JV Partner Funds Drilling at Marao HMS Project
| Stock | MRG Metals Ltd (MRQ.ASX) |
|---|---|
| Release Time | 6 May 2026, 9:05 a.m. |
| Price Sensitive | Yes |
JV Partner Funds Drilling at Marao HMS Project
- Sinowin Lithium to fund drilling at the Marao (6842L) project in Mozambique
- Drilling to target infill and expansion of the Magonde Heavy Mineral Sands target
- Follows Sinowin's commitment to fund drilling at the Corridor North (10779L) project
MRG Metals Limited (ASX: MRQ) is pleased to announce that its Joint Venture partner, Sinowin Lithium, has committed to fund drilling at the Marao (6842L) Titanium Dioxide Project in Mozambique. The Sinowin-funded program will target infill and expansion drilling at the Magonde Heavy Mineral Sands target, building on MRG's previously completed 100-hole auger drilling program. Key results from the earlier drilling include individual 1.5m interval samples returning grades as high as 4.57% Total Heavy Mineral (THM), with standout holes such as 24MUHA048 at 4.0% THM and 24MUHA070 at 3.4% THM, both from surface to 13.5m depth. The laboratory results also averaged 8% higher THM grades than visually estimated values, and the Valuable Heavy Mineral (VHM) content was confirmed at 48.16% of THM, including rutile, zircon, leucoxene and ilmenite, with titanomagnetite at 12.35% of the heavy mineral concentrate. Geological continuity was confirmed across the 100 holes totalling 1,350 metres. 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 mine start-up. The 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.
Sinowin has indicated a first-year production target of 130,000 to 160,000 tpa of heavy mineral concentrate, with a five-year ramp-up goal of 800,000 tpa.
Sinowin has a view to progress Marao drilling to deliver a maiden Mineral Resource Estimate, as the company is acutely aware of the time required to move a licence from exploration to mining and looks to bring forward the necessary milestones required at Marao.