MRG Metals Limited (ASX: MRQ) announced that the assay results from the widely spaced maiden aircore drilling program on the Company’s Zulene and Viaria Targets in the Corridor South exploration Licence (6621L) in Mozambique has confirmed thick zones of high-grade heavy mineral sand (HMS) mineralisation.
The company said that individual 3m interval grades of up to 7.18% THM (20CSAC565) were present in the aircore holes, with multiple consecutive >5% THM over 3m intersections in two of the drillholes (20CSAC565 and 20CSAC568).
Significant program results included 20CSAC565 0 – 30m 30m @ 4.63% THM (Zulene), including 0 – 21m 21m @ 5.83% THM; 20CSHA568 0 – 30m 30m @ 4.86%THM (Zulene), including 0 – 27m 27m @ 5.17% THM; and 20CSHA571 0 – 30m 30m @ 4.14% THM (Viaria).
The company said that the discovery of thick intersections of high-grade THM mineralisation confirms that the Zulene and Viaria Targets warrant more detailed exploration.
Corridoor projects
MRG Metals’ Corridor Central and Corridor South tenements are strategically located approximately 10km south of the Corridor Sands (Deposit 1) – where media reports indicate that Dingsheng Minerals has spent in excess of US$1 Billion. Rio Tinto and Savannah Resources’ Chilubane Deposit is also located 10km south of the Company’s Corridor projects.
Corridor Central (6620L) tenement comprises 179km2 covering palaeodunes known to host significant HMS mineralisation. Historic aircore drill holes show a very large, high grade HMS mineralised zone with down hole total heavy mineral (THM) grades up to 14% THM. The high THM grade in the historic holes begins at surface and extends to at least 60m depth, extending over an area of 5.5km x 1.2km.
Corridor South (6621L) tenement comprises 208km2 covering palaeodunes also known from historic drilling to host significant HMS mineralisation. At Corridor South, a large, high grade mineralised zone with down hole THM grades up 7.4% extending over an area of 6.5km x 4.5km.
Significant targets within the Corridor South exploration Licence (6621L) include Zulene and Viaria.
AC drilling at Corridor South
The company had recently commenced a widely spaced (700m to 2,200m) maiden aircore drilling program on the Zulene and Viaria Targets, located in the Corridor South exploration Licence (6621L).
The drilling program comprised 7 aircore drillholes for a total of 207m, 5 at Zulene (20CSAC565 to ‘569) and 2 at Viaria (20CSAC570 to ‘571).
High-grade HMS mineralisation
MRQ reported that the assays from the 5 holes at Zulene ranged in grades from high grade mineralisation of >5%THM to moderate grades in the other 3 holes of +3% THM.
The company said that the 2 holes at Viaria returned encouraging results, with both holes returning results with multiple 3m intervals +4% THM. MRG Metals said that additional follow-up exploration is planned in the future.
Significant program results included 20CSAC565 0 – 30m 30m @ 4.63% THM (Zulene), including 0 – 21m 21m @ 5.83% THM; 20CSHA568 0 – 30m 30m @ 4.86%THM (Zulene), including 0 – 27m 27m @ 5.17% THM; and 20CSHA571 0 – 30m 30m @ 4.14% THM (Viaria).
Zulene AC drill results
MRQ said that the assay results from the 5 maiden aircore holes at Zulene were very encouraging, with 3 of the 5 drillholes demonstrating uncut grades from surface to the bottom of the drillholes at +3% THM. The company said that using a 3% lower THM cut-off shows all the drillholes having zones from surface with +3.25 % THM.
The highest individual 3m interval assay result reported was 7.18% THM from drillhole 20CSAC565; the cut grade from 0 – 21m of 21m @ 5.83% THM from this drillhole was also the highest grade in the drilling program.
The company said that the 5 drillholes have now confirmed the Zulene Target as highly prospective for high grade HMS mineralisation. The significant depth extent was also confirmed, with drillhole 20CSAC568 with an average cut grade of 5.17% THM from surface to 27m and with 3 of the 5 drillholes having cut grades deeper than 20m depths from surface.
Viaria AC drill results
MRG Metals said that the assay results from the 2 maiden aircore holes at Zulene were also encouraging, with both drillholes with uncut grades to the bottom of the drillholes at +3.15% THM and 20CSAC571 having +3% THM grades from surface to the end of hole at 30m; returning high grade results of 0 – 30m of 30m @ 4.14% THM.
The company said that the 2 drillholes have confirmed the potential of the Viaria Target and has also confirmed the significant depth extent of the mineralisation. MRQ said that additional aircore drilling will have to take place on this Target in the future.
Next steps
The company said that further work will include heavy liquid separation analysis for quantitative THM% data. MRQ said that additional mineral assemblage and ilmenite mineral chemistry analyses will also be undertaken on suitable composite HM samples to determine valuable heavy mineral components. MRG Metals said that as the project advances, TiO2 and contaminant test work analyses will also be undertaken.
Management comments
MRG Metals Chairman, Andrew Van Der Zwan said: “As we round off what has been a very challenging year globally, I am thrilled to report that MRG has finished off on a high note following our very successful exploration programs carried out in Mozambique.
It is with great pleasure that we can advise that the assay results received from our Zulene and Viaria Targets confirm the THM mineralisation and that it continues at depth, meaning we now have another very promising drill target in the mix for prioritization as we kick off 2021 exploration.
I want to thank all of our Shareholders for their continued support throughout the year and hope everyone had a safe and happy Christmas as we look forward to reporting more news from our exciting portfolio of HMS assets in the new year.”