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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 received results from the first four holes of the 2020 drilling program at the Juruena Gold Project in Brazil
  • A total of eight holes have been completed to date, with focus on the high-grade Dona Maria and Crentes prospects
  • Two of the four holes tested the southern high-grade shoot at Done Maria and confirmed the presence and high-grade nature of the resource
  • Additionally, up to 71.9g/t gold was intersected
  • Meteoric is down 6.25 per cent and shares are trading for 4.5 cents each just before market close

Meteoric Resources (MEI) has received results from the first four holes of the 2020 drilling program at the Juruena Gold Project in Brazil.

A total of eight holes have been completed to date, with focus on the high-grade Dona Maria and Crentes prospects.

Two of the four holes, JUDD024 and JUDD025, tested the southern high-grade shoot at Dona Maria and confirmed the presence and high-grade nature of the resource.

JUDD024

Hole JUDD024 targeted 120 metres down-dip of a historical hole which returned up to 13.5g/t gold.

Best results include nine metres at 15.6g/t gold and 1.5 per cent copper from 100 metres including six metres at 21.6g/t gold and two per cent copper from 101 metres.

JUDD025

Hole JUDD025 was drilled to confirm the continuation of the Dona Maria ore shoot at depth and it confirmed that mineralisation extends at least 130 metres below the current resource.

It returned a best result of 3.4 metres at 10.1g/t gold from 392 metres including 0.5 metres at 71.9g/t gold from 394.5 metres.

JUDD026

This hole was drilled to test for gold-rich copper mineralisation, down-dip from JUDD010.

While it did intersect several breccia bodies, no significant gold or copper was intersected with results peaking at 0.2g/t gold and 0.12 per cent copper.

JUDD027

Hole JUDD027 tested a high-grade shoot at Dona Maria and intersected at least four thin phengite intervals.

"The first results from the 2020 drilling have provided Meteoric with confirmation that the Dona Maria high-grade zone does indeed continue down dip and the intercept of 3.4 metres at 10g/t gold in hole JUDD0025 is over 100 metres below the base of the currently modelled mineral resource," Managing Director Andrew Tunks said.

"This is a great start to the 2020 drilling as obviously the 2020 drilling will have a large impact when the resource is re-estimated on completion of this program," he added.

Meteoric is down 6.25 per cent and shares are trading for 4.5 cents each at 3:47 pm AEST.


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