Meeka Metals (ASX:MEK) is working to build up its Murchison Gold Project in Western Australia to a development-ready status by early 2024 with ongoing drilling and final approvals.
The gold and rare earths explorer, which has a $42.7 million market capitalisation, has reported a new round of ‘high-grade’ gold results from the 685,000-ounce @ 2.0 grams per tonne (g/t) gold Turnberry deposit of the Murchison project as part of its latest bout of infill work.
Meanwhile, Meeka is still awaiting assays for another 21 holes from Turnberry, expected in December, and 17 shallow infill holes from the St Anne’s deposit in the project area.
These extra results will help the company complete a grade control model for the Turnberry and St Anne’s open pits before the end of March 2024, and Meeka says its approvals processing is proceeding to plan, with submission scheduled for December 2023.
The top results from the latest round of infill assays include hole 23TBAC026 with 19m @ 8.75 g/t Au from 70m, including 10m @ 14.18 g/t Au, and hole 23TBAC029 with 5m @ 1.91 g/t Au from 70m, including 3m @ 2.75 g/t Au.
Meeka Managing Director Tim Davidson says these results continue to confirm, and in some places expand, the ‘broad’ zones of gold mineralisation in the Turnberry area.
“Further assays are expected in December 2023, which will inform the open-pit grade control model and updated production plan.
We are also on track to submit the remaining development approval documentation in December 2023, further supporting the development-ready status of the Murchison Project in early 2024.”
“We are also on track to submit the remaining development approval documentation in December 2023, further supporting the development-ready status of the Murchison Project in early 2024”
The Murchison project hosts a 1.2-million-ounce mineral resource, and Meeka’s July 2023 Feasibility Study for the project outlined a ‘straightforward’ development strategy for the project.
Alongside the Murchison project, Meeka Metals owns the Circle Valley Rare Earths and Gold Project and the Cascade Rare Earths Project, each of which is also in Western Australia.
Meeka Metals had $1.107 million cash and cash equivalents at hand as of 30 September, according to its latest quarterly report, and the company tapped investors for $3.5 million through a share placement in October 2023.
Write to Joshua Smith at Mining.com.au
Images: Meeka Metals