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Meteoric Resources hits more bonanza gold grades at Juruena project in Brazil

Drill rigs have moved from Dona Maria to the Tomate and Querosene prospects with two holes completed to date.

Meteoric Resources NL - Meteoric Resources hits more bonanza gold grades at Juruena project in Brazil
Maiden drilling began at the Novo Astro project in the first week of October

Meteoric Resources NL (ASX:MEI) continues to deliver bonanza grade drill results from the Juruena Gold Project in Brazil with the latest assays returning up to 14 metres at 81.7 g/t gold, including 2.5 metres at 287.4 g/t.

As well as returning “significant” results, maiden drilling at the 100%-owned project has extended the high-grade core of mineralisation outside the indicated portion of the Dona Maria mineral resource.

Bonanza grades

The 14-metre intersection in Hole JUDD008 was from 142 metres while the 2.5-metre section was from 149 metres.

Another highlight from Dona Maria was 3.5 metres at 15.3 g/t from 124 metres including 1-metre at 51.9 g/t also from 124 metres in Hole JUDD007.

The company is also progressing well with its first drilling program at the Novo Astro project, 30 kilometres southeast of Juruena.

“Very exciting indeed”

Managing director Andrew Tunks said, “We knew with the visible gold detected in Hole JUDD008 that the results would be very exciting indeed, but we are thrilled to report more significant intercepts such as 14 metres at 81 g/t gold in JUDD008 and 3.5 metres at 15.3 g/t in JUDD007.

“To date the initial drilling at Dona Maria has been a great success and has given us the confidence to model a potential high-grade ore shoot that we will test in a final deep hole at the end of the program.”

Thirteen diamond holes have been completed across the program, with JUDD009 to JUDD013 being processed and results are expected to be available in early November.

Eleven holes completed

Eleven of these holes for a total of 1,912 metres have been completed at Dona Maria.

Geology map of Juruena highlighting the main intrusive and volcanic units and major prospects.

The JUDD008 intercept is 30 metres south and about 40m down-dip of JUDD001 which intersected

20.6 metres at 94.9 g/t from 96.8 m including 3.65 metres at 508.4 g/t from 107.5 metres.

The success of JUDD008 will lead to further testing of this sub-vertically plunging ore shoot at depth towards the end of the program.

Tunks said, “At Juruena we are now moving our attention to the Tomate and Querosene prospects where we intend to drill a further 10 holes testing some high-grade areas both inside and outside the known resources.”

Two holes at these prospects have been completed to date.

a) Coarse granite with Tellurides + pyrite associated with fault striations (depth 150.4m); b) Coarse granite with strong phengitic alteration (depth 150.4m); c) Classic phengitic alteration with tellurides (depth 151.1m ) d) Dolerite dyke with fine disseminated pyrite and rare chalcopyrite.

Together with Juruena, Novo Astro comprises the most prospective cluster of targets within Meteoric’s extensive Brazilian portfolio.

Previous mining at Juruena and Novo Astro identified and exploited alluvial and primary mineralisation.

Artisanal mining across both sites began at the end of the 1960s and was responsible for the manual production of approximately 1 million ounces of gold.

Novo Astro drilling begins

Novo Astro has only been explored by surface exploration and there has never been any drilling to test the gold grade and depth extent of the surface alteration and mineralisation that has been mapped.

Meteoric recently collected high-grade rock chips up to 290 g/t.

Tunks said, “I am also excited to report that drilling has now commenced at Novo Astro with the first hole collared into the José prospect on October 2 and expected to be completed by the 15th.

“A more fulsome update will be provided once the core is geologically logged.”

At present, a single rig is on site working on double shifts.

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