MRG Metals Confirms High-Grade Alluvial Rare Earth Targets at Fotinho

Strong Alluvial Rare Earth Mineralisation at Fotinho

MRG Metals Limited (ASX:MRQ) has delivered a significant boost to its Mozambique rare earth portfolio with high-grade total heavy mineral (THM) assay results from 57 auger drillholes at its Fotinho Rare Earth Project. The latest assays confirm that 26 of these holes returned THM grades exceeding 3% across their entire drilling depth, with the standout sample hitting 7.69% THM over 1 metre. Notably, some holes, such as FHA26044 and FHA26046, recorded elevated grades above 4% THM extending to 3 metres depth, indicating promising vertical continuity in these alluvial deposits.

The weighted average across all 57 holes stands at a robust 2.95% THM over an average thickness of 1.38 metres, underscoring the substantial presence of heavy minerals in the alluvial sediments. This auger drilling campaign builds on earlier results from 32 holes at Fotinho and 46 holes at the adjacent Adriano project, collectively covering a 396.42 square kilometre area. Together, these findings reinforce the existence of a significant alluvial heavy mineral system spanning the Adriano-Fotinho corridor.

Valuable Heavy Mineral Content Supports Rare Earth Potential

Complementing the assay results, mineralogical analysis of heavy mineral concentrate (HMC) samples from Adriano revealed a substantial proportion of valuable heavy minerals: 1.9% monazite, 2.3% rutile, 1.9% zircon, 1.8% leucoxene, and a dominant 24.4% ilmenite, amounting to a total of 32.2% valuable heavy minerals. Monazite is particularly noteworthy for its rare earth element content, which is central to the project's strategic appeal.

These mineralogical insights, combined with the high THM grades, suggest the alluvial deposits could serve as a viable source of rare earth elements. The company plans to follow up with grid-based auger drilling to better delineate the strike, width, and depth of the mineralised alluvial system, a necessary step before any resource estimation can be considered.

Next Steps and Exploration Momentum

MRG Metals is advancing rapidly, with grid drilling programs set to commence to define the scale of the mineralised footprint. Additional mineralogical studies of HMC samples from Fotinho, alongside detailed lithological investigations at Adriano, are underway to refine the geological model and assess the rare earth element potential more precisely.

Non-Executive Director Chris Gregory highlighted the emerging district-scale rare earth corridor concept, noting that the new southeast drilling aligns with mapped pegmatite trends and historic high-grade stream results. Chairman Andrew Van Der Zwan emphasised the momentum building across the Adriano-Fotinho corridor, with ongoing drilling and sampling steadily enhancing the company's understanding of this rare earth opportunity.

While the current results are encouraging, the auger drilling is early-stage and some holes did not reach the base of the alluvial deposits due to the water table or coarse materials. This means the true extent and geometry of the deposits remain to be fully defined, underscoring the importance of the upcoming grid-based drilling and further testwork.