- Meteoric Resources (MEI) will soon begin a three-hole drilling program at the Juruena Project in Brazil
- Roughly 3600 metres of drilling will be undertaken to target a potential copper-gold porphyry system at the project
- The key priority is to test a large, high-chargeability anomaly that was defined by an induced polarisation survey completed last year
- Meteoric believes the anomaly may be a magmatic source to the main gold mineralised zones of the Dona Maria and Crentes prospects
- Company shares are up 4.48 per cent and are trading at 7 cents
Meteoric Resources (MEI) will soon begin a 3600-metre drilling program at the Juruena Project in Brazil.
Drilling will target a potential copper-gold porphyry system beneath the Juruena epithermal gold deposits.
The program will initially include three 1200-metre deep holes which are designed to test the high chargeability anomaly close to the Juruena Fault.
This chargeability anomaly spans over 2000 metres in length, 1500 metres in width, and is less than 500 metres below surface. It was defined by a deep induced polarisation (IP) survey that was completed last year.
Meteoric believes the anomaly could be a magmatic source for the main gold mineralised zones of the Dona Maria and Crentes prospects at the Juruena Project.
“Drilling high-value targets like this is a key reason that I became an explorer — there is never a more exciting time than when you are drilling a target that has multiple lines of support and serious size potential,” Managing Director Dr Andrew Tunks said.
“What we are about to commence in Brazil represents an enormous opportunity for the company and I look forward to updating you on our results over the coming months as the drilling continues,” he added.
Meteoric is also considering a downhole electromagnetic (EM) program which will aim to identify vectors towards any high concentration of sulphides related to porphyry copper-gold mineralisation.
The drilling program will begin shortly and continue through to the middle of the year.
Company shares are up 4.48 per cent and are trading at 7 cents at 10:52 am AEDT.