Join our daily newsletter At The Bell to receive exclusive market insights
- Meteoric Resources (MEI) has begun reverse circulation (RC) drilling at the Palm Springs Gold Project in Western Australia
- This RC drilling will be completed alongside diamond drilling at the Butchers Creek open pit
- The aim of this program is to initially confirm the quality and location of historical gold intercepts then extend the high-grade gold mineralisation to the south
- Additionally, Meteoric has begun sampling the diamond core which will be sent to Perth for assay with results expected in mid to late October
- Meteoric is up 8.89 per cent and shares are currently trading for 4.9 cents each
Meteoric Resources (MEI) has begun reverse circulation (RC) drilling at the Palm Springs Gold Project in Western Australia.
This RC drilling will be completed alongside diamond drilling at the Butchers Creek open pit.
Stage one drilling at Butchers Creek will consist of roughly 23 RC holes, for 5000 metres, and seven diamond holes for 1500 metres.
The aim of this program is to initially confirm the quality and location of historical gold intercepts then extend the high-grade gold mineralisation to the south.
Additionally, Meteoric has begun sampling the diamond core which will be sent to Perth for assay with results expected in mid to late October.
“As new data arrives from our drilling, we will be able to quickly refine our model for the host unit, the gold mineralised envelope and important faults that may have acted as feeders for rich gold fluid,” Managing Director Dr Andrew Tunks said.
“With the digital data now at hand, this becomes a quick iterative process which will be reflected in more accurate targeting of our drilling to test key mineralised gold zones,” he added.
Meteoric is up 8.89 per cent and shares are trading for 4.9 cents each at 11:13 am AEST.
