- Meeka Gold (MEK) has intersected further shallow, high-grade mineralisation within its Cascade project in WA
- The company received results for 105 holes drilled within the eastern block which returned grades of up to 2223 ppm total rare earth oxides over 16 metres
- Further, the drill results received cover about half of the total project area which Meeka believes shows the “remarkable scale” of mineralisation within the Cascade project
- Follow-up drilling activities will take place to target the highest value zones of mineralisation before drilling commences at the northern and central blocks in September
- MEK shares are trading 8.2 per cent higher at 6.6 cents at 1:31 pm AEST
Meeka Gold (MEK) has announced fresh results from drilling at its Cascade project in Western Australia.
The results account for 105 holes completed within the eastern block of the rare earth element (REE) project which Meeka considers to represent a potentially large scale, high-grade project.
Positively for the company, the assays show shallow, high-grade mineralisation, up to 24 metres thick, within the saprolitic clays. The mineralisation has up to 45 per cent of the rare earths content in high value magnet metals.
Results include 16 metres at 2223 parts per million (ppm) total rare earth oxides (TREO) (45 per cent magnet rare earth oxides [REO]) from 44 metres including four metres at 5791 ppm TREO.
Additional results were 19 metres at 1350 ppm TREO (31 per cent magnet REO) from 52 metres including four metres at 2148 ppm TREO.
Interestingly, the results received to date cover 1143 square kilometres of the Cascade project area which covers 2068 square kilometres. The company believes this shows the “remarkable scale” of mineralisation within the project.
“These assays confirm the presence of shallow, high value rare earth mineralisation across over half of our 100 per cent-owned Cascade project,” CEO Tim Davidson said.
“Excitingly, the clay horizon within the northern and central blocks which comprise the other half of Cascade have never been drilled, yet surface samples from the depleted zone display grades up to 633ppm TREO.
“The potential for significant zones of clay hosted rare earth mineralisation below these highgrade surface samples is considerable.”
Looking ahead, the company will conduct follow-up drilling activities to target the highest value zones of mineralisation before drilling commences at the northern and central blocks in September.
MEK shares were trading 8.2 per cent higher at 6.6 cents at 1:31 pm AEST.