LONDON, July 24, 2020 /CNW/ - Meridian Mining SE
(TSXV: MNO) ("Meridian" or the "Company") is pleased to announce
the assay results from six manganese oxide samples taken from the
Mirante da Serra sedimentary hosted manganese project ("Mirante")
and analysed by ALS laboratories. The samples were split from a
110kg batch of manganese oxide concentrate collected for a market
scoping exercise, with duplicate samples sent to historical and
interested clients of the Mirante mineralization.
Highlights of the assay results are:
- The Mn oxide concentrates returned an average grade of 58.2%
MnO (45.1% Mn)
- The grade is higher than the Tianjin benchmark of 44% Mn
- All concentrates returned below detection limits for lead
(<0.01% PbO) - consistent with levels anticipated from
Mirante.
The preferred combination of high Mn content and below detection
lead content outlines the potential of the project, from the
largest composite sample yet collected from Mirante colluvial
mineralization. The broken rock of the colluvial material provides
an excellent medium for conventional gravity separation (wet and
dry screening).
The six samples analysed by ALS were collected from the northern
sector of Mirante, where manganese oxides are distributed at
surface over a semi-continuous corridor extending over 4 km (Figure
1). The colluvial mineralization is characterized by a high
abundance of densely packed coarse manganese oxide gravels and
boulders. The colluvial horizon is interpreted to directly overlie
the source sedimentary units. Historical pitting sites inspected
during the Company's due diligence program provide good access to
the top of the colluvial profile. At the sample site, the colluvial
profile is at least 1.50m thick.
Examples are seen elsewhere where the where the colluvial profile
is up to 1.65m thick.
The concentrate returned high-grade manganese results (Figure 2;
Table 1) further validating conclusions of the earlier due
diligence program, that the project offers potential to provide an
excellent product to domestic and export markets. The Company has
planned an exploration and resource definition program to test the
colluvial and bedrock resource potential, to a standard compliant
with NI43-101 requirements. Historical pitting and trenching has
focused on the colluvial mineralization, with the bedrock potential
of the sedimentary source horizon yet to be drill tested. The
Company is awaiting assessment of reports submitted to the ANM in
order to execute these programs.
Dr Adrian McArthur, CEO, states,
"These high-grade manganese oxide results from Mirante support
our belief that this sedimentary manganese system provides an
excellent target for both quality and scale, with manganese oxides
distributed over a 4km by 500m
area. Brazil is
well-endowed in sedimentary style manganese deposits, with
well-established domestic markets for steel and fertiliser
industries, and has been a significant international exporter over
the years. We look forward to testing this project to open a new
frontier through exploration and resource delineation
programs."
Notes
Samples of colluvial manganese oxide were homogenized, divided
into 5kg sub-lotes and crushed at the Company's preparation and
screening laboratory at Espigao do Oeste. Five samples were sent to
ALS for pulverisation at Goiânia, Brazil, and analysis through fusion XRF
techniques method code ME-XRF26s, in Lima
Peru. Analytical quality is monitored by certified
references and blanks. Until dispatch, samples are stored in the
company's supervised stockpile yard. The samples are couriered to
the assay laboratory using a commercial contractor. Duplicate
samples have been sent to potential clients.
Qualified person
The technical information about the company's exploration
activity and exploration target range has been reviewed and
approved under the supervision of Dr. Adrian McArthur (BSc Hons, PhD Geology and
FAusIMM), the Chief Executive Officer of Meridian Mining S.E., who
is a qualified person within the meaning of National Instrument
43-101.
On behalf of the Board of Directors of Meridian Mining S.E.
Dr. Adrian McArthur
Chief Executive Officer
Meridian Mining S.E.
ABOUT MERIDIAN
Meridian Mining SE is focused on the acquisition, exploration,
development and mining activities in Brazil. The Company is currently focused on
exploring and developing the Espigão copper gold polymetallic
project, the Mirante da Serra manganese project and maintaining the
Ariquemes tin exploration portfolio in the state of Rondônia,
Brazil.
Further information can be found at www.meridianmining.co.
FORWARD-LOOKING STATEMENTS
Some statements in this presentation contain forward-looking
information or forward-looking statements for the purposes of
applicable securities laws. These statements include, among
others, statements with respect to the Company's plans for
exploration, development and exploitation of its properties and
potential mineralisation. These statements address future
events and conditions and, as such, involve known and unknown
risks, uncertainties and other factors, which may cause the actual
results, performance or achievements to be materially different
from any future results, performance or achievements expressed or
implied by the statements. Such risk factors include, among others,
failure to obtain regulatory approvals, failure to complete
anticipated transactions, the timing and success of future
exploration and development activities, exploration and development
risks, title matters, inability to obtain any required third party
consents, operating risks and hazards, metal prices, political and
economic factors, competitive factors, general economic conditions,
relationships with strategic partners, governmental regulation and
supervision, seasonality, technological change, industry practices
and one-time events. In making the forward-looking
statements, the Company has applied several material assumptions
including, but not limited to, the assumptions that: (1) the
proposed exploration, development and exploitation of mineral
projects will proceed as planned; (2) market fundamentals will
result in sustained metals and minerals prices and (3) any
additional financing needed will be available on reasonable
terms. The Company expressly disclaims any intention or
obligation to update or revise any forward-looking statements
whether as a result of new information, future events or otherwise
except as otherwise required by applicable securities
legislation.
The Company cautions that it has not completed any feasibility
studies on any of its mineral properties, and no mineral reserve
estimate or mineral resource estimate has been established.
In particular, because the Company's production decision relating
to Meridian Mineração Jaburi S.A, manganese project is not based
upon a feasibility study of mineral reserves, the economic and
technical viability of the Espigão manganese project has not been
established
The TSX Venture Exchange has neither approved nor disapproved
the contents of this news release. Neither TSX Venture Exchange nor
its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
SOURCE Meridian Mining S.E.
