MRG Metals Limited (ASX:MRQ) is an explorer of Heavy Mineral Sands (HMS) in the world’s largest host to HMS titanium feedstock resources- Mozambique. The Southeast African nation has world-class mineral sands mines wherein the Company intends to add value through less expensive exploration in areas of known HMS mineralisation to uncover high grade areas with high unit value resources and large tonnage.
MRG Metals’ high calibre team with a technical and strategic competitive advantage, a proven history of HMS discoveries and experience in Africa has been advancing the HMS Projects (Corridor Central and Corridor South Projects), acquired in 2019.
The results of these advancements have fared well, with developments fostering one after the other in the 13 high calibre targets identified in the Project.
On 11 March 2020, MRG Metals’ updated about the impressive inaugural results from its third tapped target- Nhacutse, where Auger drilling has confirmed yet another zone of high-grade HMS mineralisation-
Results of Hand Auger Drilling at Nhacutse Target
The initial visual results of the wide-spaced drilling have presented very encouraging high-grade HMS mineralisation over the Nhacutse Target.
- 62 per cent of Auger holes have uncut, average downhole visual estimated grades of more than 4 per cent THM and 57 per cent of holes end in sample intervals with estimated THM grades of more than 4 per cent.
- This zone of HMS of more than 4 per cent estimated THM has a current footprint of approximately 3 kilometer X 1 kilometer.
- A total of 20 of the 21 holes demonstrated more than 3 per cent average visual estimated THM, from hole depths ranging from 7 meter–12 meter.
After the Company announced successful initial Auger drilling at Poiombo last week, the recent Nhacutse Auger drilling has been equally successful again with grades of THM greater than 5% down to 12m.
To read about the Poiombo results, CLICK HERE- MRQ Pursues Poiombo- Aircore Drilling to Begin, Stock in Green Zone
Best Results of THM Grades
A total of 21 Auger holes were drilled at Nhacutse, with the best results summarised below-
Besides these three significant holes, Hole 19CSHA048 was drilled to 9m @ 6.40% THM (Laboratory assay from 2019 Auger). Results demonstrate that the third target is also identified as one of MRG Metals’ successfully identified high calibre Aircore drilling targets.
Hand Auger Drilling
Reconnaissance hand Auger drilling at the Nhacutse target was designed to explore the radiometric anomaly and follow-up the high-grade mineralisation that was previously defined in 2019 Auger holes. The process, wherein 21 Auger holes were drilled, now stands successfully complete.
- Drillholes were spaced at either 500m or 1000m stations along drill lines 1000m apart
- Samples were collected at 1.5m intervals downhole
- Each sample interval was panned to estimate a visual THM grade
- Hole depths ranged from 7m–12m deep (average depth of 11m)
- A total of 163 samples have been collected in the 21 holes (including QAQC samples)
What’s Next?
The coming days are going to be an exciting time for MRG Metals. The Koko Massava (target 1) Mineral Resource Estimate (MRE) completion is approaching. At Nhacutse (target 3), a drill program is likely to be formalized shortly, with priorities shaped by progress at Poiombo (target 2)
At Poiombo, the Company is planning to start drilling shortly. Keen interest is expected to be undertaken at the additional infill targets identified in the Koko Massava MRE and on further Auger drilling results at new targets as they are drilled.
It seems that with the completion of the Koko Massava MRE at the doorstep and drill programs planned, MRG Metals can continue its exploration activities in parallel with the stated goal of looking to high grade additional resources from its remaining targets.
The stock last traded at $ 0.005 on 13 March 2020 (AEDT: 01:15pm).
Disclaimer
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