Meteoric Resources NL (ASX:MEI) Announce Coorara Drilling Results
The drilling was carried out over an aggregate 1km strike length of targets within a 4km strike length of multiple banded iron formations (BIF) in the northern part of the project area, representing only a very small part of the total 40km BIF strike length within the project tenements. The drilling was designed to test for goethite-hematite associated with the magnetite BIF horizons and targeted areas where sampling has indicated surface grades in excess of 50% Fe and areas where gravity anomalies indicate potential for iron enrichments. Limitations in gaining drilling access over BIF ridges resulted in less than optimum drill hole positions to test some targets and a track-mounted drilling rig may be required in future.
The drilling intersected an intercalated sequence of BIF and ultramafic rocks with the BIF horizons ranging from a few metres up to 60m in apparent thickness, weathered or altered to depths of 30m to 60m below surface.
The drilling confirmed geothite-hematite enrichments in the weathered zone of the BIF, however thicknesses are generally lower and silica content somewhat higher than expected when compared to the surface sampling results. It is noted however that this initial drilling is a very early step in the assessment of the goethite-hematite potential of the project and that numerous targets remain to be tested. In addition, assessment of the detrital iron ore potential and the potential of the primary BIF for magnetite ore has yet to commence.
Logging and sampling of the remaining holes is in progress prior to carrying out further mapping and sampling to identify priority targets for further drilling.
For the complete Meteoric Resources NL announcement including drilling result tables, please refer to the following link:
About Meteoric Resources Nl
Meteoric Resources NL (ASX:MEI) is targeting gold exploration at the Company's wholly owned Juruena and Novo Astro Gold Projects, located in the Alta Floresta Belt in the state of Matto Grosso in Central Brazil.
The Juruena Project contains a current Global Mineral Resource Estimate (JORC 2012) of 1.3Mt for 261koz Au at 6.3 g/t comprising:
- High grade Dona Maria & Querosene resources - 436,000t @ 14.7g/t for 205,000 oz Au
- Large-tonnage, lower-grade Crentes resource with - 846,000t @ 2.0 g/t for 55,000 oz Au
MEI is currently carrying out its maiden drilling program in Brazil with first results anticipated in September 2019.
Meteoric Resources Nl