HMS Wins Continue for MRG Metals, Auger Drilling at Siaia Defines New HMS Target

Summary

  • MRG Metals has been discovering globally significant mineral resources in the form of heavy mineral sands at Mozambique, which hosts the largest HMS titanium feedstock resources, globally
  • Auger drilling at one of its targets, Siaia anomaly, has defined a high-grade HMS zone, >5% visual THM
  • Reconnaissance Auger drilling continues on other anomalies and MRG Metals looks forward to having its discoveries transferred to production phase

The ability to maximise probability of discovering globally significant mineral resources is a key objective of exploration companies. Well adhering to this objective, MRG Metals Limited (ASX:MRQ) has been exploring its Corridor projects at a district scale, situated in the world class HMS enriched region of Mozambique. The Company is a cost effective, technically driven explorer with a lucrative portfolio of 13 identified tenements at the projects.

GOOD READ- MRG Metals Riding High On ASX, World-Class HMS District in Making

On 27 May 2020, the Company provided an impressive update from the on-going hand Auger drilling on the Corridor South project at Siaia anomaly, where drill results have defined a high-grade HMS zone, more than 5 % visual THM.

Siaia Anomaly Drilling Results

The three shallow Auger holes drilled at Siaia (holes 20CSHA399-401) demonstrated uncut, average downhole visual estimated grades of over 3.5 % THM. They ended in sample intervals with estimated (visual) THM grades of more than 4 %. More very encouraging high-grade HMS mineralisation has been provided by the new visual results of the drilling (wide-spaced), from the holes.

Let us cast an eye on the specific drill hole results-

Reconnaissance Auger Drilling Details

The relatively wide-spaced reconnaissance hand Auger drilling at the Siaia anomaly was devised to further explore the revised and prioritized magnetic and radiometric anomalies within the Corridor HMS district. Three drill holes were spaced at 500 m / 1000 m stations alongside drill lines that were 1000 m apart. Hole depth range varied from 10.5 m–12 m, with average depth being 11.5 m.

The drilling included three shallow Auger holes comprising 34.5 m with the collection of 23 primary samples at 1.5 m intervals, with each sample interval panned to estimate a visual percent THM grade.

From Mozambique, drill samples are split for export for heavy liquid separation and quantitative percent THM determination to be conducted in an HMS analysis lab. Duplicate samples are created and inserted in the field at a frequency of 1 per 25 primary samples, and standard reference material samples are inserted in the field at a frequency of 1 per 50 primary samples.

About Siaia Anomaly

The Siaia Anomaly had been on the list of future targets for MRG Metals. It comprises a zone of HMS mineralisation, at more than 3.5 % estimated visual THM. The current footprint of the anomaly is around 1.4 km X 1.1 km, with mineralisation still open in all directions.

MRG Metals believes that the Limpopo River valley (valley) constrains the mineralisation on the west side. However, additional follow-up Auger drilling is required to further define the mineralisation outside the village boundary along the flank of the valley. This will help verifying any potential relationship with the mineralisation at the large Poiombo target to the north, as the new zone of HMS mineralisation at Siaia is nearly 1 km south of Poiombo.

The Company notified that the Siaia HMS mineralisation is contiguous with the Poiombo target mineralisation, using a 3.5% visual THM cut-off for average downhole grade.

ALSO READ- Exclusive Interview Excerpts from MRG Metals

Management View & Events in Store

Chairman, Mr Andrew Van Der Zwan stated that it is pleasing that the Siaia target has achieved high grade results from the initial Auger program, at a time when the Company’s exploration program continues in Corridor South with several Auger results pending.

Shortly, assay results and a further update from Poiombo are likely to arrive which have the potential to build several large zones that will be greater than 2-4 sq km of high grade THM from surface, down to 12 m (yet to be tested at depth).

The Company has also decided to conduct mineral assemblage analysis on these zones to support in setting priorities of Aircore drilling, based on number of successful zones identified.

While reconnaissance Auger drilling continues on other anomalies in the Corridor HMS district, MRG Metals remains open to potential interest from established industry companies who have the financial capacity and familiarity to partner with and take the Company’s discoveries to production phase.

MRQ is trading at $0.006 on 28 May 2020 (AEST: 12:58 pm) and has delivered returns of 20% in the past one-year.

MUST WATCH! Introducing MRG Metals


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