Meeka closes loop on Circle Valley gold, rare earths

WA explorer Meeka Gold is expanding its rare earths project by adding 33 per cent to its Circle Valley landholding in the Albany-Fraser province less than a week after reporting high-grade rare earths oxides hits at its Cascade project only 50km away.

In addition to rare earths, the new acreage contains the major Cascade and Bishops Hat regional shear zones, both highly prospective for gold mineralisation akin to AngloGold Ashanti’s 7.1 million ounce Tropicana mine. 

The new 222 square kilometre Circle Valley footprint has been significantly expanded, by locking up an interpreted extension of the saprolite clay fairway to the north as the area is prospective for high-grade rare earths.

Previous total rare earth oxides, or “TREO” results at Circle Valley 4m 1269ppm TREO from 8m, 16m at 1098ppm TREO from 12m and 4m at 1177ppm TREO.  All results boasted magnetic rare earth levels more than 30 per cent, with one hit coming in at 40 per cent.

Its not just rare earths figuring in the minerals hunt. Existing gold results Meeka has posted so far include some handy, shallow level grades in the Cascade and Bishops Hat shear zones within the new tenement, including 23m going 5.09 g/t gold from 13m including 10m showing 9.35 g/t gold, 16m indicating 3.06 g/t gold from 32m including 4m reporting 10.80 g/t gold and 10m with 4.72 g/t gold from 120m including 4m at 10.20 g/t gold.

In May Meeka reported the results of an air core drilling program over the nearby 2000 square kilometre Cascades project, encountering grades of up to 5791 parts per million TREO.  Another high-grade intersection of 12m at 1215ppm TREO from 36m was returned.

Meeka Gold Managing Director, Tim Davidson said: “Importantly, the new tenure also covers two regional shear zones on the margin of the Yilgarn, both highly prospective for Tropicana style gold mineralisation.”

“In addition to expanding Circle Valley, work continues to advance at an uncompromising pace and we anticipate reporting 16,000m of rare earth assays over the coming two months. We also expect to receive gold assays by mid-June 2022 from anomaly A, where drilling tested strike extensions to the broad zones of high-grade gold mineralisation.”

Davidson expects to have the rare earths metallurgical test work results back late next month.

The US Geological Survey says there are 17 different rare earths used in a broad range of technologies, ranging from national security to energy and specifically magnets, lasers, wind turbines and electric vehicles.

Some rare earths are valued more highly than others and consequently the makeup of a deposit is an important factor in its valuation.

Meeka has run the numbers and determined its large-scale rare earths system contains as much as 45 per cent of the suite related to the manufacture of permanent magnets — an integral component to the lucrative and emerging green technologies of electric vehicles and wind turbines.

Is your ASX-listed company doing something interesting? Contact: matt.birney@businessnews.com.au