THE DRILL SERGEANT: Meteoric Resources (ASX: MEI) announced the commencement of an initial work program at the company’s Novo Astro project in Brazil.
The Novo Astro project is located approximately 30 kilometres to the east of Meteoric Resources’ Juruena gold project.
Meteoric described Novo Astro as a large area (in excess of 15 square kilometres) that contains many Garimpiero workings from the 1980s, several of which are still actively being mined.
Despite previous explorers defining a large soil anomaly and carrying out grab sampling returning grades up to 264 grams per tonne gold, Novo Astro has never been drilled.
“The Novo Astro project demonstrates the potential to be a stand‐ alone gold field that could deliver real value to the company,” Meteoric Resources managing director Andrew Tunks said in the company’s announcement to the Australian Securities Exchange.
“We have only just begun our work here and already we have identified walk up drill targets to test.
“When we commenced our initial program at Juruena, we already had in mind the possibility of testing the Novo Astro drilling in tandem, this was a key component in our decision to order two rigs from Geosol.
“It’s a fantastic result for the company that our initial Novo Astro work has been so positive that we can commit to drilling on both of our key Brazilian projects in our maiden drill program.
“Contained within Novo Astro are a multitude of historic workings, some of these pits exploit the modern river systems and are therefore alluvial in nature and not of interest to us.
“However, there are many open pits that have previously mined gold from the bed rock and our recent field work has shown us thick zones up to 50 metres of intensely brecciated and veined rocks with substantial alteration zones.
“Despite the fact the rocks are partially weathered, abundant sulfides (dominantly pyrite) can be found.
“We know from Juruena that the gold is closely related to the presence of pyrite and we know from previous sampling and the extensive mining that these zones are clearly gold bearing.
“Our first batch of 36 samples from Novo Astro have been dispatched to the lab and we should have results within weeks.
“Of course, this is all happening simultaneously with the Juruena drilling program, which has already kicked off at the first targets at the high‐grade Dona Maria prospect.
“This is a very exciting time indeed for Meteoric.”