logo-loader
viewMeteoric Resources NL

Meteoric Resources receives first assay batch from Novo Astro

Assay results have been received for the first three holes of its 12-hole program with more expected over the coming weeks and months.

Meteoric Resources NL - Meteoric Resources receives first assay batch from Novo Astro
Drilling at both the Novo Astro and Juruena Projects will be completed this week

Meteoric Resources NL (ASX:MEI) has received assay results for the first three holes in its maiden program at the Novo Astro Gold Project in Brazil.

Twelve drill holes have now completed with two more in progress to complete the initial 2,500-metres Novo Astro 2019 diamond drilling program.

Highlights included 13 metres at 0.34 g/t gold from 46 metres with grades reaching up to 0.5 metres at 38.8 g/t gold.

Of the 12 holes, four holes were drilled at the José Prospect, seven Matteus Prospect and three holes at the Graça Prospect.

This first batch of results is for holes NADD001‐003.

Gold continues beneath Garimpeiro pits

Meteoric’s managing director Andrew Tunks said: “Results through from the first ever drilling at Novo Astro on the José Prospect has provided confirmation that gold mineralisation continues beneath the Garimpeiro open pits and that gold is associated with both veining and pyrite alteration of the granitic host rocks.

“Our very first drill hole intersected 0.5 metres at 38.8 g/t gold from 72.3 metres confirming the depth continuity of a high‐grade mineralised vein below the Jose Pit.

“This is a crucial observation as it is the first confirmation that gold exists in the primary rocks below the artisanal open pits in the oxide.

Results still to come from Graça and Matteus

“At the Graça and Matteus Prospects, where we are currently awaiting results, we have seen stronger alteration and veining than witnessed at José.

“On the ground there is an expectation of significant gold intercepts at Matteus and Graça, where more intense shearing, alteration and higher sulphide contents have been observed.

“We anticipate receiving the next batch of results from Novo Astro in January 2020 as well as further results from Juruena.

More drilling planned in March quarter

“The Meteoric Exploration Team have completed an excellent first field season in Brazil which has seen the company evaluate, acquire and commence exploration which included over 6,000 metres of diamond drilling and intersection of significant gold mineralisation.

“As we continue to grow our knowledge of these exciting projects, we are confident of continued success in our 2020 campaign which is currently in planning stage and will commence in Q1, as soon as the tropical rain allows access.”

Quick facts: Meteoric Resources NL

Price: 0.04 AUD

ASX:MEI
Market: ASX
Market Cap: $49.25 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' Andrew Tunks looks ahead to drill program at new Palm...

Meteoric Resources NL (ASX:MEI) (FRA:RNF) managing director Dr Andrew Tunks caught up with Proactive's Andrew Scott following the news they're to acquire the past-producing Palm Springs project in WA’s Kimberley region. Palm Springs is an advanced exploration play with past production,...

2 weeks, 6 days ago

3 min read