Mustang chairman Ian Daymond becomes the interim executive chairman until a new managing director is appointed, and the board has commenced a search.
Daymond commented: "Mustang has been transformed under Christiaan’s leadership.
"He has worked successfully and incredibly hard on advancing the company’s mineral projects.
"On behalf of the board, I thank Christiaan for his immense efforts and dedication to Mustang Resources.
"The company continues to receive valuable feedback from the first ruby auction and plans to make a further announcement later this week regarding future ruby exploration and marketing strategies."
Jordaan added: "I am proud to have led Mustang Resources as it grew from a junior exploration company to becoming a new entrant in the ruby sector in such a very short period and to having one of the world’s highest grade graphite projects, the Caula Graphite Project, with the recently announced maiden JORC Inferred Mineral Resource."