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Meteoric Resources to drill diamond targets at Webb field in in Gibson Desert

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Meteoric Resources, (ASX:MEI) with joint venture partner GeoCrystal have recommenced aircore drilling to test further targets within the newly discovered kimberlite field at Webb in Western Australia.

In August, drilling had intersected kimberlitic rocks confirming potential for a large 400sq km kimberlite field in Meteoric’s Webb Diamond JV tenements, located in the West Arunta region of the Gibson Desert in Western Australia.

Tellingly, in June, field-work honed in on aeromagnetic ‘bullseye’ anomalies that discovered kimberlite pipes.

Kimberlite Pipes background

Diamond-bearing kimberlites are volcanic rocks that originate deep in the Earth and are erupted onto the surface.

Most known kimberlites formed in the period between 70 and 150 million years ago, but some are over 1200 million years old.

Kimberlitic magmas form about 150 km below Earth's surface, i.e. at much greater depths than any other volcanic rocks. The temperatures and pressures at such depths are so high that carbon can crystallize in the form of diamonds.

Program at Webb


The current drilling program at Webb will drill test an additional 15 to 20 of the 80 magnetic anomalies defined at Webb, with samples collected from those identified as a kimberlite intrusions and analysed for indicator minerals and microdiamonds.

Meteoric and GeoCrystal will also undertake a regional surface sampling program.

Initial first pass drilling in June tested selected aeromagnetic ‘bullseye’ anomalies resulting in the discovery of kimberlite pipes.

Interestingly, Chalice Gold Mines (ASX:CHN) has recently become a substantial shareholder for GeoCrystal, acquiring a 10% stake.

A total of 1,500 to 3,000 metres will be drilled at the project, expected to be completed in 3 weeks.

 

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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