THE DRILL SERGEANT: Meteoric Resources (ASX: MEI) is set to commence drilling at the company’s Novo Astro project in Brazil.
The Novo Astro project is located approximately 30 kilometres to the east of the company’s Juruena gold project.
Meteroic Resources explained the Juruena project was previously subjected to intense drilling by several earlier explorers, while Novo Astro has only been explored by surface exploration works.
There has been no drilling of Novo Astro to test the gold grade and depth extent of the surface alteration and mineralisation that has been mapped and which returned high‐grade rock chips up to 290.13 grams per tonnes gold in the company’s current sampling program.
“Recent mapping at Novo Astro recognised thick zones of alteration and mineralisation within basement rocks that have been the target of extensive artisanal mining,” Meteoric Resources managing director Andrew Tunks said in the company’s announcement to the Australian Securities Exchange.
“Results from reconnaissance rock chip sampling confirm mineralisation at multiple targets, warranting immediate testing.
“A twenty‐one hole drilling program for 2,500 metres is planned, which will commence late September.
“The initial drill program will target the depth potential of significant gold mineralised structures that can be mapped and sampled in the extensive Garimpeiro workings across Novo Astro.
“To this end, four initial prospects have been defined for us to commence drilling.
“At the same time, planning is underway to commence geophysical programs across Novo Astro, initially these will include magnetics, which will assist in our structural interpretation and an Induced Polarisation (IP) survey which can be locate disseminated sulphides.
“The current round of rock chip sampling has confirmed the gold‐pyrite association and we feel that IP could provide an excellent tool to direct our drilling.”