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Meteoric Resources to discuss new gold acquisitions at Proactive’s CEO Sessions

Historical drilling results at the acquired projects include bonanza grade gold intersections of 1-metre at 1,992 g/t gold.

Meteoric Resources NL - Meteoric Resources to discuss new gold acquisitions at Proactive’s CEO Sessions
The company’s maiden drill program is underway

Meteoric Resources NL (ASX:MEI) is focused on the Juruena and Novo Astro Gold Projects in Brazil which it acquired in late May 2019.

The company wasted no time in ramping up exploration as it commenced a maiden drill program in July 2019 comprising 26 holes for 4,700 metres using Brazil’s largest drilling contractor.

Impressively, drilling will be following up historical intersections of 10 metres at 101.1 g/t gold from 127 metres and 3.6 metres at 554.3 g/t gold from 147 metres.

Funding recently secured to expand drilling

Earlier this week, Meteoric raised $2.7 million through the placement of shares to strategic investors priced at 3.2 cents each.

These valuable funds will be used to accelerate exploration at Juruena and Novo Astro including enabling two exploration teams to be working concurrently on both projects.

On 12 August 2019, Meteoric's managing director Andrew Tunks said: "Recent exploration at the Juruena and Novo Astro prospects has increased the company’s confidence in the discovery potential of Meteoric’s Brazilian assets.

"Over the last few weeks, diamond drilling at Juruena commenced and two rigs are currently onsite drilling double shifts at Dona Maria (Juruena)."

Tolga Kumova and MD increase stakes

Back in late May 2019, well-known resources investor Tolga Kumova, increased his shareholding in the company.

Kumova purchased 18 million shares at 1 cent to increase his overall holding to 88.97 million shares for a 10.61% voting interest.

He is a self-made mining entrepreneur featured on the Young Rich List but isn’t the only one increasing their stake.

Kumova’s purchase followed managing director Dr Andrew Tunks' purchase of 625,000 shares in the company - Tunks will be presenting at Proactive’ CEO Sessions.

Other companies presenting at the Sydney and Melbourne events are White Rock Minerals Ltd (ASX:WRM), Minotaur Exploration Ltd (ASX:MEP), and Golden Deeps Ltd (ASX:GED).

 

Register for the CEO Sessions today

Sydney details, Monday, August 26, 2019

Melbourne details, Tuesday, August 27, 2019

Quick facts: Meteoric Resources NL

Price: 0.06 AUD

ASX:MEI
Market: ASX
Market Cap: $59.2 m
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Full interview: Meteoric Resources hits more bonanza-grade gold at Juruena...

Meteoric Resources NL (ASX:MEI) managing director Andrew Tunks updates Proactive on more "thrilling" bonanza-grade drill results from the Juruena Gold Project in Brazil, following similar earlier results from the maiden drill program. Latest assays have returned up to 14 metres at 81.7 g/t...

1 hour, 45 minutes ago

2 min read