Meteoric Resources strikes more bonanza gold at Juruena, advances Palm Springs

Meteoric Resources ASX MEI Juruena gold Dona Maria bonanza
Several of Meteoric Resources’ latest assays from Juruena exceeded 90g/t gold, with a peak result of 0.6m at 109g/t gold from 297.4m.

Meteoric Resources (ASX: MEI) has struck more bonanza gold at its flagship Juruena project in Brazil, with several intervals exceeding 90 grams per tonne gold.

Highlight assays were 11m at 2.34g/t gold and 0.28% copper from 42m, including 1.1m at 93g/t gold from 235.9m; 14.3m at 10.2g/t gold from 293m, including 0.6m at 109g/t gold from 297.4m.

These came from hole JUDD031 which intercepted the top of the Crentes porphyry gold-copper system and below the high-grade Dona Maria resource from 2016.

Another notable intercept was hole JUDD028 which returned 2.4m at 37.9g/t gold from 216.5m, including 0.9m at 97.3g/t gold from 217.3m.

Meteoric managing director Dr Andrew Tunks said the 2020 drilling campaign at Juruena had been successful enough for the company to commit to a new resource for the project.

He said if the resource was successful, it would be included in an updated scoping study.

“As part of this commitment, we are currently planning complete the 2020 program by drilling a metallurgical hole into Dona Maria.”

“At the same time, a geophysical team has mobilised to site and will soon commence a deep induced polarisation program to look for a possibly porphyry source for the Crentes gold-copper mineralisation we intercepted over the last two years.”

Dr Tunks added the company believed the gold-copper system is part of a deeper magmatic-porphyry source and the IP program would be the first step in looking for the “potential tier one target”.

Palm Springs gold project

As Meteoric firms up Juruena, it is also “rapidly progressing” the recently acquired brownfield Palm Springs project closer to home in Western Australia.

At Palm Springs, 10 diamond holes and 15 reverse circulation holes have been completed – amounting to about 5,000m of drilling.

Dr Tunks noted assays from this drilling are anticipated to begin coming in later this month and early November.

“Onsite we have continued to geologically log strongly altered and mineralised trachytes at the expected target depths, and we are now drilling and intersecting potentially gold mineralisation almost 300m south of the historic Butchers Creek pit,” he added.

    Join Small Caps News

    Get notified of the latest news, interviews and stock alerts.