Meeka Metals Limited (ASX:MEK) has obtained ongoing high-grade rare earth assays from the Circle Valley project in Western Australia.
Assays continue to confirm widespread rare earth mineralisation grading up to 2,439ppm TREO. Intersections up to 36m thick have been recorded and mineralisation persistently demonstrates a high proportion of the grade, up to 45% in these results, as valuable magnet rare earths.
The rare earths accumulate within the saprolite clay horizon creating thick, near surface mineralised zones below shallow transported cover.
In addition, the depth of cover appears to shallow toward the west.
Notable intersections (above a 500ppm TREO grade) from this tranche of assays include:
§ 8m @ 2,245ppm TREO (44% Magnet REO) and 61g/t Scandium from 12m (22CVAC188)
§ 8m @ 1,432ppm TREO (39% Magnet REO) and 15g/t Scandium from 28m (22CVAC237)
§ 8m @ 1,236ppm TREO (40% Magnet REO) and 43g/t Scandium from 20m (22CVAC251)
§ 8m @ 1,218ppm TREO (32% Magnet REO) and 21g/t Scandium from 32m (22CVAC245)
§ 8m @ 1,003ppm TREO (37% Magnet REO) and 19g/t Scandium from 16m (22CVAC240)
§ 12m @ 799ppm TREO (17% Magnet REO) and 19g/t Scandium from 16m (22CVAC241)
§ 12m @ 719ppm TREO (21% Magnet REO) and 17g/t Scandium from 16m (22CVAC213)
“The sustained delivery of high-grade assays highlights the large-scale, high-grade rare earth opportunity at Circle Valley,” Managing Director, Tim Davidson, said.
“Pleasingly, the results continue to display very high proportions of the valuable magnet rare earths, which is an important determinant in the economics of these deposits.
“With metallurgical results now also showing there is a pathway to production of a commercial product and plans in place for infill drilling and delivery of an initial Mineral Resource this financial year, the team is making excellent progress advancing Circle Valley.
“In tandem with the work at Circle Valley and working with the Esperance Shire and community at our 100% owned Cascade Project, we remain on track for drilling to commence in the first half of FY23.
“Given the very high-grade rare earths intersected in the southern corridor, we are eager to get back and target the central and northern blocks, approximately 1,000 sq. km, within our remarkably large landholding.”
For further information please visit: https://meekametals.com.au/
