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27 January 2021 MR METEORIC RESOURCES Quarterly Report - December 2020 Meteoric Resources NL ( ASX : MEI ) ( " Meteoric " or " the Company " ) provides shareholders with its Quarterly Report for the three - month period ending 31 December 2020 . The quarter was an extremely active one for the Company , with highlights including : A very successful maiden drilling campaign on the newly acquired Palm Springs Gold Project , with multiple wide high - grade gold intercepts extending the mineralised zones over 350m south of the Butchers Creek Open Pit The identification of a giant IP anomaly at the Juruena Project , providing an immediate high value drill target with potential for a major porphyry copper - gold discovery An exceptional gold drilling campaign at Juruena with further Bonanza Gold above 90g / t Au A $ 4 million capital raising from existing cornerstone shareholders including $ 1M from Tolga Kumova and $ 2M from an investment syndicate led by legendary resources investor Keith Biggs , including $ 1M from retail mogul Gerry Harvey , with funds raised to be used to accelerate MEI's exciting exploration programs in Western Australia and Brazil including : Drilling in the current Quarter of the new giant IP chargeability anomaly beneath Juruena to test for potential major porphyry copper - gold discovery Dewatering of Butchers Creek Historic Pit and drill testing ore zones in pit floor and beneath pit Drilling to follow up on high grade intersections and further extend mineralisation to SW of Butchers Creek IP surveys at Butchers Creek ( new ) and Juruena ( extension ) Development studies at Juruena including an update of Resource Estimate in the current Quarter Palm Springs Gold Project , WA Meteoric acquired the high - grade Palm Springs Gold Project in the Kimberley Region of Western Australia in June 2020. The project covers more than 12,000 hectares including 3 MLS , 4 ELs and 6 PLs and contains more than 60 known gold occurrences over a 20km strike . Previous mining in the late 1990s at the Butchers Creek Open Pit Gold Mine saw 52,000oz @ 2.1g / t Au produced until the mine closure due to low gold prices in 1997 . Meteoric's initial drilling campaign at the Palm Springs Gold Project was designed to confirm and extend gold mineralisation to the south - west of the Butchers Creek Open Pit . The drill program was completed during the Quarter with a total of 26 holes for 2,278m of diamond drilling and 5,042m of RC drilling ( Figures 1 & 2 & Table 1 ) . R Meteoric Resources ABN 64 107 985 651 Level 1 , 33 Ord Street West Perth WA 6005 www.meteoric.com.au → ASX_MEI in www.linkedin.com/company/meteoric-resources/