viewMeteoric Resources NL

Meteoric Resources intersects shallow 200-metre thick zone of disseminated sulphides at Juruena in Brazil, shares up

Initial core samples have been submitted for assay and results are expected in about six weeks.

Meteoric Resources NL -
Drill hole JUDD043 at a depth of 175 metres showing early quartz, molybdenite and chalcopyrite veins

Meteoric Resources NL (ASX:MEI) (FRA:RNF) is trading higher after intersecting a shallow, 200-metre thick zone of disseminated sulphides in diamond drilling at the Juruena Copper-Gold Project in Brazil.

Drilling is designed to test what the company believes to be ‘a giant’ IP chargeability anomaly, detected in late 2020.

Investors have responded positively, pushing shares almost 15% higher to A$0.054.

“Exciting opportunity”

Speaking to the current drilling program, managing director Dr Andrew Tunks said: “Exploration is a funny game!

“We had to stop our first deep copper hole, JUDD042, due to issues with the drill rig and decided to commence JUDD043 while awaiting additional drilling equipment.

“The plan is to go back to JUDD042 as soon as equipment arrived.

“However, we will now not be doing that until the current hole finishes because JUDD043 has intersected a significant zone of disseminated molybdenite and copper sulphides over 200 metres thick and still growing.

“Importantly we have intercepted this potential mineralisation much earlier than anticipated in an area where there is virtually no historic drilling.

“The intensity of the alteration and high-temperature mineral assemblages combined with the sulphide minerals suggest we are significantly closer or within the magmatic hydrothermal system and we are already planning additional holes to test this exciting opportunity.”

Drilling results

As well as multiple zones of sulphides, JUDD043 also intersected important porphyry indicator minerals such as molybdenite, chalcopyrite and bornite with traces of chalcocite and covellite.

A 50-metre-thick zone of intense alteration with disseminated copper sulphides composing up to 10% of the rock mass (187-240 metres) is related to two intermediate porphyritic intrusives.

A distal zone of molybdenite and pyrite with zones chalcopyrite has been recorded in veins and disseminations from 110 metres to 350 metres (zone of over 200 metres thickness) around the porphyry intrusives.

Drillhole JUDD043 is currently logged to 350 metres depth and is planned to intercept the Juruena Fault at approximately 470 metres and then push on to test a large IP chargeability anomaly beneath the fault.

Initial core samples have been submitted for assay and results are expected in around six weeks.

Quick facts: Meteoric Resources NL


Price: 0.029 AUD

Market Cap: $38.78 m

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events


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 named herein, including the promotion by the Company of in any Content on the Site, the Company receives from said issuer annual cash...


Meteoric Resources assessing open pit and underground development scenarios...

Meteoric Resources NL (ASX:MEI)'s Andrew Tunks speaks to Proactive's Andrew Scott soon after receiving encouraging gold results in the maiden batch of assays from its 2021 drilling at the Butchers Creek deposit, which forms part of the Palm Springs Gold Project in Western Australia. He says the...

19 hours, 46 minutes ago

2 min read