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- Meeka Gold (MEK) intersects up to 4029 parts per million (ppm) total rare earth oxides (TREO) at the Cascade project in WA
- Of the 85 holes drilled, 52 returned high-grade mineralisation with the lithology indicating the mineralised saprolitic clay horizon covers the western and eastern blocks
- Results from a further 105 holes drilled at the eastern block of Cascade are expected later in the month
- Meeka will now detail an activity plan to target the highest value mineralised zones and testwork will be sped up to understand the process of producing a commercial product
- Shares in Meeka ended the day 5 per cent in the green at 4.2 cents
Meeka Gold (MEK) has intersected up to 4029 parts per million (ppm) total rare earth oxides (TREO) at the Cascade project in WA.
Of the 85 holes drilled, 52 returned high-grade mineralisation with the lithology indicating the mineralised saprolitic clay horizon covers the western and eastern blocks.
Results include seven metres at 3826ppm TREO from 36 metres including three metres at 4029ppm TREO, and 29 metres at 629ppm TREO from eight metres including one metre at 3729ppm TREO.
Results from a further 105 holes drilled at the eastern block of Cascade are expected later in the month.
Meeka will now detail an activity plan to target the highest value heavy and magnet REO zones of mineralisation.
Furthermore, metallurgical testwork will be fast-tracked to gain an understanding of the process of producing a commercial product from Cascade.
“We are seeing shallow, broad, high-grade intersections over a large area. Results from the eastern block are due in late May 2022 and may expand the scale even further,” CEO Tim Davidson commented.
“Importantly, the results contain high levels of permanent magnet metals being neodymium-praseodymium oxides.”
“These metals are geopolitically critical and we intend to accelerate our understanding of Cascade with drilling commencing on the back of results from the eastern block and metallurgical testwork expedited.”
Shares in Meeka were up 5 per cent and were trading at 4.2 cents at market close.
