Meteoric Resources NL (ASX: MEI) is a leading Australian Exploration Company targeting Orogenic Gold and Porphyry Copper-Gold in WA and Brazil.
The Company’s total portfolio of Resources across its Juruena and Palm Springs Projects now stands at ~750,000 oz Au.
The Palm Springs Gold Project in WA 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.
A successful initial exploration season in 2020 combined with the discovery of previously overlooked exploration and mining data from historical activities resulted in the Company completing its Global Mineral Resource Estimate (MRE) at the Palm Springs Gold Project in June 2021.
The Palm Springs MRE stands at 5.6 Mt @ 2.0 g/t for 357,000 oz of gold from two deposits:
– Butchers Creek (includes remaining resources below the historic Pit) – Indicated 1.9 Mt @ 2.24 g/t for 139,000 oz Au; and Inferred 3.3 Mt @ 1.7g /t for 180,000 oz Au
– Golden Crown (restated under JORC 2012) – Inferred 390 Kt @ 3.1 g/t for 38,000 oz Au
– High-Grade Epithermal Gold deposits at Dona Maria and Querosene – Indicated 286,000t @ 17.0 g/t Au for 156,000 ounces Au; and Inferred 692,000t @ 7.6 g/t Au for 170,000 ounces Au
– The Crentes Gold-Copper deposit hosted in the Juruena Fault – Inferred 943,000t @ 2.0 g/t Au for 60,900 ounces Au
The Company’s drilling to date has uncovered bonanza grade gold results, including 20.6m @ 94.9g/t Au incl. 3.65m @ 508.4g/t Au as well as a high-grade gold shoot at Juruena’s Dona Maria prospect.
Meteoric has been currently carrying out a 3,600m drilling program targeting a potentially giant Copper-Gold Porphyry Target at Juruena.
Drilling in 2021 has confirmed the presence of a significant porphyry system at Juruena.
Meteoric has commenced work on a Scoping Study for the development of the Dona Maria, Querosene and Crentes gold deposits with GE 21, a Brazilian Mining Consultancy while at the same time commencing the application process for Mining Licences over the key areas proposed for open-pit and underground mining.
Andrew Tunks Presenting at RIU Sydney Roundup 2021
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.