Meteoric Resources Confirms Historic Mineralisation at Palm Springs

THE DRILL SERGEANT: In the lead-up the RIU Resurgence Conference next week, Meteoric Resources (ASX: MEI) reported encouraging news from drilling at the company’s Palm Springs gold project in Western Australia.

Meteoric Resources drilled the first two diamond drill holes of the 2020 drilling program at the Palm Springs project, which it said intersected broad zones of sulphide mineralisation.

The company said these first two holes had visually confirmed the location and geometry of the historical high‐ grade gold intercepts underneath and along strike from the Butchers Creek open pit in the Kimberley.

The company has taken increased confidence from the diamond drill holes intercepting broad zones of visual sulphide mineralisation that are consistent with the location of the historical high‐grade gold intercepts at Butchers Creek.

RC drilling will now commence in conjunction with the diamond drill rig, with both rigs drilling throughout September and into October.

“For the first time we are seeing these wide high‐grade mineralised gold zones in drill core and we are liking what we see,” Meteoric Resources managing director Dr Andrew Tunks said in the company’s announcement to the Australian Securities Exchange.

“It was important to get these first diamond drill holes into the deposit to confirm the presence and geometry of the mineralised trachyte, and I am very pleased to report that these holes have intercepted mineralisation consistent with our interpretation.

“We now have the confidence to turn the dial up on our drilling efforts and have both an RC and diamond rig in action simultaneously.

“Core logging and processing is progressing well and we expect to be reporting assay results from the first holes of the 2020 Palm Springs project in October.”