Meeka Metals Starts Second Mine Decline, Targeting First Ore in January 2027
Key Takeaways
- Meeka has started the Fairway decline at Turnberry, with first ore expected in January 2027 after portal and surface works finished in September 2026.
- Fairway's initial Probable Ore Reserve is 620kt at 2.5g/t Au for 50koz, against a 360koz underground Resource at 3.9g/t Au, roughly seven times the ounces.
- Deep drilling returned 52.3m at 3.0g/t Au and 18.0m at 3.0g/t Au, which the company says confirms mineralisation continues below the Reserve.
- Fairway sits 20km from the plant and joins the producing Andy Well mine, with an initial mine plan of about 18 months.
- The announcement gives no production guidance, costs or drilling programme details, so the economics and Reserve growth timing remain unproven.
Fairway decline underway as Meeka’s second high-grade ore source nears
Meeka Metals (ASX: MEK) has commenced decline development at Turnberry, its second underground mine at the Murchison Gold Project. The Fairway decline announcement was dated 12 October 2026.
First ore is expected from the Fairway decline in January 2027, adding a further high-grade ore source for the processing plant. Surface infrastructure and the portal were completed in September 2026, and decline development commenced in October 2026.
A decline is a sloping tunnel that gives vehicles and crews access to the orebody underground. For you as an investor, a second ore source matters because it is intended to lift production and further reduce reliance on any single production area.
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Fairway underground by the numbers
The Fairway decline will access an initial Probable Ore Reserve at Turnberry. Alongside it sits a much larger Mineral Resource, and the gap between the two is where the investment story lies.
Ore Reserve and Mineral Resource
Both estimates were first reported on 16 September 2026, so the figures below are not new.
| Category | Tonnes | Grade | Ounces | Note |
|---|---|---|---|---|
| Initial underground Probable Ore Reserve | 620kt | 2.5g/t Au | 50koz | Accessed by the Fairway decline |
| Current underground Mineral Resource | Not disclosed in announcement | 3.9g/t Au | 360koz | First reported 16 September 2026 |
The Resource is roughly seven times the Reserve by ounces. That shows the scale of ounces not yet converted into the economically mineable category.
Mine logistics
The announcement outlines how Fairway fits with existing operations:
- Located approximately 20km from the processing plant
- Ore will be trucked to the processing plant
- Will add a further high-grade ore source alongside the currently producing Andy Well underground mine
- Initial mine plan of approximately 18 months, as shown in the Fairway long section (Figure 5)
Growth potential below the Ore Reserve
Meeka says recent drilling highlights potential for growth beyond the initial Reserve. The next step is getting drills underground.
Drilling confirms depth continuity
Drilling completed in 2026 well below the Ore Reserve returned wide, high-grade intercepts (see ASX announcement of 22 July 2026), which the company says confirm that mineralisation continues at depth:
- 52.3m @ 3.0g/t Au (26TBRD002)
- 18.0m @ 3.0g/t Au (26TBRD004)
These are drill intercepts, not Reserves. They show where mineralisation has been found, not what has yet been classified as economically mineable.
Underground drill platforms
Underground drill platforms will be established off the decline in the coming months. The aim is to drill out and extend mineralisation efficiently, with the objective of converting it to Ore Reserves and extending mine life.
Drilling from underground is the pathway to growing the Reserve. The announcement does not disclose timing or metres for the programme.
Understanding decline development and Ore Reserves
Three ideas help make sense of the Fairway story:
- Decline: a sloping tunnel that gives underground access to the orebody. At Fairway, development began in October 2026.
- Mineral Resource versus Ore Reserve: a Resource is mineralisation with reasonable prospects of extraction, while an Ore Reserve is the economically mineable portion.
- Why conversion matters: turning Resource into Reserve is what can extend mine life, and it tends to build investor confidence in the longevity of an operation.
At Fairway, the 360koz Resource against a 50koz Reserve shows how much conversion potential the company is targeting.
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Management view and what comes next
Managing Director and CEO Tim Davidson framed the development as a step in reducing operational concentration.
Tim Davidson, Managing Director and CEO
“Bringing our second, high-grade underground mine online continues to de-risk the business, adding another ore source for the processing plant, lifting production and further reducing our reliance on any single production area.”
He also described the Reserve as a starting point: “The 50koz Ore Reserve is only a starting point.”
Key milestones from the announcement:
- October 2026: decline development under way
- Coming months: underground drill platforms established off the decline
- January 2027: first ore expected
The investment angle is twofold: more diversified ore sources and potential Reserve growth. The announcement does not disclose production guidance, costs or financials, so those remain open questions.
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