The program, which consists of 26 holes for 4,700 metres is set to begin in July with the drill rig and equipment anticipated to arrive shortly.
Meteoric Resources managing director Andrew Tunks said: “Since the formal completion of the acquisition of Juruena and Novo Astro was completed in May we have been working hard to commence exploration.
“The initial drill program will be weighted towards following up bonanza grade intersections at Dona Maria and Querosene but will also test additional nearby targets at Mauru, Tomate and Uilliam which also contain multiple exciting gold grade intersections from limited drilling.
“This is a very exciting for our staff and our shareholders.
“I am pleased to report that Juruena is even more exciting than I anticipated, and the team has produced a quality drill program with excellent targets for our maiden exploration.”
The Juruena project’s current global mineral resource estimate of 1.3 million tonnes for 261,000 ounces of gold at 6.3 g/t comprises:
- The high-grade Dona Maria and Querosene resources of 436,000 ounces at 14.7 g/t for 205,000 ounces of gold; and
- The large tonnage, lower-grade Crentes resource with 846,000 tonnes at 2 g/t for 55,000 ounces of gold.
The company’s targets will be refined as drilling progresses considering a combination of visual logging of the drill cores and assay results from the laboratory.