Meteoric Resources mobilises team to Palm Springs gold project for Stage 1 drilling campaign

Perth-based gold explorer Meteoric Resources (ASX: MEI) has confirmed it will commence a 6,500m Stage 1 drilling campaign this month at its newly-acquired Palm Springs gold project in Western Australia’s Kimberley region.

The campaign has been designed to confirm and extend known shear-hosted, high-grade mineralisation associated with a plunging anticline to the south of the historic Butchers Creek open pit mine.

The mine has not been subject to modern exploration since it closed in 1997 due to a low gold price.

Drilling will consist of approximately 23 reverse circulation holes for 5,000m and seven diamond holes for 1,500m.

Team mobilisation

Meteoric managing director Andrew Tunks said an exploration team will mobilise to site in anticipation of the campaign.

“The [drilling] program is very exciting as we break ground on this highly prospective project, which historically has had some amazing results,” he said.

“We are targeting the high-grade mineralisation below the shallow open pit at Butchers Creek and we have a WA-based team on the ground and ready to mobilise next week,” Mr Tunks added.

Butchers Creek pit

Mr Tunks said the campaign will start on a cross-section of the Butchers Creek pit containing a hole, which in 1996 assayed 73m at 2.26 grams per tonne gold from 169m.

Drilling will systematically track the mineralised anticline on 40m sections moving south away from the pit.

It will then attempt to confirm high-grade intercepts below the pit and test for the extension of mineralisation at depth.

The tail-end of Stage 1 will see drilling shift focus to a number of regional targets already identified.

Meteoric is working to generate new regional targets for drilling later in the field season.

Project acquisition

Meteoric acquired the Palm Springs advanced exploration play and historic Butchers Creek mine in June for a total consideration of $750,000 cash plus 12.5 million shares.

The project covers more than 120sq km and includes three mining leases, four exploration licences and six prospecting licences.

It contains 60 known gold occurrences over a 20km strike.

Past drill intercepts beneath Butchers Creek included 68m at 2.5g/t gold from 44m; 19m at 8.8g/t from 56m; and 50m at 3.31g/t from 50m.

During the acquisition process, Meteoric submitted a program of works to the WA Department of Mines, Industry Regulation & Safety to commence drilling at Butchers Creek.

The work will be the first exploration activity carried out in the area this century.