Rare Earths

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

Tue 26 Jul 22, 11:30am (AEST)
Copper 2 Mining
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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 price chart
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.

 

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Written By

Kerry Sun

Finance Writer & Social Media

Kerry holds a Bachelor of Commerce from Monash University. He is an avid swing trader, focused on technical set ups and breakouts. Outside of writing and trading, Kerry is a big UFC fan, loves poker and training Muay Thai. Connect via LinkedIn or email.

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