Australia

Meteoric Resources intersects visible gold in first-ever drilling at Novo Astro in Brazil

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Meteoric Resources NL (ASX:MEI) has intersected visible gold in the first-ever drilling undertaken at the Novo Astro Gold Project in Brazil.

The hole was drilled at José Prospect within a zone of strong alteration and veining below the historic Garimpeiro pit.

It intersected a 56-metre-wide zone of variable shearing and sericite-pyrite alteration.

Never drilled previously

Meteorics managing director Andrew Tunks said, “Novo Astro is a giant Garimpeiro mining centre that was very active in the 1980s which continues to be the site of small-scale mining even today.

“Over the years a considerable body of work has been compiled at Novo Astro by previous explorers including pit sampling, geological mapping, soil geochemistry and selective rock chip sampling.

“However, until Meteoric, it had never been drilled.”

Five holes completed

The company has completed five holes at the project with the first two of these logged and dispatched for assay.

Results are expected by the end of this month.

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The first hole was drilled to a depth of 135 metres and intersected three zones of moderate to strong sericite-pyrite alteration – 52.5-54.1 metres, 70.2-80.1 metres and 118.7-120.1 metres – in porphyritic granite.

Fine visible gold was in the deepest zone, which corresponds with the projection of the high-grade mineralisation and veining within the pit.

Very fine-grained visible gold in hole NADD001, pencil tip is 0.5 millimetres for scale.

56-metre zone

A second hole intersected a 56-metre zone from 134 metres of variably sheared and altered porphyritic granite.

There are two significant zones of 7 metres from 134.2 metres and 8 metres from 182 metres which show intense sericite and pyrite alteration

Three other holes have been completed at Matteus Prospect and are being logged prior to being sampled with results expected in December.

Another rig

Another diamond rig has been mobilised from the Juruena project to fast track the Novo Astro exploration program with two rigs now drilling.

An extensive geophysical program, including IP and magnetics, has also commenced at Novo Astro.

Tunks said, “We are delighted to be the team that drilled the first hole into Novo and we are excited that our firsRead More – Source