Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

Meteoric Resources to begin drilling to follow up high grade intersections at Tibooburra

Meteoric Resources (ASX: MEI) will begin a 6,000 metre rotary air blast drilling program next week at the Tibooburra gold project in northwest New South Wales to follow up on shallow high grade gold intersections.

As previously announced, initial drilling intersected shallow, high grade gold mineralisation at New Bendigo, including 20 metres at 5.22 grams per tonne (g/t) gold from 8 metres and 4 metres at 11.33g/t from 36 metres.

Drilling also uncovered previously unrecognised gold mineralisation at Kink some 6 kilometres south of New Bendigo.

The rotary air blast drilling program is aimed at defining the extent of the 300 metre long open-ended zone of mineralisation at New Bendigo, as well as testing the undrilled western zone of gold diggings at New Bendigo and the extent of 1 kilometre spaced gold intersections at Kink below shallow cover.

The targets at New Bendigo occur within a 4 kilometre long gold anomaly and drilling will test a 2.3 kilometre long priority zone associated with gold diggings and/or soil covered areas within this anomaly.

At Kink the drilling will span the entire length of a 4.5 kilometre long gold anomaly, bringing the total strike length to be tested to 6.8 kilometres.

Very little modern exploration has been completed at Tibooburra, with only two of the numerous vein systems identified in the district drilled previously, and no drilling below a depth of 60 metres.

Both the New Bendigo and Kink prospects, each undrilled prior to Meteoric’s initial program, occur in proximity to a mapped regional fault structure, the New Bendigo Fault, which extends for some 40 kilometres within the project tenements.

Coorara Iron

Meteoric has completed a 31-hole, 984 metre shallow reverse circulation drilling program as part of its initial reconnaissance program at the Coorara iron project in the South Yilgarn iron province.

The program is designed to test for hematite-goethite alteration and enrichment of a magnetite banded iron formation (NYSE:BIF) which can be traced for 40 kilometres within the project tenements.

Drilling targeted areas where surface sampling has indicated grades in excess of 50% iron, with potential for direct shipping ore (DSO) grade material.

Meteoric is awaiting sample analyses from the drilling program. In the meantime the company has taken a series of surface and drill samples of fresh magnetite BIF and submitted them for Davis Tube Recovery tests as a first step in assessing the magnetite potential of the project.