Ann: 10m @ 5.20gt Au - More Shallow Open Pit Gold, page-14

“This is positive news for Meeka Metals (ASX: MEK). Here’s a summary:

✅ Key Positive Take-Aways

• Announcement Date: 29 May 2025
• Drill Results: Multiple shallow, high-grade gold intercepts including:
  
  • 10m @ 5.20g/t Au from 37m (including 2m @ 23.23g/t Au)
  • 1m @ 15.83g/t Au from 61m
  • Several other intercepts between 1.2–2.7g/t Au over good widths
• 
  
• Location: Turnberry Central, part of the Murchison Gold Project
• Significance:
  
  • These results are south of the current Stage 1 pit and extend the oxide resource closer to surface and further along strike.
  • The results suggest Stage 1 open pit mining will be expanded and extended beyond the current ~2 years in the DFS.
  • Reinforces potential to grow Reserves organically, without requiring acquisitions or major capex.
• 
  

Operational Progress

• Open pit mining is already underway
• Processing plant commissioning set for June 2025
• First gold expected mid-2025

Strategic Implication

• Higher-grade, shallow oxide gold means lower cost extraction and earlier cash flow upside.
• Strengthens the DFS production outlook and possibly boosts the project’s NPV and IRR.

In short, this is materially positive—supporting resource growth, life-of-mine extension, and improved economics.”