Sao Paulo, Brazil – ShutterStock
Market Herald logo


Be the first with the news that moves the market
  • Field work has commenced at Meteoric Resources’ Novo Astro Gold Project in Brazil
  • Despite being a large soil anomaly and returning high grades of gold and silver Novo Astro has never been drilled
  • The sampling program is already underway with the first batch of samples already dispatched to the lab with results due in mid-August

Meteoric Resources has commenced its initial work program at its Novo Astro Project in Brazil.

Located approximately 30 kilometres east of its Juruena Gold Project, Novo Astro spans in excess of 15 square kilometres and contains many ‘Garimpiero Workings’ from the 1980s several of which are still actively being mined.

Despite a large soil anomaly and previous sampling returning results up to 264 g/t gold, Novo Astro has never been drilled.

Previous sampling and workings indicate there is potential significant gold at Novo Astro. Meteoric field crews have commenced a detailed sampling program both in and around the open pits.

At this stage 36 new samples have been collected and dispatched for assay at SGS Belo Horizonte.

“The Novo Astro Project demonstrated the potential to be a stand-alone gold field that could deliver real value to the Company,” Meteoric Resources’ Managing Director Andrew Tunks commented.

“We have only just begun our work here and already we have identified walk up drill targets to test.”

Initial impressions of Novo Astro have been very positive with the recognition that thick zones of strongly altered intrusive rock with intense veins are the host rocks of the previously mined high-grade gold mineralisation.

Historical regional chip sampling over these pits show impressive values for gold, up to 264 g/t, and silver, up to 50.1 g/t.

Drilling is now underway at Juruena’s Dona Maria prospect. Meteoric will keep shareholders and the public informed as the program progresses.

Meteoric shares are up 3.13 per cent trading for 3.3 cents with a market cap of $28.44 million.

MEI by the numbers
More From The Market Herald
The Market Herald Video

" Ora Gold (ASX:OAU) obtains unsecured $500k loan facility

Ora Gold (ASX:OAU) has obtained an unsecured $500,000 loan facility from Ioma to assist with general…
Blaze Minerals (ASX:BLZ) - Managing Director, Simon Coxhell

" Blaze Minerals (ASX:BLZ) sees early drill success at Earaheedy, WA

Blaze Minerals (ASX:BLZ) has seen early success at its Earaheedy Basin project in Western Australia after…
The Market Herald Video

" Cannindah Resources (ASX:CAE) raises $2m to continue Mt Cannindah drilling

Cannindah Resources (ASX:CAE) completes a $2 million capital raising to continue its drilling program at Mt…

" Austral Gold (ASX:AGD) robbed of gold precipitate in armed robbery at Guanaco, Chile

Austral Gold (ASX:AGD) reported an armed robbery incident at its Guanaco refinery at Taltal in the…