- Meteoric Resources (MEI) launches a drilling program at the Palm Springs gold project in the Kimberley region of Western Australia
- The drilling will target chargeability anomalies acquired via an IP survey undertaken earlier this year
- Contractors Stark Drilling have now mobilised a specialised reverse circulation drill rig to site, which will be used to complete the 1000-metre program
- This one rig, manned with a crew of three, will take around two weeks to complete the program
- Meteoric Resources is up 7.69 per cent, trading at 1.4 cents at market close
Meteoric Resources (MEI) has launched a drilling program at the Palm Springs gold project in the Kimberley region of Western Australia.
The drilling will target chargeability anomalies acquired via an IP survey undertaken earlier this year.
Of the three targets, one has the potential to extend the known resource estimates towards the northeast, with the other two yet untested.
Contractors Stark Drilling has now mobilised a specialised reverse circulation drill rig to site, which will be used to complete the 1000-metre program.
This one rig, manned with a crew of three, will take around two weeks to complete the program.
Non-Executive Director Dr Andrew Tunks told investors the company has made great progress since acquiring the Palm Springs project in 2020.
“The 2022 IP survey has generated several chargeability anomalies that represent excellent drill targets and our goal is to test them before the 2022 field season is ended by the wet season,” he said.
“On our ground we have several significant zones of highly anomalous rock chips, and soil geochemistry associated with major structural features such as the Halls Creek Fault and one of our primary goals is to test these areas in the 2022 field season.”
Meteoric Resources was up 7.69 per cent, trading at 1.4 cents at market close.