Join our daily newsletter At The Bell to receive exclusive market insights
- Meteoric Resources’ (MEI) follow-up drilling program confirms mineralisation extends further south at the Palm Springs Gold Project in WA
- Visible gold was observed at three intervals, with a 79-metre intersection of strongly veined and altered gold hosting syenite
- A further three diamond tail drilling holes are set to be completed later this month, with initial assay results due in late August
- Meteoric Resources is up 2.08 per cent, trading at 4.9 cents at 3:20 pm AEST
Meteoric Resources’ (MEI) follow-up drilling program has confirmed mineralisation extends further south at the Palm Springs Gold Project in WA.
MEI says the follow up drilling showed the presence of thick, robust zones of mineralisation south of the 2020 mineral resource estimate.
The company has now completed five out of eight planned drillholes as part of its exploration program, with reverse circulation pre-collars completed for the balance.
Visible gold was observed at three intervals, with a 79-metre intersection of strongly veined and altered gold hosting syenite.
Meteoric’s MD, Dr Andrew Tunks says the company learned a lot about the project from last year’s maiden drill program, from which the new program will benefit.
“We learnt a great deal about Palm Springs from last year’s highly successful maiden drill program, in particular that gold mineralisation is stratabound within a single thick syenite unit and that the highest grade and thickest parts of the orebody occur within the hinge zone of a regional scale anticlinal fold hinge forming a robust high-grade zone that plunges shallowly southeast,” said Dr Tunks.
“Our 2021 drilling program was designed to further improve our confidence in the spatial distribution of the high-grade zone and further extend this zone down plunge to potentially grow the current gold resource inventory.”
A further three diamond tail drilling holes are set to be completed later this month, with initial assay results due in late August.
Meteoric Resources was up 2.08 per cent, trading at 4.9 cents at 3:20 pm AEST.
