Mozambique: MRG Metals discovers two high-grade zones at Koko Massava

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Mozambique: MRG Metals discovers two high-grade zones at Koko Massava

7:41 CAT | 11 May 2021

Image: The Market Herald

MRG Metals (MRQ) has identified two high-grade zones at the Koko Massava deposit in Mozambique

MRG drilled 34 aircore holes at the combined 1.8-square kilometre area which, based on a visual estimation, returned high-grade total heavy minerals (THM)

Pleasingly, 18 holes returned over 5.5 per cent THM over significant intervals and 12 of these show grades of more than 6 per cent THM

MRG Metals will use the results to complete an updated mineral resource estimate for Koko Massava

Company shares are up 12.5 per cent and are trading at 0.9 cents

Based on a visual estimation, MRG Metals (MRQ) has identified two high-grade zones at the Koko Massava deposit in Mozambique.

The deposit has an inferred mineral resource of 1133 million tonnes at 5.3 per cent total heavy minerals (THM). It’s within this area the company found the high-grade zones.

The zones cover a combined 1.8 square kilometres where MRG drilled 34 aircore holes, however, three of these were drilled as twin to historical aircore holes.

Pleasingly, 18 of the 31 resource holes returned visually estimated results of over 5.5 per cent THM over significant intervals. Of the 18 holes, 12 show grades of more than 6 per cent THM over significant intervals.

Aircore results include 69 metres at 7.5 per cent THM including nine metres at 13.2 per cent THM, 69 metres at 6.7 per cent THM including 24 metres at 11.1 per cent THM and 30 metres at 6.3 per cent THM including 7.5 metres at 10.6 per cent THM.

“The targeted drilling at Koko Massava has confirmed our belief that within the massive Koko Massava footprint, we have significant high-grade mineralisation from surface, including valuable pockets of high-grade resource,” Chairman Andrew Van Der Zwan said.

Once assays are confirmed for these visual estimations, MRG Metals will use the results to complete an updated and JORC-compliant mineral resource estimate for Koko Massava.