Materials

Meeka hits fresh gold mineralisation north of Turnberry prospect

Tue 12 Jul 22, 12:29pm (AEST)
Gold ingots are laid out in a square with two ingots placed diagonally on top
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Key Points

  • Shallow aircore drilling at Meeka’s Murchison project has hit broad gold mineralisation outside of know deposit boundaries
  • Existing resource for Murchison project a whopping 1.1Moz of gold
  • Further drilling to be undertaken to the north and extend existing drillholes

Meeka Metals (ASX:MEK) investors are watching closely as Meeka’s geos finds more gold outside of its known mineral resource boundaries. 

Results were pulled from the Western Flank of the Turnberry prospect, a target within the larger Murchison project. 

Aircore drilling returned seven assay results of promising potential. 

The findings provide evidence there is more gold on-site than previously estimated. 

What did Meeka’s geos find?  

The most impressive result lies in drillhole 22TBAC011, which intercepted: 

  • A 32 metre long section with gold grades of 3.09 grams per tonne (g/t)

  • A 20 metre long section with grades of 4.53g/t (within the same hole). 

Investor information service Undervalued Equity notes grades of gold between 4g/t and 5g/t are considered ‘high grade.’ 

Grades between 2g/t and 4g/t are considered mid-grade. 

What this means for Meeka: the company has hit fresh deposits of high grade gold at Murchison. 

A map locating Meeka's Murchison project in relation to its southern battery metals projects
A map locating Meeka's Murchison project in relation to its southern battery metals projects

More drilling ahead 

The northern section of the Turnberry Western Flank remains open to the north and at depth. 

Meeka Metals will now proceed with more drilling at Turnberry to further develop estimates of resource potential underground. The project already boasts a 1.1Moz gold resource. 

This is not the first time Meeka Metals has found more gold laying on the outskirts of its established project. 

Back in July, Meeka’s geos pushed the share price up nearly 7% when drillhole 21TBRCDD011 found an anomalous pocket of a whopping gold grade of 62g/t. 

Mineral Resource upgrade potential

A pre-feas study for the Murchison project wholemeal remains on track for publication in September 2022. 

“Mineralisation added to the Mineral Resource through this drilling will have a meaningful impact on the outcomes of our December 2021 scoping study,” Meeka Metals managing director Tim Davidson said. 

“Results will also be included in the upcoming pre-feasibility study.” 

Meeka's three month charts show company share price performance outranking the Materials Index (XMJ)
Meeka's three month charts show company share price performance outranking the Materials Index (XMJ)
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

Jonathon Davidson

Finance Writer

Jonathon is a journalism graduate and avid market watcher with exposure to governance, NGO and mining environments. He was most recently hired as an oil and gas specialist for a trade publication. Email Jon at [email protected].

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