Meteoric Resources hits best copper-intercept at Juruena, extends known gold mineralisation

Meteoric Resources ASX MEI Juruena gold copper extension
Notable assays from Meteoric Resources’ latest drilling at Juruena include 9m at 15.6g/t gold and 1.5% copper from 100m.

With drilling underway at the Palm Springs project in Western Australia, Meteoric Resources’ (ASX: MEI) flagship high-grade Juruena gold project in Brazil has continued to impress with latest assays both extending known mineralisation and unveiling a new style.

Assays from the 2020 drilling season at the project have uncovered more high-grade gold at the Dona Maria deposit.

The 2020 program started in June, with eight holes completed for 2,503m.

Meteoric has now received assays from four holes.

Highlight results were 9m at 15.6 grams per tonne gold and 1.5% copper from 100m, including 6m at 21.6g/t gold and 2% copper from 101m; and 3.4m at 10.1g/t gold from 392m, including 0.5m at 71.9g/t gold from 394.5m.

Meteoric managing director Dr Andrew Tunks said the initial results confirm the high-grade zones at Dona Maria continue down dip.

He pointed out the 3.4m at 10.1g/t gold intercept was 100m below the base of the current resource.

“Equally exciting was the much shallower intercept of strong gold-copper grades associated with intense hydrothermal brecciation giving the best copper grades ever drilled on the project.”

He added the 9m at 15.6g/t gold and 1.5% copper “eclipses” the previous best copper result of 54.3m at 1.33g/t gold and 0.23% copper, which was revealed in November last year.

“Of huge interest to us is that the copper gold intercept [of 9m at 15.6g/t gold and 1.5% copper] is a whole new style of mineralisation never before noted at Juruena and thus opens up further exploration opportunities and we will continue to chase this emerging potential throughout the 2020 field season.”

Advancing Juruena

Meteoric plans to update resources at Juruena following the completion of the 2020 drilling program.

Global resources for the project currently total 1.282Mt at 6.3g/t gold for 260,900oz.

At the high-grade Dona Maria deposit, resources stand at 216,300t at 12.7g/t gold for 88,000oz of the precious metal.

Palm Springs

In addition to advancing Juruena, Meteoric has a diamond drill rig on the ground at its recently acquired Palm Springs project in WA’s Kimberley region.

The project hosts the historic Butchers Creek open pit gold mine which has produced 52,000oz gold at 2.1g/t.

Drilling at Palm Springs will target high-grade zones beneath the historic pit as well as to the south.

Previous drilling below the Butchers Creek pit returned 68m at 2.5g/t gold from 44m, 19m at 8.8g/t gold from 56m, and 50m at 3.31g/t gold from 50m.

Meanwhile, notable intercepts along strike south of the open pit were 73m at 2.3g/t gold, and 36m at 2.5g/t gold.

This program will comprise 23 holes for 5,000m of reverse circulation drilling and 1,500m of diamond drilling.

Meteoric anticipates assays from the program to begin flowing in by October.

Join Small Caps News

Get notified of the latest news, events and stock alerts