MRG Metals Limited (ASX: MRQ) has announced the results of its Phase 2 exploration assays at the Shawa Carbonatite Mining Licences in Zimbabwe, revealing high-grade phosphate (P₂O₅) and rare earth element (REE) mineralization. This exploration phase follows portable XRF (pXRF) analysis, now confirmed by laboratory assays conducted by SGS in Johannesburg, South Africa. These findings have set the stage for further targeted exploration, including trenching and drilling to assess the tonnage and continuity of these deposits.

Key Findings:

• Phosphate (P₂O₅) Assays: The highest assay values from outcrop and subcrop samples reached up to 17.24% P₂O₅, with 21 of the 163 samples returning values above 3%. Soil sample assays reached up to 8.04% P₂O₅, with 96 of the 292 samples showing values above 1%.
• Rare Earth Oxides (TREO and MREO): TREO levels were measured as high as 2,522 ppm in outcrop/subcrop samples and up to 1,103 ppm in soil samples. Magnetic rare earth oxides (MREO) values were up to 508 ppm in outcrop/subcrop samples and 295 ppm in soils, indicating significant concentrations of NdPr and TbDy oxides.
• Strontium (Sr) and Niobium (Nb): Elevated Sr levels were found in both outcrop/subcrop (up to 5,000 ppm) and soil samples (up to 1,366 ppm). Nb oxide assays reached 658 ppm in outcrop/subcrop samples and 919 ppm in soil samples.

Next Steps in Exploration:

To further delineate these promising mineralized zones, MRG Metals plans to conduct trenching across identified phosphate targets in both soil and rock, followed by Reverse Circulation (RC) drilling. Additional sampling and mineralogical studies will focus on the characterization of REEs in monazite and xenotime and the REE composition within apatite.

Comments from MRG Metals’ Chairman, Andrew Van Der Zwan:

“These impressive assay results reinforce the potential for significant phosphate and rare earth mineralization at the Shawa Carbonatite Project. With these findings, MRG is well-positioned to advance the next phase of exploration in Zimbabwe, including trenching and initial drilling. This discovery adds substantial value to MRG’s exploration portfolio across multiple jurisdictions, and we look forward to updating the market on our progress.”

Exploration Targets and Geological Context:

The assay results have helped define seven key exploration targets based on high-grade P₂O₅, TREO, and MREO values across both outcrop and soil samples. These targets are strategically located within the Shawa carbonatite structure, highlighting areas of significant geological interest for potential phosphate and REE mineralization.