Source: Meteoric Resources
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Meteoric Resources (MEI) launches its field season at the Palm Springs gold project in Western Australia
  • The new program looks to build on progress made over the past two years, with particular focus on discovering additional mineralisation and expanding the existing mineral resource
  • The program will begin this week with an IP survey, targeting three orientation lines over the Butchers Creek and Golden Crown deposits
  • The survey will be followed by 2000 metres of reverse circulation drilling at Butchers North and Golden Crown
  • Meteoric Resources is trading flat at 1.3 cents at 10:30 am AEST

Meteoric Resources (MEI) has launched its new field season at the Palm Springs gold project in Western Australia.

The company’s exploration team have been mobilised to the project to begin work, following a mild wet season.

The new program will look to build on progress made over the past two years, with a particular focus on discovering additional mineralisation in structural repetitions of host units close to Butchers Creek, testing previously undrilled historical gold mineralisation, and expanding the existing mineral resource.  

The Palm Springs Project has a maiden JORC 2012 resource of 5.7 million tonnes at 1.94 grams of gold per tonne (g/t gold) for 355,000 ounces of gold, with over 40 per cent of the resource classified in the indicated category.

Previous drilling intercepts included eight metres at 10.4 g/t gold from 156 metres, including two metres at 34.4 g/t gold from 160 metres.

The program will begin this week with an IP survey, targeting three orientation lines over the Butchers Creek and Golden Crown deposits.

“We have made great progress in our exploration at Palm Springs since we acquired the project in 2020 with a significant maiden resource and some amazing drilling results,” Meteoric Resources Non-Executive Director Dr Andrew Tunks said.

“It is great to have crews back in the field with new targets to explore and to expand on our previous success. We are particularly looking forward to the results of the IP survey which should provide drill targets for later in the season.“

The IP survey will be followed up with 2000 metres of reverse circulation drilling at Butchers North and Golden Crown.

Meteoric Resources was trading flat at 1.3 cents at 10:30 am AEST.

MEI by the numbers
More From The Market Herald

" Empire Resources (ASX:ERL) records further multi-element mineralisation at Yuinmery, WA

Empire Resources (ASX:ERL) has intersected more multi-element mineralisation at its Yuinmery project in Western Australia.

" R3D Resources (ASX:R3D) to commence drilling in QLD this weekend

R3D Resources (ASX:R3D) is gearing up to commence a drilling program at key copper and zinc…
The Market Herald Video

" DDH1 (ASX:DDH) launches share-buy back

DDH1 (ASX:DDH) has launched an on-market share buy-back program of up to 10 per cent of…
The Market Herald Video

" Lithium Australia’s (ASX:LIT) Envirostream receives first cash rebate for B-cycle scheme

Lithium Australia's (ASX:LIT) subsidiary, Envirostream Australia has received its first cash rebate for the B-cycle scheme.