Brazil is proving a boon for Meteoric Resources (ASX: MEI) and its gold assets, with the first ever drill hole at the Novo Astro project pulling up visible gold.
Located in Brazil’s Alta Floresta Belt and 30km from Meteoric’s flagship Juruena asset, Novo Astro covers 15 square kilometres of tenements and has never before been drilled.
Despite remaining undrilled, the project hosts numerous historic workings.
Meteoric has now completed five holes at the project, with the first hole targeting the Jose prospect beneath the historic Garimpeiro pit.
The hole was drilled to a 135m depth and hit three zones of moderate to strong sericite-pyrite alteration which is often associated with gold mineralisation.
It was the deepest zone between 118.7-120.1m within the first hole that contained the fine visible gold.
“We are delighted to be the team that drilled the first hole at Novo Astro and we are excited that our first drill hole has intersected visible gold,” Meteoric managing director Dr Andrew Tunks said.
“The visible gold was only noted after cutting the core in preparation for assaying.”
“The presence of gold in the core confirms mineralisation and veining continues at depth beneath historic workings,” Dr Tunks explained.
He added the previous sampling of veins in the historic pit had uncovered gold grading higher than 90 grams per tonne.
In the second hole at the project, Meteoric unearthed a 56m zone of variable shearing and sericite-pyrite alteration.
This drill core has also been logged and dispatched for analysis along with the first.
Meteoric anticipates assay results later this month.
Advancing exploration at Novo Astro
Meanwhile, a second diamond rig has been mobilised to the project from Juruena to fast-track the exploration program which initially comprises 21-holes for 2,500m.
“This is just the beginning of our exploration at Novo Astro and we have abundant targets to test and holes to drill,” Dr Tunks said.
“As a geologist and explorer, the first holes into a new project is always one of the most exciting times in the life of an exploration program and I look forward to bringing assay results to the market as they become available from late November,” he added.