Meeka Metals (ASX: MEK)
Announced it has entered into an agreement with unrelated parties to acquire various Mining Tenements surrounding Mt Holland.
The Mining Tenements host significant gold mineralisation, including at Blue Vein, Bushpig and Razorback gold deposits.
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Drill site – Credits Meeka Metals
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| Meeka Metals | ASX: MEK | |
| Stage | Development, exploration | |
| Metals | Gold | |
| Market cap | A$398m @ A$0.13.5 | |
| Location | Near Kalgoorlie, Western Australia | |
| Website | www.meekametals.com.au |
Meeka Metals Announce Mt Holland South Gold Acquisition
Meeka Metals Limited (ASX: MEK) (“Meeka” or the “Company”) is pleased to announce it has entered into an agreement with unrelated parties to acquire various Mining Tenements surrounding Mt Holland.
The acquisition is subject to Completion and on the key terms and conditions.
The Mining Tenements host significant gold mineralisation, including at Blue Vein, Bushpig and Razorback gold deposits.
Verification of historical drilling is underway to facilitate the conversion of non-2012 JORC Mineral Resources to 2012 JORC standard.
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Highlights
Subject to Completion, Meeka has entered into a binding agreement to acquire
various gold Mining Tenements surrounding Mt Holland, within the Southern Cross
Province of Western Australia.
• Mt Holland is located 375km east of Perth in the Southern Cross Province of the Yilgarn Craton, one of the world’s premier gold provinces.
• The Mining Tenements have a combined area of 71km2 and cover ~24km of north-south striking banded iron formation (“BIF”) units, the principal host of gold mineralisation at Mt Holland
• The area historically produced ~1.2Moz of gold @ 5.12g/t Au prior to 2001 from the Bounty gold mine (not part of the Mining Tenement acquisition) when operations ceased due to the low gold price environment (~$500/oz)
• No significant gold focused exploration has been conducted on the Mining Tenements in the past ~15 years
• Strong exploration potential with little to no drilling below shallow gold intersections or
testing of geochemically anomalous zones along the ~24km of north-south striking interpreted BIF units
• Verification of historical drilling is underway to facilitate the conversion of non-2012 JORC Mineral Resources to 2012 JORC standard. The Blue Vein, Bushpig and Razorback gold deposits will be the priority and are expected to take 3-6 months
• Post Completion, an initial 20,000m of systematic drilling will commence, targeting the
~24km of north-south striking BIF units
• The Mining Tenements are strategically located near established regional infrastructure, including accommodation village, sealed airstrip, regional grid power and water, and with direct access via the Marvel Loch-Forrestania road
• The cash portion of the acquisition is to be funded by existing cash ($50.1M at 31 March 2026) and operating cashflows
• The Company has a clear strategy to grow and create shareholder value through the discovery, acquisition and development, and this transaction is aligned with that strategy.
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Meeka’s Managing Director Tim Davidson said:
“Having historically produced over 1.2Moz of gold, this Archaean greenstone belt is evidently fertile, yet the belt has received very limited modern exploration for gold over the past 15 years. This despite significant past production and strong evidence there is more gold to be found.
“The ~24km of north-south striking, gold hosting BIF within the acquired tenure present compelling targets for drilling and we intend to systematically drill out these targets over the next 12-18 months.”
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To read the full news release, please click HERE
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To view the latest Meeka share price and chart, please click HERE
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Disclosure
At the time of writing the author holds shares in Meeka Metals.
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