Meeka Metals Limited (ASX:MEK) has obtained high-grade gold assays from diamond drilling at Circle Valley project in Western Australia.
The primary mineralization at Circle Valley sits below a large 1.2km by 400m zone of regolith gold. The gold is hosted in gneiss and is associated with pyrite-biotite-muscovite. Drilling completed in 2022 shows an approximate spatial relationship with potassium feldspar alteration and higher gold grades. RC drilling is now underway targeting eastern extensions to this shallowly plunging high-grade mineralization.
“This short diamond drilling programme was designed to give our team insight into the underlying geology and structural setting at Circle Valley,” Managing Director, Tim Davidson, said.
“The high-grade gold in this drilling, and the broad gold zones returned from RC drilling in 2022 support our view that Circle Valley is a significant gold opportunity. Follow up drilling is now underway based on vectors from the diamond drilling. Results are expected through March and April 2023.
“We have also completed the rare earth infill and extensional drilling at Circle Valley. This drilling targeted ~15sq. km in the northwest of Circle Valley, where shallow high-grade rare earth mineralization grading up to 6,894ppm TREO was intersected in 2022.
“Assays will be reported through March and April 2023 and will enable delivery of an initial rare earth Mineral Resource during the June 2023 quarter.”
Circle Valley is a greenfield project located 100km north of Esperance, Western Australia. The project covers a section of the southwestern Albany‐Fraser Mobile Belt. The belt is a highly prospective but underexplored frontier, as demonstrated by the considerable success AngloGold Ashanti had with the discovery and development of the 7.1Moz Tropicana gold mine.
Despite positive indications from early reconnaissance work at Circle Valley by previous explorers, no systematic gold exploration was undertaken prior to Meeka’s work.
Limited historical reconnaissance drilling had identified primary gold mineralization in four separate locations, Anomaly A, B, C and Fenceline.
Multiple kilometres of magnetic features extending from each of these gold occurrences remain to be tested. Outside Anomaly A and Fenceline, total historical drilling amounts to only 26 shallow Air Core holes.
For further information please visit: https://meekametals.com.au/
