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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

November 11, 2019/in Resources Roadhouse /by Wally Graham

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

November 11, 2019/in Resources Roadhouse, The Drill Sergeant /by Wally Graham

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

October 22, 2019/in Resources Roadhouse /by Wally Graham

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

October 16, 2019/in Resources Roadhouse, The Bourse Whisperer /by Wally Graham

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

October 14, 2019/in Resources Roadhouse /by Wally Graham

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

October 14, 2019/in On The Air, Resources Roadhouse, The Drill Sergeant /by Wally Graham

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

Meteoric Resources Prepares for Novo Astro Diamond Drilling Program

October 1, 2019/in Resources Roadhouse, The Drill Sergeant /by Wally Graham

THE DRILL SERGEANT: Meteoric Resources (ASX: MEI) has greeted the arrival of the GEOSOL diamond drill rig and crew to the company’s 100 per cent-owned Novo Astro gold project in Mato Grosso, Brazil.

Drilling is expected to commence early October with four initial targets having been selected based on geological mapping, artisanal workings, soil geochemistry and grab sampling.

Novo Astro is located 30 kilometres from the company’s active drilling campaign at its 100 per cent-owned Juruena project.

Together with Juruena, Novo Astro comprises the most prospective cluster of targets within Meteoric’s extensive Brazilian portfolio.

FOLLOW THIS LINK TO SEE OUR INTERVIEW WITH MANAGING DIRECTOR ANDREW TUNKS

Meteoric Resources explained that previous mining at Juruena and Novo Astro identified and exploited both alluvial and primary mineralisation.

Artisanal mining across both sites commenced at the end of the 1960s and was responsible for the production of approximately one million of gold.

Although the Juruena project was subjected to intense drilling by several previous explorers, Novo Astro has only been explored by surface exploration.

Subsequently, 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 290 grams per tonne gold.

The company’s previous reconnaissance mapping and rock chip sampling at the Novo Astro project defined four targets for follow up drilling: Graça, Matteus, José, and Bodhi.

Meteoric is now set to commence a 21-hole drilling program at Novo Astro.

Over at the Juruena project, diamond drilling has continued to progress with two rigs completing double shifts.

The rigs are completing the final holes at Dona Maria and will soon move to other targets at Querosene and Tomate.

Web: www.meteoric.com.au

Meteoric Resources (ASX: MEI)

September 26, 2019/in On The Air, Resources Roadhouse, The Conference Caller /by Wally Graham

THE CONFERENCE CALLER: Meteoric Resources managing director Andrew Tunks filled us in about the company’s recent Brazilian drilling success at the RIU Resources Investor Roadshow in Melbourne.

CLICK ON THE PICTURE BELOW TO VIEW

Meteoric Resources (ASX: MEI) received assays from from its maiden drilling program currently underway at the company’s 100 per cent- owned Juruena gold project in Brazil.

Meteoric Resources said the assays related to the first two diamond drill holes of its current campaign, JUDD001 and JUD002, both of which intersected visible gold at the Dona Maria rospect.

DDH JUDD001 intercepted a thick zone of strongly altered granite and assays confirm a broad zone of bonanza grades, including:

20.6 metres at 94.9 grams per tonne gold from 96.8m, including 3.65m at 508.4g/t gold from 107.5m.

DDH JUDD002 intercepted two separate zones of alteration and gold mineralisation returning assays of:

1.1m at 22.68g/t gold from 41.2m; and
4.5m at 6.2g/t gold from 46.6m.

“We were expecting something special from our first holes at Juruena after we intersected visible gold and intense alteration, however the results have exceeded even my expectation,” Meteoric Resources managing director Andrew Tunks said in the company’s announcement to the Australian Securities Exchange.

“In fact, this is the best drilling intercept I have ever been involved with in my career.

“While we were confident of the possibilities based on the historic drilling and the gold we observed, it is very reassuring to have assay numbers that support our interpretation.

“I am extremely proud of what the company and the exploration team has achieved since the acquisition in April.

“We have recruited and deployed excellent staff, contracted and mobilised two drill rigs and struck bonanza grades.

“All done in remarkably quick time.

“We have now completed eight holes and are testing some deeper targets beneath Dona Maria that are very exciting.

“The geological logging, sample dispatch and assay procedures are flowing well ensuring a steady flow of drill results over the coming months.

“Furthermore, we have recognised the untapped potential at the Novo Astro project and moved quickly to execute an exploration and drilling program in tandem with Juruena.”

Web: www.meteoric.com.au

Meteoric Resources Hits Bonza Brazil Grades at Juruena

September 18, 2019/in Resources Roadhouse, The Drill Sergeant /by Wally Graham

THE DRILL SERGEANT: Meteoric Resources (ASX: MEI) received assays from from its maiden drilling program currently underway at the company’s 100 per cent- owned Juruena gold project in Brazil.