Meteoric finalises cobalt maiden drill program, Canada

Written by Megan Graham, edited and authorised by Jonathan Jackson. Published at Jul 5, 2018, in Juniors

Canadian cobalt focused explorer Meteoric Resources NL (ASX: MEI) has announced the details of a 16-hole maiden drill program for its 100% owned Mulligan Cobalt Project located in East Ontario, Canada.

The company now has 3D induced polarisation anomalies modelled to a depth of 500 metres below surface. Seven high chargeability polymetallic anomalies are set to be drill tested. The 16-hole maiden drill program will total 1,570 metres of NQ diamond drilling, with the company due to award the drilling contract and mobilise equipment to the site in the coming weeks.

MEI recently completed a closely spaced (100m x 25m), ground based Induced Polarisation (IP) survey across the entire Mulligan Cobalt Project.

Data from the geophysical survey was modelled in 3D to support the design of the 16-hole maiden drill hole program at the project. All drilling will be angled diamond holes designed to intersect the IP anomalies between 30 to 90 metres below surface.

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.

Oblique view of the Mulligan Project 16 Hole Maiden Drill Program and IP inversion model. Both isolated holes are positioned to test beneath existing workings with a weak IP anomaly.
Oblique view of the Mulligan Project 16 Hole Maiden Drill Program and IP inversion model. Both isolated holes are positioned to test beneath existing workings with a weak IP anomaly.
Plan view of the Mulligan Cobalt Project Maiden Drill Program and IP inversion model.
Plan view of the Mulligan Cobalt Project Maiden Drill Program and IP inversion model.

Meteoric Resources MD, Dr Andrew Tunks commented: “The finalisation of the drill program is a culmination of the hard work our team has put in on the ground in Canada, led by our cobalt expert Tony Cormack, since the beginning of the field season and we are very excited to be commencing our maiden drilling program at Mulligan.

“We have diligently and systematically been working through target generation across our entire Canadian cobalt portfolio and whilst we kick off with drilling at Mulligan, we will continue to advance our other projects through both air and ground geophysics programs.

“As I have said many times before, drilling for an exploration company like Meteoric is truly the most exciting stage, as it is the only through drilling, that you can make a discovery.”

Next Steps

MEI has schedule airborne geophysical programs to commence at Iron Mask and Mulligan East, with ground geophysics at Burt, Joyce Lake and Lorrain set to follow.

These programs will generate drill targets that will be ranked and drill tested over the coming months.

S3 Consortium Pty Ltd (CAR No.433913) is a corporate authorised representative of Maven Capital Pty Ltd (AFSL No. 418504). 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.

Facebook
Twitter
LinkedIn