Meteoric Resources resumes drilling at Palm Springs, de-watering historic pit

Meteoric Resources ASX MEI Palm Springs drilling 2021 dewatering Butchers Creek Open Pit
Previous intercepts at Palm Springs included 69m at 4.38g/t gold.

Meteoric Resources (ASX: MEI) on Friday began drilling the first of an initial 10 holes its Palm Springs gold project as it launched its 2021 exploration following the end of the northern wet season.

The drilling program at Palm Springs, located in the Kimberley region of Western Australia, is designed to test thick continuous zones of gold mineralisation.

Meanwhile, the exploration team has been on the site for several weeks laying the groundwork, including setting up the camp and de-watering the historic Butchers Creek open pit.

The team has also been preparing for proposed geophysical surveys.

Meteoric Resources acquired the 12,000-hectare Palm Springs project in early 2020.

It includes the old Butchers Creek shallow open pit which was mined in the late 1990s but closed due to the falling gold price at that time.

Two drill rigs on site

The mine, located 30km southeast of Halls Creek, produced 52,000 ounces of gold at 2.1 grams per tonne.

Meteoric said previously that there are 60 known gold occurrences along a 20km strike length.

An initial 10 holes for 3,800m will comprise both diamond and reverse circulation drilling.

Two drill rigs will take six weeks to complete the program under way south of the Butchers Creek pitch.

The drill targets have been chosen using previous intercepts 69m at 4.38g/t and 56m at 2.69g/t.

In addition, the program will test undrilled down-plunge zones southwest of one hole that returned two gold zones, 25m at 2.46g/t and 7m at 2.5g/t.

Drilling ‘meticulously’ planned

Meteoric managing director Dr Andrew Tunks says the company is entering the most exciting phase of exploration: drilling.

“Our maiden 2020 program highlighted several key geological features that have been used to meticulously plan the 2021 drilling,” he said.

He explained that the gold mineralisation is strata-bound within a volcanic trachyte (an extrusive igneous rock composed mostly of alkali feldspar) and the high grades are located in a regional structure.

Meteoric also owns 100% of 24 tenements on the western end of the Alta Floresta Belt in the Brazilian state of Mato Grosso, the area home to more than 40 known gold deposits, including mines operated by Anglo American and Vale.

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