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Leapfrog modelling results indicate further Mineral Resource Estimates for MRG Metals

Summary

  • MRG Metals Limited (ASX:MRQ) has unveiled the preliminary findings of 3D Leapfrog models conducted for Koko Massava, Nhacutse and Poiombo.
  • The modelling demonstrated the strike, width, and depth continuity of the high-grade and very high-grade mineralisation; shows the potential for 3 high- to very high-grade mineralised areas.
  • Mineralogical studies of the three deposits are ongoing and will be incorporated into the 3D modelling and upcoming Mineral Resource Estimates (MREs).

MRG Metals Limited (ASX:MRQ) is making continuous strides across its Corridor Central and South Portfolio in the world-prolific HMS province of Mozambique. The Company has been targeting early mine life feed across multiple targets, with MREs expected within Koko Massava, at Nhacutse and Poiombo targets.

Notably, 1.4 Bt @ 5.2% Total Heavy Mineral (THM) JORC Resource (4% cut-off grade) was already delivered at Koko Massava last year.

INTERESTING READ: MRG Metals’ (ASX:MRQ) HMS Potential highlighted at Mines and Money Connect Conference  

On 30 June 2021, preliminary findings of 3D Leapfrog models have showed further potential for three high- to very high-grade mineralised areas within 2 contiguous licences of Corridor Central and Corridor South.

The 3D modelling on aircore and auger drillhole data was commissioned to understand the lithological controls on mineralisation and the distribution of mineralisation.

THM % grades & volumes for Koko Massava, Nhacutse & Poiombo from 3D Leapfrog models, Source: Company’s report, Jun 2021

3D Leapfrog models findings

The results from the Leapfrog modelling indicate that MRG Metals is well on its way to define three high- to very-high grade MREs across Koko Massava, Nhacutse and Poiombo. Notably, these are expected to be higher grade than the original MRE at Koko Massava.

Another indicator of the success of MRG’s exploration drilling is the fact that the volumes of mineralised areas range from surface to depths below 60m.

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Koko Massava Leapfrog Model

An aircore drilling program was undertaken at the very high-grade zone between the towns of Koko Massava and Malahice. The analytical results are outstanding, but the drilling returned excellent visually estimated (VIS EST) THM results.

ALSO READ: Significant Koko Massava MRE Propels MRG Metals To Begin Metallurgical Testwork

The Leapfrog modelling clearly confirmed the below-

  • The area has excellent strike (up to 3km), width (two zones, one approximately 1.6km and the other approximately 0.9km) and depth (>60m from surface).
  • Three sections with horizontal distance show continuity to the high- and very high-grade mineralisation (>5% THM).
  • The modelling demonstrated the very large tonnages associated with the area.
  • Mineralisation from surface is, apart from the high and very high grades at surface, nearly exclusively in the 3-5% THM range.

REALATED READ: MRG Metals uncovers high-grade mineralisation at Koko Massava

Three sections: West to east from infill aircore drilling in the very high-grade mineralised area, Source: Company’s report, Jun 2021

Nhacutse Leapfrog Model

Recently, two aircore drilling programs were conducted at the very high-grade zone north and north-east of the towns of Nhacutse. The drilling returned excellent VIS EST THM results, showing that the larger zone is still open towards the north-east, west and south-east. The analytical results are awaited, and the model is thus preliminary.

RELATED READ: Will infill Aircore drilling at Nhacutse give MRG Metals (ASX:MRQ) its second MRE?

The Leapfrog modelling clearly confirmed the below-

  • The area has excellent strike (approximately 2.9km for the northern zone and approximately 1.2km for the northeastern zone.
  • The width is approximately 1km and 0.5km each while depth is up to 60m from surface.
  • There is continuity to the high- and very high-grade mineralisation (>5% THM).
  • The modelling also confirmed that the previously interpreted two separate zones could be one very high-grade zone.
  • Large tonnages associated with the area were unveiled.
  • Mineralisation from surface is, apart from high and very high grades at surface, nearly exclusively in the 3-5% THM range.

ALSO READ: MRG Metals shines on ASX after positive visually estimated findings from Nhacutse drilling

Section from infill aircore drilling in the very high-grade mineralised area, Source: Company’s report, Jun 2021

Poiombo Leapfrog Model

Analytical results of a recent aircore drilling program undertaken at the very high-grade zone, west of the towns of Poiombo are awaited. However, the drilling returned excellent VIS EST THM results from surface for this zone.

The Leapfrog modelling clearly confirmed the below-

  • The area has excellent strike (approximately 1.8km), width (approximately 0.7km) and depth up to 60m from surface.
  • Continuity of high- to very high-grade mineralisation was revealed (>5% THM).
  • The modelling showed encouraging tonnages associated with this zone.
  • Mineralisation from surface is, apart from the high and very high grades at surface, exclusively in the 3-5% THM range in this area.

ALSO READ: MRG Metals’ Infill Aircore Drilling At Poiombo Delivers Excellent Results

Section through the infill aircore drilling in the very high grade mineralised area, Source: Company’s report, Jun 2021

What next?

Mineralogical studies of the three deposits are ongoing. These will be incorporated into the 3D modelling and upcoming MREs within the Heavy Mineral Concentrate (HMC).

Besides, the models will be updated and further developed once all assay results from the associated recent drilling programs are received.

MUST WATCH: Executive Corner- Expert Talks | Mr Andrew Van Der Zwan – Non Executive Chairman of MRG Metals

The results from the Leapfrog modelling is yet another clear indicator that MRG Metals is on the right path to succeed in its stated exploration strategy of discovering potential mine start-up HMS deposits.

On the ASX, MRQ quoted A$0.008 on 1 July 2021. The market capitalisation stood at A$12.32 million.

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