We’re here today with Marnus Bothma advisor to Meteoric Resources. Marnus thanks for your time. Are you able to share a little of the background of Meteoric Resources?
Audio Transcription
Marnus Bothma: [00:00:14] Meteoric has a few project joint ventures in Australia, gold and micro-diamonds, but we’ve recently gone into Canada and acquired some cobalt and copper poly-metallic nickel copper PGM projects.
David Tasker: [00:00:29] Are you able to expand a little bit on that acquisition?
Marnus Bothma: [00:00:32] Yes. The acquisition started with two projects, the Iron Mask and the Mulligan Cobalt properties. They both had historical work done on them with bulk samples and production at very high grades of up to 15 percent cobalt in one of the production runs. Then we picked up the Midrim La Force projects which are our Polymetallic projects in the Belleterre-Angliers Greenstone belt which is located in Quebec. These projects have intersected historically massively high grades of copper-nickel mineralisation. These are hosts within Gabbro Sills which intrudes into this greenstone belt and it grades from disseminated sulphide at the top down to massive sulphide. And the kind of grades we’ve got in historical exploration that was done on the property includes intersections of about 40 metres from around 30 metres depth. These intersections have grades of up to 3% copper, 2% nickel and around three to four grams PGE’s.
David Tasker: [00:01:39] And what attracted the company to these commodities?
Marnus Bothma: [00:01:42] The company was initially attracted to the Cobalt commodity projects due to the large rise in the cobalt price and the oncoming supply crunch problems with cobalt. So cobalt is obviously a good commodity to be in and with the price currently around $60,000 per tonne, it’s obvious anyone that can find a primary deposit will have something great on their hands. We’ve also picked up a copper nickel polymetallic project because of copper and the rise and nickel price so copper is sitting around above $6,000 a tonne now, which is well above its 10 year average. So this is definitely a plus on that project for us.
David Tasker: [00:02:24] And what are some of the key milestones investors should be focused on over the coming three to six months?
Marnus Bothma: [00:02:30] So with the acquisition that Meteoric made we have got a large geotechnical database this is covering the Midrim LaForce Project. We value this database in excess of $20 million. This includes electro-magnetic surveys, airborne and ground base. We’ve got magri magnetic. We’ve got IP surveys. So what this has enabled us to do is to rapidly progress our exploration program essentially on these projects through reprocessing this data. We’ve been able to push forward our drill program and in the coming months we are planning a drill program focusing on the Midrim deposit where those spectacular grades were historically intercepted. We would do some infill drilling some twinning and then some step out holes in other conductors that we found across the region as well. So that’s one of the primary things to look out for as an investor. We’ve also got our initial work programs and the review of historical data over that our Iron Mask and Mulligan projects so that will yield some results as well by the end of this year.
David Tasker: [00:03:37] Exciting times ahead for the company. Marnus thanks for your time.
