Meteoric Resources Defines Cobalt Targets

THE DRILL SERGEANT: Meteoric Resources (ASX: MEI) completed a closely spaced, ground based geophysics program of induced polarisation (IP), resistivity and magnetics at the company’s 100 per cent-owned Mulligan cobalt project in Canada.

Meteoric Resources had the ground based gradient IP / resistivity and magnetic survey conducted to investigate the location and extent of cobalt rich polymetallic veins that were previous mined at Mulligan.

These surveys outlined numerous target regions where very little historic work has been reported and where no modern exploration techniques had previously been applied.

“The initial ground‐based geophysics results achieved at Mulligan have certainly exceeded our expectations,” Meteoric Resources managing director Dr Andrew Tunks said in the company’s announcement to the Australian Securities Exchange.

“The survey has defined numerous highly prospective targets for our first drilling program focussing on the cobalt rich polymetallic veining.

“We are continuing to quickly work through the target generation phase of exploration at all of our prospective cobalt assets in Ontario and we are very much looking forward to getting drill rigs on‐site to test these outstanding targets.

“Drilling is on track to commence at Mulligan in July 2018.”