REE Results “Exciting” But Meeka Focused on Advancing Gold Project

THE CONFERENCE CALLER: Meeka Metals (ASX: MEK) announced the highest rare earth grades yet at its Circle Valley project, the same day as it presented to the
2023 RIU Sydney Resources Round-up this week, but the company’s focus remains on its advanced Murchison Gold Project. By Ngaire McDiarmid

Speaking to Resources Roadhouse on the conference sidelines, managing director Tim Davidson said it was really exciting to receive results of up to 7,475 parts per million Total Rare Earth Oxides (TREO) from Circle Valley, near Esperance in Western Australia.

“They’re the highest grades we’ve seen in the drilling at Circle Valley, ever,” he said.

“Generally, you see rare earth grades in the 1,000-2,000ppm … we saw grades from individual samples over 7,000ppm, so five to seven times what you’d expect as a high-grade result.”

He said that set the stage for next phase of work which includes the initial resource estimate, slated for June, understanding the metallurgy and assessing how to monetise the resource.

“We’re getting great results and we’re advancing it but we’re not losing sight of how important the gold is to us,” Davidson said.

“It’s the most important part of our portfolio.”

Meeka is advancing its flagship gold project towards “production ready” and expects to release a prefeasibility study in June.

The Murchison Gold Project has a 1.2 million ounce resource grading 3 grams per tonne across several deposits.

The 1.2 million ounces includes the initial St Anne’s Indicated Mineral Resource of 25,000oz, announced last week.