Drill hole JR-19-04 intersected 1.845% copper over 0.61 metres from 50.19 metres downhole.
The drilling program, the first ever drilling to be carried out at the Joyce Project, comprised four holes for a total of 492 metres and was completed in January 2019.
Drilling targeted historical trenching results containing values up to 0.3% cobalt, 11% copper and 8.07 g/t gold, in addition to coincident airborne electromagnetic (EM) and magnetic anomalies.
Meteoric managing director Dr Andrew Tunks said: “The maiden drill program at Joyce River was truly maiden, being the first ever drilling to be carried out at the project of the copper-cobalt occurrence which was originally discovered in 2007.
“The results from the drilling do not support the encouragement we received from surface sampling, particularly in relation to the gold and cobalt values which are low.
Multiple prospective cobalt projects
“Whilst this program tested only the western most geochemical and EM anomalies, additional coincident EM-magnetic anomalies located beneath thin cover in the east are anticipated to be the focus of future exploration programs.
“The company is continuing to progress its exploration programs at other prospective projects within the cobalt portfolio, namely Beauchamp, Iron Mask and Mulligan East, where the company has recently completed an extensive airborne geophysics program.”