Meeka Metals can’t stop finding gold at the St. Anne’s prospect, part of its WA Murchison play

Tue 29 Nov 22, 10:06am (AEST)
Close-up detail of gold mineralisation in pyrate type rocks at an unknown location
Source: iStock

Key Points

  • Lode mineralisation strike length at the St. Anne’s prospect now sits at 850m
  • Meeka has discovered two entirely new gold lodes at St. Anne’s in November alone; only one prospect in the larger Murchison tenement
  • Company has deferred St. Anne’s JORC until Q2 2023 to absorb and reflect new data

Meeka Metals (ASX:MEK) has once again grown the size of its lucrative St. Anne’s prospect on-site the company’s 100% owned Murchison gold project in WA with the latest drilling results confirming discovery of an entirely new gold lode. 

Earlier this month, the company announced it had uncovered another lode (unrelated to today’s announcement) at Murchison, which was named the ‘Wood’ lode

This reflected a new mineral system at the St. Anne’s prospect; only days earlier, the company had confirmed peak results of gold in grades over 85 grams of gold per tonne of ore (85g/t) in a 4m drill core. 

This was hosted in quartz containing sulphides; a typical host rock for gold to form in, and, a type of mineralisation with desirable downstream processing qualities. 

For context, Investor information provider Undervalued Equity classifies high-grade gold as that in concentrations over five grams of gold per tonne of ore (5g/t). 

Now, in the space of a month, Meeka has discovered two entirely new gold lodes on-site at the Murchison project

Say hello to Brassie

The new lode, which is now called the ‘Brassie’ lode moving forward, is 320m northeast of the existing ‘Driver’ lode, meaning the company now has a greater scope of operations at St. Anne’s (and more track to run infill drilling on later.) 

Drill results for the Brassie lode run as follows: 

  • 12m @ 2.33g/t gold from 44m depth, including: 

    • 04m @ 3.96g/t gold 

  • 04m @ 1.99g/t gold from 52m depth 

Driver and Wood lodes extended 

The company has also today reported fresh discoveries of gold mineralisation associated with the Driver and Wood lodes; now both boasting extended strike lengths on paper as the company confirms the precious metal is present underground further out than thought. 

New drill results across the two formerly known targets are as follows: 

  • 24m @ 1.45g/t gold from 119m depth, including:

    • 04m @ 3.61g/t gold 

  • 16m @ 1.59g/t gold from 76m depth, including: 

    • 04m @ 3.50g/t gold 

  • 08m @ 4.54g/t gold from 76m depth, including: 

  • 04m @ 8.55g/t gold 

Meeka Metals’ exploration team interprets the Wood lode geology as remaining open to the north, south, and at depth; assays are pending for four more drillholes sunk over the target. 

All in all, strike length of lode mineralisation at St. Anne’s alone (which is just one prospect in a larger gold project) has climbed to 850m. 

JORC deferred 

With new lodes Wood and Brassie being hit just this month, the company will now defer publishing a JORC-compliant resource for its Murchison project until Q2 of 2023 to soak in the new data. 

“This will allow drill outs at the new zones of shallow oxide gold for inclusion in the Mineral Resource, providing a more meaningful picture of St Anne’s for inclusion in the Prefeasibility Study being released in mid-2023,” Meeka chief Tim Davidson said. 

“Additionally, drilling continues to extend the strike of the oxide gold at the Driver lode, where diamond drilling is also targeting primary mineralisation below the oxide horizon.

A look at Meeka's one year charts reflects a gradual rise in value
A look at Meeka's one year charts reflects a gradual rise in value
Disclaimer: Market Index helps small-cap ASX listed companies connect with Australian investors through clear and concise articles on key developments. Meeka was a client at the time of publishing. All coverage contains factual information only and should not be interpreted as an opinion or 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.

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