Drill hole JUDD022 targeted the southern high‐grade gold shoot at the Dona Maria deposit intersecting 4.4 metres at 13.5 g/t gold from 300 metres including 2 metres at 27.3 g/t gold from 302 metres.
Meteoric managing director Dr Andrew Tunks said: “This fantastic result from JUDD022 caps a remarkable maiden drilling campaign by Meteoric at Juruena which commenced with one of the best drill results in the World in 2019 of 20.6 metres at 94.9 g/t gold from 97 metres and was followed by some further stunning results during the campaign.
“To my mind, this final result is the best of the bunch as it confirms the high grade is open at depth, providing us with a host of immediate drill targets to substantially grow the Juruena resource.
“It really is only the beginning of the road for Juruena and I can’t wait to get the drill rigs turning again and see just how wide and deep the high grade mineralisation at Dona Maria extends.
“In technical terms, the results from JUDD022 confirm the interpreted continuity and steep southerly plunge of the southern high‐grade ore shoot at Dona Maria.
“JUDD022 intercepted the mineralised zone approximately 30 metres below the current Mineral Resource model and conclusively shows the mineralisation is still strong below that depth.
“We expect to commence drilling early in Q2, with the exact date dependent on the cessation of the current wet season.”
The latest round of results highlights the confirmation of a high‐grade ore shoot at Dona Maria and the potential for Tomate to provide additional ounces to the Juruena resource which currently stands at 1.2 million tonnes at 6.3 g/t gold for 261,000 ounces.
Meteoric will review the 2016 resource estimate at the conclusion of the 2020 drilling campaign.
Gold price in Brazilian Real graph
Tunks said: “Given the recent all time AUD and Brazilian Real highs we have witnessed in the gold price, with predictions of over USD2000 being forecast over the coming years, it is a fantastic time to be involved in a project like Juruena that not only contains an existing resource, but our year one drill program has highlighted the potential to further extend on this.
“The Meteoric team is thrilled to be working in gold exploration right now and we are all very excited to see what our year two drilling in Brazil may uncover.”