- Heavy mineral sands explorer MRG Metals (MRQ) is eyeing out a new round of aircore drilling at its Koko Massava project in Mozambique
- This program is in response to strong results from auger drilling at the Poiombo target
- Auger drilling is a low-cost, shallow form of drilling designed for exploration rather than extraction
- The drilling revealed some near-surface high-grade heavy mineral sands mineralisation
- Chairman Andrew Van Der Zwan said so far, Koko Massava has exceeded the company’s highest expectations
- Shares in MRG have gained 12.5 per cent and are trading at 0.9 cents each
Heavy mineral sands (HMS) explorer MRG Metals (MRQ) is rushing to kick off some aircore drilling in Mozambique after a strong bout of auger results.
Auger drilling is a low-cost, shallow form of drilling generally designed to give a better understanding of what’s beneath the surface than to actually rake in ore samples for an explorer.
In MRG’s case, the auger drilling was launched in June 2019 at its Poiombo target in the Koko Massava project to explore the extent of previously-defined high-grade mineralisation.
MRG said the initial results from the drilling have been “very encouraging” and revealed some near-surface high-grade heavy mineral sand mineralisation at the target.
Subsequently, the company said the auger drilling results compel “immediate” aircore drilling. A maiden aircore drill program is now being drawn up and will begin in mid-to-late March — as soon as field preparation is complete and the drill rig is returned to Mozambique from a different assignment.
The results which have prompted the new drilling plan include nine metres at 6.64 per cent total heavy mineral (THM), 12 metres at 5.8 per cent visual estimated THM, and 12 metres at 4.9 per cent visual estimated THM.
Further, of the 52 auger holes drilled, 28 of them had an average visual estimated THM of higher than three per cent from ranges between 4.5 metres and 12 metres.
MRG Chairman Andrew Van Der Zwan made some bold claims that high tonnage and total heavy mineral grades are likely to be discovered in the project area.
“With the preliminary concept analysis at Koko Massava showing in excess of two billion tonnes at around 4.5 per cent THM, with likelihood of substantial tonnage above 6 per cent, 7 per cent and even 8 per cent, we now focus on a very targeted exploration plan across our remaining targets to not only increase the massive tonnage already identified but look to even higher grades,” Andrew said.
“Koko Massava has exceeded our highest expectations and we anticipate the upcoming Mineral Resource Estimation will confirm our beliefs that Koko Massava is a potential standalone economic asset,” he said.
Shares in MRG Metals have gained 12.5 per cent and are trading at 0.9 cents each at 2:26 pm AEDT.