MRG Metals Limited announced the laboratory Total Heavy Mineral (THM) and mineralogical results of infill aircore drilling within the Viaria and Zulene Targets, located within the south of the Company's Corridor South (11137 C) HMS Project. Laboratory results from 7 infill aircore holes (comprising 4 holes at Zulene Target and 3 holes at Viaria Target) within Mining Licence Application (MLA) Corridor South (11137 C) have delivered some high THM results. The results from hole 22CCAC815 in Viaria in particular is very encouraging.

To date the Viaria target only had 1 aircore drilled. Even with the inclusion of these latest 3 holes, the area still remains totally under-drilled, however it now contains a significant >4% THM target of approximately 1.4 km¦. Importantly, mineralogical results from 6 composite HMC samples for Viaria and 5 composite HMC samples Zulene have confirmed the high VHM content of the HMC in the south and close to the red sand/white sand lithological boundary.

The high VHM content of the HMC for Viaria and the large >4% THM target area has confirmed Viaria as large target for high value HMC situated in the Red Sand lithology. The Viaria Target is also >1.5km from any town. With average VHM (Zircon, Rutile, Leucoxene, Altered Ilmenite and Ilmenite) results at Viaria at 63.5%, plus 19.1% Titanomagnetite, the valuable product of the HMC at Viaria Target is 82.6%.

The VHM is significantly higher than the average of 41% VHM found within the Koko Massava MRE area or the average 43% VHM from the Global Nhacutse and Poiombo MRE area. The Viaria and Zulene infill aircore drilling follows on from other targets generated (new Azaria Target, refer ASX Announcement 16 November 2022, the new Chihari Target, refer ASX Announcement 16 November 2022 and excellent results from the Malambane Target refer ASX Announcement 15 December 2022) from ongoing aircore drilling and mineralogical studies in and around the very strong lithological boundary in the eastern side of the Corridor licences, as well in the south of within Corridor South (11137 C) where the Viaria and Zulene targets are situated. Viaria is close to the red sand/white sand boundary, while Zulene Target is in the southwestern corner of the licence.

The laboratory THM% and mineralogy results in the 7 aircore drillholes (total 240.0m drilled), 3 in Viaria and 4 in Zulene, reported here are situated in the Type 1 red sand (refer ASX Announcements 11 August 2021 and 1 April 2022), but close to the lithological boundary. A total of 167 samples (inclusive of QAQC samples) were collected at 1.5m intervals and analyses at Western Geolabs in Perth, Australia. 6 Heavy Mineral Concentrate (HMC) composites samples from Varia and 5 HMC composites samples from Zulene, derived from all observed lithologies within the drillholes, were sent for mineralogical investigations.

Mineralogical investigation and analyses were done by SJMetMin Laboratories via XRF, XRD and QEMSCAN analyses.