Meteoric is currently completing its maiden 26-hole diamond drill program for 4,700m at the Juruena Gold Project. The program primarily targeted the high-grade zones at the Dona Maria, Querosene and Crentes resources in addition to testing other known prospects including Mauro, Tomate and Uilliam.
Significantly, the Company has reported Visible Gold (VG) in several of the initial drill holes, in addition to the Bonanza Grade intercept reported from the returned assays of JUDD001 of 20.6m @ 94.9 g/t Au from 96.8m including 3.65m @ 508.4 g/t Au from 107.5m (refer to ASX announcement of 18 September 2019).
Following a recent placement of $7m, the Company is now fully funded to proceed with further exploration including the next season of drilling. It is anticipated that the new drilling will focus on expanding the known mineralisation at depth at Dona Maria and along strike at Tomate.
Additionally, Meteoric will be looking at several other under drilled targets and the largely unexplored Arrasto Hills to the Northwest.
The Juruena Project currently contains a current Global Mineral Resource Estimate (JORC 2012) of 1.3Mt for 261koz Au at 6.3 g/t comprising of:
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