Meteoric Resources’ expectations exceeded with bonanza 508.4g/t gold interval at Juruena

Meteoric Resources (ASX: MEI) has unearthed a thick bonanza intersection during a maiden drilling program at its Juruena gold project in Brazil, which managing director Dr Andrew Tunks claims exceeded his expectations and is the best he has been involved with his entire career.

A 20.6m intersection grading 94.9g/t gold was taken from the Dona Maria prospect and included the 3.65m interval grading 508.4g/t gold.

A second diamond drill hole at Dona Maria returned 1.1m at 22.68g/t gold from 41.2m and 4.5m at 6.2g/t gold from 46.6m.

Dr Tunks said although the company had expected “something special” from the first drill holes at Juruena, today’s results had “exceeded” even his expectations.

“In fact, this is the best drilling intercept I have ever been involved with in my career.”

“While we were confident of the possibilities based on the historic drilling and the gold we observed, it is very reassuring to have assay numbers that support our interpretation,” he added.

Meteoric has now completed eight holes at Juruena to test some of the deeper targets beneath Dona Maria, which Dr Tunks has called “very exciting”.

“The geological logging, sample dispatch and assay procedures are flowing well ensuring a steady flow of drill results over the coming months.”

Juruena and Novo Astro gold projects

Meteoric shouldered into prime Brazilian gold territory in March this year when it agreed to acquire 100% of Juruena and Novo Astro, which cover a combined 770sq km in the region’s Alta Floresta Belt.

The belt is home already to major global miners Anglo American and Vale.

Previous exploration at Juruena has firmed up global resources of 1.3Mt at 6.3g/t gold for 261,000oz.

The project’s highest grade deposits include Dona Maria and Querosene which have a combined resource of 436,000t at 14.7g/t gold for 205,000oz of the precious metal.

Drilling by the project’s former owner uncovered up to 389g/t gold at Dona Maria, while Querosene returned a massive 1,992g/t interval.

Meanwhile, the less advanced Novo Astro project is 30km from Juruena and a similar style of mineralisation has been identified at this project.

Dr Tunks said the company had recognised the potential Novo Astro poses and a drilling program has been planned to kick off at the project later this month.

He added he was “extremely proud” of what the company and its exploration team has achieved since acquiring the projects earlier this year.