Meteoric Resources NL (ASX: MEI) is exploring its Juruena and Novo Astro Gold Projects, in the Alta Floresta Belt in Mato Grosso, Central Brazil.
Meteoric plans to acquire the Palm Springs Gold Project within the Halls Creek Orogen of Western Australia. It is an advanced exploration play with past gold production of 52,000oz @ 2.1 g/t Au from the Butchers Creek open-pit mine, plus spectacular drill intercepts and historic resources.
Drilling in 2019 intersected a bonanza grade result of 20.6m @ 94.9g/t Au including 3.65m @ 508.4g/t Au as well as a high-grade gold shoot at Juruena’s Dona Maria prospect.
The Juruena Project contains a current Global Mineral Resource Estimate (JORC 2012) of 1.3Mt for 261koz Au at 6.3 g/t comprising:
Meteoric Resources listed on ASX in 2004 and in 2019 acquired a portfolio of highly prospective gold projects in Brazil.
Following its maiden exploration program across the key projects, Juruena and Novo Astro, the Company completed a placement of $7m late in 2019 to fund exploration programs across both projects through 2020.
Exploration is focused on expanding the existing gold resource at Juruena.
The Meteoric management team includes experts in the field with previous project specific experience.
The Alta Floresta Belt is arguably the most desirable gold exploration destination in Brazil. A massive land grab has been occurring since the latter half of 2017, with approximately 2.65 million hectares of copper and gold exploration permit applications being filed with the Brazilian Mining Department to date, covering virtually the entire belt.