MetalsGrove Mining Limited announced that a recently completed airborne magnetic survey has confirmed a large magnetic corridor of interest at the Company's Woodie Woodie North Manganese Project in Western Australia. The airborne geophysical survey has highlighted multiple structures coincident with the source area and with surface geochemistry. The results of the magnetic and radiometric survey, coupled with the pre-existing geochemistry data, provides a suite of compelling targets as the Company advances towards a maiden drilling program planned later this year.

Survey Background; During August 2022, Thomson Airborne Surveys Pty Ltd. completed a detailed airborne magnetic and radiometric survey to test the Company's Woodie Woodie North Manganese (Mn) Project. The survey included an area with previously defined Mn geochemical anomalies. Preliminary data has been interpreted and final data will be processed and interpreted shortly.

This will include modelling if required to assist confirmation of source spatial location/geometry. A total of 24 anomalies were picked and ranked from enhanced imagery. From these, 12 priority main initial targets were delineated.

Further, of these targets, six stand out as extensive and are associated with the broad conductor identified from the electromagnetic and radiometric regional AEM survey. These targets cover approximately 8km of the "Magnetic Signature" interpreted to lie along the eastern and western complex in its Rippon Valley target area. It is worth noting that geochemical trend and magnetic anomalism coincide at Rippon Valley.

A number of both discrete and elongated magnetic anomalies of potential Mn exploration interests have been highlighted by this recent detailed aeromagnetic surveying, elongated anomalies are curvilinear in nature with clear structural breaks/disruptions within the broader corridor. Of particular interest is the eastern magnetic trend which has clear Mn mineralisation present at its southern extremity. Two intrusive type magnetic anomalies were also highlighted and warrant further investigation.

Follow-up ground investigation is required to further rank target areas/trends and then most likely additional geophysical surveys such as passive or active AEM or ground IP will be required to refine highest priority prospects for drill targeting.