Assay results for Marao reported, MRG Metals delineates Magonde as very high-grade target - Kalkine Media

• Over five aircore holes returned grades exceeding 3% THM with one of them having 6.04% THM over 27m. Grades exceeding 10% have been recorded at both the Magonde and Mandende targets.
• Currently, MRG awaits results of the mineralogical study of over 14 samples collected during the aircore drilling program.
• Shares rose 12.5% to AU$0.009 a share after the company announced excellent analytical results of a reconnaissance 10 aircore hole drilling program

Shares of MRG Metals Limited (ASX:MRQ) rose 12.5% to AU$0.009 a share after the company announced analytical results of a reconnaissance 10 aircore hole drilling program at its Marao (6842L) Heavy Mineral Sands tenement.

Aircore drilling at the Marao (6842L) Project Source: MRG announcement 21 July 2022

Three targets including Magonde, Maduacua and Mandende have been delineated by the reconnaissance hand auger grid drilling with a 1km inter-drill line and 500m inter borehole spacing. At all the three targets, very widely reconnaissance aircore holes were drilled with a total advance of 340.5m, collected and analysed 256 samples (inclusive of QAQC samples).

Drill results establish Magonde as very high-grade target - MRG

Aircore drill results from three Heavy Mineral Sands (HMS) Targets at Marao (6842L) delivered high-grade results including –

• 22MUAC003 (Magonde) - 27.0m at 6.04 % THM, including 9.0m at 9.93 % THM from 16.5m, including 1.5m interval grade with 13.49% THM
• 22MUAC008 (Mandende) - 45.0m at 3.65 % THM, including 7.5m at 7.12 % THM from 33m, including 1.5m interval-grade with 13.49% THM
• 22MUAC001 (Magonde) - 37.5m at 3.04 % THM
• 22MUAC006 (Maduacua) - 45.0m at 3.37 % THM and
• 22MUAC007 (Maduacua) - 28.5m at 3.07 % THM

Over five aircore holes returned grades exceeding 3% THM with one of them having 6.04% THM over 27m. Grades exceeding 10% have been recorded at both the Magonde and Mandende targets. MRG considers that the targets have now been proved prospective and the potential of Marao is now supported since the mineralogy is better than the ones reported at Koko Massava, Nhacutse and Poiombo.

The Magonde Target with Aircore and auger drilling in and around the target Source: MRG announcement 21 July 2022

Extremely high grades were recorded at depth in holes 22MUAC003 and 22MUAC008 at the Magonde and Mandende targets, respectively, with grades up to 13.49% THM over a 1.5m interval. The company believes that these results bolster potential for very high-grade mineralisation at depths of more than 12m auger drilling.

Currently, MRG awaits results of the mineralogical study of over 14 samples collected during the aircore drilling program and subsequently will plan further steps of targeted aircore drilling at Marao. Further, mineralogical work will follow up encouraging preliminary mineralogical investigations within the Marao licence with grab samples from the Maduacua and Magonde targets.

Magonde investigation recorded 44.1% to 50.05% Valuable Heavy Mineral (VHM) content (Ilmenite, Altered Ilmenite, Rutile and Zircon) results from Scanning Electron Microscopy (SEM).

VHM results are higher than the JORC Mineral Resource estimate of an average of 41% VHM of the HMC at Koko Massava and the initial JORC Mineral Resource estimate at average 42% VHM of the HMC at Nhacutse and Poiombo. The Zircon content of 2.09% to 3.12% was also higher in comparison to MRG’s Koko Massava, Nhacutse and Poiombo deposits.