Next Investors logo grey

Meteoric Resources kicks off maiden drill program, Canada


Published 23-JUL-2018 12:06 P.M.


2 minute read

Hey! Looks like you have stumbled on the section of our website where we have archived articles from our old business model.

In 2019 the original founding team returned to run Next Investors, we changed our business model to only write about stocks we carefully research and are invested in for the long term.

The below articles were written under our previous business model. We have kept these articles online here for your reference.

Our new mission is to build a high performing ASX micro cap investment portfolio and share our research, analysis and investment strategy with our readers.

Click Here to View Latest Articles

Canadian cobalt focused explorer Meteoric Resources NL (ASX:MEI) has informed the market that it will be commencing its maiden Mulligan Project drill program immediately, with the diamond drilling equipment now safely mobilised to site.

As foreshadowed in recent announcements, the company is to commence its maiden cobalt drilling program at its 100% owned Mulligan Project in Ontario, Canada. The program will consist of an initial 16 holes for 1,570m of NQ diamond core drilling.

The focus of the drill program is to test seven “highly chargeable IP modelled anomalies” identified by MEI through a recent ground-based IP survey across the project.

The drilling program should take two to three weeks to execute with assay results to follow.

Previous results from the Mulligan area include:

  • Grab sample assays grading up to 9.71% cobalt, 16.5 g/t silver, 14.3 g/t gold
  • Samples collected by the Ontario Department of Mines in 1952, yielded 12.6% cobalt, 1.03% nickel, 29.76 g/t gold and 39.69 g/t silver
  • Samples collected by Conwest Exploration yielded 19% cobalt and 56.69 g/t gold
  • Bulk sample of eight tons extracted from the area graded an average of 10% cobalt

MEI Managing Director Dr Andrew Tunks commented: “We are thrilled to be commencing our maiden drilling program at Mulligan, which is the culmination of an intense target generation program completed on the ground in Canada by the Meteoric team.

“The Mulligan project includes significant historical workings along with seven new geophysical targets and is an ideal place to complete our first drilling program. With the drill rig now on site, we can truly commence advanced exploration and we look forward to following up the maiden Mulligan program with further drilling across our entire Canadian portfolio comprising seven very exciting projects.”

It should be noted that MEI is in the early stages of its exploration here and investors should seek professional financial advice if considering this stock for their portfolio.

Oblique view of the Mulligan Cobalt Project 16 hole Maiden Drill Program.

General Information Only

S3 Consortium Pty Ltd (S3, ‘we’, ‘us’, ‘our’) (CAR No. 433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information and is for informational purposes only. Any advice is general advice only. Any advice contained in this article does not constitute personal advice and S3 has not taken into consideration your personal objectives, financial situation or needs. Please seek your own independent professional advice before making any financial investment decision. Those persons acting upon information contained in this article do so entirely at their own risk.

Conflicts of Interest Notice

S3 and its associated entities may hold investments in companies featured in its articles, including through being paid in the securities of the companies we provide commentary on. We disclose the securities held in relation to a particular company that we provide commentary on. Refer to our Disclosure Policy for information on our self-imposed trading blackouts, hold conditions and de-risking (sell conditions) which seek to mitigate against any potential conflicts of interest.

Publication Notice and Disclaimer

The information contained in this article is current as at the publication date. At the time of publishing, the information contained in this article is based on sources which are available in the public domain that we consider to be reliable, and our own analysis of those sources. The views of the author may not reflect the views of the AFSL holder. Any decision by you to purchase securities in the companies featured in this article should be done so after you have sought your own independent professional advice regarding this information and made your own inquiries as to the validity of any information in this article.

Any forward-looking statements contained in this article are not guarantees or predictions of future performance, and involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, and which may cause actual results or performance of companies featured to differ materially from those expressed in the statements contained in this article. S3 cannot and does not give any assurance that the results or performance expressed or implied by any forward-looking statements contained in this article will actually occur and readers are cautioned not to put undue reliance on forward-looking statements.

This article may include references to our past investing performance. Past performance is not a reliable indicator of our future investing performance.