JV Partner Funds Drilling at Corridor North HMS Project
| Stock | MRG Metals Ltd (MRQ.ASX) |
|---|---|
| Release Time | 1 May 2026, 9:16 a.m. |
| Price Sensitive | Yes |
JV Partner Funds Drilling at Corridor North HMS Project
- Sinowin Lithium, MRG's Chinese JV partner, to fund drilling at the Corridor North project
- Commitment extends Sinowin's investment beyond the 2 billion tonne Corridor Central and Corridor South projects
- Drilling to support mining licence application for Corridor North
MRG Metals Limited (ASX: MRQ) ('MRG' or 'the Company') has announced that its Joint Venture partner, Sinowin Lithium, has committed to fund drilling at the Corridor North Titanium Dioxide Project in Mozambique. This commitment coincides with significant progress at the 2 billion tonne JORC-compliant Corridor Central and Corridor South project, where Sinowin has provided a detailed development plan targeting 2027 for commencement of initial production. The Environmental and Social Impact Assessment (ESIA) for Corridor Central was prepared and submitted to Mozambican authorities in March 2026, with the Resettlement Action Plan (RAP) targeted for completion in June 2026. The Corridor Sands Project also benefits from established regional infrastructure, including sealed road access, proximity to grid power, and the nearby Port of Chongoene, located approximately 20 kilometres from Corridor Central. At Corridor North (10779L), MRG has completed an initial auger drilling program with early results demonstrating strong heavy mineral sands mineralisation. The additional drilling funded by Sinowin will target expansion of known mineralisation and provide the geological information required to support a mining licence application.
Sinowin has indicated a first-year production target of 130,000-160,000 tpa of heavy mineral concentrate, with a five-year ramp-up goal of 800,000 tpa for the Corridor Central and Corridor South projects.
Sinowin's ongoing investment at Corridor North, ahead of its scheduled entry into the JV, reinforces the strength of this partnership across the full corridor. With more than US$2 million already committed, ESIA approval in hand, and first production targeted for 2027, the 2 billion tonne project continues to advance on all fronts while MRG remains free-carried.