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Meteoric Resources survey identifies 18 cobalt targets in Canada

15 of the targets are at Mulligan East and 3 are at Iron Mask, sampling is the next step.

cobalt periodic table symbol
Elsewhere at the Joyce Project, an 8-hole drill program has received permits

Meteoric Resources NL (ASX:MEI) has identified 18 cobalt targets areas from an airborne electromagnetic survey at its Mulligan East and Iron Mark Projects in Canada.

In addition, 3D modelling at the projects has interpreted the prospective cobalt and polymetallic mineralisation targets to be near-surface.

All targets areas are to be followed up with tightly spaced geochemical sampling and ground-based geophysics.

15 targets at East Mulligan

3 targets at Iron Mask

READ: Meteoric Resources defines 11 new cobalt targets in Ontario, Canada

Meteoric’s managing director Andrew Tunks said: “These latest results from Mulligan East and Iron Mask complement our recently released airborne geophysics results at Beauchamp and we have now generated 29 new cobalt and polymetallic mineralisation target areas across our three largest projects in Ontario.

“We have a great portfolio of cobalt focussed projects and the team is systematically working through the process of active on-ground exploration.

Permit for Joyce project received, drilling to commence early 2019

“We are also pleased to advise we have received the environmental approval from MNDM for the Joyce Project and as such, are looking forward to commencing the drilling as soon as we can get a rig to site.”

Joyce is a high priority target for Meteoric based on the recognition of broad zones of massive and disseminated sulphides exposed at surface.

An initial 8-hole drill program for 500 metres has been planned to intersect target zones immediately below massive sulphide outcrops and within the recently remodelled EM conductivity targets.

Historical high-grade assays from grab sampling of 11.0% copper, 0.3% cobalt and 8.07 g/t gold confirm the potential of this system.

Quick facts: Meteoric Resources NL

Price: 0.027 AUD

Market: ASX
Market Cap: $30.3 m

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