copied from adobe..not sure if formatting will keep..Meteoric...

copied from adobe..not sure if formatting will keep..

Meteoric Resources is pleased to announce a joint venture with Giants Reef Mining Limited on
tenements EL10370, ML C57, and ML C217-C224 totalling 422sqkm in the south eastern part of
the Tennant Creek field (see attached map). The Mineral Leases cover the Perseverance
workings which have been previously drilled with best results of 3m @ 43.2g/t Au from 72m in
hole PERC-01 and 4m @ 4.7g/t Au from 14m in hole PERC-06. This high-grade mineralisation
is associated with a series of outcropping hematite and magnetite ironstones. The workings are
covered by a Central Land Council exclusion zone. Just east of the exclusion zone the Bluebird
workings have recorded historical production of 172 t @ 9.3g/t Au.
The ironstones form part of the Golden Mile line of historical workings that strike over a length of
4.5km. All the ironstones in this line are associated with numerous dipolar bullseye magnetic
features with ground magnetic anomalies varying between 100nT to 5000nT. Within the
Perseverance area the hematite ironstones are associated with the 100nT anomalies while the
magnetite ironstones are associated with the 5000nT anomalies.
No detailed modern gravity surveys have been completed in this area and a detailed gravity
survey is proposed covering the potential eastern extension of the Golden Mile line over an area
of 2km x 6km to test for hematite Au/Cu-rich ironstones. A second target is a pronounced
aeromagnetic anomaly at R29 located in the southern part of the Barkley project area where a
number of holes were drilled in 1974 with best results of 3m @ 2.8g/t from 70m in hole DDH
468. None of the holes intersected any magnetic material to explain the aeromagnetic anomaly.
The key terms of the joint venture are as follows:
• Meteoric may earn a 51% interest by the expenditure of $300,000 within 3 years and
must spend at least $75,000 within the first year with a $10,000 cash payment on
signing of the agreement.
• Giants Reef may contribute at the 51% interest level. If Giants Reef does not contribute
at this level Meteoric may earn a further 19% by expenditure of $200,000 within an
additional 2 years.
• Giants Reef may elect to toll treat mineable gold (and/or copper-gold) deposits of less
than 100,000oz at its Warrego treatment plant, up to a maximum of 200,000ozs.
The Barkley joint venture is considered to be an opportunity for Meteoric to increase its
landholdings of prospective and under-explored tenements in this high-grade mining district.
For more information on the company visit www.meteoric.com.au
Please direct enquiries to:
Roger Thomson George Sakalidis
Managing Director Executive Director – Exploration
Phone (08) 9485 2836 Phone (08) 9485 2836
Mob 0419 969 183 Mob 0411 640 337