Meteoric Resources NL (ASX: MEI) is a leading Australian Exploration Company targeting Orogenic Gold and Porphyry Copper-Gold in WA and Brazil.
Meteoric acquired the Palm Springs Gold Project within the Halls Creek Orogen of Western Australia in mid 2020. Palm Springs is an advanced exploration play with past gold production of 52,000oz @ 2.1 g/t Au from the Butchers Creek Open Pit, plus spectacular drill intercepts and historic resources.
The Company completed its maiden 26 hole drilling program in 2020 which was successful in confirming and extending gold mineralisation for over 360m along strike to the south-west of the Butchers Creek Open Pit.
Outstanding results were reported in the last of the assays received early in 2021 including:
– 25m @ 2.46g/t Au from 283m & 7m @ 2.50g/t Au from 377m
– 20m @ 2.05g/t Au from 294m
– 18m @ 1.80g/t Au from 301m
Meteoric’s 2021 field season will focus on programs designed to rapidly advance Palm Springs towards production.
At its Juruena Project in Brazil, Meteoric is targeting Gold and Copper-Gold exploration. Juruena contains a current Global Mineral Resource Estimate (JORC 2012) of 1.3Mt for 261koz Au at 6.3 g/t comprising:
– High-grade Dona Maria & Querosene resources – 436,000t @ 14.7g/t for 205,000 oz Au
– Large-tonnage, lower-grade Crentes resource with – 846,000t @ 2.0 g/t for 55,000 oz Au
Proactive Investors interview with Andrew Tunks
Meteoric Resources listed on ASX in 2004 and in 2019 acquired a portfolio of highly prospective gold projects in Brazil. In 2020, the Company acquired the Palm Springs Project in Western Australia.
Meteoric completed acquisition of the Palm Springs project in July 2020 – the area covers more than 12,000 Ha which includes 3MLs, 4 ELs and 6PLs. The Project contains 60 known gold occurrences over a 20km strike and on the site drilling is expected to commence in August.
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.