MRQ 0.00% 0.5¢ mrg metals limited

MRQ potential 20-40 bagger

  1. 5,101 Posts.
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    The most compelling section of todays quarterly is the statement  related to the new, upcoming MRE.

    " Mineral Resource Estimate (MRE)

    During the current quarter an update to the existing (2004) mineral resource estimate (MRE) for the Norra deposit will be initiated with results expected in late February. Metal prices, in particular zinc, have increased significantly since the last MRE and high-level optimisation was completed in 2004 by previous explorers, who used a MRE for Norra of 1.497Mt @ 4.4% Zn, 0.8% Cu, 0.4% Pb, 0.8 g/t Au, 59.9 g/t Ag.

    During the quarter MRG also completed a new structural interpretation across the project including the mineralisation at Norra. The new structural interpretation will be incorporated into the new MRE. Once the MRE has been completed a decision will be made as to whether a high-level mining study will be warranted. The Norrliden deposit is located within a granted mining concession which would likely shorten the pathway to future production at Norrliden if positive MRE and optimisation results are received in due course and similarly if the Company can build on the existing resource base through expansion of the current Norra resource and/or through an economic discovery at Södra or elsewhere within the project area in the short to medium term."

    This points to the real possibility of a mine pulling in substantial earnings in a relatively short time frame.
    The structural interpretation will we assume be considering other potential Norras within the the tenement,
    all the while considering that Sodra should be considered an extension of Norra 200 meters distance.

    What with the other news on JV due diligence with AU on a number of MRQ tenements, plus identification
    of a new project the 20 -40 bags is a definite possibility.

    JMO

    Cheers
 
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