Turnberry Drilling Yields 10m at 5.20g/t Gold, Extending Open Pit by 200m

Strong Drilling Results Expand Turnberry Open Pit

Meeka Metals Limited has announced compelling new drilling results from its Turnberry Central area, part of the broader Murchison Gold Project in Western Australia. The recent reverse circulation drilling campaign has intersected thick, shallow zones of high-grade oxide gold, notably including 10 metres at 5.20 grams per tonne gold from just 37 metres depth, with a standout 2-metre interval grading 23.23 grams per tonne. These results extend the known mineralisation up-dip towards the surface and push the Stage 1 open pit boundary approximately 200 metres further south than previously planned.

Implications for Mine Life and Production

The significance of these findings lies in their potential to materially increase the mineable oxide gold reserves within the initial Stage 1 open pit. The Definitive Feasibility Study (DFS) released in December 2024 outlined a ~2-year oxide open pit mining plan at Turnberry Central, optimised at a gold price of AUD 2,350 per ounce. With these new drill results, Meeka Metals is now re-evaluating the pit design to incorporate the expanded mineralisation, which could extend the oxide open pit mine life and increase early production volumes.

Managing Director Tim Davidson highlighted that the broad zones of shallow, high-grade gold discovered so far indicate a larger oxide gold inventory than originally contemplated in the DFS. This organic growth opportunity could enhance the project’s economics and production profile as the company prepares for process plant commissioning in June 2025.

Ongoing Exploration and Development Activities

Open pit mining is currently underway at Turnberry Central and St Anne’s North, with ore being stockpiled ahead of the processing plant’s start-up. Drilling continues at Turnberry South, where a new ore zone was recently intersected, including a notable 21 metres at 5.13 grams per tonne gold from 51 metres depth. These exploration efforts underscore Meeka’s commitment to expanding the resource base and optimizing the production plan.

Looking ahead, the company is also advancing underground mining preparations at the high-grade Andy Well mine, with ore development and growth drilling scheduled to commence alongside the process plant commissioning. These parallel activities position Meeka Metals to ramp up production and capitalize on its growing resource inventory.

Context Within the Murchison Gold Project

The Murchison Gold Project hosts a substantial 1.2 million ounce mineral resource at an average grade of 3 grams per tonne gold, situated on granted mining leases. The project’s DFS projects a 10-year production plan averaging 65,000 ounces per annum over the first seven years, with an undiscounted pre-tax free cash flow of AUD 1 billion and an internal rate of return of 180%. The recent drilling success at Turnberry Central adds momentum to these robust fundamentals, potentially enhancing the project’s value and longevity.