ASX-listed MRG Metals has been granted a new exploration licence – the Olinga 11005L exploration licence – in Mozambique, targeting uranium and rare earth elements (REEs).
The new Olinga uranium and REE project is situated 890 km north-east of MRG’s Corridor Central and Corridor South heavy mineral sands (HMS) mining licence applications (MLAs) and 270 km north-northeast of the port city of Beira.
The Olinga exploration licence was granted based on highly elevated uranium signature from regional aerial geophysical survey work, in comparison with elevated thorium within the recently granted Adriano REE licence and an additional applied-for REE exploration licence application.
On-the-ground exploration will begin in the second quarter, following completion of the environmental management plan, with a focus on the different ages of granitic intrusives and the contacts between the different bodies.
“We are delighted the Olinga [exploration licence] has now been granted, paving the way for our exploration team in Mozambique to commence an exploration programme this quarter. Olinga is an exciting prospect for MRG that expands our presence in Mozambique, whilst diversifying our commodity base even further into uranium and REEs.
“We look forward to commencing our initial activities on site and will update the market on the work programme we will undertake once it has been finalised,” chairperson Andrew Van Der Zwan says.