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Meteoric Resources Encounters Thick Gold Mineralised Zones at Butchers Creek

THE DRILL SERGEANT: Meteoric Resources (ASX: MEI) reported the first results from its 2021 program at the company’s Palm Springs gold project in Western Australia.

Meteoric Resources declared strong results from the follow-up drilling program undertaken at the Butchers Creek deposit within the Palm Springs project, claiming to have confirmed the presence of thick zones of gold mineralisation enhancing the anticline hinge zone target.

Highlights of the drilling included anticlinal hinge zone intersections that confirmed large, robust intervals of:

BCRD483
57 metres at 1.6 grams per tonne gold from 223m, including 18m at 3.1g/t gold from 234m; and

BCRD484
32m at 1.4g/t gold from 266m, including 4m at 6g/t gold from 266m.

Meteoric said the results enhance the progress it has made to date at Palm Springs and provide confidence for the company to forge ahead with a Scoping Study looking at open pit and underground development scenarios.

Remaining assay results are anticipated to be delivered in October.

“We learned a great deal about the Butchers Creek deposit from last year’s highly successful drill program, in particular, gold mineralisation is stratabound within a single thick syenite unit and that the highest grade and thickest parts of the orebody occur within the hinge zone of a regional scale anticlinal fold hinge,” Meteoric Resources managing director Dr Andrew Tunks said in the company’s ASX announcement.

“This gold mineralisation forms a robust high-grade zone that plunges shallowly southeast.

“This work produced a global resource statement of 5.2 million tonnes at 1.9 grams per tonne gold for 319,000 ounces of gold, including 1.9 million tonnes at 2.2g/t gold for 139,000 ounces of Indicated Resource.

“In fact, this makes it the largest gold resource in the belt outside the Nicholsons deposit and we see it as central to any potential new development in the Halls Creek region.

“The 2021 drilling program has further fleshed out our mineralisation model.

“The orebody is exposed beneath the historic pit and plunges away to the south, with recent drilling results supporting the presence of high-grade shoots occurring within the thick moderate-grade Hinge Zone.

“It seems logical from the orebody geometry that development could proceed underground to the south from a substantially enlarged historic open pit.

“Based upon these results we will now move into the following key studies: Open pit optimisations to develop ore immediately beneath the historic pit; underground development scenarios to exploit deepest portions of the resource, initial preliminary metallurgical studies on 2021 drill core, and assessing process route designs.

“These will all be fed into a Scoping level study.

“While proceeding with this plan, we have commenced exploring for repeat orebodies within close proximity of the Butchers Creek deposit.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

 

Web: www.meteoric.com.au

 

Meteoric Resources Delivers Palm Springs Maiden Resource Ahead of Schedule

THE DRILL SERGEANT: Meteoric Resources (ASX: MEI) released its maiden Mineral Resource Estimate for the company’s Palm Springs gold project (PSGP) in Western Australia.

Meteoric Resources has established the MRE of 5.6 million tonnes at 2 grams per tonne gold for 357,000 ounces of gold – including 139,000 ounces of Indicated Resources – from two deposits with PSGP.

The Butchers Creek deposit includes remaining resources below the historic pit and has come in with:

Indicated: 1.9 million tonnes at 2.24g/t gold for 139,000 ounces gold; and
Inferred: 3.3 million tonnes at 1.7g/t gold for 180,000 ounces gold.

The Golden Crown deposit estimate has been restated under JORC 2012 criteria for:

Inferred: 390,000 tonnes at 3.1g/t gold for 38,000 ounces gold.

“This is the single most significant event for shareholders since I have been at the helm of Meteoric, accelerating our development timetable by 12 months and opening a range of exciting options to progress the Palm Springs Gold Project that had not previously been on the table,” Meteoric Resources managing director Andrew Tunks said in the company’s ASX announcement.

“Our ability to complete a successful exploration season at Palm Springs within months of acquiring the project contributed heavily to this maiden resource and these efforts have paid huge dividends.

“Particularly pleasing is the confidence established in the historic drilling, allowing the classification of significant Indicated Resources at Butchers Creek based on: the quality of the original data, close drill spacing, comparable/supporting results in 2020 drilling, comparisons with historic production, and the successful extension of mineralisation to the south.

“Ultimately this has resulted in a fabulous set of Resource numbers.

“It is equally important to recognise the implications of achieving Indicated Resource status for 40 per cent of the MRE.

“This will significantly reduce our planned exploration and development timelines.

“We have ceased pumping out the Butchers Creek Open Pit as there is no longer any need to validate the historic drilling prior to initiating economic/prefeasibility studies.

“In addition, the current 3,800 metres drill program is planned to both extend and increase confidence in the mineralisation at Butchers Creek, paving the way for a further Resource upgrade at the end of the current drill program.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@meteoric.com.au

 

Web: www.meteoric.com.au

 

Meteoric Resources Drilling for a Giant Brazilian Copper-Gold Nut

THE DRILL SERGEANT: Meteoric Resources L (ASX: MEI) is set to commence its 2021 Brazilian drilling program at the company’s Juruena Gold Project in Brazil.

Meteoric Resources will be targeting a potential copper-gold porphyry system beneath the high-grade Juruena Epithermal gold deposits.

The key priority of this program, which begins in early February, will be to test the high chargeability anomalies generated by a Deep IP survey, which the company completed at the end of 2020.

An initial 3,600 metres drilling campaign will commence in early February with the rig already onsite.

Three diamond drill holes will test the peak of the chargeability anomaly defined by the 2020 Deep IP and MT survey.

“This drilling campaign could well be a potential game changer for Meteoric,” Meteoric Resources managing director Dr. Andrew Tunks said in the company’s ASX announcement.

“Up until this point we have had a host of positive indicators that led us to believe that the shallow high-grade Epithermal gold mineralisation we see at Juruena was potentially related to a deeper magmatic source.

“The 2020 Deep IP &MT survey continues to support this theory having defined a large, high-response IP chargeability anomaly that demands immediate drill testing.

“As such I am pleased to advise that we mobilised the geology team to site early in the New Year and that drilling of an initial three-hole program totalling around 3,600 metres will start in early February.

“Drilling high value targets like this is a key reason that I became an explorer – there is never a more exciting time than when you are drilling a target that has multiple lines of support and serious size potential.

“What we are about to commence in Brazil represents an enormous opportunity for the company and I look forward to updating you on our results over the coming months as the drilling continues.”

 

 

Web: www.meteoric.com.au

 

Meteoric Resources Confirms Historic Mineralisation at Palm Springs

THE DRILL SERGEANT: In the lead-up the RIU Resurgence Conference next week, Meteoric Resources (ASX: MEI) reported encouraging news from drilling at the company’s Palm Springs gold project in Western Australia.

Meteoric Resources drilled the first two diamond drill holes of the 2020 drilling program at the Palm Springs project, which it said intersected broad zones of sulphide mineralisation.

The company said these first two holes had visually confirmed the location and geometry of the historical high‐ grade gold intercepts underneath and along strike from the Butchers Creek open pit in the Kimberley.

The company has taken increased confidence from the diamond drill holes intercepting broad zones of visual sulphide mineralisation that are consistent with the location of the historical high‐grade gold intercepts at Butchers Creek.

RC drilling will now commence in conjunction with the diamond drill rig, with both rigs drilling throughout September and into October.

“For the first time we are seeing these wide high‐grade mineralised gold zones in drill core and we are liking what we see,” Meteoric Resources managing director Dr Andrew Tunks said in the company’s announcement to the Australian Securities Exchange.

“It was important to get these first diamond drill holes into the deposit to confirm the presence and geometry of the mineralised trachyte, and I am very pleased to report that these holes have intercepted mineralisation consistent with our interpretation.

“We now have the confidence to turn the dial up on our drilling efforts and have both an RC and diamond rig in action simultaneously.

“Core logging and processing is progressing well and we expect to be reporting assay results from the first holes of the 2020 Palm Springs project in October.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

 

 

Web: www.meteoric.com.au

 

Meteoric Resources Encounters High-Grade Gold and Copper Extensions at Juruena

THE DRILL SERGEANT: Meteoric Resources (ASX: MEI) announced results from the first four holes of its 2020 drilling program from the company’s 100 per cent-owned Juruena gold project in Brazil.

Meteoric Resources reported the assay results from its 2020 drilling at the Juruena gold project extended the high‐grade gold at the Dona Maria prospect and discovered a new style of high‐grade gold copper mineralisation at the Crentes prospect.

Results include:

JUDD024
9 metres at 15.6 grams per tonne gold and 1.5 per cent copper from 100m (141 g/t.m), including 6m at 21.6g/t gold and 2 per cent copper from 101m, and 3m at 6.2g/t gold from 243m (19 g/t.m)

JUDD025
3.4m at 10.1g/t gold from 392m (34 g/t.m), including 0.5m at 71.9g/t gold from 394.5m.

The company highlighted the gold copper intercept of 9m at 15.6g/t gold and 1.5 per cent copper in JUDD024 in the Crentes Fault, saying that in addition to being a spectacular gold intercept, is the highest‐grade copper zone intersected at Juruena.

“The first results from the 2020 drilling have provided Meteoric with confirmation that the Dona Maria high-grade zone does indeed continue down dip and the intercept of 3.4 metres at 10 grams per tonne gold in hole JUDD0025 is over 100 metres below the base of the currently modelled mineral resource,” Meteoric Resources managing director Andrew Tunks said in the company’s announcement to the Australian Securities Exchange.

“This is a great start to the 2020 drilling as obviously the 2020 drilling will have a large impact when the resource is re‐estimated on completion of this program.

“Equally exciting was the much shallower intercept of strong gold‐copper grades associated with intense hydrothermal brecciation giving the best copper grades ever drilled on the project.

“The intercept in JUDD024 of 9 metres at 15.6 grams per tonne gold and 1.5 per cent copper, in addition to comprising a spectacular gold intersection, eclipses the previous best copper result recorded at Juruena in JUDD010, which recorded 54.3 metres at 1.33 grams per tonne gold and 0.23 per cent copper (ASX release 6/11/19).

“Of huge interest to us is that the gold‐copper intercept in JUDD0024 is a whole new style of mineralisation never before noted at Juruena and thus opens up further exploration opportunities and we will continue to chase this emerging potential throughout the 2020 field season.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Web: www.meteoric.com.au

 

Meteoric Resources Divests Canadian Projects

THE BOURSE WHISPERER: Meteoric Resources (ASX: MEI) reinforced its recent acquisition of Australian tenure by selling off the company’s Canadian based Midrim and LaForce nickel-copper projects.

Meteoric Resources has entered into a conditional tenement sale agreement to divest the projects to Rafaella Resources in exchange for approx. 13 million shares in that company.

Based on the last trading price of Rafaella before stamping the deal a shareholding of $860,000 will increase the value of Meteoric’s treasury stash to approximately $6.7 million, giving it range to explore both its new Western Australian and existing Brazilian gold projects.

“This is a fantastic result for Meteoric,” Meteoric Resources managing director Andrew Tunks said in the company’s announcement to the Australian Securities Exchange.

“With our sole focus being on our highly prospective Western Australian and Brazilian gold projects, we did not have the bandwidth to properly explore the Midrim and LaForce projects, so we are thrilled to have entered into an agreement with Rafaella which is in a better position to further these projects.

“Additionally, through the nature of the sale our shareholders will benefit from Rafaella’s future success.”

 

TO READ THE ANNOUNCEMENT IN FULL: CLICK HERE

 

Email: info@peelmining.com.au

Web: www.meteoric.com.au

 

Meteoric Resources Commences Work at WA Acquisition

THE DRILL SERGEANT: Meteoric Resources (ASX: MEI) is poised to commence its 2020 field season at the Palm Springs gold project. located near Halls Creek in the Kimberley of Western Australia.

Meteoric Resources explained that, pending the imminent completion of the acquisition of the Palm Springs project, the company has already mobilised to site in preparation of an initial exploration and drilling program, which is expected to commence in Q3.

This initial program will include:

RC and Diamond Drilling Program to explore for extensions of the Butchers Creek Orebody where historic drilling encountered encouraging gold intercepts below the base of the open pit;
Evaluation of Regional Structural targets focussing in on the ‘Host Unit’, a trachyte host rock that concentrates gold mineralisation, following which the company will build a 3D model across the licences; and
Baseline geophysical studies to identify and target non‐outcropping host unit and sulphide alteration.

“We are delighted to have been in a position to move swiftly to enter into an agreement to secure an Australian asset in the Palm Springs project and we already have boots on the ground (within a week of announcing its acquisition) thus officially kicking‐off our 2020 field season in the Kimberley,” Meteoric Resources managing director Dr Andrew Tunks said in the company’s announcement to the Australian Securities Exchange.

“The Palm Springs project has significant upside potential for shear hosted high grade mineralisation, as demonstrated by the historical drill intercepts.

“Our plan is to heed the advice of numerous geologists previously working at the project by engaging structural experts to commence a detailed exploration program to gain an understanding of the structural setting and its controls on mineralisation.

“Following this we will compile a 3D model and get busy drill testing these high‐grade gold targets.”

While mobilising down under, Meteoric is also running a drilling program in Brazil at its wholly-owned Juruena project.

“At Juruena in Brazil we have successfully executed our back to work strategy and we are already on hole two of our Resource expansion program targeting the Dona Maria and Crentes prospects,” Tunks continued.

“We have commenced work at the very high‐grade Dona Maria project where we are looking to convert inferred resources to indicated and extend the resource down plunge.

“After Dona Maria we will move onto a potential company maker where we look for the source of the high‐grade mineralisation, namely the gold copper porphyry system which we believe is driving the entire Juruena mineralised system.”

 

Web: www.meteoric.com.au

 

 

Meteoric Resources Commences 2020 Drilling Program at Juruena

THE DRILL SERGEANT: Meteoric Resources (ASX: MEI) announced the commencement of drilling at the company’s 100 per cent-owned Juruena gold project located within the Alta Floresta Belt in Brazil.

Meteoric Resources indicated its 2020 drilling campaign will focus on high‐grade targets, initially hitting the Dona Maria gold prospect where its 2019 drilling program confirmed continuity of two high‐ grade shoots (north and south) that remain open at depth beneath the existing resource.

“We are thrilled to be back on the ground at Juruena and the team is champing at the bit to see what the 2020 program has in store for us,” Meteoric Resources managing director Dr Andrew Tunks said in the company’s announcement to the Australian Securities Exchange.

“Following mobilisation to site last week, drilling kicked‐off on Monday 8th June with the first hole targeting bonanza epithermal gold grades within the Dona Maria prospect.

“Our aim is to start the program targeting the high‐grade gold Dona Maria prospect following the last campaign which confirmed the existing resource remains open at depth.

“Work will initially commence at the southern high‐grade gold shoot intercepted in holes JUDD001, 008, 009 and 022.

“This drilling program is designed to improve the estimation confidence and to further grow the resource.

“From Dona Maria it is our aim to move to the Crentes prospect to follow up an exciting, thick, gold‐copper intercept in JUDD0010 that demonstrates the significant porphyry potential of the Juruena project.

“We are excited to be following up some spectacular grades at Juruena from the 2019 program and we look forward to keeping shareholders up to date as we progress.”

 

Web: www.meteoric.com.au

 

THE DAILY ROADHOUSE

 

Antipa Minerals Drills Mineralised Extensions at Calibre Rio Tinto JV

THE DRILL SERGEANT: Antipa Minerals (ASX: AZY) advised of progress from the exploration program that is underway at the Citadel project Rio Tinto Farm‐in and Joint Venture in the Paterson Province of Western Australia.

Meteoric Resources Raises $7M to Accelerate Brazilian Exploration

THE BOURSE WHISPERER: Meteoric Resources (ASX: MEI) has received firm commitments to raise $7 million by way of the placement of 140 million new shares to sophisticated and professional investors at five cents per share.

Gateway Mining Expands Gidgee Gold Project Drilling Program

THE DRILL SERGEANT: Gateway Mining (ASX: GML) is progressing with an ongoing Reverse Circulation (RC) drilling program at the company’s 100 per cent-owned Gidgee gold project in Western Australia.

St George Hits More Mt Alexander Nickel-Copper Sulphides

THE DRILL SERGEANT: St George Mining (ASX: SGQ) has encountered further thick intercepts of high-grade mineralisation from drilling of deeper EM conductors at the company’s Mt Alexander project in the north-eastern Goldfields of Western Australia.

 

Meteoric Resources Raises $7M to Accelerate Brazilian Exploration

THE BOURSE WHISPERER: Meteoric Resources (ASX: MEI) has received firm commitments to raise $7 million by way of the placement of 140 million new shares to sophisticated and professional investors at five cents per share.

Meteoric Resources advised the funds raised would enable acceleration of exploration activities at the company’s 100 per cent-owned Juruena and Novo Astro gold projects located in the Alta Floresta Gold Belt in that state of Mato Grosso, Brazil.

Meteoric currently has maiden drilling programs underway at both projects.

“The support we have received from both existing and new shareholders for Meteoric’s Brazilian portfolio of gold assets is a true testament to the sheer prospectivity that exists at both Novo Astro and Juruena,” Meteoric Resources managing director Dr Andrew Tunks said in the company’s announcement to the Australian Securities Exchange.

“As a Board, we are delighted with how our initial exploration of both projects has progressed since acquisition in March of this year and this $7 million Placement, which follows the $2.7 million in August, puts us in good stead to accelerate exploration at both our key projects.

“Following on from the completion next month of the 26 hole, 4,500 metres initial drilling program at Juruena, it is our intention to evaluate our program and plan for the next season of drilling.

“It is anticipated that the new drilling will focus on expanding the known mineralisation at depth at Dona Maria and along strike at Tomate.

“Additionally, we will look at several other under drilled targets and the largely unexplored Arrasto Hills to the Northwest where the strongly altered volcanics demand further investigation.”

 

Web: www.meteoric.com.au