Meteoric Resources NL (ASX:MEI) Quarterly Activities Report For June 2009
Perth, July 31, 2009 AEST (ABN Newswire) - As recently updated (MEI ASX release 3 June 2009), Meteoric Resources NL (ASX:MEI) has signed an exploration and land access agreement for terms of access to the Ngaanyatjarra aboriginal reserve, paving the way for grant of exploration licence E80/4234 over the Webb gold project situated in the West Arunta region of Western Australia. Terms of access for Meteoric's other tenements in the region remain to be finalised.
Following the signing of the access agreement, a helicopter supported heritage survey has been carried out over E80/4234 with the objective of clearing areas for Meteoric's proposed exploration programme and identifying any areas of cultural sensitivity. A report from the anthropologists who supervised the survey is in preparation but has not yet been received. The exploration licence is expected to be granted in August or September, with field work planned to commence at that time once permitting has been completed. A programme of ground magnetic surveying, geochemical sampling and scout drilling is planned, to carry out the first-pass assessment of the 80sq km gold anomaly identified in regional sampling by the Geological Survey of WA. This outstanding gold target is totally unexplored and is considered to have excellent potential for gold discovery.
Meteoric has applied for an additional tenement (E80/4260) to cover structural and geophysical targets and the possible eastern extensions of the anomalous geochemical trends on the adjacent Webb tenement. This new application brings Meteoric's tenure in the area to 835sq km, covering structural, geophysical or geochemical targets in addition to the main Webb target, as shown in the attached map.
ROBINSON RANGE (Meteoric 100%)
The Robinson Range iron project covers a 13 km-long folded sequence of Proterozoic iron formations in the mid west iron province of WA. Historical oregrade sampling results indicate significant potential for deposits of direct shipping-grade hematite and goethite deposits on these tenements.
Following the signing of an aboriginal heritage agreement in the March 2009 quarter, negotiations are continuing regarding the terms of the heritage surveys and other ongoing costs.
BARKLY JV (Meteoric 70%)
As previously reported Emmerson Resources has assumed management and sole funding of this copper-gold project near Tennant Creek, with Meteoric electing to dilute its interest.
SCORPION WELL (Meteoric 37.5%)
Meteoric has elected to cease sole funding of this nickel prospect and dilute its interest. Joint venture partner Image Resources is planning a ground EM survey to test an interpreted Kambalda-style ultramafic channel target for nickel sulphide conductors.
MT REMARKABLE (Meteoric 37.5%)
As above, Meteoric has elected to cease sole funding and dilute its interest in this gold project. Image Resources is planning a RAB drilling programme to test a gold anomaly identified by Meteoric, subject to completion of an aboriginal heritage survey.
WARREGO NORTH (Meteoric 100%)
Discussions are being held regarding the possible farm-out of this copper-gold project north of Tennant Creek.
TOP WELL
This tenement was excluded from Meteoric's joint venture with Image Resources with Meteoric retaining no interest
For more information on the company visit:
www.meteoric.com.au
For the Meteoric Resources Quarterly Activities Report for June 2009, please click the link below:
http://www.abnnewswire.net/media/en/docs/61175-ASX-MEI-454506.pdf
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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