Large-scale, high-grade rare earth opportunity brewing for Meeka Metals
Exploration momentum is building for rare earth hopeful Meeka Metals
Source: iStock
Mentioned
KEY POINTS
- Meeka shares are up 3.9% in early trade on Tuesday
- Another round of assays confirm widespread rare earth mineralisation at the Circle Valley Project in WA
- Meeka has more drilling planned for prospective rare earth projects including Circle Valley, Cascade and Esperance, all located in WA
A “large-scale, high-grade rare earth opportunity” is brewing for Meeka Metals (ASX: MEK) amid continued exploration success at the Circle Valley Project in WA.
Assays continue to confirm widespread rare earth mineralisation, with up to 45% of the results classified as high-value magnet rare earths.
"The results continue to display very high proportions of the valuable magnet rare earths, which is an important determinant in the economics of these deposits," commented Managing Director Tim Davidson.
The results build on Monday’s metallurgical results that demonstrate a pathway to the production of a commercial downstream product. Various extraction techniques achieved total rare earth extraction up to 82%, averaging 76%.
Meeka has plans to progress infill drilling at Circle Valley ahead of an initial Mineral Resource in FY23. In parallel, further drilling will take place at two other prospective rare earth projects - Cascade and Esperance.
Forthcoming catalysts
Date | Announcement |
|---|---|
July 2022 | Quarterly Activities Report |
July - August 2022 | Assays from remaining 13,796m of drilling for high-grade rare earths at Circle Valley |
July-September 2022 | Gold assays from Murchison Gold Project drilling |
September 2022 | Pre-feasibility Study for the Murchison Gold Project |
September 2022 | Audited Annual Report |
October-December 2022 | Rare earth assays from Cascade drilling |
Table: Market Index, Source: Meeka Metals
Meeka Metals share price chart
Meeka Metals was a Market Index client at the time of publishing. All coverage contains factual information only and should not be interpreted as opinion of financial advice.
