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MRG Metals Limited (#ASX: $MRQ) is pleased to announce the commencement of field exploration at its Olinga Uranium and Rare Earth Exploration Licence (EL: 11005L).
Key Highlights:
✅ Stream sediment / alluvial sampling, mapping and outcrop sampling is underway to test elevated uranium/thorium anomalies identified from geophysical surveys (refer ASX Announcement 3 April 2024) within the ~16,535-hectare Olinga exploration licence (EL: 11005L), with first assay results expected in Q2 CY26.
✅ Radiometric anomalies consistent with uranium-bearing systems identified within the licence area from regional airborne geophysical surveys.
✅ Olinga shows a higher uranium-to-thorium ratio than the Adriano and Fotinho licences in the same geological province, where historic soil sampling at Fotinho confirmed the presence of Monazite with Thorium grades as high as >1,000 ppm Th in soil sampling and 559 ppm Th in a rock sample.
✅ Olinga presents an opportunity to add a fourth project to MRG's portfolio, reinforcing the Company's strategy to become a diversified critical minerals company specialising in rare earths and other high-value commodities.
✅ A successful exploration outcome at Olinga would complement MRG's three existing projects - the Adriano-Fotinho Rare Earth Corridor in Mozambique, the high-grade Garies Rare Earth Project in South Africa and the fully funded Mozambique Titanium Dioxide Joint Venture.
Read more: cdn-api.markitdigital.com/apiman-gateway…
#OlingaExploration #MRGMetals #ASX #RareEarths #CriticalMinerals #MineralSands #Mining #Mozambique

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