The 15km2 area of focus is where shallow high-grade rare earth mineralisation grading up to 6,894ppm TREO was intersected in 2022.
More importantly, the mineralisation also demonstrates a high proportion of the grade, up to around 30pc of the TREO grade, as valuable NdPr magnet rare earths.
Meeka (ASX:MEK) says plans are to advance its rare earth projects to the mineral resource development stage which – in conjunction with ongoing metallurgical test work – will support future economic studies.
“Results received in 2022 show a shallowing cover profile to the northwest at Circle Valley, corresponding with a +1,000ppm high-grade component of the rare earth mineralisation,” MEK managing director Tim Davidson says.
“This mineralisation trends northwest into an undrilled part of Circle Valley, which will be the focus for mineral resource drilling and will enable delivery of an initial rare earth resource during the June 2023 quarter.”
Once this has been completed, Davidson adds the focus will shift to extensional drilling at Anomaly A, where broad zones of high-grade gold hit up to 23m at 5.09g/t gold in 2022.
This article was developed in collaboration with Meeka Metals, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.