Large-scale, high-grade rare earth opportunity brewing for Meeka Metals

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

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.