Meteoric Resources Extends High-Grade Caldeira REE Mineralisation

THE DRILL SERGEANT: Meteoric Resources (ASX: MEI) reported diamond drilling results from the company’s Caldeira rare earth elements (REE) project in Brazil.

Meteoric Resources said recent diamond drilling at the project and demonstrated clay zone and high-grade REE mineralisation extends much deeper than previously encountered.

Mineralised trends identified include to 36 metres at the Capão do Mel prospect and 56 metres at the Figueir prospect.

Meteoric recently published a maiden Mineral Resource Estimate (MRE) for the Caldeira project of 409 million tonnes at 2,626 total rare earth oxide (TREO) at a 1,000ppm cut off.

The company believes the new diamond drilling, which extended the Figueira and Capão do Mel mineralisation, has positive implications for any future resource estimate should the trend continue.

“The new assays clearly show there is significant extensions at depth at all prospects and indeed this is particularly clear at Capão do Mel, where the diamond drilling has extended the mineralisation to a depth of thirty-six (36) metres and at Figueira where we see REE mineralised zones down to sixty-seven (67) metres,” Meteoric Resources executive chairman Dr Andrew Tunks said in the company’s ASX announcement.

“In fact, the diamond drilling at all six resource areas has extended the maximum depths of mineralisation significantly.

“The Caldeira project is clearly significantly higher grade than any other IONIC clay REE yet documented.

“The coming months will see an exciting time for the company with considerable activity following on from these diamond results.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE