Announcement Date: 2022-05-30
Announcement Type: Drilling Results
Announcement Code: JORC
Company name: Meeka Gold Ltd.
Project name: Cascade
Location: Australia
Commodities: REO
Highlight: Drilling results incl. 16m @ 2223ppm REO from 44m
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: Meeka Gold Limited (ASX:MEK) (“Meeka” or “the Company”) is pleased to report results from 105 holes drilled within the eastern block of Cascade. Assays show shallow, high-grade mineralisation, up to 24m thick, within the saprolitic clays. The mineralisation has up to 45% of the rare earths content in high value magnet metals. Results have now been released that cover 1,143km2 (also see ASX announcement dated 16 May 2022) of the Cascade project area (total area = 2,068km2 ). This demonstrates the remarkable scale of the mineralisation at Cascade. In addition, the northern and central blocks of Cascade, a further 925km2 , have surface samples grading up to 633ppm TREO taken from the depleted surface zone. The northern and central blocks have never been drilled for rare earths. Planning is now underway to expedite this drilling. The unique chemical and physical properties of rare earths have positioned them as a critical material across a number of rapidly evolving markets and industrial applications. In particular, Neodymium and Praseodymium oxides, which are critical elements in the manufacture of permanent magnets used for electric motors, turbines and mobile phones.
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