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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

 

THE DAILY ROADHOUSE

 

Meteoric Resources Encounters Visible Gold in First Novo Astro Hole

THE DRILL SERGEANT: Meteoric Resources (ASX: MEI) was champing at the bit to inform the market of recent developments from recently commenced drilling at the company’s 100 per cent-owned Novo Astro gold project in Brazil.

Red 5 Inks Option Agreement to Purchase Great Western Gold Deposit

THE BOURSE WHISPERER: Red 5 Limited (ASX: RED), by way of the company’s wholly-owned subsidiary, Darlot Mining Company, has entered into an Option Agreement for the right to purchase a 100 per cent interest in Mining Lease M37/54, containing the Great Western gold deposit in Western Australia.

Renascor Resources Releases Siviour DFS Results

THE BOURSE WHISPERER: Renascor Resources (ASX: RNU) delivered results of a Definitive Feasibility Study (DFS) for the company’s 100 per cent-owned Siviour graphite project near the coast of South Australia’s Eyre Peninsula.

Indiana Resources Kicks Off Mali Soil Sampling Program

THE DRILL SERGEANT: Indiana Resources (ASX: IDA) announced the commencement of a comprehensive soil geochemistry program at the company’s Saboussire gold prospect in Western Mali.

Southern Gold Receives Gubong Project ‘Permit to Develop’

THE BOURSE WHISPERER: Southern Gold (ASX: SAU) has been received word from its Joint Venture partner, London-listed Bluebird Merchant Ventures, of confirmation that the Permit to Develop for the Gubong gold mine in South Korea.

 

Meteoric Resources Encounters Visible Gold in First Novo Astro Hole

THE DRILL SERGEANT: Meteoric Resources (ASX: MEI) was champing at the bit to inform the market of recent developments from recently commenced drilling at the company’s 100 per cent-owned Novo Astro gold project in Brazil.

Meteoric Resources reported on the two holes at the Novo Astro project (NADD001 and NADD002) that were drilled into the José target, at the western end of a five-kilometre long mineralised corridor defined by historic Garimpeiro pits and rock chip samples.

NADD001 targeted mineralisation and veining sampled at the eastern end of the José Pit and was drilled to a depth of 135 metres, intersecting three zones of moderate to strong sericite‐pyrite alteration at 52.5m to 54.1m, 70.2m to 80.1m and 118.7m to 120.1m in porphyritic granite.

The deepest zone contained fine visible gold and corresponds with the projection of the high‐grade mineralisation and veining within the pit.

NADD002 targeted another mineralised corridor below the José Pit and intersected a 56m zone at 134m to 190m of variably sheared and altered porphyritic granite.

Meteroic identified two zones of 7m and 8m thickness, which show intense sericite and pyrite alteration at 134.2m to 141.6m and 182.m to 190.0m respectively.

“Novo Astro is a giant Garimpeiro mining centre that was very active in the 1980s which continues to be the site of small‐scale mining even today,” Metreoric Resources managing director Andrew Tunks said in the company’s announcement to the Australian Securities Exchange.

“Over the years a considerable body of work has been compiled at Novo Astro by previous explorers including pit sampling, geological mapping, soil geochemistry and selective rock chip sampling.

“However, until Meteoric, it had NEVER been drilled.

“We are delighted to be the team that drilled the first hole into Novo and we are excited that our first drill hole has intersected visible gold.

“The visible gold was only noted after cutting the core in preparation for assaying.

“The presence of gold in the core confirms mineralisation and veining continues at depth beneath historic workings.

“This is just the beginning of our exploration at Novo Astro and we have abundant targets to test and holes to drill.

“To advance the program, a second diamond drill rig was mobilised from Juruena to Novo Astro last week.

“As a geologist and explorer, the first holes into a new project is always one of the most exciting times in the life of an exploration program and I look forward to bringing assay results to the market as they become available from late November.”

 

Web: www.meteoric.com.au

 

THE DAILY ROADHOUSE

 

 

Calidus Resources Confirms Robustness of Warrawoona Pit

THE DRILL SERGEANT: Calidus Resources (ASX: CAI) announced further results from within the planned open pit at the company’s Warrawoona gold project in the Pilbara region of Western Australia.

Gold Road Resources Completes Healthy Gruyere Quarter

THE BOURSE WHISPERER: Gold Road Resources (ASX: GOR) released its activity report for the quarter ending 30 September 2019.

Perseus Mining Shuffles Seats at Boardroom Table

THE DRILL SERGEANT: Perseus Mining (ASX: PRU) made its intentions known that it will be proposing the appointment of David Ransom to the role of non-executive director at the company’s upcoming Annual General Meeting.

 

Meteoric Resources Welcomes Dr Paul Kitto Aboard

THE BOURSE WHISPERER: Meteoric Resources NL (ASX: MEI) made its presence felt at the 2019 Brisbane Resources Roundup by announcing the appointment of Dr Paul Kitto as non‐executive technical director.

Meteoric Resources recognised Dr Kitto’s more than thirty years’ experience working within the mining industry, having served on a number of ASX Boards and having held senior level management positions around the world, including Australasia and Africa.

Dr Kitto is currently technical director for ASX-listed Tietto Minerals (ASX: TIE) and was most recently (2015‐2019) exploration manager, Africa for Newcrest Mining and prior to that, was CEO and managing director of Ampella Mining from 2008 until 2014, when Ampella was acquired by LSE/TSX-listed Centamin PLC.

Throughout his career, Dr Kitto has led or been part of exploration teams that have discovered numerous multi‐million-ounce gold deposits in Africa, Australia and Papua New Guinea providing him with extensive experience associated with a wide range of deposit types, predominantly associated with gold and base metal deposits.

In addition, Dr Kitto has considerable experience dealing with global equity capital markets, project finance together with mergers and acquisitions.

“I am thrilled to welcome Paul to the board of Meteoric Resources,” Meteoric Resources managing director Dr Andrew Tunks said in the company’s announcement to the Australian Securities Exchange.

“Paul is someone in the industry I have known, admired and respected for many years and his knowledge of the gold space is second to none.

“Paul will play a hugely significant role moving forward with Meteoric as we progress our exploration programs on the ground in Brazil at both the Juruena and Novo Astro gold projects and no doubt the company and shareholders alike will benefit from his significant global experience in developing world class gold deposits.”

 

Web: www.meteoric.com.au

 

THE DAILY ROADHOUSE

Stavely Minerals Undertaking $19.6 Million Raising

THE BOURSE WHISPERER: Stavely Minerals (ASX: SVY) is conducting a capital raising of $19.6 million by way of a share placement of 19.6 million shares at $1.00 per share.

Saturn Metals Upgrades Apollo Hill Gold Resource

THE DRILL SERGEANT: Saturn Metals (ASX: STN) has completed an updated Mineral Resource estimate for the Apollo Hill gold deposit at the company’s 100 per cent-owned Apollo Hill gold project near Leonora in the Western Australian Goldfields.

Meteoric Resources Continues Juruena Golden Run

THE DRILL SERGEANT: Meteoric Resources (ASX: MEI) announced the latest batch of assays from the company’s 100 per cent-owned Juruena gold project in Brazil.

Auroch Minerals Progresses Saints Nickel Project Drill Program

THE DRILL SERGEANT: Auroch Minerals (ASX: AOU) kept the market up to date on the progress of its maiden drilling program underway at the company’s recently-acquired Saints nickel project near Kalgoorlie in Western Australia.

Independence Group Teams up with Apollo Consolidated at Louisa Nickel Sulphide Project

THE BOURSE WHISPERER: Independence Group (ASX: IGO) has entered a farm-in and joint venture with Apollo Consolidated Limited (ASX: AOP).

 

Meteoric Resources Continues Juruena Golden Run

THE DRILL SERGEANT: Meteoric Resources (ASX: MEI) managing director Andrew Tunks spoke with The Resources Roadhouse at the 2019 Brisbane Resources Round-up.

Meteoric Resources had earlier announced the latest batch of assays from the company’s 100 per cent-owned Juruena gold project in Brazil.

Meteoric Resources has received assays from drill holes JUDD003 to JUDD008 of its maiden drilling program, the results from which have continued to produce fresh bonanza grade gold intercepts.

Gold assays received for latest batch of diamond drill holes, include:

JUDD008
14 metres at 81.7 grams per tonne gold from 142m, including 2m at 71.6g/t gold from 144.5m and 2.5m at 287.4g/t gold from 149m; and

JUDD007
3.5m at 15.3g/t gold from 124m, including 1m at 51.9g/t gold from 124m.

Meteoric explained that hole JUDD008 has extended the high‐grade core of mineralisation outside the Indicated portion of the Dona Maria Mineral Resource.

The JUDD008 intercept indicated above was encountered 30m south and around 40m down dip of JUDD001, which intersected 20.6m at 94.9g/t gold from 96.8m, including 3.65m at 508.4g/t gold from 107.5m, with potential that the bonanza grade portion extends even further to the south.

“We knew with the visible gold detected in Hole JUDD008 that the results would be very exciting indeed, but we are thrilled to report more significant intercepts such as fourteen metres at 81 grams per tonne gold in JUDD008 and three and a half metres at 51 grams per tonne gold in JUDD007,” Meteoric Resources managing director Andrew Tunks said in the company’s announcement to the Australian Securities Exchange.

“To date the initial drilling at Don Maria has been a great success and has given us the confidence to model a potential high‐grade ore shoot that we will test in a final deep hole at the end of the program.

“Holes JUDD09 to JUDD013 are being logged and sampled and we look forward to reporting the full results once the assays are returned in early November.

“At Juruena we are now moving our attention to the Tomate and Querosene prospects where we intend to drill a further 10 holes testing some high‐grade areas both inside and outside the known resources.”

Just nearby is Meteoric’s Novo Astro project, which along with Juruena is considered by the company to comprise the most prospective cluster of targets within its extensive Brazilian portfolio.

Previous artisanal mining at Juruena and Novo Astro has identified and exploited both alluvial and primary mineralisation resulting in the manual production of approximately one million ounces of gold.

The Juruena project was intensely drilled by several previous explorers, however, Novo Astro has only been explored by surface exploration meaning there has never been any drilling of Novo Astro to test the gold grade and depth extent of the surface alteration and mineralisation that has been mapped, and where Meteoric recently collected high‐grade rock chips up to 290g/t gold.

Drilling began at Novo Astro in early October, commencing at the José prospect, (Hole NADD005) where rock chip samples of over 200g/t were previously collected.

“I am also excited to report that drilling has now commenced at Novo Astro with the first hole collared into the José prospect on 2 October and expected to be complete by the 15th,” Tunks said.

“A more fulsome update will be provided once the core is geologically logged.”

 

Web: www.meteoric.com.au