Meeka Metals has reported an initial mineral resource of 270,000 ounces at 2.4 grams per tonne (g/t) gold for its Mt Holland project in Western Australia.
The addition has increased Meeka’s group mineral resource to approximately 1.5 million ounces at 2.8g/t gold, while its ore reserves stand at 355,000 ounces at 2.8g/t gold.
Mt Holland is located 375km east of Perth in the Forrestania greenstone belt, within the Southern Cross Province of the Yilgarn Craton.
Meeka’s 71km² landholding covers approximately 24km of north–south striking banded iron formation units, which are the principal host of gold mineralisation at Mt Holland.
The initial resource comprises the Blue Vein, Bushpig and Razorback deposits and is supported by approximately 90km of shallow historical drilling. All three deposits remain open and are considered likely to grow with further exploration.
Meeka managing director and chief executive officer Tim Davidson said the initial estimate provided a foundation for future growth.
“This initial resource is a good start and we believe the ground has a far larger gold endowment than presently defined,” Davidson said.
“Having historically produced approximately 1.2 million ounces at 5g/t gold, this fertile Archaean greenstone belt presents a compelling growth opportunity for us which we can systematically drill over the coming 12–18 months.”
The area historically produced approximately 1.2 million ounces at 5.12g/t gold from the Bounty gold mine, located 5km north of Blue Vein and not owned by Meeka. Operations at Bounty ceased in 2001 amid a low gold-price environment of approximately $500 per ounce.
No significant gold-focused exploration has been undertaken across Meeka’s Mt Holland tenure for approximately 15 years. The company plans to drill its exploration and resource growth opportunities over the next 12–18 months.
“We have grown the resource through acquisition this year,” Davidson said.
“We expect growth next year to be through the drill bit with the substantial drilling we are currently completing in the Murchison and soon to begin at Mt Holland.”
Potential additions in the Murchison include Rosapenna and the high-grade depth extension at Turnberry, alongside multiple targets at Mt Holland.