Meeka Metals has unveiled a solid set of shallow high-grade gold results from air-core drilling at its St Anne’s discovery that sits in the company’s larger Murchison project in Western Australia.
Some of the eye-catching hits include 8m at 11.78 grams per tonne gold inside of a larger 24m parcel running 4.73 g/t gold from 52m and a further 8m at 11.07g/t gold within a 36m interval going 3.61 g/t gold from 44m.
Additional results include 20m grading 1.66 g/t gold from 36m, 16m at 1.43g/t gold from 92m and 8m with 3.05g/t gold from a depth of 104m.
The Perth-based company says its new assays have stretched St Anne’s northern high-grade zone by 85m.
Management believes assay results from a further 28 holes totalling over 3,000m are “outstanding.”
The rolling air-core program is aimed at drill testing the precious metal potential of a gold bearing corridor that extends south from Meeka’s 11 million tonne plus Turnberry deposit.
Turnberry boasts a 11.3 million tonne mineral resource running 1.7 g/t for 610,000 ounces of gold and is positioned a mere 3km north of St Anne’s. The company predicts mineralisation at St Anne’s exists in an analogous geological setting to Turnberry.
Meeka Metals’ Managing Director, Tim Davidson said:"The ongoing shallow drilling at St Anne’s continues to expand the footprint of high-grade oxide mineralisation within this large gold system. The drilling is also affording the team an improved understanding of controls on mineralisation at St Anne’s and highlighting excellent drill targets to the north of St Anne’s where historical drilling has intersected mineralisation, however no follow up work has ever been completed.”
The company has also kicked off an RC drilling program at St Anne’s where it will look to target mineralisation in the area’s fresh rock.
Meeka is moving at speed towards the delivery of an end of year maiden mineral resource at St Anne’s and will soon launch a diamond drilling campaign at the target.
The company’s Murchison gold project already lays claim to a 1.1-million-ounce resource and is strategically positioned next to a 1.8 million tonne per annum gold mill and a key highway.
Management is looking to establish a prefeasibility study at Murchison after a 2021 scoping study yielded a promising set of numbers. Notably the evaluation suggested the company could gain over $450m a year over the project’s eight-year life and churn out an undiscounted cash flow of $182m.
Figures from the scoping study also included a total mine production output of almost 5 million tonnes at 2.8 g/t gold for over 440,000 ounces.
Meeka recently made the move consolidate its in vogue gold and rare earths-focused portfolio and offloaded its non-core Gecko North project in WA to private explorer LithGold Minerals.
The deal will see the company pocket a total sum of $230,000 and claim a slice of the operation’s future turnover courtesy of a 1.5 per cent net smelter royalty.
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By Matt Birney
