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