Explorer of gold, base metals and currently the heavy mineral sands sector, MRG Metals Limited (ASX: MRQ) has relinquished all its Australian projects to concentrate on its recently acquired Corridor Projects Heavy Mineral Sands in Mozambique. The HMS Projects bear optimum potential, have developments fostering with time and are of great significance to the Company.
Of late, MRQ has been focusing on the Koko Massava target, which is part of the HMS Corridor Projects and was generated from wide spaced historic drilling and confirmed by excellent Auger drilling results. In November end, MRQ notified that further high-grade HMS were being encountered from infill drilling at Koko Massava.
The Phase 1 drilling of wide spaced holes at 500m x 1000m was completed in mid-November, encouraging results of which underpinned the Companyâs decision to commence the Phase 2 infill drilling in areas of high estimated THM grades, closing the hole spacing to 250m x 1000m and 500m x 500m.
By 25 November 2019, a total of 48 Phase 1 and 34 Phase 2 Aircore holes were reportedly competed at Koko Massava.
To read about the Companyâs Recent Developments in HMS, CLICK HERE.
The First Laboratory Assay Results from Koko Massava
On 16 December 2019, the Company provide the first highly significant laboratory assay results from Aircore drilling on the Koko Massava target within the Corridor Central tenement (6620L):
- The laboratory results are for a batch of 202 samples, including QAQC samples, from a total of 16 Aircore holes (19CCAC104 to 19CCAC119);
- This data set confirmed the significant lateral and vertical extent of the mineralised footprint;
- Consequently, the results underpin the significant potential for definition of a high grade, large tonnage HMS mineral resource;
- The results do not represent a complete set of samples from each hole and the remainder of samples to be assayed in the near future. These will then be included in the third Batch of Aircore samples due to leave Mozambique after permitting is completed;
- Overall, the available laboratory data set shows the Aircore holes (19CCAC112 â 119), the first 8 of the 82 Aircore holes drilled. They have attained an uncut average downhole grade 3.70% - 6.23% THM, with hole depths ranging from 51 â 75m;
- The results highlight the robust nature of the HMS mineralisation in the Koko Massava area that begins near surface and continues to the end of hole in numerous cases.
The Aircore Sample Laboratory Result
19CCAC116 was the highlight of this recent laboratory result and the best hole with a maximum of 17.64% THM. It comprises an uncut downhole average of 6.23 per cent THM over 51m from 3-54m and has moderate slime values (6.99 per cent-19.04 per cent and an average of 12.02 per cent).
43 of 202 primary samples contained Slime values of over 20%. The range of Slime within the batch is 3.18% to 32.25%, with overall average of 14.71%. This indicates that the host sand will be amenable to typical dry mining methods and standard gravitational HMS pre-concentration.
Post oven drying and disaggregation (if required) by hand, weighed and then split to ~100g sub-samples, the Aircore samples were sent to Western GeoLabs in Perth for heavy liquid separation analysis. The sub-samples were also:
- Wetted and attritioned to ensure further breakdown of any clay aggregates.
- De-slimed at 45Âµm to measure Slime percent.
- Screened at +1mm to remove and measure Oversize percent.
- +45Âµm-1mm fraction was subjected to heavy liquid separation with tetrabromoethane at specific gravity of 2.95.
MRQ is expecting additional new laboratory results for Aircore drill samples before Christmas, and is thriving to complete the drill hole assaying and then delivering a maiden resource by the end of Q1 2020. Pleased with the constant advancement at the Koko Massava target, Chairman, Mr Andrew Van Der Zwan said that:
Share Price Information
On 16 December 2019, MRQ quoted $0.012, up by 9.09% relative to its last close. The stock has generated a YTD return of 175% and its six-month return is 83.33% (as on 13 December 2019).
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