One of the ASX gold stocks making headlines right now is Meeka Metals Ltd (ASX: MEK), and it’s not hard to see why.

The mining stock has skyrocketed by a jaw-dropping 305% over the past year. Currently trading at 16 cents, the share price is up another 4.52% today, as investors respond to Meeka’s latest project update.

Meanwhile, the S&P/ASX All Ordinaries Index (ASX: XAO) is up a modest 0.51%.

Let’s break down why Meeka is one of the stocks to look out for in the current market.

‘First Gold’ on the Horizon at Murchison Project

Last Friday, Meeka provided a development update on its Murchison Gold Project—news that’s clearly energised investor sentiment.

The company said that upgrades to its processing plant are nearly done, and it expects commissioning to start this month. Translation: first gold is just around the corner.

Managing director Tim Davidson commented:

“With power to the plant and ore stocks on the ROM we are on track for commissioning and first gold in the coming weeks.”

Open-pit mining is continuing at St Anne’s North and Turnberry Central, where ore stockpiles are building. Meanwhile, underground development at Andy Well is close to completion, with essential power and ventilation now installed.

To support operations, Meeka expanded its accommodation village and began onboarding additional workers. These steps will allow the company to run both open-pit and underground mines simultaneously—accelerating the flow of high-grade ore to the plant.

This progress makes Meeka one of the mining companies in Australia that’s rapidly moving from explorer to producer.

Strong Drilling Results Could Extend Mine Life

Just before the development update, Meeka revealed new results from its Turnberry Central drilling campaign. Highlights include:

• 10m @ 5.20g/t gold from 37m, including 2m @ 23.23g/t (25TBRC009)
• 1m @ 15.83g/t from 61m (25TBRC009)
• 16m @ 1.39g/t from 34m, including 7m @ 2.25g/t (25TBRC019)
• 5m @ 2.68g/t from 55m, including 1m @ 10.33g/t (25TBRC016)

According to Meeka, these shallow, high-grade results—along with similar finds at Turnberry South—indicate potential for significant reserve growth. The company is now re-evaluating the Stage 1 open pit design.

These results further strengthen Meeka’s case as one of the emerging ASX gold stocks to watch closely.

Gold Sector Momentum Adds Fuel

The broader market is also giving a lift to gold explorers.

The price of gold remains elevated at US$3,363.77 per ounce—up over 28% so far in 2025—driven by ongoing demand for safe-haven assets.

This has helped drive the S&P/ASX All Ordinaries Gold Index (ASX: XGD) 2.51% higher today, with several mining stocks catching investor attention.

Meeka Metals jumped 7.41% last Friday, rose another 6.9% on Monday, and hit a 52-week high of 17 cents. With production imminent and fresh upside from drilling, it’s quickly becoming one of the most compelling stocks to look out for on the ASX.

For investors focused on mining companies in Australia, Meeka Metals may be just getting started.

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