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Meteoric Resources discovers new kimberlite field in Western Australia

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Meteoric Resources (ASX:MEI) and its joint venture partner GeoCrystal have discovered a large kimberlite field, potentially extending up to 400 square kilometres, in the Gibson desert in Western Australia. 

A first pass aircore drilling program which commenced in June was aimed at testing selected aeromagnetic ‘bullseye’ anomalies located within Meteoric’s Webb Diamond joint venture tenements.

Seven targets, each with a single vertical drill hole for a total of 543 metres were drilled, with five of the holes intersecting weathered olivine-bearing ultramafic volcanic rocks. The company had identified 80 magnetic targets.

Mineralogical testing of the drill samples also confirm the presence of chrome diopside, pyrope garnet and chromite diamond indicator minerals.

The joint venture has since increased its tenement holdings to 1000 square kilometres from 500 square kilometres to cover other potential kimberlite targets.

Further drilling is being planned to test a selected number of the remaining untested magnetic targets, with the drilling program likely to resume in the September quarter.
 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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