Sign up Australia
Proactive Investors - Run By Investors For Investors
Why invest in MEI?
Meteoric Resources Ltd: THE INVESTMENT CASE

Meteoric Resources developing Canadian cobalt portfolio

A historical 8-tonne bulk sample from the Mulligan project averaged 10% cobalt grade.
map showing Cobalt belt in East Ontario with projects marked
The six projects in East Ontario are within the Ontario Cobalt Belt

Meteoric Resources Ltd (ASX:MEI) has a portfolio of seven cobalt projects located in the Canadian state of Ontario.

During the June quarter of 2018, the company commenced its target generation exploration program across its Ontario cobalt portfolio.

READ: Meteoric Resources completes maiden drilling at cobalt project

During August 2018, Meteoric completed 11 diamond holes for 970 metres at its 100% owned Mulligan Cobalt Project in Ontario, Canada.

Positively, multiple holes intersected the targeted fault structures and mineralised veins.

Assay results due late September

Meteoric’s managing director Dr Andrew Tunks said: “Meteoric’s maiden drilling program at Mulligan of 11 holes has now been safely completed.

“Our drilling contractors G4 Forage were outstanding, and along with fantastic field support from Orix Geoscience, the program has been completed ahead of schedule.

“Tony is currently travelling to site to conduct logging of the core, conduct sampling and generate a 3D model for Mulligan and plan for follow-up drilling.”

READ: Meteoric Resources has high hopes that survey will generate targets at Canadian cobalt projects

Earlier in August 2018, Meteoric commenced preparations to carry out an airborne survey over its three largest cobalt projects with the aim of generating drilling targets.

A 714 line-kilometre helicopter-borne Versatile Time Domain Electro Magnetic (VTEM) survey was to be flown over the Iron Mask, Mulligan East and Beauchamp projects.

Tunks added: “With results from the drilling eagerly awaited along with our extensive airborne program commencing across multiple projects and drilling planned for Burt, Lorrain and Joyce, we certainly have a lot ahead of us and have demonstrated that we have the right team in place to execute.”

Three cobalt projects acquired in June quarter

During the June quarter, Meteoric's Canadian cobalt portfolio strengthened with three further acquisitions.

These were the Beauchamp and Lorrain projects in East Ontario and Joyce River Project in West Ontario.

East Ontario known for cobalt and silver production

Meteoric’s six projects in East Ontario have the potential for high-grade cobalt mineralisation in areas historically known for silver and cobalt production.

The remaining project in West Ontario, Joyce River, is targeting high-grade cobalt-copper-gold mineralisation.

View full MEI profile View Profile

Meteoric Resources Ltd Timeline

Related Articles

September 06 2018
Kogi's plans to become an integrated steel producer will allow it to tap into a ready market
Maxtech’s high-grade pure-play manganese offering is one of a kind in a potentially very lucrative m
March 20 2018
Maxtech offers a unique opportunity to gain direct exposure to manganese
The board of Carube boasts several decades of copper exploration and development experience between them

No investment advice

The information on this Site is of a general nature only. It does not take your specific needs or circumstances into consideration, so you should look at your own financial position, objectives and requirements and seek financial advice before making any financial decisions. You acknowledge and understand that neither the Company, its related bodies corporate, the information providers or their affiliates will advise you personally about the nature, potential value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter. You should read our FSG and any other relevant disclosure documents and if necessary seek persona advice prior to making any investment decision.

You understand and agree that no Content (as defined below) published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person.

You understand that in certain circumstances the Company, its related bodies corporate, the information providers or their affiliates may have received, or be entitled to receive, financial or other consideration in connection with promoting, and providing information about, certain entities on the Site and in communications otherwise provided to you.

You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate. From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Before you act on any general advice we provide, please consider whether it is appropriate for your personal circumstances.

© Proactive Investors 2018

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use