MRG Metals (ASX: MRQ) has extended the known heavy mineral sands mineralisation at its wholly-owned Koko Massava project in Mozambique.
The company said the mineralised footprint know goes beyond 20 square kilometres.
Assays from auger drilling at Koko Massava have generated numerous HMS intersections, with MRG noting mineralisation remains open in all directions, with a number of auger drill holes ending in high-grade mineralisation.
Notable assays from the program were 10.5m at 6.15% total heavy mineral from surface and ending in 6.05% THM; 10.5m at 5.92% THM from surface and ending in 5.56% THM; and 10.5m at 5.85% THM from surface and ending in 6.63% THM.
Commenting on the latest drill results, MRG chairman Andrew Van Der Zwan said Koko Massava continues to grow in scale.
“As well, its high-grade nature is reinforced by this next batch of outstanding assays.”
“Also pleasing is the number of 10.5m auger drill holes that are ending in high-grade mineralisation.”
He added the company had every confidence the project’s mineralised footprint would extend “well beyond” the 20sq km currently delineated.
Advancing Koko Massava
The latest assays are from an infill drilling program that Mr Van Der Zwan says is advancing well and started in late September.
Further assays are anticipated to come in at a steady pace, with drilling to wind up before the end of the month.
Prior to being sent to the lab for analysis, MRG has been undertaking visual estimates during field sampling and logging.
The company noted that lab results have “compared favourably” to its own estimates confirming the conservative approach it takes.
Mr Van Der Zwan said he believes Koko Massava is likely to become another one of Mozambique’s “very large and high-grade HMS deposits”.
The ongoing positive drill results spurred MRG’s share price up almost 30% to trade at $0.009 by mid-afternoon.