a statement anticipates that the survey will commence in early May 2025 and encompass the portion of the claim package which has not been covered by modern day electromagnetic (EM) survey techniques. The airborne survey aims to precisely locate EM and radiometric anomalies, and aid in geological interpretations on the property advancing exploration targeting.

In addition, Mustang has applied for exploration permits on the Spur Project and the company's 914W Project. The permit applications include ground based mineral exploration activities such as trail construction, line-cutting, ground geophysical surveys, and diamond drilling. Subject to obtaining the required permits and approvals, Mustang plans to initiate exploration activities aimed at further assessing the viability of these projects, as well as to continue consultation with local communities.