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Meteoric holds three granted exploration licence and
rights to earn 90% of a further granted licence in the
unexplored West Arunta region of WA. The tenements cover
a cluster of more than 280 discrete circular magnetic
anomalies identified from regional aeromagnetic surveys.
The character of the anomalies is consistent with that
associated with some kimberlite pipes in Archean cratons
and Proterozoic mobile belts. Kimberlites are favourable
host rocks for diamonds. Under the terms of a joint
venture agreement, diamond explorer GeoCrystal Ltd has
earned 70% of Meteoricís interest in the tenements.
Drilling has intersected 50 kimberlite bodies out of 64 targets tested, confirming potential for a large 400sq km kimberlite field in the Gibson Desert, making it the first significant discovery of kimberlite pipes in Australia in more than 20 years.
An extensive high resolution aeromagnetic survey has been completed, identifying more than 280 targets.
The drilling has only tested a small proportion of the targets identified.
11 microdiamonds have been recovered from loam sampling across the field, including a cluster of 6 microdiamonds in an 8km-long anomalous zone in the north part of the field.
The Meteoric-GeoCrystal joint venture has increased its tenement holding from 500sq km to 1,000sq km to cover additional kimberlite targets in the region.
Further drilling to test priority targets is in preparation.