MURCHISON GOLD PROJECT

Large high grade gold resource with clear pathway to growth through exploration

Project Highlights

• High confidence, high grade 1.1Moz gold Mineral Resource with 65% in Measured and Indicated classification and clear pathway to growth through drilling of high priority near-mine exploration targets
• Strategic land holding in Murchison Gold Field central to 3x large gold processing plants (343km² Mining Leases and Exploration Licenses)
• Past production by Doray Minerals Limited of over 330,000 ounces at 8g/t gold when gold price was A$1,600/oz
• Extensive infrastructure remains in place at Andy Well
• Comprehensive exploration dataset ($30m replacement value) acquired with the project including sub-audio magnetic, aeromagnetic and gravity data, and a drill hole database containing 786,500m of geological information

Exploration Potential

The Andy Well and Gnaweeda Gold Projects cover the northern extent of the Mount Magnet Shear Zone (Andy Well Mine) and the Youanmi Shear Zone (Gnaweeda Project). The project tenure includes 46km² of granted Mining Leases and 297km² of Exploration Licenses. The projects are located adjacent to several multi-million ounce gold mines and large gold processing facilities which provide processing options without the need for capital intensive infrastructure (Figure 1).
At Andy Well the exploration target is shear hosted, high grade quartz vein style mineralisation where gold grades within the veining are in general above 30g/t (Figure 2).
At Gnaweeda the exploration target is a 7km gold anomalism where mineralisation is widespread and occurs within multiple mineralised envelopes, but predominantly concentrated in interpreted fold closures (Figure 3).
Meeka Gold sees a clear pathway to rapidly expand the known Mineral Resources through drilling near mine targets identified in historical drilling but until now have not received sufficient follow up drilling.

Figure 3: Gnaweeda existing mineral resources and exploration targets

Figure 4: Andy Well infrastructure

Geology Summary – Andy Well

Andy Well is located at the northernmost end of the north-northeast trending Archaean Meekatharra-Wydgee Greenstone Belt which comprises a succession of metamorphosed mafic to ultramafics, felsic and sedimentary rocks. Gold mineralisation at Andy well is orogenic shear hosted, high grade quartz vein style. Gold is frequently visible and finely dispersed throughout laminated, breccia and massive quartz types as well as with a lesser pyrite and other sulfides. Gold grades within veining are in general above 30g/t and there is no dissemination of mineralisation outside of the quartz vein. Mineralisation forms an extensive and largely continuous sheet of mineralisation. The largest lode defined to date strikes over 600m and extends 700m down dip, remaining open at depth. It is interpreted that shearing that hosts the mineralisation has developed adjacent to, and in response to, movement along the Mount Magnet Shear zone which is located less than 1km to the east of Andy Well. Shearing along the northeast-southwest trend is likely to have exploited lithological contacts due to rheological contrast between differing basalt flow compositions. Strain appears to have been preferentially accommodated in fractionated magnesium rich basalt flow bases which contain a higher proportion of ductile alteration minerals such as chlorite and talc compared to more robust flow tops. Regionally the Mt Magnet Shear Zone is associated with several other large gold occurrences in the Meekatharra-Wydgee greenstone belt.

Previous Exploration Summary – Andy Well

Prospects identified to date outside of the existing the Mineral Resource include:

Prospect Name

Suzie North

Drill Results

WBUG0124 – 3.6m @ 8.8g/t Au (130m below surface)

Prospect Name

Margaret

Drill Results

MNRC269 – 5m @ 4.5g/t Au (incl. 2m @ 10.4g/t Au)
MNRC266 – 5m @ 3.6g/t Au (incl. 1m @ 17.6g/t Au)

Prospect Name

Eastern Link

Drill Results

MNRC311 – 3m @ 13.5g/t Au (incl. 1m @ 40.2g/t Au)
MNRC444 – 1m @ 71.9g/t Au
MNRC377 – 6m @ 4.1g/t Au (incl. 1m @ 23.2g/t Au)
MNRC309 – 3m @ 6.5g/t Au (incl. 1m @ 18.7g/t Au)

Prospect Name

Highway

Drill Results

MNDD032 – 10m @ 2.00g/t Au (incl. 3m @ 5.98g/t Au)
MNDD049 – 5m @ 5.16g/t Au (incl. 1m @ 11.50g/t Au)

Prospect Name

Kirsty

Drill Results

WBUG0124 – 0.8m @ 16.7g/t Au (125m below surface)

Prospect Name

Windy

Drill Results

AWAR2014 – 56m @ 0.90g/t Au (incl. 9m @ 3.13g/t Au)
AWAR3119 – 24m @ 1.25g/t Au (incl. 12m @ 1.87g/t Au)
MNAC0634 – 16m @ 1.00g/t Au (incl. 8m @ 1.38g/t Au)

Figure 6: Gold in underground development at Andy Well

Geology Summary – Gnaweeda Project

The project is located at the northernmost end of the north-south trending Archaean Gnaweeda Greenstone Belt which comprises a succession of metamorphosed mafic to ultramafic, felsic and metasedimentary rocks. Lithologies are dominated by dolerites with the best section of mineralisation hosted within a magnetic quartz dolerite which forms a discrete ‘double bullseye’ aeromagnetic anomaly. The magnetic dolerite is likely to represent a fractionated portion of a layered dolerite sill with a contribution of magnetite from alteration creating the anomaly within the hinge of the folded mafic. Mineralisation is currently defined along a 1.5km strike at Turnberry which forms part of the larger 5.5km gold anomalism. Mineralisation is widespread and occurs within multiple mineralised envelopes, but predominantly concentrated in interpreted fold closures and has a probable sub-vertical plunge. Mineralisation can often be visually indistinct owing to several styles of mineralisation being present and manifested differently depending on the lithology of the host rock. There are a number of unrelated shearing and veining events however gold is usually accompanied by an increase in disseminated pyrite.

Previous Exploration Summary – Gnaweeda Project

Prospects identified to date outside of existing the Mineral Resource include:

Prospect Name

St Annes

Drill Results

SARC005 – 20m @ 2.4g/t Au (including 8m @ 5.0g/t Au)
20GNRC002 – 7m @ 2.2g/t Au (including 1m @ 5.8g/t Au)

Prospect Name

Chiddle Well

Drill Results

CWR096 – 7m @ 2.5g/t Au from 33m

Prospect Name

Bunarra

Drill Results

BN003 – 10m @ 18.5g/t Au from 113m (including 4m @ 39.8g/t Au)
BBP11 – 6m @ 5.9g/t Au from 30m
BBP2 – 3m @ 4.1g/t Au from 24m

Mineral Resource Statement

Mineral Resources previously reported to the ASX on 18th May 2021.

Andy Well Mineral Resource is reported using 0.1g/t cut-off grade.

Turnberry Open Pit Mineral Resource is reported within a A$2,400/oz pit shell and above 0.5g/t cut-off grade.

Turnberry Underground Mineral Resource is reported outside a A$2,400/oz pit shell and above 1.5g/t cut-off grade.