I think there's a misconception that Meteoric is out there in the remote rainforest drilling away on their own hoping to strike it lucky. They're not. This is a big deal, with much more happening on the ground than investors realise. If they are in fact in the process of proving up a major new district-scale discovery, there will be plenty of interest and possibly suitors looking over their shoulder, from local Brazilian players to international mining majors.
Here's the guts of it is from 23.00:
Tunksy: We're a long way from any historic drilling now. We're way to the west of the gold deposits, like nearly a kilometre. It really is opening up Jurena to a whole new thing. We're seeing stuff that looks very much like the Dona Maria gold stuff as well as the porphyry copper stuff.
Kerry: Do you think this could open up a whole district of potentially a copper-gold discovery, because it hasn't really been explored much before?
You're right. We're in an area called the Alta Floresta Belt. It's proterozoic in age, so it's almost the second oldest age. Really we're looking at about 1.8 billion years. We know at the other end of the belt, at the eastern end of the belt, Anglo Gold or Anglo American I can never remember which, made a porphyry discovery. Now that was a copper-only one and it was quite low grade.
We feel ours is copper and gold, we know that from assays we've announced previously at Crentes and other areas, so the area has been known for its copper and gold. So yes we feel there is a copper and gold porphyry potential in this belt.
There's been one discovery made, but we're way out at the western end of the belt. So if there's one at the eastern end and one at the western end of the belt, it absolutely opens up the whole belt.
And there's FURIOUS exploration in the Alta Floresta Belt at the moment despite Covid - Tunksy's emphasis, not mine. The majors are in there and there's a lot of exploration going on. We're very grateful to not only be part of that story, but a leading part of that story. I know in Brazil our ASX results get read. I get so many emails in Portuguese that I have to send them back to my guys and say, what is this? People in Brazil, the scientific community, are watching this to see what's going on with our cutting edge exploration.
Kerry: I don't think the market's recognised what you've got at the moment. What's your view on that?
Tunksy: We feel, as I've said several times, this is the time. We are very confident that over the next few months we will be releasing some great results from drilling.
(20min delay)