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Juruena

At its Juruena Project in Brazil, Meteoric is targeting Gold and Copper-Gold exploration.

In June 2021 Meteoric provided an updated Global Mineral Resource Estimate for Juruena which included a 170% increase in Indicated Resources.

Juruena contains a current Global Mineral Resource Estimate (JORC 2012) of 1.9Mt for 387koz Au at 6.3 g/t. comprising 3 separate but adjacent gold deposits:

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

All three deposits remain open at depth with the potential to further increase the Mineral Resource.

40% of the MRE is classified into the Indicated Category, representing a 100,000 ounce gold increase from the previous MRE.

Meteoric’s 2021 deep diamond drilling has confirmed the presence of a significant porphyry system. The porphyry copper potential is best exemplified by a 640m thick zone of copper mineralisation enriched 100 times above local background copper levels that was intercepted in hole JUDD043. Coupling this thick intersection with the several new gold zones intercepted in the drilling and the enormous IP Chargeability anomaly discovered in 2020, the potential for a discovery of an economic porphyry system remains high.

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.

“There is never a more exciting time than when you are drilling a target that has multiple lines of support and serious size potential.”

In 2020, a Deep IP Survey carried out by Meteoric searching for a potential Porphyry Copper-Gold target uncovered a Massive IP Chargeability anomaly beneath the Juruena Gold Deposit.

The high chargeability IP anomaly is over 2000m in length and 1500m in width and is less than 500m below the surface and open to the north-west.

In 2021 Meteoric is focused on targeting the Copper-Gold Porphyry potential with a 3,600m (3 hole) drilling program designed to test the interpreted giant Cu-Au rich porphyry system.

Copper Gold Intercepts to date include:

– JUDD024 9m @ 15.6 g/t Au and 1.5% Cu from 100m including 6.0m@ 2.16 g/t Au and 2.0% Cu from 101m

– JUDD010 54.3m @ 1.33g/t Au and 0.23% Cu from 171m including 12.0m @ 4.54g/t Au and 0.25% Cu from 178.5m

Juruena contains a 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 – 846,000t @ 2.0 g/t for 55,000 oz Au

Meteoric is targeting a resource upgrade Q1 2021.