- MRG Metals (MRQ) has identified visual signs of heavy mineral sands during initial exploration efforts the Marao prospect in Mozambique
- The explorer has laid plans to drill 395 holes throughout the programme and has so far executed 25
- Early visual estimates from hand auger drills include 13.5 metres at 5.1 per cent total heavy mineral and 13.5 metres at 4.3 per cent total heavy mineral
- It’s still early days however, with further investigations required to further define and quantify the valuable heavy mineral content of the concentrate
- MRG Metals shares are down 4.35 per cent following the announcement, trading at 1.1 cent
MRG Metals (MRQ) has identified visual signs of heavy mineral sands during initial exploration efforts the Marao prospect in Mozambique.
The explorer commenced initial reconnaissance grid auger drilling in February 25 and has since executed 25 holes of the planned 395 hole programme.
So far, the company has managed to identify a heavy mineral sands (HMS) target from nine auger holes drilled to 13.5 meters. According to MRG, the target has a surface footprint of more than five square kilometres of visually estimated total heavy mineral.
Significant total heavy mineral visual estimates from hand auger drills include 13.5 metres at 5.1 per cent total heavy mineral and 13.5 metres at 4.3 per cent total heavy mineral.
It’s still early days, however, with additional mineral assemblage investigations to be conducted to further define and quantify the valuable heavy mineral content of the concentrate.
Open file reports reveal Rio Tinto had undertaken shallow exploration activities on a small portion of the Marao project, but MRG indicates no other work appears to have been undertaken on the project beyond that.
In other news, the company has lined up aircore infill drilling at MRG’s Nhacutse high-grade target to be completed during this week, with the drill rig then moving to a 30 drill hole infill aircore drilling program at the Koko Massava target.
“These early results from Marao are very promising indeed and certainly point to the potential of more targets being identified in this very exciting project,” MRG Metals chairman Andrew Van Der Zwan commented.
MRG Metals shares are down 4.35 per cent following the announcement, trading at 1.1 cents at 11:57 am AEDT.