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Trenching program discovers 44.0m @ 1.5 g/t Au
2km southeast of Cabaçal
LONDON,
UK, April 5, 2022 /CNW/ - Meridian Mining UK S
(TSX: MNO), (Frankfurt/Tradegate:
2MM) (OTCQB: MRRDF), ("Meridian" or the "Company") is pleased to
announce a surface discovery of gold mineralization via its
trenching program at its camp scale copper-gold VMS Project
("Cabaçal") located in Mato Grosso,
Brazil. The Company has cut a 44m zone of strong, structurally hosted gold
mineralization grading 1.5g/t Au in TR_020. This trenching
followed a high-grade gold-in-soil
anomaly1 at the southern limit of the
C4A prospect, bordering the C2A prospect, approximately 2km to the
southeast of the Cabaçal Mine (Figure 1), and 7km to the northwest
of the Santa Helena deposit. This discovery is part of our ongoing
"near-mine" prospect evaluation program and emphasizes the
Company's potential for new satellite discoveries outside of the
Cabaçal and Santa Helena Mines'
spheres along the 11km Cabaçal Mine Corridor (Figure 2).
Highlights of today's announcement:
- Meridian discovers new surface gold trend in trenching
2km southeast of Cabaçal Mine;
- Trenching program discovers new gold trend with assays
returning 44.0m @ 1.5g/t Au;
-
- High grade core zone grades 12.0m @ 4.5g/t Au & 0.4g/t Ag;
- TR_020 is at the Northwestern limit of an open 3.5km
copper-gold-zinc anomaly;
- TR_020 discovery starts to outline the possibility of
scalability of the Cabaçal copper-gold camp;
- Numerous untested adjacent targets; including:
-
- A 700m chargeability
anomaly, south and along strike from TR_020, providing further
upside potential for Meridian; and
- Planning for additional prospecting, mapping, geophysics
and trenching, is underway to prioritize drill targets.
Dr Adrian McArthur, CEO and
President of Meridian, stated, "This new discovery of a new
gold trend at surface is a testament to our team's methodical
technical approach. Today's trenching result is among the strongest
I have encountered in my career and implies an opportunity for
targeting additional resources at satellite targets. We look
forward to drilling under and down plunge from this trench and
testing further regional targets along the 11km Cabaçal Mine
Corridor. These results help us construct concepts of scalability
and adapt future timelines to reflect the tremendous potential we
see at Cabaçal to become a leading mid-tier mining camp. I
congratulate the team on this new discovery."
This trenching result supports the conclusions of the NI43-101
Property Report2 that the project area offers
considerable scope for additional discoveries. TR_020 is open to
the northwest and lies at the northern end of a 3.5km
copper-zinc-lead anomaly that extends to the
southeast3. Concurrent to TR_020's trenching
program, an Inverse Polarization ("IP") geophysical survey defined
associated chargeability anomalies flanking the trench and
extensive chargeability anomalies along strike (Figure 3).
Management believes TR_020's geological model of high-grade gold
overprinting gently dipping VMS units is consistent with what has
been encountered elsewhere in the Cabaçal Belt. The trench sequence
consists correlative host units to the Cabaçal Mine ("CTB") –
banded cherty tuffacous volcaniclastic rocks, overprinted by a
package of folded quartz veins striking northwest at right angles
to the trench axis. The folds plunge moderately to the NW.
Significantly, the results show the gold mineralization can become
detached from immediate VMS base metal system, exploiting a
structural extensions through the late-stage gold overprint
event.
___________________________________
|
1
|
Meridian PR February 3,
2022.
|
|
2
|
Refer to Meridian's
SEDAR filing of 11 March 2022.
|
|
3
|
Meridian PR December 6,
2022.
|
The strong result reflects the Company's ability to leverage off
and build upon the extensive regional dataset established in the
1980s to early 1990's when the project was managed by BP Minerals
and Rio Tinto. During the initial reconnaissance phase between 1981
and 1984, BP Mineração deployed a workforce of around 70 people
including 10 geologists, 10 mining technicians and 3 geophysical
technicians. This grew in the pre-development and commissioning
phase (1984 and 1989) to reportedly over 200 people, including 20
geologists, 15 mining technicians, 5 geophysical technicians, 2
geotechnicians, 3 mining engineers, 3 surveyors, field assistants,
administrative staff plus the contractors.
The development focus on the Cabaçal Mine left regional targets
untested or in the early stages of reconnaissance testing. The
Company has a direct link to this knowledge base with past members
of the BP /RTZ team on advisory board and staff, and is now
starting to capitalize on these results, by applying cutting edge
geophysical methods to a solid base of geological and geochemical
data established by the major Companies.
Meridian's near-term development program is focused on the
large-scale copper-gold Cabaçal deposit, now complemented with the
historically higher-grade Santa Helena satellite deposit, and other
regional targets.
Notes
Samples of trenches has been taken via a continuous channel
sample using a 5cm face sampling tool to generate a consistent
volume of sample scaled by tape measure and with the trench path of
sampling points verified by RTK survey.
Samples have been analysed at the accredited SGS laboratory
in Belo Horizonte. Sample
preparation is undertaken using a standard procedure (PRP102_E),
involving drying, Crushing so that 75% passes <3 mm,
homogenization of the sample, splitting with a Jones riffle
splitter to give a split sample mass of 250-300g; Pulverization of
250 to 300 g with 95% passing mesh size 150#. 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). Analytical quality is monitored by certified
references and blanks. Until dispatch, samples are stored under the
supervision the Company's exploration office. The samples are
couriered to the assay laboratory using a commercial contractor.
Pulps are returned to the Company and archived. Trench results are
quoted as horizontal lengths.
The geophysical survey has been conducted by the Company's
in-house team utilizing its GDD GRx8-16c receiver and
5000W-2400-15A transmitter, with data processed by the Company's
independent consultancy Core Geophysics. Geophysical exploration
targets are preliminary in nature and not conclusive evidence of
the likelihood of a mineral deposit.
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
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.
SOURCE Meridian Mining UK Societas
