Meteoric Resources’ first drill hole at the Juruena gold project in central Brazil has intersected visible gold with a 16 metre alteration zone at the Dona Maria prospect.
The company has completed two drill holes which are being logged and sampled before being dispatched for assay; results are expected in four weeks.
Meteoric managing director Andrew Tunks said, “It is fantastic to see visible gold in our very first hole and an early vindication of our decision to commit to drilling the project immediately after acquisition.
“The exploration team in Brazil were excited to report visible gold in our visible gold in our first hole and this provides management with additional confidence in our program and the prospectivity of our Brazilian assets.”
The drilling was designed to confirm bonanza grades around historic holes, including J-07 – 20.9 grams a tonne at 1.8 metres, MR‐10/2015 – 62.4 grams a tonnes at eight metres, and MD 10‐2016 – 11.9 grams a tonne at 4.8 metres. The results represent an initial confirmation of the high-grade zone at Dona Maria.
Activity rates will now increase with two rigs, ramping up to two shifts, the company stated. Meteoric is currently drilling JUD003 and JUD004, the third and fourth drill holes.
Meteoric acquired the Juruena project in March 2019. The project is located on the western end of the Alta Floresta Belt.
The region is one of the most desirable gold exploration destinations in Brazil and has historically produced over seven million ounces of cold. The Novo Astro project is 25 kilometres to the south east.
“We do not have to compromise the planned Juruena program to commence drilling at Novo Astro which we now anticipate commencing in mid-September,” Tunks said.
“We are hard at work on both projects and look forward to updating the market when we have received some assays and interpreted the results.”