CD046 intercepts 11.7m @ 5.7g/t Au, along strike from JUSPD-216's
3.2m @ 237.7g/t Au
/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES
OR FOR DISSEMINATION IN THE U.S./
LONDON, Sept. 2, 2021 /CNW/ - Meridian Mining UK S (TSXV:
MNO) (Frankfurt: 2MM) (OTCQB:
MRRDF) ("Meridian" or the "Company") is pleased to report the first
results of its drill program targeting a 750m long high-grade gold ("Au") trend northwest
of the Cabaçal Mine; the Cabaçal Northwest Extension ("CNWE"). CNWE
is part of the Cabaçal Copper-Gold Project ("Cabaçal") in
Mato Grosso, Brazil. CD046
intercepted a high-grade gold zone of 11.7m @ 5.7 g/t Au including 0.3 @ 183.4 g/t Au,
within a broader Copper ("Cu") and Silver ("Ag") rich zone. The
hole was located as a 50m step out
from BP's diamond drill hole JUSPD216 that reported1
3.2m @ 237.7g/t Au, including
0.45m @ 1672.1 g/t Au. CNWE's high
grade gold trend extends out from the Cabaçal mine and is hosted by
the same shallow dipping Cu-Au-Ag VMS stratigraphy, that like the
Cabaçal gold mine, is over-printed by a later stage Northwest
trending high grade gold event that is sub-vertical in nature. The
drilling along the CNWE, is sparse and principally vertical, poorly
covering these sub-vertical high grade Au structures that can host
extremely high gold values.
Highlights of today's update:
- Meridian reports unmined 750m
open extension to high-grade gold trend with 11.7m @ 5.7 g/t Au, 0.3% Cu and 1.9g/t Ag
from 69.45m;
-
- Peak assays include 183.4 g/t Au, 4.0% Cu and 30.1 g/t
Ag2;
- CD046 returns 11.7m @ 5.7 g/t Au
in a 50m step out from JUSPD-216's
3.2m @ 237.7 g/t Au;
- High Grade 750m gold trend being delineated at the Cabaçal
Northwest Extension;
- The Cabaçal Northwest Extension's high grade gold trend remains
open, infill drilling continues; and
- CD046 is up dip from the Cabaçal West's 1000m BHEM conductor.
"CD046's results strengthen our belief that the Cabaçal
Northwest Extension has the potential to host significant high
grade gold and VMS type Cu-Au-Ag mineralization" commented Dr
Adrian McArthur, CEO and President.
"We will continue to test these near-mine extensions, which were
historically drilled vertically on very broad ~100m spacings. The
historical vertical holes were designed for the flatter lying
Cu-Au-Ag VMS stratigraphy present, but under-represent the
potential seen in these later stage high-grade gold structures with
steeper dips. Today's results show great promise for delivering
further strong gold results from infill and extensional drilling
along the Cabaçal Northwest Extension's trend."
____________________________
|
1 Historical analytical methods
summarised in the Note section below
|
2 Sample ID: CBDS05519 (Au & Ag
values), CBDS05509 (Cu value)
|
Figure 1. Top: Location of the CD-046 intersection, in
relation to historical results seen in very broad spaced
reconnaissance drilling historically conducted at the Northwest
Extension. Bottom: Cross section (+/- 35m window), looking Northwest showing the
location of CD-046 in relation to historical drilling 50m to the Southeast.
Following the review of the geological database that
incorporated many first-hand discussions and the review of the
original maps by the actual geologists of the Cabaçal Mine. It was
noted that various high to extremely high gold intercepts within
the Cabaçal mine were:
- Related to sub vertical structures that trended
Northwest-Southeast;
- These gold hosting structures continued outwards from the
mine's workings;
- These structures have a high angle to sub-vertical dip to the
Southwest; and
- Were hosted within the broader flat lying Cu-Au-Ag VMS
layers.
The Company reviewed the drill hole database for potential
extensions to these high grade gold structures and the CNWE was
targeted for its strong intercepts of high to extremely high gold
assays leading out from the mine. This trend however is very
sparsely covered by angled drilling, that is needed to intercept
both the shallow-dipping VMS stratigraphy and the later
sub-vertical structures; most of the historical holes are vertical
and likely to miss a vertical structure. A prominent gold-in-soils
anomaly commences over the Cabaçal Mine and extends over 1km,
straddling both the Mine and the Northwest Extension trend,
providing a broad target for infill drilling to test the high-grade
gold (and base metal) potential.
Having now intersected high-grade gold mineralization to the
Northwest and Southeast of the mine's workings in the current drill
program, it is apparent that the closure of the mine was influenced
by the geographical limit of the data that supported the BP / RTZ
reserve estimation, but the mining ended in mineralisation that is
considered open.
CD-046 is 1km east of the Cabaçal West BHEM conductor, and the
Company is highly encouraged by the strong base metal intervals
seen in the lower sector of CD-046. This includes a lower zone of
elevated Cu-Au-Ag & Zn including 3 metres where Zn was grading
higher than 1.0% (102 to 105m).
Hole Id
|
Zone*
|
Intercept
|
Grade
|
From
|
CuEq
|
Cu
|
Au
|
Ag
|
Zn
|
Pb
|
|
|
(m)
|
(%)
|
(%)
|
(g/t)
|
(g/t)
|
(%)
|
(%)
|
(m)
|
CD-046
|
NWE
|
11.7
|
3.7
|
0.3
|
5.7
|
1.9
|
0.0
|
0.0
|
69.45
|
Including
|
|
0.3
|
|
4.0
|
9.8
|
12.2
|
0.0
|
0.0
|
69.45
|
|
|
0.3
|
|
2.0
|
20.9
|
13.9
|
0.0
|
0.0
|
70.95
|
|
|
0.3
|
|
0.5
|
183.4
|
30.1
|
0.0
|
0.1
|
75.7
|
and
|
|
5.8
|
0.7
|
0.4
|
0.1
|
3.4
|
0.8%
|
0.0
|
99.2
|
|
Drill
Details
|
|
|
Hole Id
|
Dip
|
Azimuth
|
EOH
|
|
|
|
|
|
|
CD-046
|
-58
|
068
|
130.4
|
|
|
|
|
|
|
JUSPD-216
|
-90
|
000
|
139.4
|
|
|
|
|
|
|
Table
1
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Qualified Person
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
Stay up to date by subscribing for news alerts here:
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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). 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.
Samples for historical Cabaçal drill programs were analysed
by for gold by 50g Fire Assay with AAS finish, copper
three-acid-digest and AA finish, and silver by Aqua Regia by AA
finish at BP Mineral's laboratory at Bonsucesso
(Rio de Janeiro, Brazil),
Samples were prepared at Caxias and the mine site itself.
Half–core was dried, crushed to a quarter inch size through a jaw
crusher, pulverised to 150 mesh in a ring mill, passed through a
Jones Splitter to produce a 100–200g split, with one sample
archived for reference and the other dispatched for analysis. BP
Mineral's quality control program included duplicate analyses, and
periodic checks using independent laboratories
The true width of the CD-046 intersection is approximately
75% of the downhole length 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 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 & Silver
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.
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
mineralization. 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.