MRG Metals Unveils Further Outstanding Exploration Results from Saia, Viaria & Zulene

Summary

• MRG Metals is exploring for Heavy Mineral Sands (HMS) in the world-class location of Mozambique with a stated aim to find early mine feed stock
• Its strategy to systematically explore anomalies on the Corridor tenements has demonstrated a high success rate for the discovery of high-grade zones of HMS
• Recent lab assay results from Saia, Viaria and Zulene targets have affirmed new HMS mineralised zones
• Planning for aircore drill testing of highest priority targets remains underway

MRG Metals Limited (ASX:MRQ) has consistently affirmed enormous exploration expansion potential at its Corridor Central and Corridor South tenements in Mozambique where it continues to explore at a district scale. A cost effective and technically driven explorer, MRG Metals has been implementing programs to maximise the possibility of discovering globally significant mineral resources and in doing so, has achieved a lot in just over 14 months of exploration.

Continuing its growth trajectory, the Company recently provided an impressive update for new lab assay results from auger drilling on Saia, Viaria and Zulene targets within the Corridor South tenement (6621L). The results confirm the presence of new HMS mineralised zones associated with these three targets at the southern end of 6621L. Moreover, not only do the results confirm visual estimate data, but they also support MRG Metals’ strategy of systematically exploring anomalies as it continues the high success rate for the discovery of high grade HMS zones.

Saia, Viaria and Zulene Lab Results

Laboratory results show that 15 (68%) of 22 holes attained an uncut average downhole grade >3% THM. 5 of 22 holes have an uncut average downhole grade of >4% THM whereas 2 holes with >5% THM. 3 holes end in ≥5% THM, with one hole (20CSHA413) ending in ≥7% THM.

The laboratory results confirm that-

• There are new HMS mineralised zones associated with these three targets at the southern end of tenement 6621L
• The most significant result is from Zulene target that shows 4 high grade zones with potential to meet MRG Metals’ goal of 100mt tonnage potential at grade and mineralogy
• Mineralised zones in all 3 targets remain open in all directions at >4% THM, with an important higher-grade core, >6% THM, at Zulene
• New auger assay data set confirms visual estimate data

Zulene Auger Sample Lab Results

Most significant new HMS mineralised zones associated with the three targets from MRG Metals’ recent report are from Zulene. 4 high grade zones from this target reportedly have the potential of 100mt tonnage at grade and mineralogy. Significantly, this exceeds the foundation resource at Koko Massava. Surface footprint of high grade THM mineralised zones are currently typically 1.5km wide and up to 2km along strike; open in various directions.

Casting an eye on significant holes-

• The best hole returned within the batch is 20CSHA413, located in the central part of the target.
  • It’s ending in 7.66% THM (10.5m–12m) marked the maximum individual grade from the hole, indicating high grade mineralisation to be still open at depth.
  • The hole was collared at surface (0.0–1.5m) in 4.80% THM.
  • Slime values related to hole 20CSHA413 are relatively low, with a range of 3.36%–14.46% and an average of 10.57%
• 20CSHA408 is located at the northwest end of the target
  • The hole was collared (0.0–1.5m) in 4.60% THM
  • It yielded a maximum grade of 6.30% THM from 6.0–7.50m and ended at the 7.5–8.5m interval with a grade of 5.96% THM
  • It ended at 8.5m due to intersection of groundwater resulting in no sample return below this depth
  • Slime for this hole has an average of 12.55%
• 20CSHA417 is located at the southeast end of the high-grade zone defined by the assay data
  • has a peak grade of 5.33% THM in the sample interval 6.0–7.5m
  • ended at 9.0–10.5m in 5.14% THM
  • Slime values have a range 9.71%–16.40%, with an average of 13.90%

Oversize fraction characteristics of auger sample batch reported have a range from 0.47%–5.33%, with an average of 1.58%. In terms of visual results versus laboratory results for the downhole THM grade averages, the range of absolute variance is 0.47%–2.44% THM- average visual grade was typically over estimated.

Viaria Auger Sample Lab Results

Known for its large footprint, Viaria was defined by an aggregate of medium intensity radiometric anomalies. Assay data presented in the results are a portion of auger holes that cover the target.

Casting an eye on the most significant hole-

• 20CSHA425-
  • had a peak grade of 5.03% THM in the interval 7.5–9.0m
  • ended in 4.87% THM from 10.5–12m
  • Slimes values have a range of 7.34%–14.94% and a relatively low average of 12.25%

Comparison of visual results versus lab results for the downhole THM grade averages shows the range of absolute variance to be 0.9%–1.02% THM. The average visual grade was typically over estimated.

Saia Auger Sample Lab Results

Saia is relatively small at 1.5km x 1km but is only 1km south from larger Poiombo. These targets are separated by an erosional drainage feature along the Limpopo River valley scarp. MRG Metals opines that Saia may have been part of Poiombo but has been truncated owing to drainage feature on its north side.

Casting an eye on the most significant hole-

• 20CSHA399, located in the northeast part
  • ended in 4.29% THM (10.5m–12m), marking the maximum individual grade from the hole
  • Slime values related to the hole are moderate, with a range of 9.83%–17.83% and an average of 14.41%

MRG Metals intimated that additional auger drilling was needed to evaluate mineralisation extent and close off higher-grades. Moreover, the drilling could also test any relationship with the Poiombo target to the north.

What’s In Store?

MRG Metals is planning for aircore drill testing of highest priority targets. Meanwhile, for the three targets discussed, below forms the outlook-

MRQ quoted $ 0.008 on 22 July 2020.

To know about MRG Metals’ another recent accomplishment, READ HERE- MRG Metals’ Encouraging Lab Results For Nhacutse & Bungane, Stock Riding High