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Extensive Shallow Copper-Gold mineralisation
now confirmed; remains open.
LONDON, May 25, 2021 /CNW/ - Meridian Mining UK S (TSXV:
MNO) (Frankfurt: 2MM) ("Meridian"
or the "Company") is pleased to report on the next batch of assays
returned from its ongoing 10,000m
resource delineation program at its Cabaçal Copper-Gold camp scale
VMS project ("Cabaçal") in Mato Grosso,
Brazil. Holes CD-005 through to CD-009 are reported today
(Figure 1) and have returned significant intervals and grades of
Copper ("Cu"), Gold ("Au") and Silver ("Ag") mineralisation (Table
1), across and outside of the limits of the historical Cabaçal
Mine. The Cabaçal mine was previously operated by BP Minerals/ Rio
Tinto, using a high Au only 3.0g/t cut-off grade. The recurring
presence of high-grade Au intercepts within the broad Cu-Au zones,
confirm that the Cabaçal mine's high-grade Au veins were mined to
the limits of the resource data and not to the limit of the Cu-Au
mineralisation; which remains open.
Drilling highlights today's drill results
- CD-005 returned 30.7m @
1.3% CuEq1 from 38.5m
(0.9% Cu, 0.6/t Au, 4.9g/t Ag & 0.1% Zn);
- CD-006 returned 17.7m @
2.4% CuEq from 113.0m (1.3% Cu,
1.5/t Au, 6.1g/t Ag & 0.3% Zn);
Including a higher grade zone of:
-
- 11.5m @ 3.4% CuEq from
118.5m (1.9% Cu, 2.2g/t Au, 8.9g/t Ag
& 0.3% Zn);
- CD-007 returned 35.1m @
0.6% CuEq from 30.3m (0.5% Cu,
0.2g/t Au & 2.2g/t Ag);
Including a higher grade zone of:
-
- 9.5m @ 1.6% CuEq
from 55.8m (1.3% Cu, 0.4g/t Au,
6.8g/t Ag, & 0.1% Zn);
- CD-008 returned 35.0m @
0.5% CuEq from 30.0m (0.3% Cu,
0.2g/t Au, 1.0g/t Ag, & 0.2% Zn);
Including a higher grade zone of:
-
- 12.2m @ 1.2% CuEq from
44.8m (0.8% Cu, 0.4g/t Au, 2.5g/t Ag
& 0.4% Zn)
- CD-009 returned 66.1m @
1.1% CuEq from 86.9m (0.6% Cu,
0.8g/t Au, 1.8g/t Ag);
Including higher grade zones of:
-
- 2.7m @ 10.0% CuEq from
86.9m (1.5% Cu, 14.0g/t Au, 7.0g/t Ag
& 0.1% Zn); and
- 12.8m @ 2.1% CuEq from
139.7m (1.7% Cu, 0.5g/t Au, 5.2g/t Ag
& 0.1% Zn).
1 Note: True widths are approximately
90% of downhole lengths and assay figures and intervals rounded to
1 decimal place. Copper Equivalents ("CuEq") have been calculated
using the formula CuEq = ((Cu%*Cu price 1% per tonne) + (Au ppm*Au
price per g/t) + (Ag ppm*Ag price per g/t) + (Zn%*Zn price 1% per
tonne)) / (Cu price 1 % per tonne). Commodity Prices: Copper ("Cu")
and Zinc ("Zn") prices from LME Official Settlement Price dated
April 23, 2021 USD per Tonne: Cu = USD 9,545.50 and Zn = USD
2,802.50. Gold ("Au") & Silver ("Ag") prices from LBMA Precious
Metal Prices USD per Troy ounce: Au = USD 1781.80 (PM) and Ag = USD
26.125 (Daily). The CuEq values are for exploration purposes only
and include no assumptions for metallurgical recovery.
|
"Today's drill results continue to deliver strong intervals of
Copper and Gold, starting at shallow depths, from our Cabaçal
project. Cabaçal's drill results to date, featuring robust grades,
wide intervals and excellent geometry combined with the known
metallurgy of the Cabaçal mine, highlights the Company's potential
to emerge as the next mid-tier copper-gold resource developer."
commented Dr Adrian McArthur, CEO
and President. "Cabaçal was previously selectively mined within a
series of gently dipping Copper-Gold sulphide layers using a high
Gold-only cut-off grade of 3.0g/t within a much broader mineralised
envelope. The current drilling has continued to intersect not only
extensive copper mineralization but also high-grade Gold
(2.7m @ 14g/t Au), showing that
high-grade trends remain open extending out from the limits of
historical development. Also, it was noteworthy that the last
12.8m of CD-009 graded over 2.0% CuEq
before being terminated by a mining void2. As we
continue to focus the first 8,000m of
our inaugural 10,000m drill and
trenching program on the Cabaçal mine, we still have 2,000m budgeted to confirm the already defined
near-mine and regional targets of our VMS camp. We expect that
additional results will continue through the summer and
autumn."
Meridian's drill results, mapping and Bore Hole Electro-Magnetic
("BHEM") surveys completed to date have confirmed that significant
thicknesses of Cu-Au mineralisation extend approximately
400m North-East South-West while the
historical selective underground workings have a ~650m North-West
South-East extent; the mineralisation is considered open.
Cumulative Cu sulphide layers (+Au-Ag) intercepted have also exceed
60m in thickness. The widths, mineral
assemblages and grades are generally in line with the historical
results. The near-mine soil and drill programs by BP Minerals in
the 1980's, the 2007 airborne EM survey's results and the Company's
recent re-interpretation have outlined the Cabaçal mine's immediate
area of interest is 3.7km in strike length.2 Other
regional targets within the Cabaçal VMS camp have anomalies of
similar extent.
_________________
|
2 See
Meridian news release of May 11, 2021.
|
Hole Id
|
Zone
3
|
Intercept
|
Grade
|
From
|
CuEq
|
Cu
|
Au
|
Ag
|
Zn
|
Pb
|
|
|
(m)
|
(%)
|
(%)
|
(g/t)
|
(g/t)
|
(%)
|
(%)
|
(m)
|
|
|
|
|
|
|
|
|
|
|
CD-005
|
ECZ
|
4.6
|
0.2
|
0.14
|
0.02
|
0.00
|
0.0
|
0.0
|
18.6
|
|
|
3.0
|
0.2
|
0.1
|
0.1
|
0.0
|
0.0
|
0.0
|
33.5
|
|
|
30.7
|
1.3
|
0.9
|
0.6
|
4.9
|
0.1
|
0.0
|
38.5
|
|
|
2.8
|
1.2
|
0.9
|
0.3
|
5.6
|
0.1
|
0.0
|
75.4
|
|
|
4.3
|
0.6
|
0.3
|
0.3
|
1.0
|
0.1
|
0.0
|
82.1
|
|
|
|
|
|
|
|
|
|
|
CD-006
|
SCZ
|
7.3
|
0.4
|
0.2
|
0.2
|
0.8
|
0.2
|
0.0
|
100.4
|
|
|
17.7
|
2.4
|
1.3
|
1.5
|
6.1
|
0.3
|
0.0
|
113.0
|
Including
|
|
11.5
|
3.4
|
1.9
|
2.2
|
8.9
|
0.3
|
0.0
|
118.5
|
|
|
6.2
|
1.9
|
1.5
|
0.5
|
5.3
|
0.1
|
0.0
|
156.0
|
|
|
|
|
|
|
|
|
|
|
CD-007
|
ECZ
|
35.1
|
0.6
|
0.5
|
0.2
|
2.2
|
0.0
|
0.0
|
30.3
|
Including
|
|
9.5
|
1.6
|
1.3
|
0.4
|
6.8
|
0.1
|
0.0
|
55.8
|
|
|
2.0
|
1.0
|
0.7
|
0.4
|
1.6
|
0.2
|
0.0
|
78.3
|
|
|
|
|
|
|
|
|
|
|
CD-008
|
ECZ
|
35.0
|
0.5
|
0.3
|
0.2
|
1.0
|
0.2
|
0.0
|
30.0
|
Including
|
|
12.2
|
1.2
|
0.8
|
0.4
|
2.5
|
0.4
|
0.0
|
44.8
|
|
|
|
|
|
|
|
|
|
|
CD-009
|
SCZ-
CCZ
|
3.0
|
0.2
|
0.2
|
0.0
|
0.2
|
0.0
|
0.0
|
40.0
|
|
|
8.0
|
0.3
|
0.2
|
0.0
|
1.0
|
0.0
|
0.0
|
62.0
|
|
|
66.1
|
1.1
|
0.6
|
0.8
|
1.8
|
0.0
|
0.0
|
86.9
|
Including
|
|
2.7
|
10.0
|
1.5
|
14.0
|
7.0
|
0.1
|
0.0
|
86.9
|
|
|
12.8
|
2.1
|
1.7
|
0.5
|
5.2
|
0.1
|
0.0
|
139.7
|
|
|
|
|
|
|
|
|
|
|
Drill
Details
|
Hole
Id
|
Dip
|
Azimuth
|
EOH
|
CD-005
|
-97
|
045
|
123.1
|
CD-006
|
-77
|
334
|
193.3
|
CD-007
|
-65
|
045
|
115.5
|
CD-008
|
-64
|
035
|
95.6
|
CD-009
|
-55
|
330
|
152.8
|
Table 1 Highlighted assay results for CD-005 through to
CD-009.
______________________
|
3 ECZ
Eastern Copper Zone, CCZ Central Copper Zone & SCZ South Copper
Zone
|
The mineralisation reported today is a consistent copper
dominant sulphide assemblage, present as disseminated, stringer,
brecciated zones with locally some semi-massive sulphides.
Dr. Adrian McArthur, B.Sc. Hons,
PhD. FAusIMM., CEO and President of Meridian Mining as well as a
Qualified Person as defined by National Instrument 43-101, has
supervised the preparation of the technical information in this
news release.
On behalf of the Board of Directors of Meridian Mining UK S
Dr. Adrian McArthur
CEO, President and Director
Meridian Mining UK S
Email: info@meridianmining.net.br
Ph: +1 (778) 715-6410 (PST)
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Further information can be found at www.meridianmining.co
Notes
Holes have been drilled HQ through the saprolite and upper
bedrock and reduced to NQ – mineralized intervals represent half NQ
drill core. Samples have been analysed at the accredited SGS
laboratory in Belo Horizonte. Gold
analyses have been conducted by FAA505 (fire assay of a 50g
charge), and base metal analysis by methods ICP40B and ICP40B_S
(four acid digest with ICP-OES finish). Samples are held in the
company's secure facilities until dispatch and delivered by staff
and commercial couriers to the laboratory. Pulps are retained for
umpire testwork, and ultimately returned to the Company for
storage. The Company submits a range of quality controls samples,
including blanks and gold and polymetallic standards supplied by
ITAK, supplementing laboratory quality control procedures. True
widths are interpreted to be ~90% of intersection widths.
Electromagnetic surveys over Cabaçal have been conducted by
Geomag S/A Prospecções Geofísicas, a company of the Wellfield
Services Group, using a TEM57-MK2 Transmitter and PROTEM receiver
for surface surveys and BH43-3 borehole three-dimensional time
domain (TDEM) probe for subsurface work. Quality control is
performed daily by the geophysical representative of the Wellfield
Group, before and data sent to the Company's independent
consultant, Core Geophysics. Modelling of conductivity responses is
undertaken using industry-standard Maxwell software. Geophysical
targets are preliminary in nature and not conclusive evidence of
the likelihood of a mineral deposit.
ABOUT MERIDIAN
Meridian Mining UK S is focused on the acquisition, exploration
and development activities in Brazil. The Company is currently focused on
resource development of the Cabaçal VMS Copper-Gold project,
exploration in the Jaurú & Araputanga Greenstone belts located
in the state of Mato Grosso;
exploring the Espigão polymetallic project and the Mirante da Serra
manganese project in the State of Rondônia Brazil.
FORWARD-LOOKING STATEMENTS
Some statements in this news release 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.
Geophysical exploration targets are preliminary in nature and not
conclusive evidence of the likelihood of a mineral deposit.
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.