11 Dec 2023

MetalsGrove Mining surges on acquiring high-grade lithium assets in Zimbabwe

MetalsGrove Mining Ltd (ASX:MGA) is trading higher on entering into a strategic agreement to acquire six, contiguous and highly prospective lithium-tin-tantalum claims in Zimbabwe, in what the company considers a “transformational” opportunity.

The newly acquired claims are close to the ‘world-class’ Arcadia Minerals lithium-producing mine in Zimbabwe, which is one of the world’s largest lithium mines producing up to 450,000 tonnes per annum of lithium concentrate.

Notably, five claims are within the well-known Goromonzi lithium belt with the sixth claim located in the Beatrice lithium belt.

Looking ahead, MGA’s technical team is finalising plans for an initial exploration campaign which is due to kick off in the March quarter of 2024.

The markets have welcomed the news with shares trading as high as $0.105, up 40% from the previous close.

“Transformational opportunity”

MetalsGrove managing director Sean Sivasamy said: “MetalsGrove is very excited to be acquiring these advanced lithium assets which provide the company with prime exposure to the proven lithium-producing district in Zimbabwe. 

“Importantly, the upfront acquisition terms are modest, allowing the company to set about rapidly advancing these projects through a targeted exploration campaign early next year.

“Further highlighting the near-term development potential of these projects, we will be located nearby to accessible high-quality infrastructure and a large-scale lithium processing facility.

“The board considers this a transformational opportunity for MGA supported by a strong lithium market and we look forward to advancing these assets as quickly as possible over the coming months.”

Project location (Arcturas and Beatrice projects) 

Asset summary

The new claims spanning 510 hectares are situated across the Arcturas and Beatrice projects, where recent rock chip samples have returned grades up to 2.5% and 2.1% lithium respectively.

Arcturas Lithium Project (ALP) is 35 kilometres northeast of Harare and the Beatrice Project is 55 kilometres south of Harare.

The ALP is also close to the Arcadia Lithium Mine and the Arcturas Gold Mine.

The Arcadia Minerals lithium mine was purchased by Zhejiang Huayou Cobalt in 2022 for US$422 million.

Well-known pegmatite zone

This region is the most well-known pegmatite zone that is mineralised in spodumene, lepidolite, beryllium, tantalum and caesium.

The lithium minerals consist of spodumene and lepidolite-bearing pegmatites and are populated by several artisanal workings and pegmatite surface outcrops.

 The pegmatites are exposed at the surface and close to the surface with some of the pegmatites being flat-lying.

Article Courtesy of Proactive

14 Aug 2023

MetalsGrove Mining soars on hitting high-grade rare earths up to 7,000 ppm TREO at Arunta’s Bruce Prospect

MetalsGrove Mining Ltd (ASX:MGA) has soared on confirming high-grade rare earth element (REE) carbonatite mineralisation up to 7,000 parts per million (ppm) total rare earth oxide (TREO) during reverse circulation (RC) drilling at the Arunta Project’s Bruce Prospect in the Northern Territory.

Importantly for any future development scenario, the most significant intersections are near the surface.

Investors have responded strongly at the market open, sending MGA shares 63.7% higher to $0.18.

The critical metals exploration and development company last month completed 16 reverse circulation (RC) holes for 2,343 metres designed to test high concentrations of valuable magnetic and heavy rare earth elements from soil sampling.

What the results show

Drilling has confirmed that the carbonatite outcrops extend east-west over 9 kilometres and remain open.

Standout results from the RC drilling include:

Plenty River

  • BRR23016 – 2 metres at 4,000 ppm (0.4%) total rare earth oxide (TREO) and 35% magnetic rare earth oxide/rare earth oxide (MREO/REO), 27% neodymium and praseodymium (NdPr/TREO) from 21 metres, including 7,000 ppm (0.7%) TREO, 35% MREO/TREO, 28% NdPr/TREO from 21 metres; and
  • BRR23009 – 3 metres at 1,010 ppm TREO and 28% MREO/TREO, 41% HREO/TREO and 17% yttrium oxide (Y₂O₃/TREO) from 10 metres, including 2 metres at 1,300 ppm TREO and 29% MREO/TREO, 19% NdPr/TREO and 23% Y₂O₃/TREO from 10 metres.

Plenty River East

  • BRR23003 – 33 metres at 13% magnesium oxide (MgO) from 39 metres and 3 metres at 535 ppm vanadium oxide (V₂O₅) from 45 metres;
  • BRR23002 – 26 metres at 17% MgO from 30 metres; and
  • BRR23001 – 4 metres at 2.6% titanium dioxide (TiO₂) from 63 metres.

Bruce

  • BRR23013 – 1 metre at 7,785 ppm copper oxide (CuO) (0.8% CuO) from 103 metres, 3 metres at 1,000 ppm lead oxide (PbO₂) from 63 metres, 2 metres at 1,170 ppm PbO₂ from 84 metres and 3 metres at 1,245 ppm zinc oxide (ZnO) from 63 metres, 2 metres at 1,710 ppm ZnO from 83 metres; and
  • BRR230014 – 6 metres at 1.7% TiO₂ from 102 metres.
Chips from drill hole BRR23016 showing mineralisation with biotite schist and gneiss alteration.

“Clear potential”

The explorer believes that the grades returned in the Bruce drilling favour the project if sufficient tonnes can be found.

“We are delighted with the initial outcomes from our first drilling campaign at Bruce,” MetalsGrove managing director Sean Sivasamy said.

“These results demonstrate the clear potential for Bruce to host a considerable carbonatite and REE system with the outcropping strike of now extending over 9 kilometres.

“The Bruce Prospect is shaping as an excellent opportunity for MGA and demonstrates the underlying exploration potential of our Arunta Project area in the Northern Territory – a region home to several world-class deposits.”

Article courtesy of Proactive

03 Jul 2023

MetalsGrove Mining winds up maiden drilling at Bruce rare earths prospect in Northern Territory

Critical metals exploration and development company MetalsGrove Mining Ltd (ASX:MGA) has wrapped up its first reverse circulation (RC) drilling program at the Bruce Rare Earth Element (REE) Prospect, Northern Territory.

The Bruce prospect is part of the company’s Arunta Project, north of Alice Springs in the Central Desert Region of the Northern Territory and covers an area of around 17,722 hectares.

Program on time and on budget

The maiden 2,343-metre program was completed on time and within budget. A total of 16 RC holes were drilled to test several high-priority targets including identified multiple carbonatite and REE-bearing drill targets recently reported from soil sampling.

A recent aeromagnetic and surface geochemistry program also defined a 1,000-metre by 600-metre intrusive system considered highly prospective for REE mineralisation at the prospect.

Initial observations indicate that the carbonatite system is continuous, with a similar weathering profile to that intersected in the mineralised discovery holes.

Last year MGA reported that it had identified a broad conductor along strike from the Plenty River mine which is adjacent to magnetic features interpreted to be components of the pegmatite intrusion.

Strike includes multiple mineralised areas

The company is confident that strike extends over 9 kilometres, with multiple parallel mineralised areas and a high percentage of valuable magnetic and heavy rare earth elements.

Significant rare earth occurrences have been found in the Harts Range and Plenty River mica fields within the Irindina Province and MGA is exploring pegmatite, breccia, vein and alteration-hosted rare earth mineralisation at Bruce.

A Northern Territory Geological Survey (NTGS) in the early 2000s identified numerous pegmatites hosting rare earth occurrences in the Arunta region, including the Plenty River mica mine area.

MGA’s soil sampling confirmed the following:

  • up to 1,800 parts per million (ppm) total rare earth oxide (TREO);
  • 38% heavy rare earth oxide (HREO)/TREO;
  • 31% magnet rare earth oxide (MREO)/TREO;
  • 23% neodymium-praseodymium (NdPr)/TREO; and
  • 23% Yttrium Oxide (Y2O3)/TREO.

First results from this maiden drilling program are expected to be reported to the market within 4-6 weeks.

Article Courtesy of Proactive

26 Jun 2023

MetalsGrove Mining has RC drill spinning in maiden Box Hole and Edwards Creek program in NT

MetalsGrove Mining Ltd (ASX:MGA) has set the reverse circulation (RC) drill spinning in maiden drilling testing the Box Hole zinc-lead and Edwards Creek copper-gold prospects within the Arunta Project in the Northern Territory.

The critical metals exploration and development company says the 2,400-metre program will test several high-priority targets including stratabound mineralisation.

These targets have been generated by Intrepid Geophysics, which has processed and overlaid significant historical geochemistry, electromagnetic and radiometric data sets.

Next phase begins

Managing director Sean Sivasamy said: “We are very pleased to have this next phase of drilling underway within our Arunta Project.

“Given the recent completion of RC drilling at our highly prospective Bruce REE Prospect, we have utilised the availability of the drill rig to carry out this next phase of work at Edwards Creek and Box Hole.”

The maiden drilling program at Box Hole and Edwards Creek is expected to take around three weeks to complete with first assays to be reported within 4-6 weeks thereafter.

Box Hole follow-up

Historical drilling at Box Hole returned a best intersection of 13 metres at 2.7% zinc and 0.7% lead from 17 metres including 5 metres at 2.3% zinc and 1.4% lead, and 5 metres at 4.3% zinc and 0.2% lead from 25 metres. The latter included 1-metre at 14.7% zinc and 0.3% lead from 25 metres.

The Box Hole zinc-lead, REE prospect comprises a single granted mineral exploration licence covering about 12,765 hectares and is about 340 kilometres northeast of Alice Springs.

At the prospect’s Kings Working deposit, 15 tonnes of galena was historically mined with an average grade of 66% lead, 58.50 g/t silver and 0.43% bismuth.

The known outcrop at Box Hole has a strike extent of 7 kilometres with mineralisation open in all directions.

This previous work and MetalsGrove’s reconnaissance have led to a conceptual exploration target of between 50 and 80 million tonnes at a grade ranging between 3.0% to 4.0% zinc-lead and at a shallow depth.

Edwards Creek program

Previous work at Edwards Creek, which covers around 380 square kilometres about 75 kilometres NNE of Alice Springs in the highly prospective Arunta region, has also provided encouragement for MetalsGrove heading into the RC campaign.

Historical drilling returned high-grade mineralisation including 4.5 metres at 2.25% copper, 0.11% lead, 1.54% zinc and 0.14 g/t gold from 47 metres and 18.6 metres at 0.22% copper, 0.17% lead, 0.49% zinc and 0.14 g/t gold from 44.3 metres.

Territory Exploration Pty Ltd acquired new EM data over Edwards Creek in 2017 and identified a strong EM conductor that was interpreted to be caused by sulphide mineralisation at depth.

Two RC holes were drilled to test the conductor intersecting relatively weak zones of copper mineralisation with a maximum value of 0.81% copper.

Systematic exploration

“Our Arunta Project is a highly prospective asset located in a prime exploration jurisdiction and we are committed to unlocking its value through continued systematic exploration over the coming months,” Sivasmy continued

“Box Hole and Edwards Creek are excellent prospects, with significant discovery potential as demonstrated by historical exploration data and recent reconnaissance work completed by MGA.”

Article courtesy of Proactive

13 Jun 2023

MetalsGrove Mining kicks off maiden drilling of Bruce rare earths bounty

MetalsGrove Mining Ltd (ASX:MGA) has set the drill bit spinning as part of a maiden 2,000-metre campaign to test rare earth targets over the Arunta Project’s Bruce prospect in the Northern Territory.

The Aussie explorer is taking the magnifying glass to Bruce’s highest priority carbonatite and rare earth element (REE) targets as it seeks to expand its understanding of the prospect’s critical minerals upside.

Following the three-week drilling campaign, first assays are expected within four to six weeks, meaning it won’t be long before the company has more news for the Australian sharemarket.

Soil sampling paves the way

MetalsGrove’s maiden program comes soon after it mapped carbonatite and high-grade REEs over more than 9 kilometres at Bruce, where recent soil sampling confirmed high concentrations of valuable magnetic and heavy rare earth elements (31% and 38%, respectively).

Led by encouraging soil results that revealed up to 1,800 parts per million total rare earth oxides (TREO), MGA has crafted an exploration compass to guide its targeted drilling program.

On top of the newly minted targets, a recent aeromagnetic and surface geochemistry program has defined a 1,000-metre by 600-metre intrusive system — considered highly prospective for REE bounty.

A closer look at Bruce

The Bruce rare earths prospect covers nearly 18,000 hectares in the NT’s Central Desert Region, an area renowned for cattle rearing and gold mining.

Among other priority targets in the region, MGA is particularly excited by a broad conductor along strike from the Plenty River mine, where significant rare earth finds were made in the 1950s.

The Northern Territory Geological Survey has completed geological studies in the Arunta region and identified numerous pegmatites hosting rare earth occurrences, including the Plenty River mica mine area.

As such, MetalsGrove is currently exploring pegmatite, breccia, vein and alteration-hosted rare earth mineralisation at Bruce, and the upcoming drill program will provide detailed insight on the prospectivity of these structures.

“The Arunta region is a world-class mineralised province and MGA has a clear strategy in place to systematically unlock the true underlying potential of its strategic footprint in the area,” managing director Sean Sivasamy said in early May.

“I look forward to providing the market with regular updates on our progress.”

Next up

Beyond the Bruce-centred drilling campaign, MetalsGrove plans to interpret more geophysical data to the Arunta Project’s east and west.

Depending on what it proves up, the explorer will chase results with more follow-up drilling and geochemical analysis.

Article courtesy of Proactive

08 Jun 2023

VIDEO: MetalsGrove could be drilling next week at Bruce prospect

MetalsGrove Mining Ltd (ASX:MGA) MD Sean Sivasamy speaks with Proactive soon after the company announced it has identified high-value magnetic and heavy rare earth elements (REE) at Bruce prospect within the Arunta Project in the Northern Territory. Outcropping carbonatite and high-grade REE mineralisation now extends over 9 kilometres of strike. MGA will now begin a maiden drilling program at Bruce – possibly as soon as next week.

07 Jun 2023

MetalsGrove Mining soars on confirming magnetic and heavy rare earth anomaly at Bruce prospect, Arunta Project

MetalsGrove Mining Ltd (ASX:MGA) has soared on identifying high-value magnetic and heavy rare earth elements (REE) at Bruce prospect within the Arunta Project in the Northern Territory, with outcropping carbonatite and high-grade REE mineralisation now extending over 9 kilometres of strike.

Surface sampling revealed a high percentage of valuable heavy rare earth oxides (HREO) and magnet rare earth oxides (MREO), with results including up to 1,800 parts per million (ppm) total rare earth oxides (TREO), consisting of 38% HREO, 31% MREO, 23% neodymium-praseodymium and 23% yttrium.

In addition to these high-value rare earths, the company also identified a large copper-gold and base metal anomaly.

Investors have responded positively to the results with shares as much as 70% higher in early ASX trading to $0.17.

Large footprint of potential high-grade REEs

“We are delighted with the outcomes from this soil sampling program which clearly highlight a large footprint of potentially high-grade mineralisation within our Bruce Prospect,” MetalsGrove Mining managing director Sean Sivasamy said.

“Our geological review has established multiple high-priority carbonatite and REE-bearing drill targets that will be a priority for testing during our maiden drill program this quarter.

“Our Arunta Project continues to shape as an exciting opportunity for MetalsGrove over the coming months and we look forward to providing regular updates on progress as exploration increases.”

Of particular interest to MGA are the high levels of neodymium and praseodymium found in soil sampling at Bruce, with values up to 408 ppm and 23% of TREO.

The company says these are comparable levels to those reported by other neodymium-praseodymium focused projects, including Lynas Rare Earth’s Mount Weld Project, Peak Rare Earths’ Ngualla Project and Arufura Resources’ Nolan’s Bore Project.

MGA will begin a maiden drilling program at Bruce within the current quarter, testing high-grade rare-earth anomaly targets, broad conductor targets and a large intrusive system within the Bruce Prospect area.

Bruce soil sampling location plan.

Article courtesy of Proactive

01 Jun 2023

MetalsGrove Mining wins NT Government grant for Bruce rare earths drilling

MetalsGrove Mining Ltd (ASX:MGA) has added just under A$70,000 to the company coffers to boost rare earths exploration thanks to a Northern Territory Government grant.

The cash injection will support work at the Arunta Project’s Bruce prospect, where an imminent 2,000-metre drilling campaign will test the property’s best-looking targets, including a broad conductor and a substantial intrusive system measuring 1,600 metres by 600 metres.

MetalsGrove managing director Sean Sivasamy said his team was “delighted” to receive the funding and thanked the NT Government for the exploration grant.

“The Arunta region is a world-class mineralised province and we have put in place a clear strategy to fast-track our exploration in the region and unlock value for MGA shareholders,” he stated.

“I look forward to providing the market with regular updates on our progress.”

Resourcing the Territory

MetalsGrove’s A$69,393.40 grant was administered by the Northern Territory Geological Survey (NTGS) as part of the Geophysics and Drilling Collaborations program.

Ultimately, this campaign is just one facet of the larger Resourcing the Territory initiative, which provides all-important capital to stimulate exploration and mineral discovery in the region.

The A$9.5 million funding pool represents the largest and longest-term investment ever made by a NT government to support resources exploration and development, including:

  • Near-term resource development through an increased focus on exploration of ‘brownfields’ sites;
  • identification and promotion of new areas of the Territory for resource exploration;
  • acceleration of geoscience programs to attract and de-risk mineral exploration; and
  • studies on the territory’s geological potential for critical commodities to support a low-emissions future.

Building on Bruce

Located just north of Alice Springs, MGA’s Bruce prospect is at the epicentre of its flagship Arunta camp.

The rare earths target covers roughly 17,722 hectares in the NT’s Central Desert region, where material rare earth discoveries have been staked in the Harts Range and Plenty River mica fields within the Irindina Province.

Interestingly, the NTGS has completed a geological study within the Arunta region and identified numerous pegmatites hosting rare earth occurrences, including the Plenty River mica mine area.

Nearly a year ago, MetalsGrove uncovered a broad conductor near the Plenty River mine, making its discovery next to magnetic features that are likely part of a pegmatite intrusion.

Moreover, previous work at the Arunta project has confirmed that rare earth anomalism is tied to copper, gold and base metal anomalism, putting more minerals on the radar.

This prospectivity ties into MGA’s broader mission: to farm up green metals and meet the growing demand from the battery storage and renewable energy markets in the transition to a de-carbonised world.

Article Courtesy of Proactive