Each one in plain English, with the numbers worked through for a shareholder.
13 Jan 2010drilling result▼ BadMajor
Meteoric's Webb sampling could not repeat the Geological Survey's strong gold values, and 112 shallow RAB holes (1,091m) found no significant gold. That undercuts the 80sq km gold anomaly thesis. A 3km-long IOCG gravity and magnetic target now becomes the focus, with drilling envisaged for March or April 2010.
23 Nov 2009farm in farm out agreement▲ GoodMajor
Sipa Resources enters a farm-in with Meteoric over Tennant Creek tenements (about 150sq km). Sipa can earn 51% by spending $600,000 in three years, or 70% for $1.2m in five years. This advances Meteoric's plan to farm out non-core projects.
20 Oct 2009drilling result▲ Good
Sampling on the Beadell JV ground found a 7km-long gold anomaly in the southern Webb area, peaking at 4.9ppb gold against under 1ppb background. Further sampling and, subject to permits, scout drilling are planned. Early-stage result, not a drill intersection.
31 Aug 2009farm in farm out agreement▲ GoodMajor
Agreement in principle with Beadell Resources on four licences (840sq km) near Webb. Meteoric can earn 51% by spending $400,000 within three years, and up to 70% with a further $400,000. It must complete 7,000m of drilling within the first year.
31 Aug 2009farm in farm out agreement● Neutral
Beadell's own announcement of the Lake Mackay farm-in with Meteoric, repeating the terms already released: 51% for $400,000 in three years, up to 70% with a further $400,000. It adds that Beadell won an $86,000 WA government drilling subsidy.
17 Aug 2009farm in farm out agreement▲ GoodMajor
Agreement in principle with Cazaly's subsidiary Sammy Resources on four licences near Webb with copper-gold (IOCG) targets. Meteoric can earn 70% by drilling 1,000m within three years, or 90% by issuing $300,000 of shares. Subject to native title holder consent.
30 July 2008farm in farm out completion● NeutralMajor
Meteoric has reached the 30% earn-in on the Image joint venture (Scorpion Well, Mt Remarkable, Top Well) and elects to go to 51% by spending a further $200,000 by late 2010. Robinson Range suffered a setback as the Jidi Jidi Aboriginal Corporation rejected the amended heritage agreement.
31 Oct 2007resource reserve update▲ GoodMajor
First Harrods South resource: 545,000t at 1.5g/t gold (27,000oz, all Inferred). Combined with Harrods Central, the Harrods total rises to 61,600oz. Cash is $1.7m after an investment sale; economics are being assessed given the improving gold price.
5 Oct 2007drilling result▼ Bad
Rutherfords Find assays are weak: best 2m at 3.32g/t, and the company says grades are unlikely to be economic at current gold prices. Deeper Harrods Central holes confirm mineralisation to 150m but missed the earlier 20g/t+ high grades. Scorpion Well shows nickel-copper hints.
30 Aug 2007drilling result● Neutral
Three Rutherfords Find holes (624m) hit quartz veins and silica alteration 150m to 170m deep, 50m to 100m below earlier intercepts, with the thickest 14m of alteration. These are geological descriptions only; gold assays are still awaited.
23 Aug 2007drilling spud● Neutral
Drilling has started at Rutherfords Find, Bullfinch: three holes, 500m, below the earlier 4m at 10.5g/t. The rig then moves to Harrods Central deeper targets, and a 3,500m aircore programme at Scorpion Well starts within a week.
27 Mar 2007resource reserve update▲ GoodMajor
First resource estimate for Harrods Central: 712,000 tonnes at 1.5g/t gold, over 34,000oz (452,000t Indicated, 260,000t Inferred). Deeper high-grade targets starting about 120m down will be drilled when a rig is available. Open pit optimisation studies are being prepared.
11 Jan 2007drilling result▲ GoodMajor
The 52-hole, 3,280m RC programme at Harrods Central is finished, with best results of 2m at 11.7g/t and 2m at 9.4g/t, confined to about 50m depth. Mineralisation is open to the east and south. Consultants will model a near-surface resource by end February 2007.
14 Nov 2006farm in farm out agreement▲ GoodMajor
Meteoric can earn up to 70% of three Image Resources gold projects (Scorpion Well, Top Well, Mt Remarkable) by spending $700,000 over six years. The first 30% needs $300,000 within two years, with a $150,000 minimum before withdrawal.
14 Nov 2006farm in farm out agreement● Neutral
Image Resources' side of the same deal: it farms out the three gold projects (244 sq km) to Meteoric to focus on mineral sands. Same terms as Meteoric's release, up to 70% for $700,000 within six years. Nothing new.
20 Sept 2006drilling scheduled▲ Good
A 3,000m RAB programme starts this week at Bluebird in the Barkly joint venture near Tennant Creek, following an earlier hit of 8m at 1.0% copper. Meteoric has earned 51% and can reach 70% by spending $200,000 by November 2009.
26 July 2006drilling result▲ GoodMajor
The close-spaced 54-hole RC programme at Harrods Central is finished, with best results of 7m at 13.4g/t and 10m at 7.1g/t. Mineralisation shapes can now be interpreted with some confidence; the two panels are under 20% of the area, and a major drill-out is likely in the September quarter.
22 Mar 2006drilling result▲ Good
Further 1m RC results at Harrods Central include 2m at 12.9g/t and 1m at 12.5g/t. Meteoric has now drilled 72 holes there, and the 3,000m close-spaced RC programme was delayed by rain and is due to start within a week.
18 Jan 2006drilling result▲ Good
More 1m RAB results at Harrods include 6m at 31.2g/t (with 1m at 182.8g/t) and 5m at 7.2g/t. The 6m hit may extend the new Harrods South zone, which supports the earlier result; one earlier high-grade 4m sample did not repeat well.
10 Jan 2006drilling result▲ GoodMajor
Final RAB assays at the 90%-owned Wilthorpe project define a new 800m-long gold zone at Harrods South, with best results of 8m at 9.7g/t and a 1m hit of 140.5g/t. RC drilling at Harrods Central also confirmed gold, including 4m at 18.8g/t.
