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Meteoric Resources begins diamond drilling program at Joyce in Canada

Drilling has been designed to intersect target zones below massive sulphide outcrops within re-modelled EM conductivity targets.

Joyce project is in the west of Ontario in the UCHI Greenstone Belt

Meteoric Resources NL (ASX:MEI) has started drilling at its Joyce Copper-Cobalt-Gold Project in western Ontario, Canada.

The eight-hole drill program for 500 metres begun after the drilling rig was mobilised to site last week.

Meteoric Resources managing director Andrew Tunks said: “It’s great to kick off the new-year with drilling so early in January.

“Statutory approvals were received late in December and we were able to mobilise the rig to site and test our high priority Joyce target.”


Results expected in coming weeks

Tunks said: “Drilling is being carried out by Chibougamau Diamond Drilling company under the supervision of our partners Orix Geoscience.

“We look forward to reporting results to shareholders in the coming weeks as the program is completed and assay results are received.”

Historical high-grade assays

Historical high-grade assays include 11.0% copper, 0.3% cobalt and 8.07 g/t gold, which confirm the potential of the system.

READ: Meteoric Resources to drill high priority Joyce project

Joyce is Meteoric’s highest priority target based on thick sequences of undrilled massive and disseminated sulphides exposed at surface.

Tunks said previously: “Over recent months we have completed regional project reviews and concluded Joyce to be our most prospective target across our Canadian cobalt portfolio.

“This has been driven largely by Tony Cormack’s mapping of significant zones of massive sulphide exposed at surface and their close correlation to the major EM anomalies.

“Incredibly these targets have never been drilled.”

Eastern Ontario portfolio

The company has also built a portfolio of six projects in eastern Ontario including Mulligan and Mulligan East, Burt, Beauchamp, Iron Mask and Lorrain in the Cobalt Town region.

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

In December last year the company received results from a 374 line kilometre airborne versatile time domain electromagnetic survey (VTEM), which defined 11 targets at its Beauchamp project.

Tunks said: “Beauchamp has the right rock types combined with the right geological structures, including the regional scale Cross Lake fault zone, which is a key ingredient of the cobalt potential that exists at the project.”

READ: Meteoric Resources survey identifies 18 cobalt targets in Canada

The mineral explorer also identified 18 cobalt targets from an airborne electromagnetic (EM) survey at its Mulligan East and Iron Mask projects last year.

3D modelling confirmed that the prospective cobalt and polymetallic mineralisation targets were near surface.

- Jessica Cummins

Quick facts: Meteoric Resources NL

Price: 0.047 AUD

Market: ASX
Market Cap: $52.72 m

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