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Meteoric Resources in trading halt pending news of "significant" assay results

The company’s securities will remain in trading halt until the beginning of trade on October 15, or when an announcement is released.

Meteoric Resources NL - Meteoric Resources in trading halt ahead of assay results
The Novo Astro project comprises the most prospective cluster of targets within Meteoric’s Brazilian portfolio

Meteoric Resources NL (ASX:MEI) has been granted a trading halt by the ASX ahead of what it says are ‘significant’ assay results.

The trading halt will extend until the beginning of trade on Tuesday, October 15, or when an announcement is made to the market, whichever occurs earliest.

Securities last traded at 6.4 cents, up from 5.2 cents earlier this month.

New diamond hole drilling program

The company announced last week that it would begin diamond drilling at its Novo Astro Gold Project in Mato Grosso, Brazil, with the GEOSOL diamond drill rig and crew having arrived on-site.

The 2,500-metre program will focus on four primary targets selected based on geological mapping, artisanal workings, soil geochemistry and grab sampling.

Further planned work as part of this program includes geophysics programs incorporating magnetotellurics, either a ground-magnetic or drone-magnetic survey as well as further investigation of downhole electromagnetics.

Quick facts: Meteoric Resources NL

Price: 0.061 AUD

Market: ASX
Market Cap: $60.19 m

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