Meteoric Resources confirms more gold mineralisation at Butchers Creek open pit

Meteoric Resources MEI ASX Palm Springs gold final assays extend
A highlight result from recent drilling at Palm Springs was 69m at 4.38g/t gold from 181m, including 19m at 7.22g/t from 204m.

A series of “outstanding” assay results from the final holes of a maiden drilling program at the Palm Springs gold project in WA’s Kimberley region have extended the continuity of mineralisation for owner Meteoric Resources (ASX: MEI).

A total 26 holes for 2,278m of diamond drilling and 5,042m of reverse circulation drilling confirmed and extended the mineralisation for a minimum 360m along strike to the southwest of the historic Butchers Creek open pit.

Notably, 20 of the holes intersected the target trachyte, with nine holes hitting the fold hinge zone and returning “spectacular” widths and grades.

Best results from these nine holes were 69m at 4.38 grams per tonne gold from 181m, including 19m at 7.22g/t from 204m; 56m at 2.69g/t gold from 181m, including 18m at 4.85g/t; 55m at 3.21g/t gold from 175m, including 8m at 7.56g/t from 179m; and 53m at 2.14g/t gold from 147m.

The remaining 11 holes drilled into the limbs of the anticlinal fold with generally narrower widths and moderate-to-high grades.

Highlights of these holes were 8m at 10.41g/t gold from 156m; 25m at 2.46g/t gold from 283m and 7m at 2.50g/t from 377m; and 20m at 2.05g/t gold from 294m.

Hinge zone

Results were also recently received for one hole located approximately 360m southwest of the pit crest, where drilling targeted the hinge zone of the anticline.

According to Meteoric, the hole was collared too far to the west and drilled below the hinge region, intersecting the upper and lower limbs of the anticline.

Several instances of visible gold were observed on the upper limb and were consistent with thick mineralised intercepts observed on several other sections to confirm the target is larger than just the hinge region alone.

This was the southern-most hole drilled at Butchers Creek, and  mineralisation remains open at depth and along strike to the southwest.

Meteoric said the hole would remain an “obvious target” for follow-up drilling during its 2021 campaign to rapidly advancing Palm Springs towards production.

Key priorities

Meteoric has a number of key priorities for the year including completion of dewatering at the Butchers Creek pit to allow drilling immediately beneath the pit floor targeting unmined ore, as well as additional step-out and infill drilling to produce a maiden mineral resource estimate to underpin a scoping study.

If that study is positive, it will embark on preliminary metallurgical testwork and geotechnical studies to support project pre-feasibility and feasibility studies.

Meteoric managing director Dr Andrew Tunks said the coming year would be a busy one.

“Our 2021 Kimberley program will be exciting [and] designed to rapidly advance the Palm Springs gold project towards production,” he said.

“Our historic information indicates a significant amount of ore was left behind when the Butchers Creek operation ceased in the late 1990s due to low gold prices [and] our aim is to produce a maiden resource estimate [incorporating that ore].”

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