MRG Metals secures Olinga 11005L exploration licence

MRG Metals Limited (ASX: $MRQ) has announced the granting of a new exploration licence in Mozambique targeting Uranium (U) and Rare Earth Elements (REEs), the Olinga 11005L Exploration Licence (EL). The licence covers an area of 16,534.47 hectares and is located 270 km Northeast of the port city of Beira. The exploration team is scheduled to commence on-the-ground exploration in Q2 2024, following the completion of the Environmental Management Plan.

MRG Metals Chairman's Comments on Olinga 11005L Exploration Licence

We are delighted the Olinga Exploration Licence 11005L has now been granted, paving the way for our exploration team in Mozambique to commence an exploration program this quarter. Olinga is an exciting prospect for MRG that expands our presence in Mozambique, whilst diversifying our commodity base even further into uranium and rare earth elements. We look forward to commencing our initial activities on-site and will update the market on the work program we will undertake once it has been finalised.

Summary of MRG Metals' Olinga 11005L Exploration Licence

MRG Metals Limited (ASX: $MRQ) has secured the Olinga 11005L Exploration Licence in Mozambique, targeting Uranium (U) and Rare Earth Elements (REEs). The new project expands the company's presence in Mozambique and diversifies its commodity base. The on-the-ground exploration is set to commence in Q2 2024, focusing on the different ages of granitic intrusives and the contacts between the different bodies. The company's Chairman, Mr Andrew Van Der Zwan, expressed excitement about the new licence, highlighting its potential to further enhance MRG's presence in Mozambique and expand into uranium and rare earth elements. The company plans to update the market on the work program once it has been finalized.