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MRG Metals Limited (ASX:MRQ)

ALERT: Price-sensitive ASX Announcement for MRQ
Current share price for MRQ : $0.004 -0.002 (-30%)+
Announcement
Release
27 Oct 2025 9:47AM
Price at Release
$0.005
Full Release
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Summary
MRG Metals Limited has announced the successful auger drilling at its Adriano Rare Earth Project in Mozambique, identifying four distinct alluvial deposit areas. The drilling involved 37 holes, all of which showed significant heavy mineral material, indicating notable rare earth mineralization potential. The samples, totaling 126, are being sent for laboratory analysis to determine the rare earth elements (REE) content. These findings suggest the possibility of a continuous rare earth mineralized system extending across both the Adriano and adjacent Fotinho licenses. The next phase of exploration includes more detailed auger drilling and trenching to further assess the deposits and the primary source rocks, with results expected in early 2026.
Key Points
  • 37 auger holes and 126 samples showed significant heavy mineral material.
  • Identified four distinct alluvial deposit areas at the Adriano project.
  • Samples are being analyzed for rare earth elements content.
  • Potential continuous rare earth system across Adriano and Fotinho licenses.
  • Next phase includes more detailed drilling and trenching.
  • Results from analyses expected in early 2026.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.