Meeka hits high grades of gold at shallow depths in WA

Meeka Metals (ASX:MEK) shares jumped in the first hour of trade on the company’s latest WA gold drilling data. 

An aircore drill run at the company’s Murchison project has proven the existence of gold underground at shallow depths. 

Investor information service Undervalued Equity notes gold grades between 2.5 grams per tonne (4g/t) and 5g/t are considered middle-upper grade.

Meeka is today reporting:

In January, Meeka hit a 24m thick core with gold mineralisation at 4.8g/t. 

“Exceptional opportunity”

Meeka's managing director Tim Davidson highlighted the attractive commercial prospects embedded within the acreage. 

“The inclusion of St. Anne’s in our mineral resource will have a meaningful impact on the robust outcomes of our December 2021 scoping study,” Davidson said. 

“Results are showing St. Anne’s has good geological and grade continuity and drilling continues.” 

Further drilling rolling out at St. Anne’s

Aircore results today come from the St. Anne’s target at Murchison which boasts numerous areas still untested by the company. 

Further drilling is now underway at St. Anne’s testing the extent of southward and northward mineralisation, with results to be released in the near future. 

Worth noting is that Meeka’s existing mineral resource does not yet include mineralisation from St. Anne’s. 

Should strong results at Anne’s continue, it is likely the company is well placed to boost its JORC mineral resource estimate; enhancing the likelihood of investment and development. 

That upgrade is set to hit the books before 2023. 

Meeka Metals' three month charts show it currently outperforming 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.