Meteoric Resources to Commence Juruena Drilling

THE DRILL SERGEANT: Meteoric Resources (ASX: MEI) announced the signing of a contract with Brazil’s largest drilling Company GEOSOL to carry out a maiden diamond drilling program on the company’s 100 per cent owned Juruena gold project.

Metroric Resources said it anticipates a drill rig and associated equipment to be onsite shortly with drilling to commence in July.

Meteoric explained the significance of the signing of the Brazilian drillers saying that GEOSOL has a logistical base located in the Alta Floresta Belt in the township of Peixoto de Azevedo that means it has access to nearby logistical support for remote drilling operations that is crucial to minimising unwanted delays and costs.

The company’s initial program will concentrate on high‐grade zones at the project’s Dona Maria and Querosene prospects, in addition to testing other known prospects including Mauro, Tomate and Uilliam, comprising 26 holes for 4,700 metres of diamond drilling.

Targets will be refined as drilling progresses, considering a combination of visual logging of the drill cores and assay results from the laboratory.

“Since the formal completion of the Acquisition of Juruena and Novo Astro was completed…we have been working hard to commence our exploration,” Meteoric Resources managing director Dr Andrew Tunks said in the company’s announcement to the Australian Securities Exchange.

“The initial drill program will be weighted towards following up bonanza grade intercepts at Dona Maria and Querosene, but will also test additional nearby targets at Mauru, Tomate and Uilliam, which also contain multiple exciting gold grade intercepts from limited drilling.

“I have just completed two weeks onsite at Juruena, overseeing the smooth transition of the Brazilian projects into Meteoric as we gear up to begin our first drill campaign.

“I am pleased to report that Juruena is even more exciting than I anticipated, and the team has produced a quality drill program with excellent targets for our maiden exploration.

“I very much look forward to reporting our results as we progress.”

The Juruena project’s current JORC Code 2012-compliant Global Mineral Resource Estimate of 1.3 million tonnes for 261,000 ounces of gold at 6.3 grams per tonne comprises:

High-grade Dona Maria and Querosene resources of 436,000 tonnes at 14.7g/t for 205,000 ounces of gold; and

The large‐tonnage, lower‐grade Crentes resource of 846,000 tonnes at 2g/t for 55,000 ounces of gold.