Meeka Metals Finds High-Grade Gold Mineralization in Western Australia Project, Shares Up 14%

MT Newswires Live
Oct 16

Meeka Metals (ASX:MEK) found high-grade gold mineralization during a recent drilling at its Murchison gold project's Turnberry North in Western Australia, according to a Thursday Australian bourse filing.

The results were up to 22 meters at 3.25 grams per tonne grade of gold from 125 meters, including 10 meters at 6.03 g/t gold.

The company said that the results show potential to grow the resource and reserves, and will likely extend the stage 1 open pits beyond the initial 2 years previously planned, while higher-grade zones in fresh rock below the pit are also likely to grow underground production.

The company said that reverse circulation drilling is underway at Turnberry in the central and southern growth target areas, in addition to follow-up drilling at this northern area.

Underground diamond drilling has commenced at Andy Well in the September quarter, with results expected in the December quarter onwards, the filing added.

The company added that operational performance at the project has exceeded the ramp-up schedule in the feasibility study, with September quarter gold production higher than planned, and the mines and processing plant are performing well and continue to ramp up.

The company's shares rose past 14% in recent Thursday trade, reaching their highest since April 2012.

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