Meeka Metals (ASX:MEK) reports recent drill results show ‘exceptional’ growth opportunity at its Murchison Gold Project in Western Australia.
Meeka reports that a further 38 aircore holes have been drilled during July at St Anne’s, which is part of the 100% owned Murchison Project.
The new results show broad zones of high-grade gold intersected at the northern end of St Anne’s:
- 32m @ 16.07g/t Au from 48m including 16m @ 28.59g/t Au (22SAAC058)
- 20m @ 20.74g/t Au from 48m including 16m @ 24.86g/t Au (22SAAC061)
The company’s share price had risen 40% as of 8.45am.
Commenting on the results, Meeka’s Managing Director Tim Davidson said: “The broad zones of shallow gold prevalent at St Anne’s continue to demonstrate the exceptional growth opportunity at our Murchison Gold Project.
Pleasingly, these results also demonstrate the significant high-grade potential as we continue to grow the footprint of this large gold system.
Drilling is continuing at St Anne’s targeting the largely untested central area immediately along strike and to the south of these exceptional high-grade results.
We are also working toward the inclusion of St Anne’s in our next Mineral Resource update, targeted for the December 2022 quarter.”
The Murchison Gold Project covers the northern end of the Mount Magnet and Youanmi Shear Zones. The project tenure is located along strike from several multi-million-ounce gold mines and large gold processing facilities.
The project hosts a well understood, high grade 1.1Moz gold Mineral Resource with a clear pathway to rapidly expand the known Mineral Resources through drilling near mine targets.
The project produced more thaan 330,000oz at 8g/t gold up until 2017 when it was put into care and maintenance due to the subdued gold price (A$1,600/oz). Extensive processing infrastructure remains in place adjacent to the Andy Well underground mine.
Meeka is currently progressing feasibility studies to bring the asset into production and has a clear strategy to systematically grow the Mineral Resource.
Images: Meeka Metals Ltd
