Meteoric Resources NL (ASX:MEI)
Perth, Mar 26, 2009 AEST (ABN Newswire) - Meteoric Resources NL (ASX:MEI) has confirmed priority right of application over a large, 10km x 8km gold anomaly identified by the Geological Survey of WA (GSWA) in the West Arunta region of the Gibson Desert.
The anomaly was identified by a helicopter-supported regional geochemical sampling programme carried out by GSWA following field work by Geoscience Australia which highlighted the copper-gold and gold potential of the Mt Webb area in the western part of the Arunta Complex which extends from the NT to WA. The Arunta Complex comprises an extensive sequence of Proterozoic metamorphic rocks intruded by granites. Meteoric congratulates the GSWA on this initiative which has stimulated greenfields exploration in this unexplored terrane. Details of the GSWA geochemical
survey are described in the Appendix.
Meteoric has applied for three exploration licences totalling 760sq km covering geochemical anomalies and other targets identified outside the GSWA survey area. No record of previous exploration in these areas has been found and the areas appear to be totally unexplored.
The main anomaly is based on regolith samples taken on a grid cell of 5km x 2.5km equating to sample centres of about 3.5km or one sample per 12.5sq km. This widespaced sampling has defined a coherent gold anomaly some 10km x 8km in area with gold-in-soil values ranging from 10 to 20 x background (1ppb Au) and one lag sample containing 403ppb Au (0.4g/t Au). This gold anomaly is the largest and most coherent gold response detected by the 6,500sq km GSWA survey.
Importantly, the Webb anomaly is supported by a large number of other anomalous elements including As, Cu, Zn, U, Co, Sn, Sc, Ce, Nd, Sm, Tl, Y, La and Ni. Some of these associated anomalies (such as arsenic, cobalt, tin and scandium) are 20km in length.
The large extent and multi-element nature of the anomalism shows characteristics similar to those shown by large hydrothermal alteration and mineralisation systems. For example, of 18 anomalous elements associated with the 20Moz Telfer gold system 17 are present at anomalous levels at the Webb anomaly (however the geological and regolith setting of the anomaly is not well understood and no direct comparison can be made to Telfer at this stage). The area is extensively covered by sand and colluvium although small outcrops of granite intruding metamorphic rocks have been mapped close to the anomaly.
Significantly, aeromagnetic data indicates the Webb anomaly area to be structurally complex with at least three distinct cross cutting structures evident. In addition, data from a regional 2.5km-spaced gravity survey shows a gravity ridge coincident with the major cross-cutting aeromagnetic structure through the centre of the Webb anomaly.
The three Meteoric tenements occur within the remote Ngaanyatjarra aboriginal reserve which in the past has created difficulties in gaining access for mineral exploration.
However, Meteoric is encouraged by recent announcements of negotiated access and exploration activity within the reserve by other mineral exploration companies.
The directors of Meteoric are excited by the excellent potential of this very large, previously unrecognised gold and multi-element target and have initiated discussions regarding access to this highly prospective and unexplored area.
Appendix
Sampling and Analytical Procedures of the GSWA West Arunta Geochemical Sampling Programme (source: GSWA Record 2008/2)
The West Arunta geochemistry programme involved collection and analysis of regolith samples from 522 sites, 33 of which were collected in duplicate, and one in triplicate. A total of 557 samples were analysed for 44 elements. Samples of surface lag were collected at 23 sites and subsequently analysed. All analyses were carried out by Kalassay Laboratories, Midvale. Perth.
Samples were collected at a nominal density of 12.5sq km, based on a grid cell of 5 x 2.5km during July-August 2007. At each site, 4-5kg of regolith was collected from a pit excavated to a depth of 20-25cm. A representative part of each sample was subsequently dry screened to -2mm by Kalassay Laboratories, with this fraction milled to a nominal particle size of -75 microns in a low-Cr steel mill. A representative pulp aliquot was digested using aqua regia and analysed by inductively coupled plasma mass spectrometry (ICP-MS) or inductively coupled plasma optical emission spectrometry (ICP-OES).
Where available, a sample of surface lag was collected. Lag was dry screened to -5mm by Kalassay Laboratories then milled to a nominal particle size of -75 microns in a low-Cr steel mill. A representative pulp aliquot was either fused and then subjected to multi-acid digestion, or digested by aqua regia (for analysis of Ag and Hg). Forty one elements were analysed by ICP-MS or ICPOES and three elements (Au, Pd and Pt) were analysed by lead collection fire assay and ICP-MS.
Throughout the analytical programme analytical quality was monitored by analysis of both GSWA and Kalassay-generated QAQC procedures, involving analysis of sample duplicates, blanks and reference materials.
About Meteoric Resources Nl
Meteoric Resources NL (ASX:MEI) is a Perth based rare earth company that is progressing its flagship Caldeira Project in Minas Gerais, Brazil and aims to become Brazil’s next rare earth producer. The Caldeira Project is a true Ionic adsorbed Clay (IAC) deposit with above industry TREO grades and excellent metallurgical recoveries using a standard Ammonium Sulphate (AMSUL) wash flowsheet. These grade and recovery characteristics allow a simple flowsheet to be developed to produce a Mixed Rare Earth Carbonate (MREC) with an anticipated low capital and operating costs. Meteoric aims to become a significant volume, low-cost producer and is committed to supporting and integrating into western supply chain opportunities.
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