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Warrego

 

   

 

  

Barkly

Meteoric holds an exploration licence covering the SE extension of the Tennant Creek Mineral Field (past production 5Mozs gold and more than 400,000t of copper). Meteoric has carried out an extensive programme of magnetic and gravity surveys followed by geochemical sampling. The sampling defined a 600m-long bedrock geochemical anomaly, open to the east, along strike form the shallow historical Bluebird workings. RAB drilling intersected 8m @1.0% Cu and 0.3g/t Au from 72m, follow up RC drilling intersected 4m @ 4.7% Cu and 0.38g/t Au from 115m, open at depth. The mineralisation is associated with a 1.6km-long gravity ridge interpreted to reflect hematite alteration, a favourable setting for high grade Tennant Creek-style copper-gold mineralisation.

Under the terms of a joint venture agreement Blaze International has earned a 50% interest. Drilling by Blaze has intersected high grade copper-gold mineralisation at Bluebird including 20m @ 8.17g/t Au, 0.61% Cu and 0.22% Bi from157m and 31m @ 2.48% Cu, 0.21g/t Au and 0.03% Bi from 116m. The mineralisation remains open at depth.

Perseverance

Meteoric holds a 68.43% interest in 9 granted mineral leases in joint venture with Emmerson Resources (31.57%). The tenements cover several outcropping ironstones associated with a pronounced aeromagnetic anomaly situated 1.4km along strike from the Bluebird prospect. The magnetic anomaly coincides with a series of discrete gravity anomalies situated adjacent to the Bluebird gravity ridge.

 

Drilling in 1987 intersected significant gold mineralisation including:

         PERC001: 3m @ 43.2gt Au from 72m

         PERC006: 4m @ 47g/t Au from 14m

         PERC009: 3m @ 3.3g/t Au from 77m

         PERC015: 3m @ 50.0 g/t Au from 42m

Copper and bismuth values are not recorded in this historical drilling. Much of the old drilling is less than 100m in depth and no drilling has been carried out on the tenement since 1997.   A permit has been obtained from the Aboriginal Areas Protection Authority to carry out geophysical surveys and drilling, excluding a 150m x 150m area around an aboriginal site. Meteoric is planning a detailed ground magnetic survey followed modelling of magnetic and gravity data to identify drilling targets.

 

Warrego North

 

This 100% owned project is situated immediately N and NW of the old Warrego mine (1.3Mozs gold and 91,500t copper), the largest mine in the Tennant Creek Mineral Field. Meteoric has identified a large 1km diameter coincident gravity and magnetic anomaly at Parakeet about 15km NW of Warrego. Modelling of the gravity and ground magnetic data over this large target has identified two major ironstone targets situated just below previous drilling in this area. The modelling indicates that the previous drilling has not tested these targets and appears to have intersected what could be the copper halo over a large copper-gold system at depth. The depth to the top of the targets is estimated to be 200m to 300m below surface.

 

In addition, a number of other gravity/magnetic targets have been identified at Bustard south of Parakeet and at Cuddihy and Pipeline north of Warrego. Also of significance is the Chook prospect SW of Parakeet where historical drilling is reported to have intersected up to 4m @ 2.4%Cu and 0.2g/t Au from 57m, open at depth. Bustard is situated on the projected extension of the Navigator Fault, an important structure trending through Warrego, while Parakeet is situated on an interpreted parallel structure.

 

Meteoric has entered a farmin and joint venture agreement with Bulletin Resources Ltd. The initial focus of the joint venture will be the Parakeet copper-gold-bismuth target.

 

Page updated 11 March 2015