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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 (-12.50%)+
Announcement
Release
1 Jul 2026 9:28AM
Price at Release
$0.004
Full Release
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Summary
MRG Metals Limited has reported significant assay results from the Fotinho Rare Earth Element (REE) project, specifically through auger drilling in alluvial targets which identified high Total Heavy Mineral (THM) contents. The 57 auger drill holes at Fotinho yielded results where 26 holes had THM greater than 3% over the entire drilling depth, with the highest recorded grade being 7.69% THM. The findings reinforce the mineral potential across the combined Adriano-Fotinho area, which covers approximately 396.42 square kilometers, and build upon previous positive mineralogical reports from the Adriano project. The subsequent grid-based auger drilling aims to further assess the potential size of the mineralized footprint. These results highlight the potential for a district-scale rare earth corridor, as part of the company's ongoing exploration initiatives in the Mozambique Metamorphic Province.
Key Points
  • 57 auger drill holes were analyzed at Fotinho.
  • 26 holes returned THM results greater than 3%.
  • Highest THM grade recorded was 7.69%.
  • The exploration area spans 396.42 square kilometers.
  • Alluvial heavy mineral potential confirmed at Adriano-Fotinho area.
  • Grid-based auger drilling planned to assess the mineralized footprint.
  • Potential for a district-scale rare earth corridor identified.
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.