Why MRQ's acuisition is so compelling., page-32

The Drilling History of the Corridor Sands Area
The area was drilled by Western Mining Company as part of a tenement package touted as the world’s largest ilmenite resource.

WMC’s ~1,100 air-core drill holes defined a total inferred resource of over 15 billion tonnes.

Exploration ceased after BHP reassessed WMC’s mineral sands business during a downturn in resource price. BHP also already owned a high tonnage mineral sands project in South Africa.

Part of the original WMC tenement package is now a $471m Chinese JV currently producing heavy mineral sands with a 2.7BNt @ 6.9% resource.

MRQ’s tenement sits between the Chinese JV and Rio Tinto’s Chilubane heavy mineral sands deposit.

Rio Tinto ceased exploration in the area but gave up when they struck a 30 year >5% total heavy mineral project 180kms away in Northern Mozambique. Now mined with Savannah Resources.

MRQ directors have ties to ex-Rio Tinto executives who picked up the projects during Rio’s time in Mozambique.

The potential on this project looks massive. The Chinese JV is only a portion of the total potential that is in the region. WMC only stopped drilling outside was is now the Chinese JV area because it was no longer economically to drill out past a 30 year mine life resource.

Found this through personal research. As always DYOR.