From (goldtalk) MEI-METEORIC BRAZIL PROSPECT BLOWS BONANZA GRADES GOLD OFF THE MAP. MARKET HASN’T WOKEN UP TO THIS BEAUTY. 3.6m @ 554g/t Au, 2m @ 76.70g/t Au, 10m @ 101g/t Au, 8m @ 62.40g/t Au, 9m @ 54.40 g/t Au – as reported in Investor Presentation October 2019 Goldman October 19, 2019 COMPANY NEWS 74 3 minutes readDeep in the interior of Brazil, little known ASX listed: ASX MEI- Meteoric Resources Limited, has commenced and reported diamond core drilling results from its JURUENA Project and has delivered super impressive Gold grades from the drilling program. The Company recently reported 14th October, Drill Hole ID JUDD008 intersecting 14m @ 81.70g/t Au from 142m including 2m @ 71.60g/t Au from 144.4m and 2.5m @ 287g/t Au fm 149m. A second Drill Hole ID JUDD 007 was also reported as intersecting, 3.5m @ 15.30g/t Au from 125m including 1m @ 51.90g/t Au fm 124m . The Company reported that Drill Hole JUDD008 was drilled 30m South and 40m down dip of Drill Hole JUDD001,that previously intersected 20.60m @ 94.90gt/ Au from 96m including 3.65m @ 509.40g/t Au from 105.5m depth.Historical Drill results on other prospects within the Project area, include the Querosene Prospect that also returned bonanza grades over good widths including:3.6m @ 554.30g/t Au from 147m.2.90m @ 76.70g/t Au fm 113m.4m @ 32.60g/t Au fm 65m.A second of several prospects within the JURUENA project is the Dona Maria that also returned bonanza Gold grades including:10m @ 101g/t Au fm 127m.8m @ 62.40g/t Au fm 100m.9m @ 54.40g/t Au fm 33m.21.8m @ 20.90g/t Au fm 109m.1.5m @ 141g/t Au fm 45m.8m @ 21.80 g/t Au fm 179mPurchase of the Brazil Gold ProjectMeteoric’s Brazilian Gold Projects “Juruena and Novo Astro”, that contain the Dona Marie and Querosene and other prospects was purchased from ASX: Crusader Resources in March 2019. The Project at the time of purchase, had a 2012 JORC Resource of 1.3mt of ore for 261,000 ounce of Gold. The high grade Dona Marie and Querosene Prospects which form part of the Juruena Project contain 436,000 tonnes @ 14.70g/t Au for 205,000 ounces. Both of these two prospects owned 100% by Meteoric, are open at depth and along strike. Metallurgical testwork at the time of purchase confirmed metallurgical recoveries of 90%, over all of the prospects. The Meteoric Projects, cover an area of over 770Sq Klms, comprising 24 contiguous tenements, located on the western end of the highly prospective Alta Floresta Belt. Other major companies operating in the area are Anglo American, Vale, CODELCO, among others.GeologicallyGeologically, the Alta Floresta belt is a Paleoproterozoic, east west trending, continental magmatic-arc, estimated to have produced over 7 million ounces of Gold to date. The geology comprises calc-alkaline intrusive rocks, porphyries and intermediate volcanic rocks. The Managing Director of Meteoric Dr Andrew Tunks, stated prior to the drilling at these prospects, that, ” the Alta Floresta Belt is arguably the most desirable Gold exploration destination in Brazil.” The MD also went on to say, ” The acquisition of the Juruena and Nova Astra Projects is a wonderful opportunity for the Company. It is a pivotal point in developing our work, mission, identity from explorer to producer.” He said, “the truism, ‘GRADE IS KING’ is often thrown around and Juruena is a prime example.”The current drilling has resulted in outstanding bonanza Gold grades and drill intercepts, within a large mineralised system, which remains largely open with the areas still untested. “I am confident there will be exciting exploration results from Juruena”, the MD said.WELL LOOKING AT THE RESULTS ABOVE, HE WAS CERTAINLY RIGHT WITH THOSE COMMENTS.
Expand
(20min delay)