Meeka Metals Ltd (ASX:MEK) has intersected the highest-grade rare earth mineralisation to date over 7,000 TREO at its Circle Valley Project in Western Australia.
The company received assays for the final 32 infill and extensional rare earth element mineral resource drill holes, with standout assays including:
- 12 metres at 4,276 parts per million (ppm) total rare earth oxides (TREO) from 19 metres, including, 4 metres at 7,475ppm TREO;
- 16 metres at 1,814ppm TREO from 17 metres, including, 4 metres at 3,226ppm TREO; and
- 4 metres at 1,773ppm TREO from 25 metres.
Looking ahead, Meeka had kicked off its mineral resource modelling for Circle Valley with the initial resource on track for release in the June quarter.
Strong potential for growth
Meeka managing director Tim Davidson said: “These results include the highest-grade rare-earth mineralisation seen to date at Circle Valley, over 7,000ppm TREO.
“Assays continue to confirm thick seams of high-grade mineralisation rich in NdPr magnet rare earth elements are present at Circle Valley.
“Combined, the 2023 infill and extension drilling covers an area of ~15 square kilometres, significantly expanding the footprint of mineralisation in preparation for mineral resource estimation, which is now underway.
“We anticipate reporting the Circle Valley mineral resource in June 2023, which in conjunction with the ongoing metallurgical test work will support economic assessment.
“These latest assay results also continue to confirm the shallow high-grade mineralisation trends northwest and remains open in that direction, providing strong potential for further growth through drilling.”
Drill highlights
The drill program covers an area of 15 square kilometres with results being used to inform a REE mineral resource for Circle Valley.
The REE at Circle Valley accumulate within the saprolite clay horizon creating thick, near surface mineralised seams below shallow transported cover.
Drilling shows the cover shallows to the northwest of Circle Valley, coincident with the highest-grade mineralisation recorded to date, 7,475ppm TREO.
The mineralisation also consistently demonstrates a high proportion, up to 34%, as valuable NdPr magnet rare earths.