/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE
SERVICES OR FOR DISSEMINATION IN THE U.S./
Multiple high grade layers of Cu-Au
mineralisation including 9.6m @ 3.3%
CuEq assayed
LONDON, United Kingdom,
June 28, 2021 /CNW/ - Meridian Mining
UK S (TSXV: MNO) (Frankfurt: 2MM)
("Meridian" or the "Company") is pleased to report further assays
from its ongoing 10,000m drill
program at its Cabaçal Copper-Gold camp-scale VMS project
("Cabaçal") in Mato Grosso,
Brazil. Further wide zones of significant and extensive
Copper ("Cu"), Gold ("Au") and Silver ("Ag") mineralisation
starting at 9m, and with individual
aggregated mineralisation intercepts exceeding 110m, are reported for holes CD-014 to CD-019
(Table 1), within and extending out from the Cabaçal Mine (Figure
1). Encouragingly, several results such as CD-017 returned broader
than expected envelopes of mineralization, providing potential
upside to future resource calculations where historic holes have
been selectively sampled down hole. Meridian is also announcing the
field deployment of its modern and deep penetrating Electromagnetic
("EM") equipment with surveys in progress over the priority
1,000m long VTEM conductor of Cabaçal
West and then progressing to Cabaçal South's conductive corridor,
extending out from the Cabaçal mine's historical limits.
Highlights of today's results:
- Meridian drills multiple zones of high grade copper gold
mineralisation at Cabaçal;
- 30.0m, 40.0m and 60.0m
wide intervals of strong Cu-Au mineralisation drilled at
Cabaçal;
- CD-017 returned 46.0m @
1.0% CuEq from 29.0m,
including:
-
- 9.6m @ 3.3% CuEq from
56.0m;
- CD-019 returned 62.5m @
0.6% CuEq from 12.0m,
including:
-
-
- 2.5m @ 3.1% CuEq from
20.7m;
- 2.2m @ 3.5% CuEq from
53.5m;
- 17.2m @ 1.2% CuEq from
130m;
- Total aggregate mineralisation was 110.7m @ 0.6% CuEq from 12.0m;
- CD-015 returned an aggregate 46.0m @ 0.8% CuEq from 40.7m, including:
-
- 6.1m @ 1.0% CuEq from
67.2m; and
- 4.5m @ 3.0% CuEq from
77.9m
- CD-016 returned 26.0m @
0.5% CuEq from 42.5m.
- CD-014* returned 20.5m
@ 0.8% CuEq from 54.0m;
including:
-
- 6.8m @ 1.2% CuEq from
55.6m;
- 3.3m @ 1.0% CuEq from
69.2m; and
- CD-018* returned 14.2m
@ 0.4% CuEq from 9.0m.
Further results from Cabaçal will be released throughout 2021
supported by the Company's strong cash-on-hand position of CAD
~5.0M.
1 Note: True widths of CD-014 to 018
are approximately 90% of downhole lengths and assay figures and
intervals are rounded to 1 decimal place; the true width for CD-019
is approximately 75% of downhole lengths. 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 high grade drill results starting at shallow depths are
important in highlighting the excellent open-pit geometry that
Cabaçal presents." commented Dr Adrian
McArthur, CEO and President. "These results also really
surprised us by defining thick shallow layers of Cu-Au-Ag
mineralisation next to BP's drill results, but at intervals they
didn't assay. A common occurrence in the 1980's when full sampling
of core wasn't the norm. Our ongoing drilling is including a
proportion of verification targets but is also carefully targeting
positions where data is sparse; outside of the mine's limits. We
have also launched the exciting next stage of geophysical surveys
using our own modern IP & EM equipment, that now is in the
field. EM surveys have been initiated to map the down plunge
cluster of Cabaçal West VTEM conductors interpreted to be the
potential massive sulphide pile of Cabaçal. Then the EM surveys
will continue SE, out from CD-004 that returned 15.9m @ 4.0% CuEq.
The Company's program is advancing, with a combination of twin
and infill Diamond Drill Holes ("DDH") straddling the
Eastern-Copper Zone ("ECZ"), Central-Copper-Zone ("CCZ") and
Southern-Copper-Zone ("SCZ"). Over 4,800m of drilling has been completed to
date.
Central Copper Zone Results
CD-014 was designed to test Cu-Au mineralisation
(and collared) proximal to BP Mineral's historical DDH ("BP")
JUSPD048 that returned 20.1m @ 0.3%
Cu, 0.0g/t Au from 22m, 17.6m @ 0.3% Cu, 0.1g/t Au from 47.4m; 40.9m @ 0.7%
Cu, 0.6g/t Au from 68.4m). CD-014
returned comparable results to the upper copper zones of JUSPD048,
of 26.4m @ 0.3% Cu, 0.2g/t Au, 0.4g/t
Ag from 20.0m, and 20.5m @ 0.6% Cu, 0.3g/t Au, 0.4g/t Ag from
54.0m). CD-014 struck a void from
75.1m-78.5m; and was terminated without replicating the
lower results of JUSPD048.
CD-015 was designed to twin to BP's JUSPD068, which
historically returned 42.7m @ 0.7%
Cu, 0.5g/t Au from 43.8m in the CCZ.
CD015 traversed a mining void between 52.7 – 56.4m, and assays returned 20.0m @ 0.2% Cu, 0.1g/t Au, 0.7g/t Ag from
12.0m, and an aggregate 46.0m @ 0.4% Cu, 0.6g/t Au, 1.2g/t Ag from
37.0m2, comprising
15.7m @ 0.4% Cu, 0.1g/t Au, 0.7g/t Ag
from 37.0m above the void, and
30.3m @ 0.5% Cu, 0.9g/t Au, 1.5g/t Ag
from 56.4m. The lower zone included
higher grade intervals of 3.8m @
1.3% Cu, 0.4g/t Au, 1.7g/t Ag from 43.0m, and 6.1m
@ 0.4% Cu, 1.0g/t Au, 1.0g/t Ag from 67.2m, 4.5m @
1.0% Cu, 3.3g/t Au, 4.6g/t Ag from 77.9m. The hole terminated in mineralization due
to the drilling conditions.
CD-016 was designed to twin BP's JUSPD280 , which
historically returned 8.7m @ 0.3% Cu,
0.4g/t Au from 29.0m, 11.7m @ 1.3% Cu, 0.9g/t Au from 50.0m, and the lower limit of sampling
terminating in disseminated copper mineralization at 75.2m. CD-016 traversed a mining void between
85.2 - 86.2m but the hole terminated
at 87.1m. Assays returned results of
14.0m @ 0.3% Cu, 0.7g/t Ag from
20.0m, 26.0m @ 0.3% Cu, 0.3g/t Au, 1.4g/t Ag from
42.5m.
________
|
2 Assigning mining void null grade
and zero width.
|
Eastern Copper Zone Results
CD-017 was designed to twin BP's JUSPD265 that
returned 23.2m @ 0.8% Cu, 0.4g/t Au,
3.8g/t Ag from 44.6m (upper limit of
sampling) being collared 4.6m from
the historical collar. CD-017 returned 46.0m @ 0.8% Cu, 0.3g/t Au, 3.4g/t Ag from
29.0m, including a higher grade
interval of 9.6m @ 2.6% Cu, 0.9g/t
Au, 12.2g/t Ag, 0.1% Zn from 56.0m.
CD-018 was designed to twin BP's JUSPD301 that
returned 29.0m @ 1.8% Cu, 1.0g/t Au,
8.8g/t Ag from 36.0m. CD-018 returned
14.2m @ 0.3% Cu, 0.1g/t Au, 0.8g/t Ag
from 9m (an interval incompletely
sampled in JUSPD301, and 12.4m @ 0.3%
Cu, 0.3g/t Au, 0.7g/t Ag from 33.0m.
CD-018 encountered a void from 45.4 to 52.6m and was terminated without replicating the
lower results of JUSPD301.
CD-019 was designed to infill the ECZ and its
aggregated Cu-Au mineralisation returned 110.7m @ 0.6% CuEq of disseminated, stringer and
breccia sulphide mineralization, comprised of 62.5m @ 0.5% Cu, 0.1g/t Au, 0.8g/t Ag from
12.0m, 31.0m @ 0.2% Cu, 0.3g/t Au, 0.1g/t Ag from
84.0m, and 17.2m @ 0.8% Cu, 0.4g/t Au, 3.9g/t Ag from
130.0m. CD-019 terminated ~72m SE of
CD-0133 and results are consistent as a down dip
extension to those results.
________
|
3 See
Meridian News release June 15, 2021
|
![Figure 1: Top: CD-001 to CD-040 locations, CD-014 to CD-019 reported today. Bottom: NW-SE long section, pre-mining. (CNW Group/Meridian Mining S.E.) Figure 1: Top: CD-001 to CD-040 locations, CD-014 to CD-019 reported today. Bottom: NW-SE long section, pre-mining. (CNW Group/Meridian Mining S.E.)](https://mma.prnewswire.com/media/1552462/Meridian_Mining_S_E__Meridian_Drills_46_0m___1_0__CuEq_and_Provi.jpg)
Hole
Id
|
Zone
|
Intercept
|
Grade
|
From
|
CuEq
|
Cu
|
Au
|
Ag
|
Zn
|
Pb
|
|
|
(m)
|
(%)
|
(%)
|
(g/t)
|
(g/t)
|
(%)
|
(%)
|
(m)
|
CD-014
|
CCZ
|
26.4
|
0.4
|
0.3
|
0.2
|
0.4
|
0.0
|
0.0
|
20.0
|
|
|
20.5
|
0.8
|
0.6
|
0.3
|
0.4
|
0.0
|
0.0
|
54.0
|
Including
|
|
6.8
|
1.2
|
0.9
|
0.5
|
0.7
|
0.0
|
0.0
|
55.6
|
|
|
3.4
|
1.0
|
0.9
|
0.2
|
0.5
|
0.0
|
0.0
|
69.2
|
|
|
|
|
|
|
|
|
|
|
CD-015
|
CCZ
|
20.0
|
0.2
|
0.2
|
0.1
|
0.7
|
0.0
|
0.0
|
12.0
|
|
|
15.7
|
0.5
|
0.4
|
0.1
|
0.7
|
0.0
|
0.0
|
37.0
|
|
|
30.3
|
1.0
|
0.5
|
0.9
|
1.5
|
0.0
|
0.0
|
56.4
|
Including
|
|
3.8
|
1.5
|
1.3
|
0.4
|
1.7
|
0.0
|
0.0
|
43.0
|
|
|
6.1
|
1.0
|
0.4
|
1.0
|
1.0
|
0.0
|
0.0
|
67.2
|
|
|
4.5
|
3.0
|
1.0
|
3.3
|
4.6
|
0.1
|
0.0
|
77.9
|
|
|
|
|
|
|
|
|
|
|
CD-016
|
CCZ
|
14.0
|
0.3
|
0.3
|
0.0
|
0.7
|
0.0
|
0.0
|
20.0
|
|
|
26.0
|
0.5
|
0.3
|
0.3
|
1.4
|
0.0
|
0.0
|
42.5
|
|
|
|
|
|
|
|
|
|
|
CD-017
|
ECZ
|
46.0
|
1.0
|
0.8
|
0.3
|
3.4
|
0.0
|
0.0
|
29.0
|
Including
|
|
9.6
|
3.3
|
2.6
|
0.9
|
12.2
|
0.1
|
0.1
|
56.0
|
|
|
|
|
|
|
|
|
|
|
CD-018
|
ECZ
|
14.2
|
0.4
|
0.3
|
0.1
|
0.8
|
0.0
|
0.0
|
9.0
|
And
|
|
12.4
|
0.4
|
0.3
|
0.3
|
0.7
|
0.0
|
0.0
|
33.0
|
|
|
|
|
|
|
|
|
|
|
CD-019
|
ECZ
|
62.5
|
0.6
|
0.5
|
0.1
|
0.8
|
0.0
|
0.0
|
12.0
|
Including
|
|
2.5
|
3.1
|
2.9
|
0.4
|
4.9
|
0.0
|
0.0
|
20.7
|
|
|
2.2
|
3.5
|
2.9
|
1.0
|
4.3
|
0.1
|
0.0
|
53.5
|
And
|
|
31.0
|
0.4
|
0.2
|
0.3
|
0.1
|
0.0
|
0.0
|
84.0
|
And
|
|
17.2
|
1.2
|
0.8
|
0.4
|
3.9
|
0.1
|
0.0
|
130
|
|
Drill
Details
|
|
|
Hole
Id
|
Dip
|
Azimuth
|
EOH
|
|
|
|
|
|
|
CD-014
|
-59
|
60
|
78.5
|
|
|
|
|
|
|
CD-015
|
-89
|
110
|
86.7
|
|
|
|
|
|
|
CD-016
|
-90
|
000
|
87.1
|
|
|
|
|
|
|
CD-017
|
-89
|
029
|
91.4
|
|
|
|
|
|
|
CD-018
|
-89
|
272
|
52.9
|
|
|
|
|
|
|
CD-019
|
-55
|
165
|
174.1
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Table 1 Highlighted assay results for CD-014 through to
CD-019.
The mineralisation reported today is a consistent copper
dominant sulphide assemblage, present as disseminated, stringer,
brecciated zones with local semi-massive sulphides. The
confirmation of broad intact mine sequence stratigraphy returning
strong grades and presence of mineralization extending beyond the
limits of historically sampled core is a positive development. This
will further review of the database as further results emerge and
possibly additional drilling targeted are areas where drill density
and/or sample coverage are sparse. It will be important that all
mineralization is represented, including copper-dominant
mineralization of higher or lower grades that may been peripheral
to the focus of BP-Minerals/Rio Tinto's surface and underground
drilling programs.
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)
Stay up to date by subscribing for news alerts here:
https://meridianmining.co/subscribe/
Follow Meridian on Twitter:
https://twitter.com/MeridianMining
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). Silver is repeated by
method AAS12E. 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.
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.