THE DRILL SERGEANT: Meteoric Resources (ASX: MEI) received the latest assays from drill holes JUDD009 and JUDD010 that were completed during the maiden drill program at the company’s 100 per cent-owned Juruena gold project in Brazil.
Meteoric Resources claimed the new drill results highlight both a deep high‐grade epithermal gold intercept together with an entirely separate style of porphyry hosted gold‐copper mineralisation, which the company has interpreted to be part of a larger gold‐rich copper porphyry system.
1.2 metres at 45.83 grams per tonne gold from 248.9m.
This intersection was achieved at the base of the high‐grade epithermal Dona Maria resource that currently stands at 88,000 ounces gold at 12.7g/t gold.
Meteoric believes JUDD009 confirms high‐grade gold mineralisation at Dona Maria is open at depth and now has deeper drilling planned to extend epithermal gold mineralisation below the high‐grade resource.
Hole JUDD010 intersected a thick zone of gold‐copper mineralisation at the Crentes prospect, immediately adjacent to Dona Maria, returning:
54.3m at 1.33g/t gold and 0.23 per cent copper from 171m, including 12m at 4.54g/t gold and 0.25 per cent copper from 178.5m.
Meteoric declared that the gold‐copper mineralisation encountered at Crentes in JUDD010 raises the potential for additional gold‐rich porphyry discoveries across the entire Juruena project.
A further hole, JUDD011 also intersected the up‐dip extension of the gold-copper porphyry mineralisation intersected in JUDD010 at Crentes with assays pending at time of writing.
The company has mobilised a second drill rig to Novo Astro, with first assay results due in late November.
“I couldn’t be happier to report that JUDD009 has confirmed high‐grade gold mineralisation at Dona Maria is open at depth, as our structural models suggested,” Meteoric Resources managing director Andrew Tunks said in the company’s announcement to the Australian Securities Exchange.
“This hole intersected high‐grade gold at the base of the current resource, deeper than any historic drilling and has allowed us to plan follow‐up deep drilling that if successful could significantly increasing this resource.
“The gold‐copper mineralisation in JUDD010 and JUDD011 (awaiting assays) is incredibly exciting and builds on our belief that the high‐grade prospects like Dona Maria and Querosene are epithermal gold deposits related to a proximal porphyry gold-copper system.
“This intercept opens a new and exciting exploration opportunity for Meteoric and the geology team are working hard to understand the real potential of this gold-copper mineralisation before planning further drilling, with the high‐grade gold lodes remaining the focus of drilling for the completion of this program at Juruena.
“Novo Astro exploration is ongoing and drilling will now ramp up with a second GEOSOL rig having mobilised to the project and first assay results expected in late November.”