Meteoric Resources survey identifies 18 cobalt targets in Canada
15 of the targets are at Mulligan East and 3 are at Iron Mask, sampling is the next step.
Company
ASX:MEI
Meteoric Resources is an Australian company rapidly growing and developing the Caldeira Rare Earths Project in the state of Minas Gerais in Brazil. The company has outlined a world-class ionic absorption clay rare earths deposit and is progressing approvals and development studies to support a future investment decision.
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15 of the targets are at Mulligan East and 3 are at Iron Mask, sampling is the next step.
The targets are near surface and interpreted to be highly prospective for cobalt and polymetallic mineralisation.
The disposal will allow the company to focus on its high-grade, Ontario-based cobalt projects.
The company is focused on its portfolio of exploration projects in Canada.
Pre-drilling exploration at Joyce shows highly prospective sulphide targets.
The project is prospective for copper, cobalt and gold.
Disappointing results from Mulligan but focus shifts to shoring up new geophysical targets.
A historical 8-tonne bulk sample from the Mulligan project averaged 10% cobalt grade.
Assay results from the drill program are due in late September.
The company aims to generate drilling targets from the VTEM survey over the Iron Mask, Mulligan East and Beauchamp projects.
The company plans to test seven chargeable induced polarisation-modelled anomalies and historically-worked ground.
A geophysical survey was used to identify seven drill targets.
The survey has defined numerous highly prospective targets ahead of the first drilling program.
Meteoric Resources has high grade cobalt in a safe jurisdiction
The Lorrain project contains a number of historical cobalt-silver mine shafts and has visible cobalt mineralisation.
Recent rock chip samples collected by vendors returned grades up to 1.6% cobalt.
The halt will remain in place until Tuesday 28th November 2017.
Meteoric has traded close to 47 million shares by 3pm.
Meteoric has also traded 34 million shares by midday.
The halt will remain in place until Monday 22nd May 2017.