In Discussion with MRG Metals: Transformational Investment Opportunity in HMS

  • May 14, 2020 AEST
  • Team Kalkine
In Discussion with MRG Metals: Transformational Investment Opportunity in HMS

Exploring for Heavy Mineral Sands (HMS) in a world class HMS location, MRG Metals Limited (ASX:MRQ) is currently developing the Corridor Projects HMS in Mozambique. The Southern African region is the largest host to HMS titanium feedstock resources globally. MRQ has been successful in making a significant discovery of high grade Total Heavy Mineral (THM) over a large area from surface and has a portfolio of 13 high calibre targets identified on its Corridor Central and Corridor South projects.

Recently, in an exclusive interview with Kalkine Media, the Company shared HMS insights and constant progresses made across its target areas.

Interview Excerpts:

  1. As an exploration company, of all metallic and non-metallic minerals, why did MRG Metals (ASX:MRQ) choose to focus on Heavy Mineral Sands?

MRG was looking for a transformational investment opportunity in which low cost exploration expenditure, if successful, could generate significant growth for the company.

  1. How has securing an attractive acreage in Mozambique worked in your favour?

MRG has delivered a massive Mineral Resource for Shareholders which we believe over time will create significant value for MRG Shareholders. Are there any other prospective regions being considered? MRG has a number of tenement applications in other parts of southern Mozambique, which presents a growing exploration portfolio with potential for future growth.

  1. Can you share key insights from developments at your first target, Koko Massava?

Koko Massava highlights some potentially significant insights namely:

    1. The resource appears to commence in many areas near or at surface and is relatively homogenous across very large distances.
    2. The nature of the sands is likely to support a dry bulk operation and a low cost pre-concentration method.
    3. The assemblage structure (yet to be formally evaluated) suggests significant contained Zircon value, in what is predominantly an Ilmenite story.
    4. The Koko Massava area is well endowed with the necessary infrastructure to facilitate efficient/low cost mine development.

 

  1. MRG Metals has recently been updating about progress at Nhacutse and Poiombo targets. What should we expect from these target areas?

Nhacutse and Poiombo have delivered excellent Auger drilling results to date (high grade from surface). The assay results for an initial 10 Aircore holes are expected soon and new Auger results should be announced shortly as well.

  1. What is the role of IHC Robbins in Perth in assisting MRQ’s discoveries? What results are awaited in the near term?

IHC Robbins is a well respected consultant in the mineral resource space. IHC Robbins undertook the Mineral Resource Estimation (MRE) for Koko Massava deposit which lead to the maiden Mineral Resource released to the market recently. Also, IHC Robbins has been commissioned to undertake the current metallurgical study – a bulk sample comprising samples taken from Aircore drill holes across the mineral resource.

  1. There is a potential of target zones to create another massive footprint of high grade tonnage down to 12m, which is open at depth. What is MRQ’s plan in these zones?

Results to date from the Bungane/Nhacutse/Poiombo area show very high grade potential in zones that, with more work, have the potential to join up to create another mineralised footprint like that of Koko Massava.

  1. What are your plans to take your discoveries into the production phase?

MRG is exploring for high grade HMS deposits, either from further exploration and analysis at Koko Massava or from other targets and will create multi-speed programs to both develop and explore as warranted.

  1. COVID 19 has caused major disruption in supply chain and affected businesses in multiple ways. How is MRG Metals tackling the pandemic situation?

The safety of our people is critically important to us. MRG has maintained a continuous Auger drilling exploration program during the COVID 19 pandemic and we are monitoring developments closely in Mozambique.

  1. How was your experience at Kalkine's CEO & Investor Small Cap Conference Presentation?

We appreciated the opportunity to present our story at the Kalkine conference and found this forum to be a useful way of communicating with the wider market.

 


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