Australian miner MRG Metals announced on Friday that samples taken from its concession in Nhacutse, which is located in its Southern Corridor project in Gaza province, in southern Mozambique, confirm that Nhacutse contains very high content heavy mineral sands. Seventeen samples were taken that show an estimated 140 million cubic meters of soil with more than five percent of the total heavy mineral content. According to company president Andrew Van Der Zwan, this means that “MRG is confident that Nhacutse could provide a significantly larger high-grade resource than we originally intended,” he said, adding, “given the depth of the resource that drilling is detailing, we could be looking at a 200m tonne high-grade resource at Nhacutse.” MRG Metals will now launch a contest to find an independent company to calculate a formal mineral resource estimate. The company also announced that a mineralogical study of the samples will be reported shortly. Following Friday’s announcement, the company’s shares on the Australian Securities Exchange jumped 12.5 percent. In Mozambique, heavy mineral sands are exploited due to their titanium and zircon content. Ilmenite and rutile are used to make white pigments for paint, paper and plastic. Titanium can be extracted from these ores and used to manufacture metal parts where lightness and high strength are required. Zircon is used for abrasive and insulating purposes. (Letter) Source: Mozambican Letter
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