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METEORIC RESOURCES NL — Interim / Quarterly Report 2013
Jul 23, 2013
65311_rns_2013-07-23_3322d36c-4706-4dc0-af51-fcfc1e818780.pdf
Interim / Quarterly Report
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QUARTERLY REPORT for the Quarter Ended 30 June 2013
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Meteoric Resources NL ABN 64 107 985 651
ASX Codes: MEI and MEICA
16 Ord Street West Perth WA 6005
T +61 8 9485 2836 F +61 8 9485 2840 E [email protected]
PO Box 963 West Perth WA 6872
Issued Capital : Shares - Quoted:
85,113,867 fully paid shares 27,504,527 contributing shares
Options - Unquoted: 2,580,000 options exercisable at $0.2249 by 23.12.2014 230,000 options exercisable at $0.2370 by 21.12.2015 2,550,000 options exercisable at $0.0915 by 27.12.2016
BARKLY (Meteoric mostly 100%)
Meteoric Resources is currently negotiating to farm out this copper-gold project near Tennant Creek in order to fund further drilling of the Bluebird mineralisation.
Meteoric’s geochemical sampling, geophysical surveys and drilling have confirmed the presence of a 600m-long target zone (open to the east) associated with a pronounced gravity ridge at Bluebird. Drill intersections obtained to date include 8m @ 1.0% Cu and 0.29g/t Au from 72m to end of hole in RAB hole TBRB-717 and 4m@ 4.69% Cu and 0.38g/t Au from 115m in RC hole BBRC-2.
TIBOOBURRA (Meteoric 51%)
Negotiations for the sale of Meteoric’s interest in this gold project 300km north of Broken Hill, NSW, have not been completed. As a result, Meteoric is progressing its joint venture with Awati Resources Pty Ltd.
WEBB (Meteoric 100% and right to acquire 90% of E80/4506)
Meteoric holds 500sq km of tenements in the unexplored West Arunta region of WA covering some 50 discrete, circular, ‘bullseye’ aeromagnetic anomalies interpreted to reflect a possible kimberlite or lamproite pipe field. Under the terms of a farmin agreement diamond explorer GeoCrystal Limited may earn up to 70% of Meteoric’s interest by expenditure of $1.5M within four years.
Directors:
Michael Robson Non-Executive Chairman
Graeme Clatworthy Executive Director
George Sakalidis Non-Executive Director
Neville Bassett Non-Executive Director Peter Thomas Non-Executive Director
During the quarter an initial programme of aircore drilling was commenced in order to test selected aeromagnetic targets. Seven magnetic anomalies were each tested with a single centrally located drill hole for a total of 519m. Two holes failed to achieve target depth due to drilling difficulties, with the remaining drill holes, testing five discrete anomalies, terminating in deeply weathered olivine-bearing ultramafic volcanic rocks. As the drill programme was terminated prematurely because of the drilling difficulties, further drilling to complete the first pass testing is being planned for the next quarter
COORARA (Meteoric 100%)
Meteoric holds a 40km strike length of banded iron formations in the South Yilgarn iron province within trucking distance of the multi-user Trans Australian Railway. The iron formations have demonstrated potential for both goethite-hematite and magnetite iron ores.
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ROBINSON RANGE (Meteoric 100%)
No exploration was carried out during the quarter on this iron ore project in the Mid West iron province. Previous sampling has indicated ore-grade hematite-goethite outcrops of Proterozoic banded iron formation.
WILTHORPE (Meteoric 90%)
During the quarter Meteoric commenced discussions for the possible use of a mobile treatment plant to exploit a 61,000 oz gold resource at Harrods Central and Harrods South.
UNALY HILL SOUTH (Meteoric 100%)
Meteoric holds a 2km strike length of the Atley Ignous Complex, a layered mafic intrusion containing vanadium-bearing magnetite horizons. The tenement also covers a 4km strike length of the Youanmi Shear Zone which has demonstrated gold potential evident from wide spaced historical drilling.
WARREGO (Meteoric 100%, diluting)
During the quarter Sipa Resources withdrew from this joint venture. Meteoric is reviewing the results of Sipa’s aeromagnetic and radiometric survey completed over Meteoric’s tenements near the old Warrego copper-gold mine (1.3Mozs Au, 91Kt Cu) near Tennant Creek, NT.
CORTEGANA (Meteoric 100%)
Meteoric has applied for a 65sq km Investigation Permit over crystalline, coarse flake graphite occurrences and old graphite mines in the Aracena Metamorphic Belt, Huelva province, Spain. No modern exploration has been carried out in this old mining area and Meteoric anticipates that airborne EM techniques should be highly effective in identifying target areas for high grade graphite.
For more information on the company visit www.meteoric.com.au
Please direct enquiries to: Graeme Clatworthy George Sakalidis Director Director Phone (08) 9485 2836 Phone (08) 9485 2836 Mob 0418 902 341 Mob 0411 640 337
Competent Person’s Statement
The information in this report that relates to exploration results is based on information compiled or reviewed by Roger Thomson BSc, ARSM, MAusIMM, who is a Member of the Australian Institute of Geoscientists. Roger Thomson is a consultant to Meteoric Resources NL. Roger Thomson has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 edition of the ‘Australasian Code of Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Roger Thomson consents to the inclusion of this information in the form and context in which it appears in this report
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