Meteoric Resources uncovers high-grade gold in first ever drill hole at Novo Astro

Meteoric Resources (ASX: MEI) has intersected high-grade gold in its first ever drill hole at the Novo Astro greenfields project in Brazil.

The company has now uncovered 0.5m at 38.8 grams per tonne gold at the previously undrilled project’s Jose prospect, while also confirming primary gold mineralisation is present at depth.

“Results from the first ever drilling at Novo Astro on the Jose prospect have provided confirmation that gold mineralisation continues beneath the Garimpeiro open pits and that gold is associated with both veining and pyrite alteration of the granitic host rocks,” Meteoric managing director Dr Andrew Tunks explained.

Dr Tunks added that intersecting the high-grade gold in the first hole from 72.3m has provided the company with confirmation gold exists in the primary rocks below the artisanal open pits.

Results are pending for drilling undertaken at the Graca and Matteus prospects.

At these prospects, Dr Tunks said there was stronger alteration and veining than seen at Jose.

“On the ground there is an expectation of significant gold intercepts at Matteus and Graca, where more intense shearing, alteration and higher sulphide contents have been observed.”

“We anticipate receiving the next batch of results from Novo Astro in January 2020 as well as further results from Juruena,” Dr Tunks added.

To-date, 12 holes have now been completed at Novo Astro with a further two in progress. These are expected to be completed this week and will mark the end of the 2,500m diamond drilling program at Novo Astro.

Drilling at the flagship Juruena gold project is also anticipated to wind up this week, with the completion of both programs marking the end of Meteoric’s Brazilian exploration campaign for 2019.

Meteoric noted that core logging and dispatch of samples for analysis would continue throughout December and into January to ensure a steady stream of results during the first quarter of next year.

“The Meteoric team has completed an excellent first field season in Brazil, which has seen the company evaluate, acquire and commence exploration, which included over 6,000m of diamond drilling and intersection of significant gold mineralisation,” Dr Tunks said.

“As we continue to grow our knowledge of these exciting projects, we are confident of continued success in our 2020 campaign, which is currently in planning stage and will commence in Q1, as soon as the tropical rain allows access,” he added.