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- Meeka Metals (MEK) confirms ongoing record of high-grade rare earth assays from the Circle Valley project in Western Australia
- The latest batch of assays show widespread rare earth mineralisation grading up to 2439 parts per million total rare earth oxides (TREO)
- The company will now expand the mineralisation zone following the consistent high-grade rare earth assays received throughout the drilling program at the project
- Resource definition drilling will commence at the project in the December 2022 quarter
- Shares in Meeka hold steady at 5.1 cents as of 3:36 pm AEST.
Meeka Metals (MEK) confirmed ongoing record of high-grade rare earth assays from the Circle Valley project in Western Australia.
The assays showed widespread rare earth mineralisation grading up to 2439 parts per million total rare earth oxides (TREO).
The company said initial metallurgical test work demonstrated TREO extraction is now up to 82 per cent, averaging 76 per cent and high value magnet rare earths up to 86 per cent, averaging 82 per cent.
The best intersections recorded from this batch of assays include eight metres at 2245ppm TREO of 44 per cent magnet rare earth oxides (REO) and 61 grams per tonne (g/t) scandium from 12 metres at 22CVAC188 and eight metres at 1432ppm TREO of 39 per cent magnet REO and 15 g/t scandium from 28 metres at 22CVAC237.
Commenting on these results, Managing Director Tim Davidson said it highlights the large-scale, high-grade rare earth opportunity at the project.
“Pleasingly, the results continue to display very high proportions of the valuable magnet rare earths, which is an important determinant in the economics of these deposits.
“With metallurgical results now also showing there is a pathway to production of a commercial product, and plans in place for infill drilling and delivery of an initial Mineral Resource this financial year, the team is making excellent progress advancing Circle Valley.”
Mr Davidson also mentioned the company remains on track for drilling to commence in the first half of FY23.
The company further confirmed that the mineralisation zone has expanded, targeting the central and northern blocks of the corridor given the “very high-grade” rare earths intersected on the southern corridor.
Moreover, it is confirmed that resource definition drilling will commence at the project in the December 2022 quarter.
Shares in Meeka held steady at 5.1 cents as of 3:36 pm AEST.
