Gold

Meeka reports more shallow gold at Circle Valley

Tue 14 Jun 22, 12:11pm (AEST)
A golden statuette of a bull overshadows a golden statuette of a bear on top of a financial newspaper layout
Source: iStock

Stocks in article

mek
MktCap:
-

Commodities in article

Share article

Key Points

  • Meeka Gold hits more gold mineralisation at shallow depths
  • Company currently exploring ‘Anomaly A’ prospect north of Esperance
  • Company to receive rare earths assay results in late July

Meeka Gold (ASX:MEK) has found more thick intersections of shallow gold in its latest RC drill run at Circle Valley, north of Esperance in WA.

High-impact results include:

  • 32m @ 1.39 grams of gold per tonne (g/t) from 4m (22CVR025)

  • 8m @ 4.96g/t (22CVR025)

  • 40m @ 0.70g/t 

The core intersections have the company optimistic in its geologists’ beliefs the Circle Valley project sits on significant gold deposits. 

The latest drilling targeted an area some 1.2km x 400m of regolith gold called “Anomaly A.” 

(Source: Meeka) A map locating the Circle Valley project
(Source: Meeka) A map locating the Circle Valley project

Company to assess before H2 2022 drilling 

Meeka Gold is to launch further drilling in the second half of this year as it maintains an aggressive exploration campaign.

Anomaly A will be targeted in the follow-up drilling as the company seeks to define beyond all doubt the presence of commercial gold mineralisation.

Anomaly A was originally discovered in initial aircore drilling campaigns.

Circle Valley hosts multiple prospects 

Meeka has launched the drills at Anomaly A, but the company keeps eyes on other prospects at the project. 

Anomaly B and Anomaly C remain ready for more intensive drilling, as well as another prospect called Fenceline. 

The Circle Valley project is not just a pure gold play, it is also prospective for rare earths. 

Rare earth results by late July 2022 

Meeka Gold management notes today it remains in regular contact with ANSTO, the federally-backed laboratory responsible for rare earth elements (REE) metallurgy. 

Test results are expected late next month.

ANSTO, also the nuclear regulator, is given this work due to the fact REEs often coincide with thorium and radioactive elements. 

16,000m of REE assay results are pending. 

Meeka Gold's last three months compared to the materials index
Meeka Gold's last three months compared to the materials index

 

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].

Get the latest news and media direct to your inbox

Sign up FREE