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MRG Metals Limited (ASX:MRQ)

ALERT: Price-sensitive ASX Announcement for MRQ
Current share price for MRQ : $0.004 0.001 (14.29%)+
Announcement
Release
6 May 2026 9:05AM
Price at Release
$0.004
Full Release
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Summary
MRG Metals Limited has announced that its joint venture partner, Sinowin Lithium, will fund further drilling at the Marão Titanium Dioxide Project in Mozambique. This initiative aims to expand and infill known mineralisation areas, building on MRG's previous 100-hole auger drilling program that confirmed geological continuity and high-grade Total Heavy Mineral content. Sinowin's investment of over US$2 million into this JV has already led to the establishment of a significant JORC-compliant Mineral Resource at Corridor Central and South. With Environmental and Social Impact Assessment approvals in place, the JV is set to target a 2027 production start, aiming for an initial annual production of 130,000 to 160,000 tonnes, eventually ramping up to 800,000 tonnes. This project also aligns with MRG's broader strategic plans for growth and development in the region.
Key Points
  • Sinowin Lithium, JV partner, funds drilling at Marão project targeting infill and expansion.
  • The Marão project is located in Mozambique and focuses on Titanium Dioxide.
  • Drilling aims to build on MRG's previous 100-hole auger program results.
  • Key previous results include high Total Heavy Mineral (THM) grades up to 4.57%.
  • Geological continuity confirmed over 1,350 meters of drilling.
  • Sinowin has committed over US$2 million to the JV.
  • JORC-compliant Mineral Resource established at Corridor Central and South.
  • Sinowin secured Environmental and Social Impact Assessment approval.
  • Production targets set for 2027 with initial 130,000 to 160,000 tpa, ramping up to 800,000 tpa.
  • The JV supports MRG's broader exploration and development plans in Mozambique.
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.