Meteoric Resources Encounters Visible Gold from First Drillhole

THE DRILL SERGEANT: Meteoric Resources (ASX: MEI) opened the end of the week by announcing the maiden drill hole JUDD001 at the company’s 100 per cent-owned Juruena gold project intersected visible gold within a broad alteration halo at target depth.

Meteoric Resources said that DDH JUDD001 had been drill confirm previous grades encountered by historic holes:

1.8 metres at 20.9 grams per tonne gold;

8m at 62.4g/t gold; and

MD 10‐2016
4.8m at 11.9g/t gold.

The company declared the recent drilling represents an initial confirmation of the high‐grade zone at Dona Maria.

Two holes have been completed by Meteoric, which are currently being logged and sampled before being dispatched for assay with results expected in approximately four weeks.

The second hole, diamond hole JUDD002 was drilled to 104.54 metres returning similar observations to JUDD001 with the host rock being a coarse‐grained, k‐ feldspar altered (pink) granite.

Multiple zones of alteration were intersected; however, no free gold has been observed:

40.5m‐42.8m: strong to moderate sericite‐quartz‐pyrite alteration;
46.6m‐48.2m: moderate chlorite‐carbonate alteration;
67m‐87m: Coarse granite with chlorite veinlets and minor k‐feldspar alteration; and
still awaiting completion of summary log EOH 104.5m.

“It is fantastic to see visible gold in our very first hole and an early vindication of our decision to commit to drilling the project immediately after acquisition,” Meteoric Resources managing director Andrew Tunks said in the company’s announcement to the Australian Securities Exchange.

“The exploration team in Brazil were excited to report visible gold in our first hole and this provides management with additional confidence in our program and the prospectivity of our Brazilian assets.

“Importantly, after the recent capital raise, we do not have to compromise the planned Juruena program to commence drilling at Novo Astro which we now anticipate commencing in Mid‐September.

“We are hard at work on both projects and look forward to updating the market when we have received some assays and interpreted the results.”