Impressive! MRG Metals’ Poiombo Delivers Best Overall Aircore Drill Hole Results

  • Jun 19, 2020 AEST
  • Team Kalkine
Impressive! MRG Metals’ Poiombo Delivers Best Overall Aircore Drill Hole Results

Summary

  • Heavy Mineral Sands are of economic importance with extensive use in paint, chemical, aerospace, foundry industries- to name a few. Global demand has risen, with the area garnering interest amid miners, investors, and businesses
  • MRG Metals is currently developing the Corridor Projects HMS in Mozambique. With a portfolio of 13 high calibre identified targets, it has been successful in making significant discoveries of high grade Total Heavy Mineral over a large area from the surface 
  • Management expresses that prioritisation of the resultant high-grade auger targets for Aircore drilling is proving to be a good problem to have

As it continues to explore the Heavy Mineral Sands (HMS)-enriched Corridor projects at a district scale in the world-class region of Mozambique, MRG Metals Limited (ASX:MRQ) has achieved a lot in just over 12 months of exploration. Its achievements have hit another milestone as the Company revealed first laboratory assay results for 10 reconnaissance Aircore drill holes on the Poiombo target within the Corridor South tenement.

A remarkable fact is that these results are the best overall Aircore drill hole results for the entire Corridor Central and Corridor South project areas. This further translates into the fact that after Aircore drilling & MRE at Koko Massava (MRQ’s first target)  which needed to be drilled extensively to define a maiden JORC Resource received great results of grade, massive quantity and still has upside potential. Poiombo is a targeted drilling follow up from Auger program, which has achieved very high grades with much more potential.

Best Aircore Sample Laboratory Results from Poiombo

The new laboratory assays of Aircore samples have delivered excellent high-grade HMS intersections over significant lateral and vertical extents. They highlight a strong continuity of high-grade HMS mineralisation across strike and laterally at Poiombo and demonstrate mineralisation beginning near surface, continuing to the end of hole in several cases.

Overall, Aircore holes (20CSAC348–357) attained an uncut average downhole grade range of 1.79%–7.09% THM, from hole depths of that range from 36–51m. 60% holes attained uncut downhole averages >4% THM with 70% of holes being collared in grades >3% THM.

Let us cast an eye on results from the top three holes-

 

 

Another significant hole that should be noted was 20CSA352 which delivered 36M @ 5.12% THM (0-36m), including 12.0m @ 7.10% THM (9-21m).

Results Takeaways from Poiombo

The results continue to authenticate potential for the definition of yet another significant high-grade HMS mineral resource.

  • The best aircore hole, 20CSAC355 depicted slime content range of 14.04–31.64%, with an average of 20.08%, an oversize component of 1.88% (average)
  • The second most significant hole, 20CSAC349, depicted slime values average of 16.65% and oversize average of 0.36%
  • Overall slime content from the 10 Aircore holes (140 samples) shows average value to be moderate, at 17.95%, with a range of 3.75%–37.07%
  • Oversize remains low, with an average of 1.00% and range 0.0%–5.97%
  • 70% of holes were collared (0-3m) in sand with grades >3.0% THM
  • Surface footprint of main zone of high grade HMS mineralisation >3% THM is up to 5km in strike and 2.7km in width
  • There are at least three high grade zones >5% THM defined by the laboratory data in the southwest, centre and southeast of the broader mineralised area.
  • Mineralisation remains open to the northwest and southeast, but is limited to the southwest by the Limpopo River valley and the northeast by a basinal area

 

Management View

Chairman, Mr Andrew Van Der Zwan proclaims that the exceptional assay results from Poiombo, confirm what the Company had hoped for- a substantial, very high grade zone approaching 10% connecting to surface at high grade (circ 5%) has the potential to become early mill feed to back the nearby, massive high grade Resource established at Koko Massava.

Moreover, in the coming months, MRG Metals has the luxury of multiple high grade aircore drilling targets with potential to categorise 100-200MT of very high grade resource (including a follow up target at Koko Massava itself).

He further states- “The highest priority targets are yet to be defined, but we will be extremely excited if Poiombo doesn’t top that list”

Aircore Drilling Specifics

Western GeoLabs conducted heavy liquid separation (HLS) analysis on the Aircore samples. At the laboratory, these samples were oven dried and if needed, disaggregated. They were then weighed and split to ~100g sub-samples.

The sub-sample, after being wetted and attritioned was de-slimed at 45µm to measure Slime percent. It was screened at +1mm, and the +45µm-1mm fraction underwent HLS with tetrabromoethane (specific gravity being 2.95).

Near Term Outlook

The Company is all set to conclude auger drill testing of the remaining airborne anomalies shortly. At Poiombo, with a significant high-grade strandline deposit apparent, a follow up Aircore drilling will focus on geologically bounding the same. For now, samples are being chosen for early mineral assemblage characterisation analysis (QEMSCAN analysis).

MRQ is trading at $ 0.009 on 19 June 2020 (AEST 11:46am).

MUST READ- KALKINE EXCLUSIVE! In Discussion with MRG Metals: Transformational Investment Opportunity in HMS

(Note: All currency in AUD unless specified otherwise)

 


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