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Meteoric Resources confirms thick, robust zones of mineralisation extends further south at Palm Springs Gold Project

The company is undertaking a 4,000 metre drill program comprising seven RC pre-collars with diamond tails and one diamond tail as re-entry of BCRC482 from the 2020 drill campaign.

Meteoric Resources NL -
Initial assay results are due late August

Meteoric Resources NL (ASX:MEI) has completed five of the eight planned drill holes at its Palm Springs Gold project in Western Australia, confirming that thick, robust zones of mineralisation extends further south.

The company’s strategy of targeting anticlinal hinge zones has resulted in immediate success with visible gold (VG) observed at three intervals in BCRD484 within a 79-metre intersection of strongly veined and altered gold hosting syenite.

Drillhole BCRD 490 has intersected a similar hinge zone with strong alteration of the target syenite at the anticlinal closure and over 80 metres of syenite intersected.

Three further diamond holes are to be completed in August, each targeting untested anticlinal hinges identified by the 2020 drilling, targeting similar structural positions that resulted in BCRD 467 intersecting 69 metres at 4.38 g/t gold in 2020. 

In addition, holes BCRD489 and 490, south of the 2020 mineral resource estimate (MRE), intersected thick downhole intervals of host syenite 80 metres south of Butchers Creek Resource, confirming the orebody extends and remains open to the southwest

Opportunity to make discoveries

Meteoric managing director Dr Andrew Tunks said: “We learnt a great deal about Palm Springs from last year’s highly successful maiden drill program - that gold mineralisation is stratabound within a single thick syenite unit and that the highest grade and thickest parts of the orebody occur within the hinge zone of a regional scale anticlinal fold hinge forming a robust high-grade zone that plunges shallowly southeast.

“Our 2021 drilling program was designed to further improve our confidence in the spatial distribution of the high-grade zone and further extend this zone down plunge to potentially grow the current gold resource inventory.

“Finally, kudos to the site team who have worked diligently since the acquisition of the project, building relationships with the Traditional Owners and their representatives to facilitate the requisite Heritage approvals to begin exploring the exploration leases surrounding the Butchers Creek mining licenses.

“We firmly believe that there is real opportunity for us to make further significant discoveries at Palm Springs in these areas.”

Palm Springs 2021 drilling

Meteoric is undertaking a 4,000-metre drill program comprising seven reverse circulation (RC) pre-collars with diamond tails and one diamond tail as re-entry of BCRC482 from the 2020 drill campaign.

Five diamond tails have been completed with assays due later this month, with RC pre-collars completed for the balance of the drill holes and diamond tails to be completed this month.

The drilling campaign at Palm Springs is designed to increase confidence in the current mineral resource estimate MRE (5.2 million tonnes at 1.9g/t gold [319,000 ounces]) and extend the resource 200 metres down plunge to the south-west.

Heritage impact assessment meeting

The company attended a successful meeting in Halls Creek on July 12 with a representative from the Kimberley Land Council and members of the Koongie-Elvire (Traditional Owners).

Meteoric presented its proposed 2021-2022 exploration programs on the exploration tenements surrounding the Butchers Creek mining licenses to the group.

The company received approval to commence work on activities not related to any ground disturbance, including mapping and rock chipping, an aerial survey and several ground IP surveys and a heritage survey to review proposed drilling sites is planned for the coming months.

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