- MRG Metals (MRQ) submits its mining licence applications (MLAs) for the company’s Corridor Central and Corridor South heavy mineral sands licences, Mozambique
- The MLAs follow after the company released its initial results from its recent scoping and preliminary economic analysis which indicated higher value products
- The company will focus future exploration activities within the corridor on the very high valuable heavy mineral area discovered east of a very strong lithological boundary
- Further exploration will then aim to deliver these deposits for a mineral resource estimate, with the possibility of significantly improving the economics of the projects
- Shares in MRG are up 20 per cent to end the day at 0.6 cents
MRG Metals (MRQ) has submitted its mining licence applications (MLAs) for the company’s Corridor Central and Corridor South heavy mineral sands (HMS) licences in Mozambique.
The applications follow the company releasing initial results from its recent scoping and preliminary economic analysis which indicated higher value products.
The submission was accepted by the National Institute of Mines (INAMI), with subsequent renumbered by INAMI of Corridor Central to 11142C and Corridor South to 11137C.
Chair Andrew Van Der Zwan said the company made its application based on the data received, confirming a low cost structure and potential mining operation with mineralisation from surface.
“On this basis the board decided to progress to mining license application as it is well understood that the process can take a considerable amount of time and we wanted to get ahead of the curve.
“We anticipate announcing the scoping study preliminary economics shortly and these MLAs marks a significant period in our vision to move from exploration to project development at Corridor while understanding considerable exploration upside remains.”
The company will focus future exploration activities within the corridor projects on the very high valuable heavy mineral area discovered east of a very strong lithological boundary.
Results from a recent reconnaissance aircore drilling program, and mineralogical studies, are expected soon.
Further exploration will then aim to deliver these deposits for a mineral resource estimate, with the possibility of significantly improving the economics of the projects.
Shares in MRG were up 20 per cent to end the day at 0.6 cents.