MRG Metals Limited announced the laboratory and mineralogical results of the new Cihari High VHM Target, located within the north- east of the Company's Nhacutse deposit in the Corridor South (11137 C) HMS projects. Laboratory results from 5 aircore drillhole (22CCAC790 22CCAC794) within the north-east of the Nhacutse deposit confirmed the high-grade laboratory THM grades from 2 historic reconnaissance aircore and 1 auger drillholes. The new approximately 1.3km² Cihari Target has therefore been confirmed as a significant VHM target.

The 2 historic aircore drillholes returned >4% THM laboratory results (20CSAC540 @ 4.21% THM over 24.0m from surface and 20CSAC587@ 4.22% THM over 30.0m from surface; refer ASX Announcements 24 November 2020 and 7 January 2021), combined by the new results of 22CCAC790 (4.20 % THM over 36.0m from surface) and 22CCAC794 (4.26 % THM over 36.0m from surface) indicates an approximate 1km² area of >4%THM within the Cihari Target. Drill spacing in the Cihari target is at <500m inter-hole spacing. Importantly, mineralogical results from 4 lithologically composited HMC samples from the 5 aircore drillholes has confirmed Cihari as an exciting new large target for high value HMC situated in the Red Sand lithology.

With average VHM (Zircon, Rutile, Leucoxene, Altered Ilmenite and Ilmenite) results from the 4 samples at 58.1%, plus 21.6% Titanomagnetite, the valuable product of the HMC at Cihari Target is 79.7%. 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.