MRG METALS LTD MRG Metals Limited announced the excellent laboratory and mineralogical results of the Malambane High VHM Target, located within the east of the Poiombo Mineral Resource Estimate (MRE) area of the Company's Corridor South (11137 C) HMS projects. Malambane infill aircore drilling was undertaken as part of a drilling program to define the high VHM content of the Heavy Mineral Concentrate (HMC) close to the well-established red sand/white sand lithological boundary. The drilling took place in the red sand, close to the lithological boundary.
Drilling in the Malambane target area previously was very widely spaced (1,000m by 500m), with the drilling of these latest 15 infill aircore holes bringing spacing to approximately 500m by 500m. Laboratory results from the 15 infill aircore drillhole (22CCAC800 Â 22CCAC813 and 22CCAC821) returned excellent results, with: 3 holes (22CCAC802, 22CCAC804 and 22CCAC821) with >6% THM, 2 holes (22CCAC805 and 22CCAC810) with 5-6% THM, 4 holes (22CCAC801, 22CCAC806, 22CCAC809 and 22CCAC813) with 4-5% THM, and The remaining 6 holes with 3-4% THM, all mineralised from surface. The Silt content for the 15 holes is on average 14.3%.
During the completed Corridor Project Scoping Study (refer ASX Announcement 2 November 2021), 2 high grade pit areas were identified, one west of the town of Poiombo, the other east of Poiombo on the red/white sand boundary. The western pit has a surface area of approximately 0.9km², while the eastern has a surface area of approximately 0.3km². The eastern pit was based on the laboratory results of the historical aircore hole 20CSAC352 (refer Figure 4 and ASX Announcement 25 March 2020), this hole drilled in early 2020 was twinned during the report period by hole 22CCAC821, with very good correlation in the results thus clearly proving the very high grade in this area.
The >5% THM grades from new aircore holes 22CCAC802, 22CCAC804, 22CCAC805, 22CCAC810, as well as the 5.93% THM over 36.0m from surface in the historical aircore drillhole 20CSAC349 (refer ASX Announcement 25 March 2020) shows the large approximately 1.3km² high-grade Malambane Target (blue area) situated outside the current Scoping Study pit area in the east of the Poiombo MRE area. This target area is larger than the combined area of the 2 current Poiombo pit areas in the Scoping Study, thus clearly showing the potential for additional very high grade sand in the Malambane Target.
