MRG Metals (ASX:MRQ) submits Mining Licence Applications for Corridor projects - Kalkine Media

Highlights:

• MRG Metals (ASX:MRQ) has successfully submitted the Mining Licence Applications (MLA’s) for its Corridor projects.
• The INAMI accepted the submission, re-numbering Corridor Central and Corridor South to 11142C and 11137C, respectively.
• The application was based on the data confirming a low-cost structure.
• Company has also planned further exploration activities at the Corridor projects.

Heavy mineral sands (HMS) exploration player MRG Metals Limited (ASX:MRQ) has released an important update highlighting the successful submittal of Mining Licence Applications (MLA’s) for its Corridor projects.

Following the promising result of the Corridor projects’ Scoping and Metallurgical study, the company has successfully submitted the Mining Licence Applications (MLA’s) for its Corridor Central (6620L) and Corridor South (6621L) Heavy Mineral Sands (HMS) licences.

The Mozambique mining regulatory authority-National Mining Institute (Instituto Nacional de Minas) (INAMI) accepted the submission, and MRQ will now work with INAMI to progress the two MLA’s. Corridor Central has been re-numbered to 11142C and Corridor South to 11137C by INAMI.

Source: Company’s update, 21 October 2022

Mr Andrew Van Der Zwan, MRG Metals Chairman, on MLA development

Source: © 2022 Kalkine Media®, data source: company update

Further planning with INAMI

The MLAs also follow the company’s recent four rare-earth elements (REE) and uranium Exploration Licence Applications (ELA’s). These ELA’s are in Mozambique and the same are listed below:

1. Patricio (10999L; 19,763.06 hectare)
2. Fotinho (11000L; 19,865.18 hectare)
3. Adriano (11002L; 19,777.14 hectare)
4. Olinga (11005L; 19.148,72 hectare)

The company has now planned to work with INAMI to progress all MLAs and ELAs.

Source: Company update, 11 May 2022

Future exploration activities at Corridor projects

MRG will focus future exploration activities within Corridor Central (6620L) and Corridor South (6621L) on the very high Valuable Heavy Mineral (VHM) area discovered east of a very strong lithological boundary.

The company expects the results from a recent reconnaissance aircore drilling program, and mineralogical studies to be out soon. Further exploration will then aim to deliver these deposits for MRE, and the company believes that it will possibly improve the projects’ economics significantly.

MRQ is trading at AU$0.006 a piece in the morning session on 21 October 2022, with a market capitalisation of AU$8.73M.