23 Feb 2023

Miningneil.malcolm@retailreturn.com.au

MetalsGrove Mining eyes strong pipeline of results from critical metals portfolio

MetalsGrove Mining Ltd (ASX:MGA) is advancing a suite of critical metals projects in Western Australia and the Northern Territory with a strong pipeline of results to be delivered over the next 6-8 months.

The following are the latest updates from MetalsGrove’s projects:

Upper Coondina Lithium Project – WA

Upper Coondina is a lithium, tin and tantalum project in the highly prospective Pilbara Mineral Field in Western Australia.

The project is near lithium and tantalum producers including Pilbara Minerals Ltd (ASX:PLS) (Pilgangoora Project), Mineral Resources Ltd (ASX:MIN) (Wodgina) and Global Lithium Resources Ltd (ASX:GL1).

Surface mapping and sampling at Upper Coondina have confirmed multiple outcropping pegmatite dykes from 3 to 30 metres wide occurring in swarms.

MetalsGrove’s maiden 4,200 metres reverse circulation (RC) drilling campaign was completed in December 2022 with the first assays due in Q1 2023.

Arunta Project – NT

MetalsGrove has identified advanced rare earth elements (REE), lithium, copper, gold and base metal targets at the Arunta Project in the Northern Territory.

The company is getting ready to start drilling at three priority target areas within Arunta:

Bruce Prospect: maiden 3,000-metre drill program to start in Q2 2023 to test the bedrock conductor and historical pegmatite mines;
Box Hole Prospect: maiden 2,500-metre drill program to start in Q2 2023 to test the known mineralisation and geophysical targets; and
Edwards Creek: maiden 600-metre drill program to start in Q2 2023 to test the known mineralisation down-dip extension and geophysical targets.

Woodie Woodie North Manganese Project – WA

The Woodie Woodie North Manganese Project covers an area of about 13,740 hectares and is adjacent to well-known manganese mines in the Pilbara.

Surface sampling has returned several highly anomalous assays up to 52% manganese with 12 drill-ready walk-up drilling targets defined.

MetalsGrove has planned a maiden 2,500-metre drilling program at Woodie Woodie North in Q3 2023 to test a broad conductor along a major structural corridor.

Article courtesy of Proactive

14 Nov 2022

Miningneil.malcolm@retailreturn.com.au

Turning battery metals into bigger money-makers: MetalsGrove Mining

A long career in the mining industry prepared Sean Sivasamy well as he looks to turn lithium and the like into the world’s most valuable minerals.

“About 10 to 15 years ago, nobody talked about lithium,” says Sean Sivasamy, the managing director of MetalsGrove Mining Ltd (ASX:MGA).

He’s not wrong: in 2014, the average lithium carbonate price, measured in US dollars per metric tonne (mt), was $6,690.

Fast forward to last year, and it was nearly triple that, at US$17,000/mt.

“I’ll tell you a nice story, about why I have become attracted to the new energy movement,” Sivasamy begins.

“In 2016, Global Advanced Metals owned the Wodgina Lithium Project. And for some reason, they wanted to sell all their assets in Australia.

“You won’t believe it, but they sold it for A$16 million. That same asset today is worth a couple of billions.”

Mineral Resources Ltd was the buyer, and in 2019 it completed a joint venture agreement with US-based battery metals giant Albemarle.

Albemarle is the world’s biggest lithium producer. Listed on the New York Stock Exchange, it is currently worth about $31 billion, and according to recent reports, is considering spinning out its lithium assets, which could be worth north of $10 billion.

MetalsGrove to the future

It’s no wonder Sivasamy is interested — not to mention confident — that MetalsGrove will evolve to be a key player in the battery metals sector.

“I was originally more focused on copper and gold,” he says. “But I could see through some of these deals that lithium and battery metals were the future.”

Sivasamy joined MetalsGrove as managing director in September last year and the company listed on the ASX in early July following an initial public offering that raised $6.4 million.

“We’re focused on the exploration and development of its portfolio of high-quality lithium, rare earth, copper-gold, manganese and base metal projects in Western Australia and the Northern Territory,” Sivasamy says.

“We’re committed to green metal exploration and development to meet the growing demand from the battery storage and renewable energy markets in the transition to a decarbonised world.”

From India to Victoria to Western Australia and the Northern Territory

Sivasamy holds a Masters in Geology from the University of Madras and moved to Australia in 2000, combining further university studies with work in the goldfields in Victoria’s southeast.

Successful stints with a number of small Victorian mining companies followed before Sivasamy moved to Western Australia in 2011 and began working with Aditya Birla Group, one of India’s largest companies with a market capitalisation in excess of $50 billion.

“I took on a role as a senior geologist with Aditya Birla and was then promoted to geology manager, looking after all of their exploration assets,” he says.

Birla once managed two operations in Australia: Nifty and Mt Gordan (now known as the Capricorn Copper mine). Nifty is now in the hands of Cyprium Metals whiile Capricorn Copper is operated by 29Metals Ltd.

“In 2011, Capricorn Copper only had about a year of mine life ahead of it. The project hosted around 22 million tonnes of resource, and the board was looking at offloading it, considering that it had not been a very attractive investment,” Sivasamy says.

“I proposed that if we invested in the project, we could add additional resources and make it more attractive to their investors.”

“We turned those 22 million tonnes into about 182 million tonnes within three to four years. 29Metals raised $1 billion earlier this year and the mine life was extended well beyond a decade.”

Following that stint, Sivasamy also worked at OreMin Global, Pilgangoora Minerals and most recently Tambourah Metals, but says it’s the potential of MetalsGrove’s WA and Northern Territory projects that excites him most.

“We are very pleased with the progress made during the September quarter, highlighted by the confirmation of significant lithium pegmatite potential at our flagship Upper Coondina Project in WA,” he says.

MetalsGrove in a nutshell

MetalsGrove has five main projects: three in the Northern Territory (Bruce, Box Hole and Edwards Creek) and two in Western Australia (Woodie Woodie North and Upper Coondina).

The Bruce Prospect is prospective for rare earth and copper-gold mineralisation and the company kicked off surface mapping and a geophysical survey last month.

That exercise, along with rock chip sampling, has highlighted multiple zones of mineralised pegmatites, strengthening the company’s hopes as it prepares to kick off a maiden drill campaign in late November 2022.

“We are delighted with the initial outcomes from this surface mapping, which further confirms the strong mineralised potential of this region,” Sivasamy says.

“This work will help refine priority drill targets for testing in our upcoming drill program, scheduled to get underway in 2022’s final quarter.

Bruce is found within the wider Arunta minefields, near Alice Springs, which Sivasamy says hosts a “suite of exciting critical metals prospects”.

“We’re systematically working through each prospect to prioritise the most compelling targets for initial drill testing,” he explains.

Across the way, MetalsGrove’s Box Hole is prospective for base metal and rare earth mineralisation while Edwards Creek encompasses the Edwards Creek copper-zinc-lead and Mueller Creek copper-gold prospects.

Investors also see the potential beneath the ground: back in September, MetalsGrove shares doubled in a day, reaching a new benchmark of around 20 cents following news the company had identified lithium pegmatite potential at Upper Coondina.

Detailed surface mapping highlighted multiple, outcropping pegmatite dykes on the property, occurring in swarms within a regional corridor extending 8 kilometres.

“Given this project has never been systematically explored for lithium, we continue to be highly encouraged by these early works,” Sivasamy says.

While it’s still early days for MetalsGrove, Sivasamy remains excited about what’s to come.

“Our team has completed a tremendous amount of pre-drilling exploration work since we listed in July, and we are now ready to commence the next phase of our exploration campaign,” he explains.

“We enter Q4 with significant momentum and a busy exploration pipeline planned for the remainder of the calendar year.”

Article Courtesy of Proactive

19 Sep 2022

Miningneil.malcolm@retailreturn.com.au

Metalsgrove Mining Ltd (MGA) – Company Deep Dive

MetalsGrove Mining Limited (ASX: MGA) is an Australian-based exploration and development company, focused on the exploration and development of its portfolio of high-quality lithium, rare earth, copper-gold, manganese and base metal projects in Western Australia and the Northern Territory. MGA is committed to green metal exploration and development to meet the growing demand from the battery storage and renewable energy markets in the transition to a decarbonised world.

Highlights

Portfolio of quality assets located in Western Australia and Northern Territory

Led by proven board, management and advisory team driven by ESG fundamentals

MetalsGrove has acquired 100% of the shares of Territory Lithium Pty Ltd

Working on green metals project linked to growing demand for battery and renewable energy

All projects have close proximity to ports and world-class mining infrastructure

Board and Management

Richard Beazley

NON-EXECUTIVE CHAIRMAN

Founder and Director of both Altair Mining Consultancy and Hydrogen Energy Pty Ltd and the Interim CEO and Managing Director for Troy Resources (ASX-TRY). Mr Beazley is an experienced mining engineer with 35 years of experience with a strong corporate, operational and technical background in the resources industry. Throughout his career he has worked on projects throughout Australia, Africa and South America.

Sean Sivasamy

MANAGING DIRECTOR AND CEO

Mr Sivasamy is a mining professional with more than 25 years of global experience. He has held Senior Management roles within large, medium and junior Mining companies in Australia, Africa, India and South East Asia. He is the Founder, Director and CEO of MetalsGrove Mining Limited.

Haidong Chi

NON-EXECUTIVE DIRECTOR

Mr Chi is one of the very early Co-founders of Kimberley Metals Group and KMG Mining Pty Ltd. Mr Chi has been the Managing Director of the company’s business operations, liaising with key relevant stakeholders, driving strategic company growth, and responsible for the overall performance of the business for more than 10 years.

Rebecca Broughton

CHIEF FINANCIAL OFFICER

Ms Rebecca Broughton is a Chartered Accountant with more than 20 years experience in both public practice and commerce, with significant focus in the resources sector.

Projects

Lithium and Tin

Upper Coondina

Location: located 85km south-west of Marble Bar in the East Pilbara district.
Size: Approximately 6,365 ha (E45/5952).
Interest: 100%.
CSR identified simple pegmatite veins as the sources of the tin.
Potential to establish economic long-term producing assets.
High quality lithium, tin and tantalum project in highly prospective regions in Western Australia (Pilbara lithium mineral field).
Well connected to mining infrastructure.

Rare Earth, Gold, Copper and Base Metals

Artuna Projects- Box Hole, Bruce and Edward Creek

Projects: Box Hole, Bruce, and Edward Creek Projects are located in Northern Territory.
Location: 110km north of Alice Springs.
Size: Approximately 320km 2 (EL32420, EL31225 and EL32419).
Interest: 100%.
Access: Via Stuart and Plenty Highways.
Drill ready walk-up drilling targets.
Well connected to existing mining infrastructure
Historical presence of Cu-Au, base metal and historical pegmatite workings have been demonstrated in the area

Managanese

Woodie Woodie North-Manganese

Location: Situated in the East Pilbara region of Western Australia approximately 400km south of Port Hedland and 95km east of Marble Bar.
Size: Approximately 14,400 ha (E45/5945).
Interest: 100%.
Access: All-weather Ripon Hills Road that ensures continued site access.
Manganese is a critical ingredient in steel production and Electric Vehicle (EV) engineering.
Drill ready walk-up drilling targets.
Surface sampling has returned a number of highly anomalous manganese and cobalt assays (up to 52% Mn and 540ppm Co).

Milestones

Historical Milestones

MGA has acquired 100% of Territory Lithium Ltd.

Agreement with Oremin Consultants Pty Ltd. to acquire WA Projects

Heritage Agreements executed with Nyamal Aboriginal Corporation NTBC (Woodie Woodie)

Duplicate agreement executed with Yamatji Marlpa Aboriginal Corporation (Upper Coondina)

Future Milestones

News & Media

Resources

Company Deep Dive Courtesy of Market Index

19 Sep 2022

Miningneil.malcolm@retailreturn.com.au

MetalsGrove logs 12 manganese drill targets as WA airborne survey wraps up

KEY POINTS

MetalsGrove now has 12 targets to aim the drills at once surface mapping is complete at the Woodie Woodie North manganese project
12 targets identified in airborne survey that commenced in August
Surface mapping underway ahead of drilling; drilling approvals being finalised

MetalsGrove (ASX:MGA) now has 12 targets to drill at its WA Woodie Woodie North manganese project, following the detection of a dozen magnetic anomalies on-site at the end of an airborne survey run.

Pre-drilling fieldwork is now underway by the company’s geotech team, bolstered by earlier surface soil sampling results of up to 52% manganese in-sample, firmly a high grade finding. Whether or not these grades are replicated underground remains to be seen.

The company is currently progressing with drilling approvals and expects its maiden drilling campaign at Woodie Woodie to commence later this year.

Significant understanding

“This detailed survey has significantly improved our technical understanding of the project and highlighted multiple compelling drill targets,” MetalsGrove MD Sean Sivasamy said.

“We are moving quickly to finalise all necessary approvals ahead of our maiden drilling campaign…we are also advancing exploration across Upper Coondina and Arunta, in what is shaping up as a very busy finish to the calendar year.”

Data amalgamation

MetalsGrove launched the airborne survey on which it reports today at the start of August last month, which it launched following a review of pre-existing historical magnetic data.

In short, the company only had to fill in the gaps, organising an airborne survey that would not re-cover areas already flown. This freshest airborne survey flew 1,596 line kilometres.

In just over a month and a half, the company has effectively boosted its geotechnical database in a relatively low-cost fashion opposed to the size of the airborne campaign that would otherwise be required, had no historical data been available.

Why manganese?

The same reasons driving enthusiasm for copper, nickel, and silver, are also playing out in manganese exploration markets.

In short, the metal is another basic material modern EV battery manufacturers require to make electric cars with performance specs good enough to persuade buyers away from internal combustion vehicles.

Manganese is also a valuable alloy for steelmakers. While pricing for the metal is somewhat opaque, Chinese metal market information provider SMM noted last month prices at many benchmarks sit above US$2,000 a tonne.

This reflects a tenfold increase for prices since 2014, when a commodities glut caused many operations to be mothballed.

Last year, Livewire Markets went so far as to describe manganese as the ‘next hot battery metal.’

BloombergNEF further expects demand for manganese in lithium-ion batteries to reflect a ninefold increase between 2021 and 2030.

Article Courtesy of Market Index

Metalsgrove CEO Sean Sivasamy sees battery metal demand here to stay

01 Sep 2022

Miningneil.malcolm@retailreturn.com.au

MetalsGrove CEO Sean Sivasamy sees battery metal demand here to stay

KEY POINTS

Sean expects lithium demand to increase over the coming decades
Manganese will be playing a major role in the coming global energy transition

TRANSCRIPT

0:12 – How long have you been a CEO?

0:21 – What did you do before this?

0:29 – Can you describe MetalsGrove’s overall mission?

0:47 – What makes MetalsGrove stand out from its competitors?

0:57 – Why has Metalsgrove chosen to focus on critical metals?

1:09 – Can you explain Metalsgrove’s two flagship projects?

1:51 – Tell us about your Woodie Woodie North Manganese Project in WA?

2:10 – What are the advantages of having your key assets in WA and the NT?

2:37 – What do you see as the main drivers of lithium demand in the short to medium term?

3:01 – Do you expect market interest in manganese to strengthen?

3:28 – Do you think current macro trends have stalled battery uptake?

3:50 – What are the near-term exploration plans for MetalsGrove?

4:24 – How does location aid your projects’ development?

4:51 – What should investors be looking out for as your exploration activity ramps up?

5:04 – How quickly could MetalsGrove advance towards production?

22 Aug 2022

Miningneil.malcolm@retailreturn.com.au

Airborne surveys underway at MetalsGrove’s NT Arunta project; maiden drilling in Q4

KEY POINTS

Airborne magnetic, radiometric survey to kick off at company’s only NT asset
6,000 line program to provide data on the Bruce, Box Hole and Edwards Creek prospects
Bruce Prospect of foremost interest; prospective for lithium, rare earths, and gold

Not long after MetalsGrove (ASX:MGA) identified a massive electromagnetic target underground at its Arunta Project, the company is now chartering helicopters to run a 6,000m airborne magnetic survey overheard.

The main target is the Bruce Prospect, which is up first on the company’s radar for drilling upon the conclusion of the surveys commenced today.

The Bruce Prospect is believed to contain commercial quantities of lithium, rare earths, and gold. It is located in the Central Desert Region and covers over 17,000 hectares. The nearest historical mine is the Harts Range garnet mine some 80km southwest.

Q4 Maiden drilling on the horizon

The company notes aggressive drilling at a target identified last month underneath the Bruce prospect area of interest will commence upon conclusion of the airborne survey.

That magnetic target is believed to be related to lithium pegmatites.

The breakdown of coverage over each of the targets makes clear where MetalsGrove’s priority lies.

Three targets at the Arunta Project will be subject to this round of airborne surveys:

Bruce Prospect (3,954 line-kilometres)
Box Hole Prospect (1,147 line-kilometres)
Edwards Creek Prospect (872 line-kilometres)

Drilling will take place in the fourth quarter of 2022.

“Targeted yet aggressive:” Management

“This survey programme will play an important role towards refining our priority drill targets for our maiden drilling programme,” MetalsGrove MD Sean Sivasamy said.

“Our team has already completed significant work highlighting strong potential at Bruce.”

MetalsGrove is having a busy month so far, with the company flying an airborne survey over its WA Woodie Woodie acreage at the start of August. That project is prospective for manganese, another battery metal alongside lithium.

Isn’t MetalsGrove a lithium explorer?

Yes, it is. But the same reasons driving enthusiasm for copper, nickel, and silver, are also playing out in manganese exploration markets.

Last year, Livewire Markets went so far as to describe manganese as the ‘next hot battery metal.’

Manganese is also a valuable alloy for steelmakers. While pricing for the metal is somewhat opaque, Chinese metal market information provider SMM notes prices at many benchmarks sit above US$2,000 a tonne.

This reflects a tenfold increase for prices since 2014, when a commodities glut caused many operations to be mothballed.

And lithium prices, of course, remain some 350% higher than this time last year.

^{Existing survey data interpreted into a visual image from existing magnetic information at Arunta. The red like that extends beneath the historical Plenty River mine is what MGA has its eye on; the target is believed to be lithium pegmatite.}

Article Courtesy of Market Index

01 Aug 2022

Miningneil.malcolm@retailreturn.com.au

MetalsGrove flying over huge target at WA manganese project, global demand ramping up

METALSGROVE FLYING OVER HUGE TARGET AT WA MANGANESE PROJECT

Key Points

A review of historic airborne surveys over MetalsGrove’s Woodie Woodie North Manganese project has unveiled a large underground anomaly.
The anomaly is in the northern portion of the project acreage under permit E45/5945 where surface assays showed 52% manganese.
A MetalsGrove-run follow-up airborne survey already in progress to better confirm presence of key battery metal.

MetalsGrove Mining (ASX:MGA) is kicking off August with a self-funded airborne survey over its Woodie Woodie north target in WA, prospective for battery metal manganese.

A recent review of existing like-for-like historic datasets has confirmed a large magnetic anomaly underground on-site. The Woodie Woodie North project is named after the Consolidated Minerals owned manganese mine of the same name to the southeast.

Once the current survey (designed to fly a total 1,596 line kilometres) is wrapped up, MetalsGrove will get hands and feet on the ground to fulfil surface mapping and further soil (read: geochemical) testing.

Before MetalsGrove listed on the ASX in June, it was already boasting surface assay datas from the project returning samples of 52% manganese.

Isn’t MetalsGrove a lithium explorer?

Yes, it is. But the same reasons driving enthusiasm for copper, nickel, and silver, are also playing out in manganese exploration markets.

This reflects a tenfold increase for prices since 2014, when a commodities glut caused many operations to be mothballed.

Last year, Livewire Markets went so far as to describe manganese as the ‘next hot battery metal.’

BloombergNEF further expects demand for manganese in lithium-ion batteries to reflect a ninefold increase between 2021 and 2030.

Investors should further keep in mind the lithium-ion battery is only one potential product. There are also nickel-manganese-cobalt (‘NMC’) batteries used most recently in electric bikes and scooters.

Should the EU move ahead with its plan to classify lithium as a toxin by as early as 2023, it is possible the manganese market could see an upward kick, but that remains to be seen.

All things in order, the Woodie Woodie North project could become the next heavyweight operation in the Pilbara manganese belt, illustrated here

Article Courtesy of Market Index

01 Aug 2022

Miningneil.malcolm@retailreturn.com.au

LARGE CONDUCTOR IDENTIFIED AND AIRBORNE MAG SURVEY UNDERWAY AT WOODIE WOODIE NORTH

AIRBORNE MAG SURVERY UNDERWAY AT WOODIE WOODIE NORTH AUSTRALIA

Highlights

MGA has identified a broad conductor at the Woodie Woodie North Manganese Project in WA
1596-line kilometre helicopter borne magnetic and radiometric survey is underway at Woodie Woodie North (E45/5945) to provide detailed lithological and structural mapping
New target generation and data processing to be undertaken simultaneously as survey progresses
Nearby mines include the Woodie Woodie (Consolidated Minerals Limited) manganese mine (approximately 50 km to the southeast)

Critical metals exploration and development company MetalsGrove Mining Limited (ASX: MGA), (“MetalsGrove” “MGA” or the “Company”), is pleased to announce that a recently completed technical review of historical airborne electromagnetics survey data has highlighted a large conductor zone within the Woodie Woodie North Manganese Project in Western Australia.

The Woodie Woodie North Project is located approximately 100 km east of Marble Bar in the eastern Pilbara region and covers an area of approximately 13,740 ha.

A 1,596-line kilometre of airborne magnetic and radiometric survey set at 50 m spacings is underway on a E-W traverse lines.

Additional exploration activities to be completed at the Woodie Woodie North Project area this quarter include surface mapping and soil geochemistry.

MetalsGrove’s Managing Director, Sean Sivasamy commented: “We are delighted with the outcomes of our technical review which has further reinforced the underlying prospectivity of the Woodie Woodie North Manganese Project and provided our team with a significant target area for our upcoming exploration campaign.

The identification of a broad conductor along the major structural corridor is significant and this area remains largely untested by modern exploration methods.

The Woodie Woodie North Project is a highly mineralised region which has clearly demonstrated the potential to host significant manganese mineralisation. MetalsGrove has assembled a world-class portfolio of critical metals assets in prime exploration jurisdictions and our initial technical reviews have provided our team with great momentum as we scale up our exploration efforts.”

Figure 1: Historic TEMPEST AEM Survey Transect – Late Channel Stacked Profilesat Woodie Woodie North

Figure 3: Proposed airborne magnetic and radiometric survey at Woodie Woodie North

Woodie Woodie North Manganese Project

The Woodie Woodie North manganese project which comprises a single granted Exploration Licence (E 45/5945), located approximately 100 km east of Marble Bar in the eastern Pilbara region. The tenement covers an area of approximately 13,740 ha.

Nearby mines include the Woodie Woodie (Consolidated Minerals Limited) manganese mine (approximately 50 km to the southeast) and its well-connected world-class infrastructure.

Figure 4: Woodie Woodie North Project Location Plan

About MetalsGrove

MetalsGrove Mining Limited (ASX: MGA) is an Australian-based exploration and development company, focused on the exploration and development of its portfolio of high-quality lithium, rare earth, copper-gold, manganese and base metal projects in Western Australia and the Northern Territory.

MGA is committed to green metal exploration and development to meet the growing demand from the battery storage and renewable energy markets in the transition to a de-carbonised world.

Competent Person Statement – Exploration Strategy

The information in this announcement that relates to exploration strategy and results is based on information provided to and compiled by Sean Sivasamy who is a Member of The Australian Institute of Mining and Metallurgy. Mr Sivasamy is Managing Director and CEO of MetalsGrove Mining Limited.

Mr Sivasamy has sufficient experience which is relevant to the style of mineralisation and exploration processes as reported herein to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’.

The information in this announcement that relates to Geophysical interpretations was provided by Mr Russell Mortimer of Southern Geoscience Consultants who is an active member of the Australian Institute of Geoscientists.

Mr Mortimer has sufficient experience which is relevant to the style of mineralisation and exploration processes reported herein to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’.

Mr Sivasamy and Mr Mortimer both consent to the inclusion in this announcement of the information contained herein, in the form and context in which it appears.

Forward looking statements

This announcement may contain certain “forward looking statements” which may not have been based solely on historical facts, but rather may be based on the Company’s current expectations about future events and results. Where the Company expresses or implies an expectation or belief as to future events or results, such expectation or belief is expressed in good faith and believed to have a reasonable basis.

However, forward looking statements are subject to risks, uncertainties, assumptions, and other factors which could cause actual results to differ materially from future results expressed, projected or implied by such forward looking statements. Such risks include, but are not limited to exploration risk, mineral resource risk, metal price volatility, currency fluctuations, increased production costs and variances in ore grade or recovery rates from those assumed in mining plans, as well as political and operational risks in the countries and states in which we sell our product to, and government regulation and judicial outcomes.

For more detailed discussion of such risks and other factors, see the Company’s Prospectus, as well as the Company’s other filings. Readers should not place undue reliance on forward looking information. The Company does not undertake any obligation to release publicly any revisions to any “forward looking statement” to reflect events or circumstances after the date of this announcement, or to reflect the occurrence of unanticipated events, except as may be required under applicable securities laws.

JORC Code, 2012 Edition – Table 1

Section 1 Sampling Techniques and Data

(Criteria in this section apply to all succeeding sections.)

Criteria	JORC Code Explanation	Commentary
Sampling techniques	Nature and quality of sampling (eg cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc). These examples should not be taken as limiting the broad meaning of sampling.	This release contains no sampling results.
	Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used.	This release contains no sampling results.
	Aspects of the determination of mineralisation that are Material to the Public Report.	This release contains no sampling results.
	In cases where ‘industry standard’ work has been done this would be relatively simple (eg ‘reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay’). In other cases more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (eg submarine nodules) may warrant disclosure of detailed information.	This release contains no sampling results.
Drilling techniques	Drill type (eg core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (eg core diameter, triple or standard tube, depth of diamond tails, face-sampling bit or other type, whether core is oriented and if so, by what method, etc).	No drilling results included in release.
Drill sample recovery	Method of recording and assessing core and chip sample recoveries and results assessed.	No drilling results included in release.
	Measures taken to maximise sample recovery and ensure representative nature of the samples.	No drilling results included in release.
	Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material.	No drilling results included in release.
Logging	Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies.	This release contains no sampling results.
	Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography.	This release contains no sampling results.
	The total length and percentage of the relevant intersections logged.	This release contains no sampling results.
Sub-sampling techniques and sample preparation	If core, whether cut or sawn and whether quarter, half or all core taken.	This release contains no sampling results.
	If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry.	This release contains no sampling results.
	For all sample types, the nature, quality and appropriateness of the sample preparation technique.	This release contains no sampling results.
	Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples.	This release contains no sampling results.
	Measures taken to ensure that the sampling is representative of the in-situ material collected, including for instance results for field duplicate/second-half sampling.	This release contains no sampling results.
	Whether sample sizes are appropriate to the grain size of the material being sampled.	This release contains no sampling results.
Quality of assay data and laboratory tests	The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total.	This release contains no sampling results.
	For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc.	Data in this release was captured with TEMPEST fixed wing AEM system configuration – Government survey AusAEM (WA-NT) 2019/2020 – Job 802397 – completed by CGG, 20km line spacing EW direction – ~120m mean terrain clearance.
	Nature of quality control procedures adopted (eg standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (ie lack of bias) and precision have been established.	This release contains no sampling results.
Verification of sampling and assaying	The verification of significant intersections by either independent or alternative company personnel.	This release contains no sampling results.
	The use of twinned holes.	This release contains no sampling results.
	Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols.	Data captured into automated digital systems prior to processing.
	Discuss any adjustment to assay data.
Location of data points	Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation.	Data is spatially located to sub-metre accuracy with a differential GPS (DGPS) during capture.
	Specification of the grid system used.	The grid projection used for Woodie Woodie North is MGA_GDA94, Zone 51. All maps included in this report are referenced to this grid.
	Quality and adequacy of topographic control.	Topographic control captured by DGPS system during capture.
Data spacing and distribution	Data spacing for reporting of Exploration Results.	The regional AEM survey was flown along 20 km spaced lines, with lines oriented roughly perpendicular to the stratigraphy.
	Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied.
	Whether sample compositing has been applied.
Orientation of data in relation to geological structure	Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type.	This release contains no sampling results.
	If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material.
Sample security	The measures taken to ensure sample security.	This release contains no sampling results.
Audits or reviews	The results of any audits or reviews of sampling techniques and data.	This release contains no sampling results.
Mineral tenement and land tenure status	Type, reference name/number, location and ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings.	Exploration License E45/5945 granted 10/03/2022 (5 years term). There are no known existing impediments to the tenements.
	The security of the tenure held at the time of reporting along with any known impediments to obtaining a licence to operate in the area.	Readers are referred to the Solicitor’s Report in the Prospectus for further information of the legal status associated with the tenure of the Project.
Exploration done by other parties	Acknowledgment and appraisal of exploration by other parties.	All historical work referenced in this report has been undertaken by previous project explorers. Whilst it could be expected that work and reporting practices were of an adequate standard, this cannot be confirmed.
Geology	Deposit type, geological setting and style of mineralisation.	The Woodie Woodie North project lies a few km to the west of the Ripon Hills camp of Mn deposits (Consolidated Minerals (Australia). The project area straddles the boundary between the lower Hamersley Group Carawine Dolomite and rocks of the Fortescue Group (Mount Bruce Supergroup). The Carawine Dolomite forms part of Hamersley Basin (Carawine Sub-basin). The Carawine Dolomite is overlain by the Pinjian Chert Breccia. The western part of the project area contains rocks of the Maddina Formation (Fortescue Group/Basin) comprising massive, amygdaloidal, or vesicular basalt and basaltic andesite; local komatiitic basalt, dacite, and rhyolite. These rocks are intruded by doleritic rocks assigned to the Fortescue Group (Williams, 2007). Pods of remnant Paterson Formation of the Carboniferous–Permian glacigene Canning Basin are also present in the project area.
Drill hole Information	A summary of all information material to the understanding of the exploration results including a tabulation of the following information for all Material drill holes: – easting and northing of the drill hole collar – elevation or RL (Reduced Level – elevation above sea level in metres) of the drill hole collar – dip and azimuth of the hole – down hole length and interception depth – hole length.	No drilling results included in release.
	If the exclusion of this information is justified on the basis that the information is not Material and this exclusion does not detract from the understanding of the report, the Competent Person should clearly explain why this is the case.	No drilling results included in release.
Data aggregation methods	In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (eg cutting of high grades) and cut-off grades are usually Material and should be stated.	No sampling results are included in release.
	Where aggregate intercepts incorporate short lengths of high-grade results and longer lengths of low-grade results, the procedure used for such aggregation should be stated and some typical examples of such aggregations should be shown in detail.	No sampling results are included in release.
	The assumptions used for any reporting of metal equivalent values should be clearly stated.
Relationship between mineralisation widths and intercept lengths	These relationships are particularly important in the reporting of Exploration Results.	No sampling results are included in release.
	If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported.
	If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (eg ‘down hole length, true width not known’).
Diagrams	Appropriate maps and sections (with scales) and tabulations of intercepts should be included for any significant discovery being reported These should include, but not be limited to a plan view of drill hole collar locations and appropriate sectional views.	Appropriate maps are included in the main body of the Report.
Balanced reporting	Where comprehensive reporting of all Exploration Results is not practicable, representative reporting of both low and high grades and/or widths should be practiced to avoid misleading reporting of Exploration Results.	Imagery for all graphical AEM results within MetalsGrove tenure has been shown in the included map.
Other substantive exploration data	Other exploration data, if meaningful and material, should be reported including (but not limited to): geological observations; geophysical survey results; geochemical survey results; bulk samples – size and method of treatment; metallurgical test results; bulk density, groundwater, geotechnical and rock characteristics; potential deleterious or contaminating substances.	All data presented herein are historical and MetalsGrove is yet to complete full validation of the nature and quality of the previous work undertaken within its tenements. All material data encountered by MetalsGrove to date has been reported herein.
Further work	The nature and scale of planned further work (eg tests for lateral extensions or depth extensions or large-scale step-out drilling).	Additional sampling and surface mapping is planned for later 2022. Drilling will be planned subject to results.
	Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive.	The images included show the location of the current areas of interest.

13 Jun 2022

Miningneil.malcolm@retailreturn.com.au

Creating A Positive Difference Through Metals & Mining

As the world shifts its focus on utilizing eco-friendly materials and sources of energy, MetalsGrove focuses on green metal exploration and development to meet the growing demand from the battery storage and renewable energy markets in the transition to a decarbonized world. There is an ever-increasing demand for environmentally and commercially sustainable development and a supply of materials that feed into these industries that subsequently flow onto all facets of our society both at a domestic and industry level.

MetalsGrove has a strong portfolio in lithium, tin, tantalum, manganese, copper, gold, zinc, lead, gold-copper, green metals, and base metal exploration projects that have the potential to augment the global demand for metals required to achieve a low emission future. The projects are all based in the Tier One jurisdiction of Australia and located in Western Australia and the Northern Territory.

Led by a proven board, management and advisory team driven by ESG principles, the launch of MetalsGrove coincides with an exciting shift in the demand profile for lithium, manganese, rare earth elements (REE) and copper.

These products aim to be sustainable as we operate with transparency and accountability and reduce the environmental impact caused by daily social, economic, environmental, and cultural activities in Australia and worldwide.

10 Jun 2022

Miningneil.malcolm@retailreturn.com.au

New IPO MetalsGrove looking to fuel the energy transition with lithium, rare earths and base metals assets

NEW IPO METALSGROVE LOOKING TO FUEL THE ENERGY TRANSITION WITH LITHIUM

The energy transition has emerged as the dominant theme for investors in the mining industry, with metals used in electric vehicles, battery storage and renewable energy staring at years – if not decades – of rising demand from global decarbonisation.

That generational shift in the purpose and demand profile for commodities previously sold into niche markets has created an ocean of opportunity for emerging junior explorers.

It is a real case of all hands to the pump, with customers desperate to secure new sources of lithium, rare earths and base metals to satisfy the growth of the new energy industry.

A perfect time, then, for the arrival of a new IPO with exposure across the breadth of the battery metals spectrum.

MetalsGrove Mining (ASX: MGA) is seeking $5 million and up to $7 million in an ASX float this month.

Led by managing director and CEO Sean Sivasamy, an experienced geologist who has been a director of Tambourah Metals and Pilgangoora Minerals, MetalsGrove will bring an Australian explorer with interests in lithium, tin, rare earths, manganese and base metals to the public market.

Tier 1 lithium the target

MetalsGrove has a unique collection of projects covering a host of different metals expected to benefit from the energy transition.

Importantly, a lithium project is front and centre.

The commodity is currently trading at near record prices in excess of US$70,000/t for downstream chemicals and US$6000/t for spodumene concentrate, the material shipped to China at massive profit margins right now by WA miners.

MetalsGrove’s flagship asset is the Upper Coondina lithium, tin and tantalum project.

The 6,365 hectare exploration licence is located 85 km west of Marble Bar, within a short drive of the $10 billion capped Pilbara Minerals’ massive Pilgangoora lithium mine and Mineral Resources and Albemarle’s Wodgina pegmatite in the Tier-1 Pilbara lithium province.

Significantly, like many of the world’s largest lithium bearing pegmatites such as the world class Greenbushes mine in WA’s south-west, Upper Coondina has already been a historic tin producer.

Its Shaw tin field has previously produced 6500t of tin concentrate, while surface sampling has returned anomalous assays for lithium of up to 256 ppm.

A fine trio

Of similar standing is a triumvirate of rare earths, gold-copper and base metals projects at Bruce, Box Hole and Edwards Creek in the Arunta mineral field of central Australia.

At Bruce, geological mapping has confirmed the potential for pegmatite-hosted neodymium and praseodymium mineralisation, the key components in the high-performance NdFeB magnets used in EVs and wind turbines and one of the most important rare earth markets.

Rare earth anomalism associated with copper-gold and base metal mineralisation has been recently shown at the nearby Arunta project held by Norwest Minerals and WA1 Resources.

Those other elements are definitely targets at Bruce as well, with rock chip sampling by the Northern Territory Geological Survey assaying 53 g/t gold and 1.7% copper.

Recent sampling located on the near surface quartz vein assayed values up to 15.26 g/t and 7.24 g/t gold, with mineralisation 1-2 m wide and extending over 600 m for a total strike length of 2.1 km.

Covering 127 km², 250 km north-east of Alice Springs, Box Hole is also considered prospective for rare earths and carbonate hosted lead-zinc mineralisation, with a string of historic drill results and historic zinc and lead workings at King’s where 15t was once mined at a grade of 66% zinc.

Results in shallow RAB drilling by Intercept Minerals from 2007-2013 recorded hits like 13 m at 2.7% zinc and 0.7% lead with at least one single metre intercept grading 14.7% zinc.

Meanwhile, historic drilling at Edwards Creek from the 1980s returned significant copper grades 4.5 m @ 2.25% Cu, 0.11% Pb, 1.54% Zn, 0.14 g/t Au from 47 m and 18.6 m @ 0.22% Cu, 0.17% Pb, 0.49% Zn, 0.14 g/t Au from 44.3 m, with several new copper occurrences uncovered in recent exploration.

And manganese to boot

The final project in the MetalsGrove portfolio is the Woodie Woodie North project, located near one of Australia’s largest and highest-grade manganese mines.

Woodie Woodie North is an exploration tenement surrounding ConsMin’s Woodie Woodie mine in the Pilbara with areas of manganese outcrop and historical workings.

A heap of surface geochemistry has been undertaken on the project area, with surface sampling returning numerous anomalous manganese and cobalt assays up to 52% manganese and 540 ppm cobalt.

Exploration at Woodie Woodie North comes as prices for high grade manganese like that produced at the neighbouring Woodie Woodie mine are on the up.

Manganese is a key component in steel production and electric vehicles, representing the M in the NCM lithium-ion battery used in top range Tesla cars.

MetalsGrove is currently slated to list on July 6 at 11am (WST) (edit) following its 20c a share, $7 million IPO.

The raising will give the company cash in hand to ramp up exploration efforts across its suite of battery metals projects and an expected EV of $4 million on listing.

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Article courtesy of Stockhead

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