Meeka Metals (ASX:MEK) has reported new high-grade gold intercepts from ongoing drilling at Turnberry Central, part of its 100%-owned Murchison Gold Project in Western Australia. The latest results include broad, shallow zones expected to support high-productivity, low-cost open pit mining.
Highlights from the reverse circulation drilling include:
- 36m @ 2.82g/t Au from 89m, including 10m @ 4.67g/t and 11m @ 3.85g/t
- 24m @ 1.89g/t Au from 46m
- 22m @ 1.92g/t Au from 48m
- 6m @ 8.80g/t Au from 15m, including 1m @ 44.80g/t
The drill campaign is feeding into mine planning for stage one open pit operations at Turnberry, where mining is scheduled to commence shortly following activity at nearby St Anne’s.
“These broad zones of shallow high-grade gold will support high productivity, low-cost open pit mining,” said Managing Director Tim Davidson. “We’re progressing toward first ore and process plant commissioning in the June quarter.”
The company is completing a 20km haul road and finalising infrastructure at Turnberry and Andy Well. First ore production from open pits is targeted for April, with first gold expected by mid-2025.
Meeka’s Murchison Gold Project hosts a 1.2Moz resource and is forecast to produce up to 76,000oz per annum, with an average of 65,000oz in the first seven years. A definitive feasibility study released in December outlined a pre-tax free cash flow of $1bn and NPV8% of $616m.
Shares are trading 3.7% higher at 14 cents.
