Rare Earths

Meeka Metals recaps catalyst-rich quarter on quest for rare earths and gold

Fri 29 Jul 22, 12:12pm (AEST)
Drilling - Two workers walking next to a mining drill parked in the mining site with a blue sky in the background
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Key Points

  • Meeka Metals recommenced drilling at the flagship Murchison Gold Project
  • Murchison has a growing gold resource and progressing towards production
  • Circle Valley and Cascade shaping up to be 'significant' rare earth discoveries

Meeka Metals (ASX: MEK) recaps a catalyst-rich June quarter as it advances both gold and rare earth opportunities in Western Australia.

Project

Prospective for

Description

Murchison

Gold

1.1Moz JORC resource. Plans to grow resource base and progress towards production

Circle Valley

Gold and rare earths

Relatively early-stage. Gold mineralisation identified at four separate locations, ongoing drilling

Cascade

Rare earths

Relatively early-stage. Results to date indicate high levels of NdPr

Table: Market Index | Source: Meeka Metals

Assays and drilling

“We continued to advance at great pace with work completed across all our projects during the quarter," said Meeka's Managing Director Tim Davidson.

Drilling recommenced at the flagship Murchison Gold Project in June, targeting areas not yet included in its existing Mineral Resource. Results from the drilling program will be released next quarter.

Circle Valley has made a subtle pivot after samples from a 15,000m gold-focused drilling program were reanalysed for rare earths in early 2022.

Assays to date continue to confirm widespread, high-grade rare earth mineralisation, with up to 47% as valuable magnet rare earths. Reporting of assays will be ongoing during the September quarter.

It was a busy quarter at the Cascade Rare Earths Project, with assay results coming through from 190 drillholes. The assays showed shallow, high-grade, clay hosted rare earth mineralisation over a large acreage, currently 1,100km 2.

The northern half of the project (Northern and Central block), which is another 1,000km 2 remains to be drilled.

Meeka Metals Cascade Rare Earth Project
Source: Meeka Metals
DISCLAIMER: Market Index helps small-cap ASX listed companies connect with Australian investors through clear and concise articles on key developments. Meeka Metals 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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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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