Meteoric Resources (ASX: MEI) is about to kick-off drilling at its recently acquired Juruena gold project in Brazil, with the first diamond rig now on site.
The maiden program is expected to begin on Wednesday and will involve 26-holes for 4,700m and is scheduled to be completed in three months.
Drilling will start at the Dona Maria deposit where previous exploration uncovered 10m at 101.1g/t gold from 127m, including 2.4m at 389g/t gold and 8m at 62.4g/t gold from 100m, including 3m at 162g/t gold.
“With the rigs arriving on site at Juruena, our own exploration ideas can now be tested,” Meteoric managing director Dr Andrew Tunks said.
“The team has completely rebuilt the 3D model for the major prospects at Juruena and used that to guide this phase of drilling.”
He added the team has firmed up targets across Dona Maria, Querosene and Crentes, where existing resources have already been estimated. However, anomalies will also be tested at new prospects Mauru, Tomate and Uilliam.
“There are three key objectives of Meteoric’s maiden Juruena drill program: to test under-drilled, shallow portions of resource areas at Dona Maria and Querosene beneath artisanal workings; to test new predictive structural models within the projects; and to extend the areas of gold mineralisation outside the currently declared mineral resources,” Dr Tunks explained.
The company anticipates it will receive first assays by early September.
“Samples will be despatched for assaying regularly and we will, therefore, be updating the market with results as we progress,” Dr Tunks said.
“This is truly an exciting time for Meteoric and its shareholders,” he added.
Juruena gold project
The projects cover 770 square kilometres across Brazil’s Alta Floresta Belt, which according to Dr Tunks is Brazil’s “most desirable gold exploration destination”.
Crusader had spent millions on exploration at Juruena and firmed up a global resource of 1.3Mt at 6.3g/t gold for 261,000oz.
The resource includes the high-grade Dona Maria and Querosene deposits which host 436,000t at 14.7g/t gold for 205,000oz.
According to Meteoric, mineralisation at the deposits remains open along strike and at depth, with Querosene returning the highest-grade interval to-date of 1m at 1,992g/t gold.
Juruena also hosts Crentes which is a lower-grade, large-tonnage deposit with a resource of 846,000t at 2g/t gold for 55,000oz.