MRG Metals Limited (ASX: MRQ) has received positive laboratory and excellent mineralogical results of the new Azaria Very High VHM Target, located east of the company’s Koko Massava deposit within the Corridor Central (11142C) HMS projects in Mozambique.
Laboratory results from three aircore drillhole (22CCAC776 – 22CCAC778) drilled within the Azaria Target confirmed the laboratory THM grades from reconnaissance auger holes, indicating large areas of >3%THM, while hole 22CCAC777 with 4.38 % THM over 19.5m also confirms areas with >4% THM (also shown by auger holes 20CCHA505 @ 4.01% THM over 12.0m and 20CCHA195 @ 4.21% THM over 13.0m; both from surface)
Importantly, excellent mineralogical results from five lithologically composited HMC samples from the three aircore holes has confirmed Azaria as an exciting new large target for very high value HMC situated in the White Sand lithology.
With average VHM (Zircon, Rutile, Leucoxene, Altered Ilmenite and Ilmenite) results from the five samples at 72.4%, the VHM is significantly higher than the average of 41% VHM found within the Koko Massava MRE area or the average 43% VHM from the Global Nhacutse and Poiombo MRE area.
The additional 9.1% of Titanomagnetite then also results in an economic product of >80% of the HMC within the Azaria Target. Additionally, the high value Zircon and Rutile Heavy Minerals are also higher than found in Koko Massava, Nhacutse and Poiombo deposits (Zircon at 2.8% vs the 1.2% in Koko Massava and the 1.3% in Nhacutse and Poiombo; Rutile at 1.9% vs the 1.2% in Koko Massava and the 1.1% in Nhacutse and Poiombo).
“As we detailed in our recently released PEA and Scoping Study, it is our intention to significantly improve the already impressive A$413M NPV of the Corridor Sands Project,” Chairman, Andrew Van Der Zwan, said.
“We highlighted that MRG had identified multiple opportunities to do so as we progress through the Pre-Feasibility stage and we are simply thrilled that we are able to deliver on one of these so quickly, with the announcement of a brand new target in Azaria.
“This is an exceptional new target that promises much higher VHM content. Azaria could well deliver substantial tonnage at a significantly higher in-ground value per tonne than Koko Massava.”
Corridor Central (11142C) Drilling Programme and Mineralogy
Ongoing mineralogical studies have identified a very strong lithological boundary in the eastern side of the Corridor licences.
The VHM% in the Type 2 sand is as high as 73.37% from previous studies. Three Aircore holes (22CCAC776 – 22CCAC778) were drilled in a large area of Type 2 White Sand lithology east of the Koko Massava deposit.
A total of 67 samples (inclusive of QAQC samples) were collected at 1.5m intervals and analyses at Western Geolabs in Perth, Australia.
Aircore drillhole 22CCAC777 returned 4.38% THM over 19.5m; 22CCAC778 returned 3.50% THM over 19.5m and 22CCAC776 returned 3.20% THM over 16.5m, all with mineralization from surface. Individual 1.5m intervals showed THM results as high as 8.15% THM.
five Heavy Mineral Concentrate (HMC) composites, derived from all observed lithologies and from all three holes drilled, were also sent for mineralogical investigations. Mineralogical investigation and analyses were done by SJMetMin Laboratories. The average total VHM of 72.4%, as well as the high individual valuable minerals, clearly illustrates the samples are from the Type 2 White Sand.
For further information please visit: https://mrgmetals.com.au/
