MRG Metals expands exploration efforts

MRG Metals (ASX:MRQ) has been granted a new exploration licence, Fotinho 11000, in Mozambique. This licence covers 19,865.18 hectares in a promising Thorium (Th) and Rare Earth Element (REE) district. The area is near the Adriano REE and Th project and holds potential for high-grade REE deposits. This exploration is part of MRG's strategy to explore unexplored mineral districts.

MRG Metals' strategic exploration outlook

MRG Metals has secured the Fotinho 11000 exploration licence in Mozambique, covering a substantial area with promising potential for high-grade REE and Th deposits. This aligns with the company's strategy to expand its portfolio by exploring underdeveloped mineral districts. Historical and recent data suggest significant Th and REE grades, which MRG plans to explore further. The company intends to initiate a detailed exploration program, focusing on both primary and alluvial deposits, once environmental and seasonal conditions permit. This development supports MRG's ambition to capitalize on its strategic position in the global REE market.

Executive insights on exploration strategy

The granting of the Fotinho 11000 exploration licence presents a significant opportunity for MRG Metals to explore a highly prospective area for REE and Th. The close proximity to our Adriano project, combined with the historical data indicating elevated grades, positions us well to potentially uncover new high-grade deposits. Our strategic exploration program will leverage our experience and focus on both primary and alluvial deposits. We are committed to advancing our exploration efforts while considering environmental impacts and logistical requirements.