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MRG Metals Limited ( (AU:MRQ) ) just unveiled an announcement.
MRG Metals has issued a clarification on earlier announcements concerning its Corridor North and Marao heavy mineral sands joint venture drilling, specifically rectifying how it described mineral resource and exploration target figures for the adjacent Corridor Central and Corridor South projects. The company now confirms that these projects collectively host more than 2 billion tonnes of Global Indicated and Inferred JORC mineral resources and that the correct combined Exploration Target range is 170 million to 1,130 million tonnes, replacing a previously cited 700 million tonne figure.
The company has formally retracted the standalone 700 million tonne Exploration Target statement and emphasised that the updated target ranges are based on previously reported drilling and assays, largely in areas within towns and villages that fall outside the existing JORC resource boundaries. MRG also reiterated that there has been no material new information affecting its prior resource estimates, noted that a mining right for Corridor Central has been granted while Corridor South remains under review, and restated the conceptual nature and associated uncertainty of its Exploration Targets under JORC guidelines.
More about MRG Metals Limited
MRG Metals Limited is an Australian-listed resources company focused on heavy mineral sands projects in Mozambique. Its primary assets include the Corridor Central and Corridor South titanium dioxide projects, where the company has defined substantial JORC-compliant mineral resources and is progressing mining rights to advance potential development.
Current Market Cap: A$8.96M
See more data about MRQ stock on TipRanks’ Stock Analysis page.