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An update from MRG Metals Limited ( (AU:MRQ) ) is now available.
MRG Metals has reported further high-grade total heavy mineral results from auger drilling at the fifth alluvial target at its Adriano Rare Earth Project in Mozambique, confirming surface mineralisation consistent with strong grades from four previously tested targets. The five target areas lie within a drainage system that has returned anomalous rare earth oxide values, supporting the potential for a low-cost development pathway.
Across the fifth target, five of nine holes exceeded 3% total heavy minerals over full depth and averaged 3.19% over 3.12 metres, while earlier drilling across the first four targets averaged 4.50% over 2.84 metres with individual samples up to 9.56%. With mineralisation now established across all five areas and further mineralogical, regional and pegmatite sampling work under way, MRG is positioning Adriano-Fotinho as a district-scale critical minerals corridor that could underpin expanded exploration and future resource definition activity.
The most recent analyst rating on (AU:MRQ) stock is a Sell with a A$0.01 price target. To see the full list of analyst forecasts on MRG Metals Limited stock, see the AU:MRQ Stock Forecast page.
More about MRG Metals Limited
MRG Metals Limited is an ASX-listed exploration company focused on critical minerals, including rare earth elements and valuable heavy minerals such as ilmenite, rutile and zircon. The company is advancing its Adriano Rare Earth Project in Mozambique, targeting surface alluvial mineralisation within a broader critical mineral corridor that may also host primary hard rock sources.
Current Market Cap: A$11.94M
For a thorough assessment of MRQ stock, go to TipRanks’ Stock Analysis page.