Source: MRG Metals
Market Herald logo


Be the first with the news that moves the market
  • MRG Metals (MRQ) identifies a new target as part of its auger drilling program at the Marao Project in Mozambique
  • This target is named “Mandende” and is the second discovered since drilling began in February
  • Mandende covers more than nine square kilometres and contains auger holes that have returned grades of up to 5.9 per cent total heavy minerals
  • Drilling at the Marao Project is ongoing with over 300 holes yet to be drilled
  • Company shares were trading steady at 0.7 cents

MRG Metals (MRQ) has provided an exploration update on auger drilling at the Marao Project in Mozambique.

The company’s most recent update was in March when it announced that its initial drilling of 25 holes led to discovering the Magonde target.

Since then, MRG has drilled another 60 holes which identified a second target which has been dubbed “Mandende”.

The Mandende target covers an area of more than nine square kilometres and remains open to the north and at depth.

It consists of 19 holes with visually estimated total heavy minerals (THM) grades of above 3 per cent THM. Of the 19 holes is six holes which showed grades of 4 to 5 per cent THM and one other hole which has visually estimated grades of 5.9 per cent THM.

“Having only commenced drilling at Marao in February 2021, following the licence being granted in December 2020, the fact we have identified two significant targets in Mandende and Magonde, is a real credit to our team on site in terms of their targeting and efficiency in carrying out productive exploration programs,” Chairman Andrew Van Der Zwan said.

MRG will continue its drilling campaign which is expected to include nearly 400 holes and aims to discover further prospective targets.

Company shares were trading steady at 0.7 cents at 10:04 am AEST.

MRQ by the numbers
More From The Market Herald

" Anova Metals (ASX:AWV) begins drilling at Big Springs

Anova Metals (AWV) has begun the 2021 reverse circulation (RC) drilling program at its Big Springs gold project in Nevada.
Raiden Resources (ASX:RDN) - Managing Director, Dusko Ljubojevic

" Raiden Resources (ASX:RDN) completes tenement acquisition

Raiden Resources (RDN) has completed the acquisition of the nickel-copper-platinum group element (PGE) tenements adjacent to its Mt Sholl project.

" Alkane Resources (ASX:ALK) hits further gold at Molong

Alkane Resources (ALK) has received the latest batch of assay results from its Northern Molong Porphyry Project in New South Wales.
The Market Herald Video

" De Grey Mining (ASX:DEG) raises $125m for Mallina

De Grey Mining (DEG) has received firm commitments to raise $125 million for its Mallina Gold Project.