Meeka Metals Limited (ASX: MEK) has released an updated Mineral Resource for the shallow, high-grade Turnberry deposit, part of the 100% owned Murchison Gold Project in Western Australia.
The Turnberry Mineral Resource now stands at 10.6Mt @ 2.0g/t Au for 685k ounces.
The Mineral Resource was prepared by independent technical experts RSC, and is based on 80,949m of drilling, including 5,952m of diamond drilling. 16,213m of this drilling, including 2,065m of diamond drilling, has been completed to 30 October 2022 (the cut-off date for inclusion) since the previous Turnberry Mineral Resource update in the June 2021 quarter. A further 21 drill holes (1,810m) were completed at Turnberry post the drilling cut- off date and were not included in this Mineral Resource update, however, will be included in subsequent updates.
Turnberry is a shallow, high-grade deposit with no prior mining depletion. The Turnberry Mineral Resource averages ~1,600 ounces per vertical metre from surface to a depth of 200m where the density of drilling reduces. The deposit has a strike length of 1.7km and remains open to the north, south and at depth. The potential for underground mining beyond an initial open pit is considered likely.
The near surface open pit constrained Mineral Resource is largely drilled out with ~20m by ~20m hole spacing and 64% is reported in the Indicated classification. This shallow high- grade oxide gold will form an important part of the Pre-feasibility Study, which is targeted for release in the June 2023 quarter.
Highlights
- The Mineral Resource for the Murchison Gold Project grows to 12.4Mt @ 3.0g/t Au for 1.2M ounces following a 12% increase in Turnberry Mineral Resource to 10.6Mt @ 2.0g/t Au for 685k ounces.
- The Mineral Resource was prepared by independent technical experts RSC.
- Turnberry is a shallow, high-grade deposit with no prior mining depletion.
- The Turnberry Mineral Resource averages ~1,600 ounces per vertical metre from surface to a depth of 200m where the density of drilling reduces. The potential for underground mining beyond an initial open pit is considered likely.
- 64% of the open pit constrained Mineral Resource is in the Indicated classification.
- Turnberry has a strike length of 1.7km and remains open to the north, south and at depth.
- 80,949m of drilling used as the basis for the Turnberry Mineral Resource, including 5,952m of diamond drilling.
- 16,213m of drilling has been completed to 30 October 2022 (the cut-off date for inclusion) since the previous Turnberry Mineral Resource update in the June 2021 quarter.
- An initial Mineral Resource for St Anne’s is targeted for March 2023 quarter.
- The Turnberry and St Anne’s Mineral Resources will feature in the Pre-feasibility
Study due in the June 2023 quarter.
“Drilling over the last 18 months has targeted the high-grade core of Turnberry, in addition to expanding the shallow oxide gold on the western flank. The majority of the open pit constrained Mineral Resource is now in Indicated as we move toward mining,” Managing Director Tim Davidson said.
“In addition, the open pit optimisation used to constrain the Mineral Resource reflects recent mining cost escalation in the industry. This approach has reduced the size of the open pit portion of the Mineral Resource, which now stands at ~330koz.
“Cost escalation was mitigated somewhat through the addition of shallow oxide gold on the western flank which falls within the pit optimisation. Planning is in place to further extend the strike of this shallow gold in 2023.
“Extensional drilling also commenced on the eastern flank in December 2022 (assays pending) where an opportunity to further grow the shallow oxide gold at Turnberry was identified.
“Shallow, high-grade oxide mineralization added to the Mineral Resource through this drilling will continue to have a meaningful impact on the outcome of the upcoming Pre- feasibility Study expected in June 2023.”
For further information please visit: https://meekametals.com.au/
