LONDON, ON, July 28, 2020 /CNW/ - Meridian Mining SE (TSXV:
MNO) ("Meridian" or the "Company") is pleased to announce plans to
reinitiate exploration programs in August following the successful
$3.5M capital raising. Meridian has a
portfolio of advanced exploration and resource development projects
in the state of Rondônia, Brazil,
comprising three hubs:
- The Espigão Project, focussed on exploration for copper-gold
mineralization
- Mirante da Serra, a resource definition project for
sediment-hosted manganese oxide
- The Ariquemes Project, located in Brazil's second largest tin field.
Exploration activities will first focus on the Espigão
Copper-Gold Project, to capitalize on an advanced aerial
geophysical dataset and refine and prioritize targets for drilling.
Campaigns will initially involve: 1) extension of soil surveys
along corridors which have previously lacked gold and multi-element
soil geochemistry; 2) expansion of the reconnaissance
stream-sediment pan-concentrate database; and 3) completion of
Maxwell plate modelling of conductors from Company's airborne
survey.
The northern structural corridor (Eduardo Mendes - Califórnia Trend; Calça Frouxa
Trend) will be prioritized for initial soil surveys (Figure 1).
This trend hosts a cluster of conductivity anomalies yet to be
fully modeled. Some drainages from the area are known to have gold
counts in pan-concentrates, the source of which is yet to be
determined. The objective of the soil program will be to refine the
ranking of the various conductive trends through base metal, gold
and pathfinder element analysis, and use the results used to guide
and prioritize any ground geophysics considered necessary for
drilling.
Programs at the Mirante Project await assessment of reports
submitted to the ANM, in order to reinitiate exploration. The
Company is encouraged by the recent concentrate grades reported
last week for its market scoping exercise1. The Company
is considering opportunities for partnerships on its Ariquemes
Project.
Dr Adrian McArthur, CEO, states,
"We are looking forward to the results of this year's
exploration campaign at the Espigão Copper-Gold Project, which will
build valuable context to an area with a high concentration of
aerial geophysical anomalies co-incident with base metal and gold
trends. Geochemical programs will extend to additional corridors
under review where breccia / stockwork systems have been locally
identified but have limited exposure in the tropical weathering
environment. We expect a number of exciting drill targets to emerge
from soil programs and geophysical review".
1 See Meridian news releases: July 24, 2020
Notes
The HeliTEM survey was flown in 2015 by LASA Prospecções S.A.
/ CGG and is an advanced broad-spectrum helicopter electromagnetic
system with an ability to measure conductors at depth. 7,300-line
kilometres were flown on 100-metre spacings. Geochemical responses
associated with the trends are based on the Company's past
exploration and production programs on its manganese
operations. Prior exploration was principally focussed on
trenching, pitting, and shallow drilling (average depth: 40 meters
below surface). Analyses at SGS in Belo
Horizonte, Brazil, are via XRF79C_10 and ICP40B for major
oxides and trace elements. Production samples have been analysed by
ME-XRF26 at ALS in Lima,
Peru.
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.
Ph: +1 778-715-6410 (PST)
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.
COVID-19
The Company have a number of protocols in place concerning
COVID-19, and is maximising use of local labour to minimize
exposure whilst monitoring trends. To date, none of the Company's
employees have contracted the virus.
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.
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.
