07:33 AM EDT, 05/05/2025 (MT Newswires) -- Mustang Energy ( MECPF ) , which rose 18% on Friday, over the weekend provided an update on its ongoing geophysical reprocessing, reinterpretation and targeting work in the Athabasca Basin.

A statement noted that the integrated interpretation revealed multiple areas of interest, coincident EM-magnetic-low anomalies characteristic of basement-hosted unconformity-related uranium deposits, over Mustang's Athabasca Basin Uranium portfolio and the areas of interest identified were in its 914W Project, Spur Project, Ford Lake and Cigar Lake East.

The company added that ongoing interpretation is also underway on newly acquired airborne geophysical surveys which include a MobileMT survey recently completed over the Yellowstone Project and an Xcite TDEM survey over the Dutton Project. Further analysis will also be conducted on the upcoming Xcite TDEM survey with radiometric data acquisition planned for the Spur Project in May. The company expects these datasets to complement the historical compilation work and enhance its ability to prioritize drill-ready targets.