Meteoric Resources NL provided an update on the current diamond drilling program at the Caldeira Project as well as its intentions for further exploration, resource delineation, and conversion.
On 6 May, 15 diamond drill holes totalling 457m of a planned 1,250m were finished. Willemita Sondagems Ltda moved on site on 4 April after the original drilling contractor was beset by poor drilling productivity. Twelve of the 15 holes done to date are twinning historical auger holes. The findings of the assays are pending and will be made public after the anticipated 1,250m program is completed.
According to Meteoric, the potential economic zone that may be leached by washing with ammonium sulphate in Ionic Clay Adsorbed REE mineralisation is restricted to the regolith profile’s clay zone. All REE elements are likely connected to primary mineralisation under the clay zone, in the partly weathered and fresh syenite (basement), and hence are not a target for the Company.
Significant depth extensions to the clay zone have been reported at the Figueira Prospect, where previous auger drilling stopped between 12m and 14.2m. The most notable was in diamond hole FGDD002, where the clay zone’s base was logged at 50m deep.
“Our current diamond drill program was designed to test the depth extent of the clay zone beneath historical drilling. Previous explorers employed a powered auger drill which only achieved an average depth of 6.9m across the project, with 85% of historic auger holes finishing in mineralisation above 1,000ppm TREO. Current drilling indicates an increase in the thickness of the target clay zone of up to 45m beneath the historic auger drilling. Clearly this shows that there remains considerable potential for additional REE mineralisation beneath the historic drilling,” Executive Chairman Dr Andrew Tunks said.
“The Company will drill 100,000m of aircore into the highest-grade areas of the resource to improve confidence in the resource estimate from Inferred category to Measured and Indicated in preparation for economic studies, as well as testing the true depth of REE mineralisation. To ensure these targets are met within a reasonable timeframe and budget the company will build its own drilling capacity in-house, purchasing a multi-purpose drill rig which will be set up to drill “aircore”. Aircore is a drilling method developed in Australia capable of providing high quality, uncontaminated samples in unconsolidated sediments and clay horizons. To enhance our capacity, we have employed a vastly experienced Manager of Drilling to commission the new Rig and mentor the operators and exploration team to ensure our drilling goals are met within budget and on time,” Tunks added.
Meteoric previously announced a significant drill program to increase MRE confidence from Inferred to Measured and Indicated for economic studies and test REE mineralisation depth. Rob McGaffin, an experienced drilling manager who handled over 200 people for African Mining Services (AMS) in Ghana, was hired as a first step. McGaffin selected a new Multi-purpose (Aircore) Drill Rig to ship to Brazil in May and commission on the Caldeira Project in June.
The new multi-purpose drill rig, backed by a track-mounted compressor, has a modest footprint and needs little site clearance, minimising environmental impact. Meteoric said the rig can drill 200m each shift into the target clay zone and has all the necessary spares. To meet Meteoric’s drilling schedule and budget, the Company will explore increasing drilling capacity under McGraffin’s supervision.
