Meteoric Resources Ltd (ASX:MEI) has defined nine strong electromagnetic (EM) cobalt-copper-gold targets anomalies at its Joyce Cobalt Project in Ontario, Canada.
The targets were generated from 3D geophysical modelling of the 2012 AeroTEM survey data.
Positively, all anomalies are coincident with regional magnetic highs and outcropping massive sulphide mineralisation mapped across numerous prospects.
READ: Meteoric Resources seeks to prioritise cobalt targets at Canadian tenements
Meteoric’s manaing director Dr Andrew Tunks said: “We are excited about what our target generation program has highlighted to date at Joyce, with the modelling of the AeroTEM data defining nine distinct EM targets linked to polymetallic geochemical anomalies covering over 1.8 kilometres of strike.
“We will shortly be commencing an extensive program of surface sampling over the anomalies aimed at further defining targets before proceeding to drilling.”
High-grade potential confirmed by historical assays
A recent site visit to Joyce by Tony Cormack observed massive sulphide mineralisation and an extensive rock chip sampling program is set to commence immediately.
Notably, high-grade historical assays taken from the project graded 11.0% copper, 0.3% cobalt and 8.07 g/t gold further confirming the project’s potential.
READ: Meteoric Resources developing Canadian cobalt portfolio
The 100% owned Joyce Project is one of seven cobalt projects located in the Canadian state of Ontario.
Dr Tunks added: “Our team is running an extensive data collection and compilation program across the portfolio and each of the projects contained within are independent of one another and we anticipate our target generation and drilling programs to uncover different results at each.
“We will continue to update our shareholders as we progress our target generation to firm up our next priority drilling targets across the portfolio.”