공시 • Sep 23
MRG Metals Ltd Provides Update on Ongoing Aircore Drilling Program Currently Being Carried Out Across Multiple Targets at the Company's Corridor South Project Located in Mozambique
MRG Metals Limited provided the market with an update of its ongoing Aircore Drilling program currently being carried out across multiple targets at the company's Corridor South Project located in Mozambique. To date, the company has completed 15 holes of the 28 hole program with drilling completed at both the Nhatcutse and Bungane Targets. The drill rig has now mobilised to the Poiombo Target to complete the final 13 holes. Nhacutse Aircore Drilling: A reconnaissance phase aircore drill program comprising 15 holes has now been competed at the Nhacutse Target (14 holes) and Bungane Target (1 hole) with . initial visual results of the THM grades being very significant. 2 of the 14 holes at the Nhacutse Target have intersected grades that suggest Strandline style mineralization exists in the area. Two aircore holes (20CSAC543 and 20CSAC544) 1km apart at Nhacutse yielded individual 3 metre sample intervals with visual estimated grade >10% THM, with the best interval having an estimated THM grade of 14.0%. These very high estimated THM grades at Nhacutse confirm the discovery of a zone of heavy mineral sand mineralization with estimated Strandline style grades that is both laterally extensive and can extend from surface to depths of >30m. The aircore program was designed to follow-up the excellent near surface, high grade THM mineralization and good quality mineral assemblage results defined from hand auger holes over several zones of the Nhacutse and Bungane Targets. A total of 465m was drilled in the 15 holes (20CSAC537 to 20CSAC551) with the collection of 162 samples, including QA/QC samples. Hole depths range from 30m36m deep, with an average depth of 31m. Nhacutse Aircore Visual Results: The most significant results were returned from hole 20CSAC543, with an average downhole result of 8.9% visual THM from surface, drilled to 36m depth. Hole 20CSAC543 was collared at surface (0-3m) in 8.3% visual THM and had a maximum of 14.0% visual THM in the sample interval 30-33m. The adjacent end of hole sample interval 33-36m comprises 13.5% visual THM. This aircore hole 20CSAC543 correlates with mineral assemblage sample CSNH01 which yielded 41.30% ilmenite+leucoxene and 1.44% zircon. The second most significant hole was 20CSAC544 with 6.6% downhole average visual THM over 36m from surface, with 10.2% visual THM from 30-33m. This hole was collared at surface in 5.5% visual
THM, with every sample interval from 3m to 33m containing an estimated THM grade of >6%. Another significant hole at Nhacutse is 20CSAC545 with downhole average visual THM over 30m from surface, with peak visual THM grade of 9% from the sample interval 15-18m. This aircore hole 20CSAC545 correlates with mineral assemblage sample CSNH06 which yielded 40.16% ilmenite+leucoxene and 1.62% zircon. These three significant holes (viz. 20CSAC543, `544, and `545) in the central zone of the Nhacutse Target are approximately 1km apart, along a line oriented southwest-northeast and sub-parallel to the interpreted long axis of the broader radiometric anomaly. The very high grades intersected in 20CSAC543 and `544 are indicative of Strandline-style HMS mineralization. Based on these aircore visual results, additional drilling is warranted to further define the extent of this very thick HMS mineralization. Aircore hole 20CSAC547, located in the southeast of the Nhacutse Target, comprised 33m @ 5.0% visual THM and was drilled at the location of mineral assemblage sample CSNH08 which contains
45.45% ilmenite+leucoxene and 1.77% zircon. In this hole, 20CSAC547, the individual visual grades between 0m and 27m downhole range from 3.6% 7.0% visual THM, comprising 27m @ 5.2% visual THM (0-27m). Hole 20CSAC538 was drilled in the far southeastern zone of the Nhacutse Target, at the location of the extremely good mineral assemblage sample CSNH03, comprising 68.29% ilmenite+leucoxene, 2.17% rutile and 2.91% zircon. This aircore hole returned an uncut result of 30m @ 3.1% visual THM, with an individual peak sample interval grade of 5.0% visual THM from 3-6m. Of significance in hole 20CSAC538 is that the upper portion of the hole contains 21m
@ 3.7% visual THM, which confirms a significant thickness of well mineralized HMS with very good valuable heavy mineral (VHM) assemblage characteristics known in the related auger hole (19CSHA067). In the southeastern zone of the Nhacutse Target in general, the aircore holes drilled in that area (20CSAC537, `538, `540, and `541) all demonstrate significant high grade visual THM zones in the upper part of each hole, from surface to 21m. The significant intercepts (0-21m) include 21m @ 5.5% visual THM (20CSAC541), 21m @ 3.8% visual THM (20CSAC540), 21m @ 3.7% visual THM (20CSAC538) and 21m @ 3.3% visual THM (20CSAC537). These holes represent approximately 2.5km of strike of interpreted Palaeo-shoreline, which combined with the significant thickness and good VHM assemblage that generally occurs in the eastern area, provide an important exploration target that
warrants further follow up. Overall, within the Nhacutse Target, a total of 12 of the 14 holes have >3.0% downhole average visual estimated THM from surface to end of hole depths ranging from 30m36m. Seventy percent
(11 of 15) of the holes were collared in visual THM grades >3%, and 46% of holes ended in visual THM grades >3%. Holes which have average grades <3% visual THM typically contain a lithology of grey- brown, well sorted sand, whereas holes with >3% visual THM generally comprise a red-brown, medium sorted sand. Bungane Aircore Visual Results: The single aircore hole drilled at Bungane (Figure 1) was designed to test the depth potential of the very high grade auger hole 20CSHA312 which yielded a laboratory result of 12m @ 7.82% THM. The aircore hole 20CSAC549 attained 30m @ 5.4% visual THM. The hole was collared (0-3m) in 5.5% visual THM and the downhole zone between 9-21m comprises individual samples with visual estimated THM results ranging 6.2%8.0%. This is a very good result for the Bungane Target and supports additional drilling to further define the extent of HMS mineralization. Owing to the reconnaissance phase of this aircore drilling, appropriate holes were spaced variably at 500m stations along drill lines. The drill lines are oriented northwest-southeast and were spaced at up
to 1 and 2km apart. Samples were collected at 3m intervals downhole, with each sample interval panned to estimate a visual THM grade. It should be noted that visual estimation of THM in pan concentrates becomes increasingly difficult >5%, with the error margins between laboratory and estimates obviously increasing with higher grades. Significant effort is made to get estimated THM as accurate as possible. Aircore drill samples are now being split in the field in preparation for transport to Maputo and export permit application.