viewMeteoric Resources NL

Meteoric Resources in trading halt ahead of assay results

The company’s securities will remain in trading halt until Wednesday September 18.

The Novo Astro project in Brazil has never been drilled
The Novo Astro project in Brazil has never been drilled

Meteoric Resources NL has what it describes as significant assay results pending and has been granted a trading halt by the ASX.

The halt will be in place until Wednesday, September 18, or when an announcement is released to the market, whichever occurs earliest.

Meteoric's shares last traded on Friday at 6.4 cents after reaching a 12-month high of 6.5 cents earlier in the day.

Novo Astro drilling

This month the company signed a contract with GEOSOL to begin the first-ever drill program at the Novo Astro Gold Project in Brazil.

The drill rig is expected to mobilise to the site within the next two weeks and drilling is expected to begin in late September.

In August managing director Andrew Tunks said recent mapping at Novo had recognised thick zones of alteration and mineralisation within basement rocks that have been the target of extensive artisanal mining.

Two rigs on site

He noted recent reconnaissance rock chip samples, which include five samples grading more than 1 g/t gold, confirmed mineralisation at multiple targets warranting immediate testing.

Grades of 8.75 g/t and 4.72 g/t along with 2.42 g/t and 2.21 g/t reinforce and exceed historical rock chip sampling results of up to 264 g/t.

Additionally, Meteoric’s ongoing diamond drilling program at the Juruena project on the Dona Maria prospect continues, with two rigs now on site working double shifts.

Quick facts: Meteoric Resources NL

Price: 0.041 AUD

Market: ASX
Market Cap: $50.48 m


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Meteoric Resources NL named herein, including the promotion by the Company of Meteoric Resources NL in any Content on the Site, the Company...



Meteoric Resources' Andrew Tunks looks ahead to drill program at new Palm...

Meteoric Resources NL (ASX:MEI) (FRA:RNF) managing director Dr Andrew Tunks caught up with Proactive's Andrew Scott following the news they're to acquire the past-producing Palm Springs project in WA’s Kimberley region. Palm Springs is an advanced exploration play with past production,...

3 weeks ago

2 min read