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Met program drilling surprises with coarse
gold veins within Cabaçal mine's VMS Cu-Au-Ag layers
LONDON, Dec. 13, 2021 /CNW/ - Meridian Mining UK S (TSXV:
MNO) (Frankfurt: 2MM) (Tradegate:
2MM) (OTCQB: MRRDF) ("Meridian" or the "Company") is pleased to
provide an update from its ongoing metallurgical drill program
("the Program") at its camp scale Cabaçal Copper-Gold VMS Project
("Cabaçal") in Mato Grosso,
Brazil. The Program is designed to optimize recovery from
the VMS hosted Copper ("Cu"), Gold ("Au") and Silver ("Ag")
mineralization. The Company believes the Program has the potential
to replicate the commercial high recoveries achieved during its
former production life from 1987 to 1991. Unexpectantly, vertical
drill hole CD-088, has also cored veins hosting visible gold within
the old mine's workings; this is a first within the Cabaçal mine
zone by Meridian. The veins were hosted within a strong zone of
layered Cu mineralization. Meridian can confirm that its Cabaçal
drill program has intercepted coarse visible gold veins
overprinting Cabaçal's broad VMS-Cu-Au-Ag layers Northwest of the
mine, the mine itself and to the Southeast. A distance of
1,700m that remains open. The extent
of the gold mineralization within the visible gold identified
requires confirmation by assay.
Highlights of today's update:
- Meridian intercepts further veins of visible gold within the
broad Cabaçal VMS Cu-Au-Ag layers;
-
- Unexpected veins of visible gold from vertical hole CD-088
overprints strong copper zone;
- Cabaçal metallurgical drill program confirms gold veins
overprinting the historical mine's Cu-Au-Ag layers;
-
- 1st occasion that Meridian has cored visible gold
within the mine and via vertical drilling;
- Meridian confirms that the Cabaçal mine's (and its near mine
extensions) broad VMS Cu-Au-Ag layers are overprinted by later
stage veins hosting visible gold;
- Cabaçal's metallurgical samples to be tested now appropriately
replicate Cabaçal's mineral characteristics;
-
- Zones of broad layers of VMS hosted copper-gold-silver;
- Veins hosting visible gold overprinting the VMS sequence;
and
- Samples provide will be used for floatation and gravity
studies.
Dr Adrian McArthur, CEO and
President of Meridian, comments: "The visible gold intersected in
CD-088 is a pleasant surprise, encountered in an area of veining
and silicification between 61.2 to 65.7m in a vertical hole. CD-088 was drilled
adjacent to historical drill hole JUSPD388 in the Central Copper
Zone, which intersected (pre-mining) 41.9m @ 1.1% Cu 0.9g/t Au & 2.5g/t Ag from
44.0m. CD-088 has intersected two
levels of mining voids, between 69.5 - 73.7m, and 79.8 - 83.4m. We had expected the higher-grade zones to
have been extracted within these positions. Encountering visible
gold between the mining levels shows the high-grade late vein event
persists in vein arrays, ideally suited to a bulk mining approach
within this broad mineralized envelop to ensure full extraction,
with gravity recovery expected to play an important role as it had
done in the prior production history."
Metallurgy Program
The Metallurgical Program will gather representative samples
from the Eastern, Central and Western Copper Zones in the Cabaçal
mine environment, with additional drilling to target the northwest
extension. The Company is expecting 9 holes for 1100m of drilling planned (Figure 1; some
additional meterage may be required where hole cross voids to
gather sufficient volume for the Program). Metallurgical holes will
be cored with larger diameter HQ core, with quarter to be sent for
analysis, a quarter retained, and half sent for metallurgical tests
within Brazil and Canada. The prior operational processing
history of Cabaçal indicates a simple sulphide assemblage which is
dominated by Chalcopyrite (65%), with minor iron sulphides (25%
pyrite, 10% Pyrrhotite). Local zones in the basal horizon have more
elevated zinc, and some work will be conducted to understand and
optimize the properties of this material.
The metallurgical samples will be tested to quantify the
floatation characteristics and recoveries of chalcopyrite with
associated gold and silver, with gravity separation testing on the
free gold and associated silver content. This test work will also
include the estimation on the quality of the Copper concentrate
with gold & silver contents, and the gold (+silver) dore
estimate, produced from the gravity separation trials. The
objectives of the metallurgical test are to replicate or improve on
the recoveries of the historical data and to replicate the end
products of copper +gold-silver concentrates and gold +silver dore
that the mine produced during its previous period of operation.
Qualified Person
Dr Adrian McArthur, B.Sc. Hons,
PhD. FAusIMM., CEO and President of Meridian 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
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 UK Societas
