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MRG Metals Limited ( (AU:MRQ) ) has issued an announcement.
MRG Metals Limited has confirmed the presence of four distinct alluvial deposit areas at its Adriano Rare Earth Project in Mozambique, with all 37 auger holes showing significant visible heavy minerals. This discovery, alongside the identification of high-grade heavy mineral concentrate layers within the active river system, suggests a potential district-scale mineralized catchment that includes the adjacent Fotinho area. The company plans further exploration and analysis to delineate the extent of these deposits and test the hypothesis that pegmatite veins could be the primary source of rare earth enrichment.
More about MRG Metals Limited
MRG Metals Limited is a company operating in the mining industry, focusing on the exploration and development of mineral resources. The company primarily targets rare earth elements (REE) and heavy mineral sands, with a market focus on expanding its mineral resource base in Mozambique.
Current Market Cap: A$13.63M
See more insights into MRQ stock on TipRanks’ Stock Analysis page.