MRG Metals delivers maiden resource estimates for Mozambique projects

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MRG Metals delivers maiden resource estimates for Mozambique projects

10:48 CAT | 04 Feb 2022

Source: MRG Metals

MRG Metals (MRQ) delivers maiden inferred mineral resource estimate for the Nhacutse and Poiombo deposits in Mozambique

Nhacutse’s maiden resource comprises 535 million tonnes at 4.9 per cent total heavy minerals (THM) and Poiombo’s resource sits at 325 million tonnes at 4.8 per cent THM

Chairman Andrew Van Der Zwan welcomed the results and is even more impressed by the high-grade zones totalling 256 million tonnes at 6 per cent THM

MRG Metals has now begun a mineralogical study within the Nhacutse and Poiombo deposits to deliver an updated mineral resource estimate

MRG Metals (MRQ) has announced maiden mineral resource estimates for the Nhacutse and Poiombo deposits in Mozambique.

The Nhacutse deposit has a maiden inferred mineral resource of 535 million tonnes at 4.9 per cent total heavy minerals (THM) and 21 per cent slimes for 26 million tonnes of THM.

Outstanding maiden MRE for Nhacutse and Poiombo includes excellent combined high grade inferred resource of 256Mt @ 6.0% THM: https://t.co/unkvnenrr2 $MRQ #heavymineralsands #asxnews pic.twitter.com/LFJ0AyCYaE

— MRG Metals (@mrg_metals) February 1, 2022

The Poiombo deposit’s maiden inferred mineral resource comprises 325 million tonnes at 4.8 per cent THM with 19 per cent slimes for 16 million tonnes of THM.

MRG said both deposits demonstrate “exceptional”homogeneity and good continuity of higher grade zones of mineralisation. Together, they have a high-grade inferred resource of 256 million tonnes at 6 per cent THM at a 5 per cent cut-off grade.

Chairman Andrew Van Der Zwan said he was pleased to deliver maiden resource estimates for both deposits which enhances the potential of MRG Metals’ Corridor Sands projects in Mozambique.

Read; Mozambique: MRG Metals hires consultants for corridor sands project

“To announce a combined inferred resource of 860 million tonnes at 4.9 per cent THM from these two sister deposits is fantastic, even more impressive is that it contains high grade zones totalling 256 million tonnes at six per cent THM,” he said.

Further, the mineral resource estimates for both deposits delivered an exploration target in the range of 50 and 500 million tonnes at between 4.5 and 5.4 per cent THM at cut-off grades of three and five per cent THM.

The Nhacutse and Poiombo deposits are situated about four kilometres apart which is the same distance between the Nhacutse and Koko Massava deposit whose mineral resource estimate was recently updated by 110 million tonnes.

Together with the Koko Massava deposit’s resource update, MRG Metals has identified an inventory of potential mine start-up pit options.

The company has now begun a mineralogical study of 27 composite samples within the Nhacutse and Poiombo deposits. The study results will be used to deliver an updated mineral resource estimate for both deposits.

On Wednesday, company shares were trading steady at 1.1 cents at 11:16 am AEDT.

Source: Market Herald Australia