The company increased its overall gold resources after exploratory drilling was completed at the newly acquired Palm Springs Project in Western Australia.
Meteoric Resources hits further copper sulphides at Juruena and appoints director to oversee Brazilian operations
Molybdenum and copper sulphides have been observed in over 600 metres of core from hole JUDD043, pointing to the presence of a potentially large mineralised porphyry copper-moly system. A further 5,000 metres of drilling is planned for the Juruena porphyry system
Meteoric Resources NL (ASX:MEI) has hit further copper sulphides at the Juruena Project in Brazil and has appointed Dr Marcelo De Carvalho as a new director to oversee the Brazilian operations.
Ongoing drilling for porphyry copper targets has seen the completion of hole JUDD043 at 820 metres - intersecting intermediate porphyritic intrusives as well as 320 metres of moderate to strong phyllic alteration accompanied by mixed pyrite, molybdenite, chalcopyrite and bornite.
S&P/ASX 200 slips as investors fear a COVID-19 resurgence
Brent crude gained 0.6% to US$69.00 a barrel on Tuesday after slumping around 7% in the previous session. Dow Jones index in the US tumbled 700 points on Monday for its worst drop since October.
S&P/ASX 200 (INDEXASX:XJO) has slipped for a second day, with the index easing by 0.12% to 7,277 points by about 1.15 pm.
This follows a significant 1.6% tumble for the S&P500 overnight on Wall Street as the spread of the COVID-19 Delta strain and lockdown uncertainty continues to keep markets on edge.
Oil price tumbles
Locally, energy stocks were the hardest hit following ~7.5% in oil prices overnight as COVID-19 infections surged and OPEC+ agreed to gradually ramp up oil production through to September 2022.
Meteoric Resources forges ahead with exploration at Juruena and Palm Springs copper and gold assets
“It’s a really exciting time at Meteoric as we explore the copper and gold potential of Juruena and take the next steps in developing projects on two continents,” says MD. Meteoric is determined to unlock the potential within its gold and copper-gold assets in Brazil and Western Australia.
Meteoric Resources NL (ASX:MEI) continues to make strong progress with exploration activity across gold and copper assets spanning two continents.
Currently, the ASX-listed base and precious metals explorer has its sights set on the Juruena Copper-Gold Project in Brazil and the recently acquired Palm Springs Gold Project in Western Australia.