Market Herald logo

Subscribe

Be the first with the news that moves the market
  • MRG Metals (MRQ) has received the first laboratory assay results from aircore drilling at the Koko Massava Target
  • Initial laboratory data has confirmed an extensive mineralised footprint open in all directions
  • A total of 202 samples were received from 16 holes, although this is not a complete profile with the remainder to be assayed in the near future
  • MRG’s share price is currently up 4.55 per cent with shares trading for 1.2 cents apiece

MRG Metals (MRQ) has received the first laboratory assay results from aircore drilling at the Koko Massava Target

Initial AC laboratory data from Koko Massava has confirmed the significant lateral and vertical extent of the mineralised footprint, as well as further undermining the significant potential for definition of a high grade, low tonnage, heavy mineral sand (HMS) mineral resource.

The laboratory results are for a batch of 202 samples from a total of 16 AC holes, however, these results do not represent a complete set of samples from each hole with the remainder of samples to be assayed in the near future.

“MRG continues to deliver at Koko Massava. Aircore drill laboratory HMS assays from the first line of 8 holes out of 82 holes drilled to date confirm and typically exceed the earlier field visual estimations of high grade from the same aircore drill samples,” Chairman Andrew Van Der Zwan commented.

The best hole, 19CCAC116, returned a value of 17.64 per cent total heavy mineral (THM) and based on the almost complete dataset, this hole comprises of an uncut downhole average of 6.23 per cent THM over 51 metres.

Slime values related to this hole are moderate with a range of 6.99 to 19.04 per cent, and an average of 12.02 per cent.

All of these results validate the potential for the definition of a significant HMS mineral resource at Koko Massava.

Additional laboratory results for AC drill samples are expected before Christmas.

AC samples were sent to Western GeoLabs in Perth for heavy liquid separation analysis.

Samples were initially over dried and broken down by hand, if required, then weighed and split to 100-gram sub-samples.

The sub-sample was then wet and weakened to ensure the further breakdown of any clay aggregates and then de-slimed to measure the slime per cent.

“We now await laboratory assay for the remaining 74 holes from this initial program and expect them to again reflect the high-grade visual estimations recorded in the field,” Andrew said.

MRG’s share price is currently up 4.55 per cent with shares trading for 1.2 cents apiece at 2:12 pm AEDT.

MRQ by the numbers
More From The Market Herald
Kingfisher Mining (ASX:KFM) - CEO & Executive Director, James Farrell

" Kingfisher Mining (ASX:KFM) completes drilling in WA

Kingfisher Mining (ASX:KFM) has completed drilling at two of its projects in the Gascoyne Mineral Field…

" Ardea Resources (ASX:ARL) confirms nickel-cobalt mineralisation at Goongarrie South

Ardea Resources (ASX:ARL) has confirmed high-grade, near-surface nickel-cobalt mineralisation at the Goongarrie South deposit in WA.

" Evolution Minerals (ASX:EV1) appoints Auramet to advise on project finance for Chilalo

Evolution Energy Minerals (ASX:EV1) has appointed Auramet International to help secure financing for its Chilalo graphite…
Meeka Gold (ASX:MEK) - CEO, Tim Davidson

" Meeka Gold (ASX:MEK) hits 4029ppm TREO at Cascade

Meeka Gold (ASX:MEK) has intersected up to 4029 parts per million (ppm) total rare earth oxides…