Meeka Gold Ltd (ASX:MEK) believes it is now sitting on a large mineralised system that is yet to show its true potential.
Results from Phase 2 drilling at its Murchison Gold Project in WA show MEK has intersected thick gold mineralisation at the Turnberry South prospect.
MEK’s flagship Murchison Gold Project has a combined 343 square kilometre landholding in the prolific Murchison Gold Fields of Western Australia and hosts a high-grade 1.1-million-ounce mineral resource.
MEK has now completed approximately 10,000 metres of RC and diamond drilling with a sample from its best result ending in mineralisation.
The highlight is 13 metres at 2.18 g/t gold from 219 metres including 4 metres at 3.87 g/t in hole 21TBRC007. MEK is now waiting for assays on the final 28 metres of this hole.
Further highlights include:
- 8 metres at 2.93 g/t gold from 150 metres including 4 metres at 5.54 g/t in hole 21TBRC002;
- 10 metres at 2.04 g/t from 188 metres including 6 metres at 3.02 g/t in 21TBRC003;
- 12 metres at 1.56 g/t from 156 metres including 4 metres at 3.87 g/t in 21TBRC008;
- 6 metres at 1.73 g/t from 206 metres including 2 metres at 4.03 g/t in 21TBRC004;
- 4 metres at 1.04 g/t from 128 metres in 21TBRC003;
- 4 metres at 1.02 g/t from 174 metres in 21TBRC002; and
- 2 metres at 2.95 g/t from 144 metres in 21TBRC008.
Turnberry South long section A-A’ showing East lode drill intercepts.
This month could see the company release samples for 36 holes, including 8,200 metres of drill samples targeting Turnberry and St Anne’s. Samples are at the laboratory awaiting assay.
Shares have been as much as 10% higher today to $0.044.
Strong potential at Turnberry
Turnberry South forms part of the 1.5-kilometre striking Turnberry deposit, with mineralisation that sits directly below the planned open pit outlined in MEK’s 2021 Murchison Gold Project Scoping Study, which proposed an initial 443,000-ounce production plan.
“We have strong conviction that the Fairway trend, which extends over 5 kilometres from Turnberry to St Anne’s, is a large mineralised system that has yet to reveal its true endowment,” MEK CEO Tim Davidson said.
“Our team has started to demonstrate this, and pleasingly the results released in this announcement support this view, confirming thick, high-grade mineralisation at depth below the planned open pit at Turnberry South.
“With drilling ongoing during 2022 and a significant number of samples at the laboratory awaiting assay, we look forward to updating our shareholders with the results of this work over the coming months.”
With assay results for several Turnberry South holes still pending, MEK sees great upside in the project.
Results will be reported as received, with the company also having completed the RC pre-collars for two deep diamond drill holes at Turnberry South: the diamond tails are planned to be drilled in early 2022.
These deeper diamond drill holes target mineralisation below and to the south of the intercepts reported in this announcement.