Meeka Metals (ASX:MEK) has completed the acquisition of three gold deposits near Mt Holland in Western Australia, adding a 71km² exploration package to its portfolio.
The company adds the Blue Vein, Bushpig, and Razorback deposits from MH Gold and Montague Resources Australia for $20 million plus shares.
Meeka paid $10 million in cash at completion, with a further $10 million due on 13 November 2026. It also issued 117.8 million shares, representing 3.8% of its post-issue capital, subject to 12 months of voluntary escrow.
The acquired tenure covers about 24km of north–south-striking banded iron formation (BIF), which hosts the area’s known gold mineralisation. Lithium rights are excluded from the transaction and remain with third parties, while Meeka has assumed a $25 per ounce royalty on gold produced and sold from the tenements.
The nearby Bounty gold mine, which is not part of the acquisition, historically produced about 1.2 million ounces @ 5.12 grams per tonne gold (Au) before closing in 2001 amid gold prices of around $500 per ounce.
Blue Vein, located 5km south of Bounty, historically produced 292,094 tonnes @ 4.06g/t Au and remains open at depth, according to Meeka. Historical drilling returned intersections including 20m @ 12.8g/t Au from 63m, 23m @ 9.2g/t Au from 49m, and 14.78m @ 9.6g/t Au from 426.7m.
Managing Director Tim Davidson says the greenstone belt has created further expansion potential for the company.
“The belt has received very little modern exploration for gold over the past 15 years despite significant past production and strong evidence there is more gold to be found,” Davidson says.
“We intend to systematically drill test the ~24km of north-south striking, gold-hosting BIF units within the acquired tenure over the next 12–18 months.”
Meeka says it expects to report mineral resources compliant with the JORC Code 2012 for all three deposits in October. Extensional drilling at Blue Vein is scheduled to begin in January 2027, followed by systematic testing of the broader BIF corridor.
Write to France Pinzon at Mining.com.au
Images: Meeka Metals
