Meeka Gold Ltd continues to intercept high grade lenses of gold mineralization
Meeka Gold Ltd (ASX:MEK) has received further encouraging results from the Circle Valley project, with drilling continuing to intercept high-grade lenses of gold mineralization within a broader package of lower-grade gold down to 80 meters thick.
Primary mineralization is found beneath a large 1.2 kilometer by 400 meter zone of auriferous regolith identified by aerodynamic drilling.
Highlights of the analysis include:
- 32 meters at 1.39 g/t gold from 4 meters including 8 meters at 4.96 g/t (22CVRC025);
- 40 meters at 0.70 g/t from 48 meters including 4 meters at 1.60 g/t and 4 meters at 1.49 g/t and 8 meters at 1.17 g/t (22CVRC027).
These results coincide with previously reported results:
- 23 meters at 5.09 g/t over 13 meters including 10 meters at 9.35 g/t and 7 meters at 2.91 g/t (22CVRC001);
- 24 meters at 1.21 g/t from 24 meters (22CVRC010);
- 16 meters at 3.06 g/t over 32 meters including 4 meters at 10.80 g/t (22CVRC009);
- 10 meters at 4.72 g/t from 120 meters including 4 meters at 10.20 g/t (22CVRC008) – drilling leading to mineralization; and
- 4 meters at 2.51 g/t from 96 meters (22CVRC003).
The 100% Meeka-owned Circle Valley Project showing the location of RC drilling at the A Anomaly, and the large-scale gold targets at the B, C and Fenceline Anomalies, which coincide with a magnetic feature that spans 5 .5 kilometers from east to west and which have not yet been tested by Forage RC.
Anomaly A core and RC drill collar tips and gold grades, surface gold anomaly and underlying geology.
Significant system potential
The company is increasingly confident that Circle Valley hosts a significant gold system and also anticipates future rare earth assays.
“These results continue to support the view that Circle Valley hosts a potentially significant gold system. Petrographic analysis, among other technical work, is underway to confirm the mineralogy of this high-grade gold system,” said MEK chief executive Tim Davidson.
“This will be completed over the next few weeks and will help plan the next phase of drilling in the second half of 2022. Mineralization in the A anomaly remains open in all directions and the A anomaly is just one of many targets on a large scale in Circle Valley.. The gold opportunity in Circle Valley is significant.
“Additionally, we expect to report 16,000 meters of rare earth assays over the next two months. The first batch of these are expected to be received and reported within a week. Finally, we remain liaising with ANSTO on a bi-weekly basis regarding rare earth metallurgical test work. This is progressing well with results expected by the end of July 2022.”
Mineralization remains open in all directions and a drill plan is in preparation for the second half of 2022.
Meeka has a lot to do in the coming months. Here’s what shareholders can expect:
- June 2022: Presentation at The Australian Gold Conference, June 14, 2022 at 2 p.m., Sydney.
- June 2022: Assays of the remaining 16,000 m of drilling for high-grade rare earth mineralization at Circle Valley.
- June 2022: Forward-looking business plan targeting higher value zones of mineralization at Cascade.
- July 2022: ANSTO Rare Earth Metallurgical Results.
- July 2022: Gold assays from the drilling of the Murchison Gold project.
- July 2022: Quarterly activity report.
- September 2022: Pre-feasibility study for the Murchison gold project.
- September 2022: Audited annual report.