logo-loader
viewMeteoric Resources NL

Meteoric Resources to start drilling at Butchers Creek, Palm Springs Gold Project in early August

Understanding structural controls on gold mineralisation are key to unlocking Palm Springs’ true potential and work has started to generate regional targets for stage-2 drilling.

Meteoric Resources NL - Meteroric Resources to kick off drilling at Butchers Creek, Palm Springs Gold Project in WA in early August
Existing infrastructure at the Palm Springs project in WA's Kimberley region

Meteoric Resources NL (ASX:MEI) (FRA:RNF) is set to start stage-1 drilling early next month at Butchers Creek within the Palm Springs Gold Project, 30 kilometres southeast of Halls Creek in the Kimberley region of Western Australia.

The 6,500-metre program will consist of reverse circulation (RC) and diamond drilling and is designed to confirm and extend the known high‐grade gold mineralisation associated with the plunging anticline to the south of the existing Butchers Creek open pit.

Potential for extensions

Field investigations confirm significant potential for near-mine extensions to high‐grade gold mineralisation at depth and along strike at the former Butchers Creek open-pit mine.

Understanding structural controls on gold mineralisation is the key to unlocking Palm Springs’ true potential and work has started to generate regional targets for stage-2 drilling.

Managing director Dr Andrew Tunks said: “Starting exploration in Australia for the first time in several years has been an exciting journey for MEI.

"Already, we have secured key staff to run the exploration at the Palm Springs project and I am delighted to welcome Tony Cormack back to the team.

“In preparation for our first drilling program, we have constructed a model for gold mineralisation in the southern end of the deposit and really like what we are seeing. 

"The data paints a very clear picture, with high‐grade gold mineralisation sitting in the existing pit floor and the southern extension of the ore body is virtually untested.

“Our stage-1 drill program will focus on identifying potential extensions to high‐grade gold mineralisation beneath the Butchers Creek open pit to the south and at depth where previous limited drilling intercepted 73 metres at 2.26 g/t gold from 169 metres (BCRC334) and 36 metres at 2.5 g/t from 168 metres (BCD336).”

Butchers Creek

The high‐grade gold mineralisation at Butchers Creek open pit is confined to a tight, slightly overturned anticlinal fold hinge within a volcanic trachyte unit. 

Mining of the Butchers Creek open pit was only completed to the first stage of a two‐stage pit design. 

Significant volumes of high‐grade gold sit at the bottom of the stage-1 pit floor, providing ready access to high‐grade ore upon any potential mine start‐up. 

This unmined ore forms a priority target for Meteoric’s stage-1 drilling. 

The drilling will begin on the cross-section containing the single drill hole BCRC334 and define the geometry of the anticline as well as confirm mineralisation. 

Drilling will then systematically track the mineralised anticline on 40-metre sections moving south away from the existing open pit.

It will then focus on confirmation of the high-grade intercepts directly below the existing open pit before then testing for extensions of gold mineralisation at depth. 

The final phase of the stage-1 program will shift focus to a multitude of high-priority regional targets already identified this field season.

Quick facts: Meteoric Resources NL

Price: 0.0555 AUD

ASX:MEI
Market: ASX
Market Cap: $68.34 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,...

on 15/6/20

2 min read