logo-loader
Meteoric Resources NL

Meteoric Resources identifies drill targets under historical workings at Novo Astro Project

Sampling program underway with the first batch of 36 samples already dispatched to the lab with results due in mid‐August.

Pyrite altered and partially oxidised granitic sample from Novo Astro Project
Pyrite altered and partially oxidised granitic sample from Novo Astro Project

Meteoric Resources NL (ASX:MEI) has commenced the initial work program at the Novo Astro Project, about 30 kilometres to the east of its Juruena Gold Project in Brazil.

Novo Astro is a large area (in excess of 15 square kilometres) that contains many ‘Garimpiero Workings’ from the 1980s, several of which are still actively being mined.

Despite a large soil anomaly and previous grab sampling returning grades up to 264 g/t gold, Novo Astro has never been drilled.

A new geological interpretation that includes mapped alteration zones that are potentially prospective for gold

Meteoric managing director Andrew Tunks said, “The Novo Astro Project demonstrates the potential to be a stand‐ alone gold field that could deliver real value to the company.

“We have only just begun our work here and already we have identified walk up drill targets to test. 

“When we commenced our initial program at Juruena, we already had in mind the possibility of testing the Novo Astro drilling in tandem, this was a key component in our decision to order two rigs from Geosol.

 

“It’s a fantastic result for the company that our initial Novo Astro work has been so positive that we can commit to drilling on both of our key Brazilian Projects in our maiden drill program.

“Contained within Novo Astro are a multitude of historic workings, some of these pits exploit the modern river systems and are therefore alluvial in nature and not of interest to us.

Aerial shot of Novo Astro Village highlighting the two types of mineralisation found in the area

“However, there are many open pits that have previously mined gold from the bed rock and our recent field work has shown us thick zones up to 50m of intensely brecciated and veined rocks with substantial alteration zones.

“Despite the fact the rocks are partially weathered, abundant sulfides (dominantly pyrite) can be found.

“We know from Juruena that the gold is closely related to the presence of pyrite and we know from previous sampling and the extensive mining that these zones are clearly gold bearing.

Fresh granite cut by quartz veins with accompanying coarse‐grained pyrite

“Our first batch of 36 samples from Novo Astro have been dispatched to the lab and we should have results within weeks.

“Of course, this is all happening simultaneously with the Juruena drilling program, which has already kicked off at the first targets at the high‐grade Dona Maria prospect.

Meteoric Senior Geologist Marcelo Gomez examining core from the Juruena drilling program

Quick facts: Meteoric Resources NL

Price: $0.04

Market: ASX
Market Cap: $37.34 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Meteoric Resources NL named herein, including the promotion by the Company of Meteoric Resources NL in any Content on the Site, the Company...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Meteoric Resources starts drilling with first of two diamond rigs on site at...

Meteoric Resources Ltd (ASX:MEI) managing director Andrew Tunks updates Proactive Investors on the start of drilling at Juruena Gold Project in Brazil. The first of two diamond drill rigs is on site, with drilling to start immediately targeting the Dona Maria prospect. A second drill rig...

4 weeks, 2 days ago

3 min read