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Meteoric Resources (ASX:MEI) - Managing Director, Dr Andrew Tunks - The Market Herald
Managing Director, Dr Andrew Tunks
Source: The Market Herald
  • Meteoric Resources (MEI) has commenced its high-grade target drilling program at its wholly-owned Juruena Gold Project in Brazil
  • The 4000-metre diamond drilling program will initially target the Dona Maria gold prospect
  • Last year, drilling confirmed bonanza grade gold and the continuity of high-grade gold shoots that remain open at depth
  • While Brazil is still feeling the effects of COVID-19, outbreaks are concentrated far from the project area
  • Company shares remain in the grey and are trading for 1.9 cents each

Meteoric Resources (MEI) has commenced its high-grade target drilling program at its wholly-owned Juruena Gold Project in the Alta Floresta Belt in Brazil.

The 4000-metre diamond drilling program began yesterday and will initially target the Dona Maria gold prospect.

This is following up on a drilling program undertaken last year. During the program, drilling confirmed the continuity of two high-grade shoots 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," Managing Director Dr Andrew Tunks said.

Drilling is targeting the southern shoot in two separate zones. These include zone one, which lies within the existing resource and is aimed at improving estimation confidence. Zone two lies below the existing resource and Meteoric hopes drilling in this zone will further grow the resource.

Last year, drilling achieved bonanza grade gold intercepts.

These include; 20.6 metres at 94.9 g/t gold from 96.8 metres, including 3.65 metres at 508.4 g/t gold from 107.5 metres, and 14.0 metres at 81.7 g/t gold from 142.0 metres, including two metres at 71.6 g/t gold from 144.5 metres and 2.5 metres at 287.4 g/t gold from 149.0 metres.

COVID-19

Meteoric has assured investors that while Brazil is still feeling the effects of the coronavirus, the outbreaks are concentrated in larger cities. As such, the area in which the project lies has been largely unaffected.

During temporary site closures, Meteoric utilised the time to refine its 2020 drilling program. Its clear objectives include increasing the epithermal gold mineral resource and converting the resource from the inferred to the indicated category.

Drilling will also follow up on gold-copper porphyry-style mineralisation at the Crentes prospect.

Company shares remain in the grey and are trading for 1.9 cents each at 11:53 am AEST.


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