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METEORIC RESOURCES NL

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MAIDEN DRILL PROGRAM COMPLETED AT MULLIGAN

ASX Announcement 13 August 2018


  • 11 diamond drill holes completed at Mulligan Cobalt Project for a total of 970m 
  • Multiple holes intersected targeted fault structures and mineralised veins 
  • Tony Cormack travelling to site to co-ordinate Mulligan sampling/assaying of diamond core with assay results due in late September 
  • 3D Geological/structural model to be constructed 
  • Drilling programs planned for Burt, Lorrain and Joyce Cobalt Projects and airborne geophysics commencing at Iron Mask, Mulligan East and Beauchamp

Meteoric Resources NL (ASX: MEI; “Meteoric” or the “Company”), a Canadian cobalt focussed explorer, announces the completion of its maiden drill program at the Company’s 100% owned Mulligan Cobalt Project located in Ontario, Canada.

11 diamond drill holes were completed for a total 970m at Mulligan. All drilling was completed as orientated NQ core, with many of the holes intersecting the targeted fault and vein structures (see figures 1 & 3).

Meteoric’s cobalt expert Tony Cormack is now travelling to Mulligan to view the core and co-ordinate the sampling program with assay results due in late September. All the core drilled was orientated, thus allowing for a 3D geological/structural model to be developed, which will be used to guide followup drilling at the Mulligan.

Meteoric Resources MD, Dr Andrew Tunks commented: 

“Meteoric’s maiden drilling program at Mulligan of 11 holes has now been safely completed. Our drilling contractors G4 Forage were outstanding, and along with fantastic field support from Orix Geoscience, the program has been completed ahead of schedule. Tony is currently travelling to site to conduct logging of the core, conduct sampling and generate a 3D model for Mulligan and plan for follow-up drilling.

“With results from the drilling eagerly awaited along with our extensive airborne program commencing across multiple projects and drilling planned for Burt, Lorrain and Joyce, we certainly have a lot ahead of us and have demonstrated that we have the right team in place to execute.”

Click here to view the full announcement

GEOPHYSICAL SURVEYS TO COMMENCE AT IRON MASK, MULLIGAN EAST & BEAUCHAMP COBALT PROJECTS

ASX Announcement 8 August 2018 


  • Airborne VTEM plus geophysical surveys to commence at Meteoric’s three largest cobalt projects 
  • 714 line-kilometres of airborne survey to be completed at Iron Mask, Mulligan East and Beauchamp Cobalt Projects 
  • Defined VTEM anomalies to be modelled in 3D and immediately followed by advanced exploration activities, including drilling

Meteoric Resources NL (ASX: MEI; “Meteoric” or the “Company”), a Canadian cobalt focussed explorer announces that it has contracted Geotech Limited to commence a 714 line-kilometre airborne VTEM (Versatile Time Domain Electro Magnetic) survey over the Company’s 100% owned Iron Mask, Mulligan East and Beauchamp Cobalt Projects located in Ontario, Canada.

The VTEM system is the most innovative and successful airborne electromagnetic system to be introduced in more than 30 years. The system is coupled with a high dipole moment transmitter which provides unparalleled resolution and depth of investigation. Geometrics split-beam magnetic sensors will also be utilised on the survey. These sensors will perform continuously in areas of high magnetic gradient to accurately define the Nipissing Diabase in the sub-surface.

Anomalies defined by the VTEM airborne survey will be modelled in 3D and provide Meteoric with well defined, high resolution geophysical targets, allowing for advanced exploration activities to occur at all three project locations.

Meteoric Resources MD, Dr Andrew Tunks commented: 

“With drilling at Mulligan well underway it is crucial we fast track our summer exploration work by commencing airborne surveys across our three largest cobalt projects in Ontario. We have found that the cost of flying airborne VTEM surveys in Canada is extremely cheap when compared to other locations globally and given Iron Mask, Mulligan East and Beauchamp cover over 60 km2 of ground prospective for cobalt mineralisation, flying the chopper survey as a first pass is a very cost-effective method for generating targets.”

“In quick time the airborne survey will provide us detailed results on the potential for mineralisation in the sub-surface and allow our field crews to continue to complete our target generation for advanced exploration activities, including drilling at our other projects.”

Click here to view the full announcement

JUNE 2018 QUARTERLY ACTIVITIES REPORT

ASX Announcement 27 July 2018 


  • Canadian Cobalt Portfolio strengthened with three further highly prospective acquisitions 
  • Target generation exploration program across portfolio of projects began following commencement of Canadian field season 
  • Geophysics program at Mulligan completed identifying multiple IP targets - results exceeding Company expectations 
  • Maiden drill program commenced following end of the Quarter

Meteoric Resources NL (ASX: MEI; “Meteoric” or the “Company”), a Canadian cobalt focussed explorer is pleased to provide shareholders with an operational update for the three-month period ending 30th June 2018.

During the quarter, with the arrival of the Canadian field season, the Company has commenced its target generation exploration program across its Ontario portfolio of cobalt assets.

ACQUISITIONS 

During the quarter, Meteoric acquired three projects to further strengthen its Canadian Cobalt portfolio in both East (Beauchamp and Lorrain Projects) and West Ontario (Joyce River Project). The Company now has a portfolio of seven cobalt projects; six with potential for high grade cobalt mineralisation in areas of Eastern Ontario historically known for silver and cobalt production, including the Cobalt town region and one in West Ontario, targeting high-grade cobalt-copper-gold mineralisation.

Meteoric is currently focussed upon systematically working through target generation across its entire cobalt portfolio, with its initial drilling having commenced at the Mulligan Project following the end of the Quarter.

East Ontario

Mulligan Cobalt Project 

Work program to date highlights: 

  • Maiden drill program commenced following the end of the Quarter 
  • Ground based Geophysics program including induced polarisation (“IP”), resistivity and magnetics completed 
  • Multiple IP targets identified highly prospective for cobalt rich polymetallic veining and confirm previous mapped controlling structures and soil/rock geochemistry 
  • Grab sample assays grading up to 9.71% Co, 16.5 g/t Ag, 14.3 g/t AuM1 
  • Samples collected by the Ontario Department of Mines in 1952, yielded 12.6% cobalt, 1.03% nickel, 29.76 g/t gold and 39.69 g/t silver M2 
  • Samples collected by Conwest Exploration yielded 19% cobalt and 56.69 g/t gold M1 
  • Bulk sample of eight tons extracted from the area graded an average of 10% cobalt M1 
  • Visible cobalt bloom (erythrite) and cobaltite in grab samples from historic mining rock dump at Mulligan

Line cutting and closely spaced (100m lines with 25m centres) IP/Magnetics/Resistivity ground-based geophysics were completed at Mulligan, followed by data processing and a 3D interpretation. Drilling commenced following the end of the quarter.

The mineralisation at Mulligan is geologically similar to the historic cobalt and silver deposits of the prolific Cobalt Mining Camp. Mineralisation occurs within veins associated with the Nipissing Diabase/Huronian sediment contact. Historically the Cobalt Mining Camp, located 50km to the south, was the most prolific cobalt province in Canada.

Click here to view the full announcement

MAIDEN DRILLING TO COMMENCE AT MULLIGAN

ASX Announcement 23 July 2018 


  • Drill rig has safely mobilised to the Mulligan Project - drilling to commence immediately 
  • Maiden cobalt drill program comprises 16 diamond core holes for 1,570m
  • Drilling targeting seven prospective high chargeability IP anomalies and historic workings
  • Previous results from area include: 
    • Grab sample assays grading up to 9.71% Co, 16.5 g/t Ag, 14.3 g/t AuM1 
    • Samples collected by the Ontario Department of Mines in 1952, yielded 12.6% cobalt, 1.03% nickel, 29.76 g/t gold and 39.69 g/t silver M1 
    • Samples collected by Conwest Exploration yielded 19% cobalt and 56.69 g/t gold M1 
    • Bulk sample of eight tons extracted from the area graded an average of 10% cobalt M1

Meteoric Resources NL (ASX: MEI; “Meteoric” or the “Company”), a Canadian cobalt focussed explorer announces that its maiden Mulligan Project drill program is commencing immediately with the diamond drilling equipment now safely mobilised to site.

As recently announced (ASX Announcement 5th July 2018) Meteoric is to commence its maiden cobalt drilling program at its 100% owned Mulligan Project, Ontario Canada, consisting of an initial 16 holes for 1,570m of NQ diamond core drilling. The focus of the drill program is to test seven highly chargeable IP modelled anomalies, identified by Meteoric through a recent ground-based IP survey across the Project. The drilling program should take two to three weeks to execute with assay results to follow.

Meteoric Resources MD, Dr Andrew Tunks commented: 

“We are thrilled to be commencing our maiden drilling program at Mulligan, which is the culmination of an intense target generation program completed on the ground in Canada by the Meteoric team. The Mulligan project includes significant historical workings along with seven new geophysical targets and is an ideal place to complete our first drilling program.

“With the drill rig now on site, we can truly commence advanced exploration and we look forward to following up the maiden Mulligan program with further drilling across our entire Canadian portfolio comprising 7 very exciting projects.”

Click here to view the full announcement

MULLIGAN MAIDEN DRILL PROGRAM FINALISED

ASX Announcement 5 July 2018 


  • 16-hole maiden drill program (1,570m NQ) confirmed for the Mulligan Cobalt Project 
  • 7 high chargeability polymetallic anomalies to be drill tested 
  • 3D induced polarisation anomalies modelled to a depth of 500m below surface 
  • Award of drilling contract and mobilisation to site expected in the coming weeks

Meteoric Resources NL (ASX: MEI; “Meteoric” or “the Company”), a Canadian cobalt focussed explorer, announces the finalisation of a 16-hole maiden drill program (see Figure 1 & Table 1) for its 100% owned Mulligan Cobalt Project, located in East Ontario, Canada.

The Company 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.

1,570 metres of NQ diamond core drilling has been planned to test the 7 highly chargeable IP modelled anomalies. Award of the drilling contract and mobilisation to site is expected to commence in the coming weeks. All drilling will be angled diamond holes designed to intersect the IP anomalies between 30 to 90 meters below surface.

Click here to view the full announcement



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