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- Meeka Metals (MEK) launches a high-impact drilling program at the Murchison gold project in Western Australia
- The drilling will look to target shallow, high-grade gold mineralisation within the Fairway shear zone, which remains largely untested
- The company’s independent technical consultants advised investors of a delay delivering the initial St Anne’s mineral resource, now slated for release in April
- However, Meeka’s pre-feasibility study remains on track for delivery in the June 2023 quarter, which will include the St Anne’s mineral resource
- Meeka Metals is up 4.44 per cent, trading at 4.7 cents market close
Meeka Metals (MEK) has launched a high-impact drilling program at the Murchison gold project in Western Australia.
The drilling will look to target shallow, high-grade gold mineralisation within the Fairway 25-kilometre shear zone — a sheared package of mafic rocks within the Archean Gnaweeda greenstone belt.
The Fairway shear zone remains largely untested outside of the Turnberry and St Anne’s areas, with around 90 per cent of the shear zone untouched.
“This program will target areas where ineffective broad-spaced historical RAB and aircore drilling intersected strong coincident gold-arsenic anomalies but were not followed up,” Meeka Managing Director Tim Davidson said.
“This approach proved highly successful in 2022 when we targeted gold arsenic anomalism at St Anne’s and discovered extensive, shallow, high-grade gold.”
However, the company’s independent technical consultants advised investors of a delay in delivering the initial St Anne’s mineral resource.
“That was really disappointing,” Tim Davidson told The Market Herald.
“It is only a short delay and we expect to get that out mid next month in April.”
That said, Meeka’s pre-feasibility study remains on track for delivery in the June 2023 quarter and will include the St Anne’s mineral resource.
“Following that, the board will make a decision around progressing to a definitive-feasibility study and that will likely get us into 2024, before we make a decision to mine,” Mr Davidson said.
“Based on what we’ve seen so far with the work we’ve done in the pre-feasibility study, it’s looking really positive and it’s certainly something we’re going to progress with a view to start mining in the next 12 to 18 months.”
Meeka Metals was up 4.44 per cent, trading at 4.7 cents at market close.
