THE DRILL SERGEANT: Meteoric Resources (ASX: MEI) is set to commence drilling at the company’s 100 per cent-owned Novo Astro gold project in Brazil.
Meteoric Resources has signed a contract with GEOSOL to carry out the drilling that is expected to mobilise a rig to site within the next two weeks with drilling expected to commence in late September.
This will all be happening as the company’s ongoing diamond drilling program on the Dona Maria prospect at its Juruena project continues, with two rigs now on site working double shifts.
“Our Brazilian Exploration team have been working hard to secure an additional drilling rig from GEOSOL and prepare accommodation and work facilities in the Garimpeiro’s Village at Novo Astro for our expanding team,” Meteoric Resources managing director Andrew Tunks said in the company’s announcement to the Australian Securities Exchange.
“We expect the rig for Novo Astro to mobilise within the next two weeks and commence drilling in late September.
“Excitingly, this will be the first drilling ever conducted at Novo Astro and is targeting the depth extensions of gold mineralisation that has been previously mined by Garimpeiro operations over the last 40 years.
“At the same time, drilling at the Dona Maria prospect has progressed well and we have now completed eight holes.
“The first seven sample batches are at ALS Laboratories and we expect results of these batches within the next 10 days.
“Results will be reported at that time.
“Of great significance, Hole JUDD008 has intersected a wide zone of intense alteration at the expected target depth and Senior Geologist Marcelo Gomes has identified visible gold within the zone.
“To date all holes completed have intersected the targeted alteration zones and this is the second time we have seen visible gold in the core.”
Meteoric’s exploration team has planned an initial twenty‐one hole drilling program for 2,500m at Novo Astro.
This first pass program is designed to test under old workings where gold has been previously mined by local artisanal miners (Garimpieros).
Novo Astro is located approximately 30km to the east of the Juruena project.