• 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 diam WWW.METEORIC.COM.AU • ASX: MEI •ABN 64 107 985 651 Figure 2: Plan view of the Mulligan Cobalt Project 16 Hole (1,570m NQ) Maiden Drill Program and IP inversion model 1 2 3 4 5 6 9 10 & 16 11 12 13 & 15 14 7 8 WWW.METEORIC.COM.AU • ASX: MEI •ABN 64 107 985 651 Table 1: 16 Hole / 1,570m Maiden NQ Diamond Drill Program for Mulligan Cobalt Project, Ontario Canada. Note hole numbers are indicative only and change depending on order in which holes are drilled.
Meteoric Resources MD, Dr Andrew Tunks commented: “The finalisation of the drill program is a culmination of the hard work our team has put in on the ground in Canada, led by our cobalt expert Tony Cormack, since the beginning of the field season and we are very excited to be commencing our maiden drilling program at Mulligan.
We have diligently and systematically been working through target generation across our entire Canadian cobalt portfolio and whilst we kick off with drilling at Mulligan, we will continue to advance our other projects through both air and ground geophysics programs “As I have said many times before, drilling for an exploration company like Meteoric is truly the most exciting stage, as it is the only through drilling, that you can make a discovery.”
Next Steps
Airborne Geophysical programs are scheduled to commence at Iron Mask and Mulligan East, with ground geophysics at Burt, Joyce Lake and Lorrain set to follow. These programs will generate drill targets that will be ranked and drill tested over the coming months".
Not too bad, least there's movement in the wings
MEI Price at posting:
2.9¢ Sentiment: Buy Disclosure: Held
