Meteoric Resources outlines exploration plans for polymetallic assets in Canada

By Trevor Hoey. Published at Oct 20, 2017, in Small Caps

Meteoric Resources (ASX:MEI), a Canadian focused copper-nickel-cobalt-PGE (Platinum Group Elements) explorer has provided an update regarding the company’s upcoming work program at its Midrim project in Quebec, Canada.

Following a preliminary site visit and field study of the project area by the company’s exploration manager, Max Nind indicated that the preliminary metallurgical study of historical drill cores from the Midrim prospect was progressing well.

In order to conduct this study, three holes were selected, with core samples cut and composited to make up a 50 kilogram sample. The results should assist in identifying the
appropriate process for extraction and the potential recovery of Cu-Ni-Co-PGE metals at the Midrim project. Results of the preliminary metallurgical study are expected in Q4 2017.

As part of the validation process, the re-assaying of a representative sample of nine historical drill cores, including geological units that have previously not been assayed is being undertaken to confirm historical assay results, as well as assisting in the identification of potential new zones of mineralisation.

Meteoric Resources

The metallurgical test work will develop a suitable processing flowsheet and design to support a substantially larger bulk sample mining study. This later study will identify the viability of extracting a suitably sized zone of shallow mineralisation from within the existing historical drilling area for trial processing. Results of the bulk sample study are also expected in the fourth quarter of 2017.

Meteoric has multiple assets in play in highly prospective regions

Management highlighted that MEI has the unique opportunity to concurrently explore multiple highly prospective properties through its close relationship with Orix Geoscience and their team of highly competent and respected technical personnel.

This should allow the company to rapidly advance its projects through a fully funded initial work program being conducted this quarter. In expressing early signs of confidence in MEI’s outlook, Nind said, “I am very encouraged by my initial visit and review of the extensive historical database and believe the potential to make significant primary cobalt and copper-nickel-cobalt-PGE discoveries on the three project areas has never been greater.”

It should be noted here however, that MEI is an early stage company and investors should seek professional financial advice if considering this stock for their portfolio.

MEI is also in the process of considering appropriate programs to be conducted at both the Iron Mask and Mulligan projects. The former is located in Ontario, Canada and is in close proximity to an area that has yielded historical production of cobalt and silver.

The Mulligan project is also located in Ontario, and grab samples have yielded up to 12.6 per cent cobalt and 39.7 grams per tonne silver. The deposit contains six parallel polymetallic veins, 16 metres apart across a strike length of 150 metres.

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