Meteoric Resources (ASX: MEI) has hit a 200m wide zone of disseminated sulphides while drilling a “significant anomaly” at the Juruena project in Brazil.
The company is drilling JUDD043, which is a deep diamond hole to test an anomaly identified in a deep induced polarisation survey late last year.
Meteoric’s theory is the anomaly may host copper mineralisation.
Managing director Dr Andrew Tunks said the first deep hole JUDD042 had to stop due to issues with a drill rig.
Meanwhile, JUDD043 had begun while the company awaited additional drill equipment.
“The plan was to go back to JUDD042 as soon as the 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 200m thick and still growing,” Dr Tunks explained.
“This zone of alteration and sulphides is centred on two intermediate porphyry intrusives.”
Dr Tunks noted the zone had been hit “much earlier than anticipated” in an area that has had 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,” he added.
While Meteoric is investigating the copper potential at Juruena, the project’s prospectivity for gold has already been identified.
Last week, the company unveiled a substantial increase to the project’s gold resource, with 40% classified as indicated.
The resource comprises three adjacent gold deposits (Dona Maria, Querosene and Crentes) and now totals 1.9 million tonnes at 6.3 grams per tonne gold for 387,000 ounces of contained metal.
Dona Maria contributes the majority of the resource with 693,000t at 9g/t gold for 200,000oz, while Querosene accounts for 285,000t at 13.9g/t gold for 127,000oz.
Crentes makes up the remaining 55,100oz at 2g/t.
The three deposits remain open at depth.