Meteoric to conduct VTEM survey over Canadian cobalt projects

By Megan Graham. Published at Aug 8, 2018, in Small Caps

Canadian cobalt focused explorer Meteoric Resources NL (ASX:MEI) today announced it has contracted Geotech Limited to commence a 714 line-kilometre airborne VTEM (Versatile Time Domain Electro Magnetic) survey over the company’s 100% owned Iron Mask, Mulligan East and Beauchamp Cobalt Projects — all located in Ontario, Canada.

The VTEM system is the most innovative and successful airborne electromagnetic system to be introduced in over 30 years.

The system will be coupled with a “high dipole moment transmitter” which provides high-quality resolution and depth of investigation, and geometrics split-beam magnetic sensors will also be utilised on the survey. These magnetic sensors will perform continuously in areas of high magnetic gradient to accurately define the Nipissing Diabase in the sub-surface.

The anomalies defined by the VTEM airborne survey will be subsequently modelled in 3D, providing the company with well-defined, high resolution geophysical targets. This, in turn, will enable MEI to begin advanced exploration activities at all three project locations.

MEI Managing Director Andrew Tunks commented on today’s news: “With drilling at Mulligan well underway it is crucial we fast track our summer exploration work by commencing airborne surveys across our three largest cobalt projects in Ontario.

“We have found that the cost of flying airborne VTEM surveys in Canada is extremely cheap when compared to other locations globally and given Iron Mask, Mulligan East and Beauchamp cover over 60km2 of ground prospective for cobalt mineralisation, flying the chopper survey as a first pass is a very cost-effective method for generating targets.

“In quick time the airborne survey will provide us detailed results on the potential for mineralisation in the sub-surface and allow our field crews to continue to complete our target generation for advanced exploration activities, including drilling at our other projects.”

Geotech Limited’s VTEM / Magnetics airborne geophysics set-up

It should be noted that MEI is in the early stages of its exploration here and investors should seek professional financial advice if considering this stock for their portfolio.

S3 Consortium Pty Ltd (CAR No.433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information only. Any advice is general advice only. Neither your personal objectives, financial situation nor needs have been taken into consideration. Accordingly you should consider how appropriate the advice (if any) is to those objectives, financial situation and needs, before acting on the advice.

Conflict of Interest Notice

S3 Consortium Pty Ltd does and seeks to do business with companies featured in its articles. As a result, investors should be aware that the Firm may have a conflict of interest that could affect the objectivity of this article. Investors should consider this article as only a single factor in making any investment decision. The publishers of this article also wish to disclose that they may hold this stock in their portfolios and that any decision to purchase this stock should be done so after the purchaser has made their own inquires as to the validity of any information in this article.

Publishers Notice

The information contained in this article is current at the finalised date. The information contained in this article is based on sources reasonably considered to be reliable by S3 Consortium Pty Ltd, and available in the public domain. No “insider information” is ever sourced, disclosed or used by S3 Consortium.

Thanks for subscribing!