- MRG Metals (MRQ) has received more pleasing results from drilling at the Nhacutse prospect which is part of the Corridor South Project in Mozambique
- The aircore drilling program further confirmed the potential for high-grade total heavy mineral (THM) values at the prospect
- Results returned grades of up to 5.99 per cent and 10.03 per cent THM
- Importantly, drilling has provided confidence in three very high-grade zones which cover 2.5 square kilometres
- Overall, the miner believes it is on track of meeting its exploration goal of delivering 100 million tonnes of mineralised sand assaying over 6 per cent THM
- MRG Metals is up 15.4 per cent on the back of these results, with shares trading at 1.5 cents
MRG Metals (MRQ) has received more high-grade results from aircore drilling at the Nhacutse prospect which is part of the Corridor South Project in Mozambique.
Overall, 10 holes, for 342 metres, were drilled over October and November and 114 samples were sent for analysis.
Pleasingly, the program has further confirmed the high-grade total heavy mineral (THM) values within the Nhacutse prospect.
Of the 10 holes drilled, seven delivered average grades of more than 4 per cent THM.
Best results include 42 metres at 5.4 per cent THM including 36 metres at 5.99 per cent THM from surface, with the highest individual three-metre interval grade of 10.03 per cent THM.
Additional results include 30 metres at 5.82 per cent THM and 42 metres at 5.08 per cent THM including 39 metres at 5.39 per cent THM.
“The results received from our latest drilling at the Nhacutse Project has continued to deliver excellent findings with consistent assays, averaging over 5 per cent THM from surface to depths up to 42 metres that still remain open,” Chairman Andrew Van Der Zwan said.
Importantly, drilling has also given MRG more confidence in three very high-grade zones.
These three zones have a combined surface footprint of more than 2.5 square kilometres and represent the potential for MRG to reach its goal of delivering more than 100 million tonnes of high-grade mineralised sand assaying over 6 per cent THM.
MRG Metals is up 15.4 per cent on the back of these results, with shares trading at 1.5 cents at 12:58 pm AEDT.