Geological mapping has confirmed for Meteoric Resources (ASX: MEI) favourable conditions for what the company said is the formation of direct shipping ore hematite-goethite.
The survey outlined 4.5 kilometres of drilling targets, with a 3000 metre reverse circulation campaign to test high grade outcrops next week.
The drilling will be targeted both on areas of outcropping high grade hematite-goethite and on gravity anomalies where the bedrock is obscured by banded iron formation rubble or laterite cover.
Surface sampling obtained grades up to 35 metres at 58.9% iron, along with plus 50% iron for grades to the south along strike where, detailed mapping has yet to be completed.