MRG Metals (ASX:MRQ) applies for new uranium and REE exploration licence in Mozambique

Highlights:

• MRG Metals (ASX:MRQ) has successfully applied for a new uranium and REE exploration licence in the Zambezia province of Mozambique.
• This is the company’s fourth REE and U ELA, diversifying its commodity spread.
• The ELA area includes granites of different ages, with the contact between the granites (within high-grade metamorphic gneiss) as the main target for exploration.
• The ELA saw a walkover during the 2014 historical reconnaissance exploration works.
• MRG is ready to commence the field exploration immediately after the grant of the application.

Heavy mineral sands (HMS) player MRG Metals Limited (ASX:MRQ) has successfully applied for an Exploration Licence Application (ELA) over a high potential Uranium (U) and Rare Earth Elements (REEs) project in the Zambezia province of Mozambique.

The Olinga ELA 11005 L diversifies MRG's portfolio from HMS projects to include a fourth licence containing REE and U targets. Additionally, it will expand the company's ELA area to 78,554.10 Ha, including three recent ELAs, i.e. Patricio, Fotinho, and Adriano.

Source: © 2022 Kalkine Media®, data source: Company update, 15 November 2022

Olinga ELA: Exploring hard-rock U and REE targets of Mozambique Metamorphic Province

The Olinga ELA 11005 L spreads across 19,148.72 Ha and is located approximately 890 km North-East of the company’s existing HMS projects at Corridor Sands (Mining Licence Applications 11142 C and 11137 C).

However, it is comparatively closer to the company’s three new REE and U ELAs, lying just 115 km in the East-Northeast of the newly applied license.

Image source: Company update, 15 November 2022

The new ELA area includes granites of different ages, with the contact between the granites (within high-grade metamorphic gneiss) as the main target for exploration. These hard-rock, U and REE targets lie within the Mozambique Metamorphic Province.

ELA highlights

As per MRG, the project was generated as a result of the following review:

• The radiometric spectrometer data from the regional national airborne geophysical survey have shown the presence of intense anomalism in the metamorphic primary terrains. These anomalous areas are characterised by a higher U:Th ratio as compared to the company’s three REE and U ELAs.

Image source: Company update, 15 November 2022

• The 2014 historical reconnaissance exploration works were targeted towards the three REE & U ELAs, but with a walkover of the U and REE area of this new ELA. The samples collected from the U and REE target area saw no analysis.

Way ahead for MRG

• Relevant government departments are currently reviewing the ELA.
• The company is prepared and is eager to commence the field exploration immediately after the grant of the application. The company will undertake a detailed desktop review in the interim.
• The company believes that the project will further grow and diversify its commodity spread in Mozambique upon grant.