Also: New shallow 500m high‐grade target outlined outside the Cabaçal resource
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Meridian Assays Significant High‐Grade Gold Zone of 26.5m @ 4.2g/t Au from
14.0m
Also: New shallow 500m high‐grade target outlined outside the Cabaçal resource
LONDON, United Kingdom, November 21, 2022 / Accesswire / Meridian Mining UK. S (TSX: MNO),
(Frankfurt/Tradegate: 2MM) (9OTCQB: MRRDF) (“Meridian” or the “Company”) is pleased to report
further assays from drilling at the Cabaçal gold‐copper VMS deposit (“Table 1”). CD‐205 has returned
54.9m @ 2.1g/t Au, 0.1% Cu & 0.5g/t Ag from 12.3m depth including 26.5m @ 4.2g/t Au, 0.1% Cu &
0.2g/t Ag from 14.0m depth within Cabaçal’s Northwest Extension’s (“CNWE ”) high‐grade zone (“Figure
1”). CD‐205’s broad gold zone hosts multiple veins with visible gold grading up to 73.6g/t Au. This result
confirms that the shallowest horizons of the Cabaçal resource area host strong potential for further gold‐
copper mineralization (“Figure 2”) and were not adequately assayed or tested via historical drilling.
Additionally, Meridian is pleased to confirm a new shallow high ‐grade mineral trend (“Figure 3”)
completely outside the Cabaçal resource limits 1 with the final assays from CD‐193, now including a new
zone grading 9.3g/t Au & 3.0% Cu over 0.35m from 55.6m. Further assays from ongoing drilling at the
Cabaçal project are pending.
HIGHLIGHTS REPORTED TODAY2
CD‐205 assays significant shallow gold zone within the Cabaçal Northwest Extension;
Ongoing assay results confirm further near‐surface upside in areas not predicted by historical
wide‐spaced vertical drilling;
Meridian defines over 1,000m of internal higher‐grade trends to drill;
Final assays for CD‐193 confirm a strong new shallow Cu‐Au corridor for follow‐up drilling; and
CD‐193 is open, has over 500m of strike potential, and is down plunge from a strong and extensive
surface Au in soil anomaly.
Dr. Adrian McArthur, CEO and President comments: “CD‐205 demonstrates a clear example of how
shallow high‐grade mineralization is better delineated via the ongoing infill program using angled holes,
and also just how much of Cabaçal’s shallowest zones remain essentially untested. This represents a
significant opportunity for Meridian to expand and upgrade the Cabaçal resource, as well as having over
1,000m of additional higher grade internal and external zones to infill and extend from.”
CABAÇAL’S INFILL AND EXTENSIONAL DRILL PROGRAM
Drilling at Cabaçal continues to focus on extending and infilli ng the multiple higher‐grade zones of the
deposit where the Company sees opportunities to repeat today’s results. Current recommendations are
for further resource definition to include a 25mx25m infill drill pattern for the CNWE’s starter zone study
area, infill, and extensional drilling on peripheral areas of t he deposit, (both up‐dip, down‐dip, and along
strike) where the resource is currently classified as inferred. Higher‐grade unclassified trends, like CD‐
193’s, require further drilling to bring it into the future resource upgrade calculation.
1 Meridian news release September 26, 2022. https://meridianmining.co/wp-
content/uploads/2022/09/MNO220926.pdf
2 See this news release’s Table 1 for individual sample numbers and intervals.
Figure 1: Resource enhancement program, highlighting target corridors for resource conversion with
recent post‐resource intersections illustrated.
The results from CD‐205, 54.9m @ 2.1g/t Au, 0.1% Cu & 0.5g/t Ag from 12.3m depth including 26.5m @
4.2g/t Au, 0.1% Cu & 0.2g/t Ag forms part of a 25mx25m infill pattern to better define the high‐grade core
of the deposit and improve modelling of grade continuity. The r esult is 25m up‐dip from CD110, which
intersected 31.3 m @ 1.0g/t Au, 0.1% Cu & 0.2g/t Ag from 20.2m with a high‐grade zone of 10.4m @
2.3g/t Au & 0.1g/t Ag from 32.5m3. The hole crosses part of the resource model where higher grades were
predicted but was dampened by the influence of a historical ver tical hole (JUSPD232) which returned a
peak grade of only 1.6g/t Au in the corresponding position from 14.0m. JUSPD232 was drilled in
September 1986, before it was recognized during mine development that both shallow‐dipping and
steeper‐dipping structures were present and associated with the late gold overprint. The Company
believes that the angled drilling program is providing better co u p l i n g w i t h t h e s e l a t e r s t r u c t u r e s . T h e
emerging mineralization distribution of the higher grade shallow gold zone of the CNWE, through the infill
program is now showing strong similarities to cross sections through the historical mine, 700m to the
southeast.
3 Meridian news release of May 11, 2022. https://meridianmining.co/wp-content/uploads/2022/05/2022-
05-11-NR-MNO-REV.pdf
Figure 2: Cross section A ‐ A’ through the CNWE’s shallow high‐grade zone (view to the northwest; refer to
Figure 1 for location).
The CD‐193 result, previously reported as a partial result, has been further bolstered with the return of a
screen‐fire assay sample, returning 9.3g/t Au, 3.0% Cu & 7.2g/t Ag over 0.35m from 55.6m. The composite
is now adjusted to 15.6m @ 1.6 g/t AuEq (0.8% Cu, 0.4 g/t Au & 1.3 g/t Ag from 42.0m; including 7.5m @
3.0g/t AuEq (0.8g/t Au, 1.5% Cu & 2.1g/t Ag) from 48.9m. This intersection is located outside of the limit
of the inferred resources, in the shallow up‐dip portion of the deposit. Sites are being prepared to extend
the drilling along strike, where significant gaps exist (with o nly two historical holes drilled over a 500m
window with a narrow diameter “AQ” sized core (considered subop timal for the Au event)). A strong Cu
and Au in‐soil anomaly is developed along the surface contact between the host VMS units and the basal
footwall volcanic unit, which will be further tested for potential up‐plunge extensions to this higher‐grade
result. Periodic areas of further shallow resource potential exist in other areas along strike where the drill
spacing has been too wide to classify resources.
Figure 3: 500m window with hole traces coloured by gold‐equivalent, showing the open contact along
strike from CD193 (view to the northwest).
ABOUT CABAÇAL
In November 2020, Meridian signed a Purchase Agreement to acqui re 100% ownership of certain
tenements covering the historical Cabaçal and Santa Helena mines and the along‐strike tenements, from
two, private Brazilian companies (“Vendors”). Subsequently, Meridian expanded its land tenure to today’s
50km of strike length. Cabaçal had two historical, shallow, high‐grade selectively mined underground
mines that cumulatively produced ~34 million pounds of copper, ~170,108 ounces of gold, ~1,033,532
ounces of silver and ~103 million pounds of zinc via conventional flotation and gravity metallurgical
processes.
Meridian has defined an open trend of shallow copper‐gold mineralization centred on the Cabaçal Mine.
This mineralization trends North west‐Southeast, sub‐crops along its Northeast limits, dips to the
southwest at 26° and is up 90m thick; presenting excellent open ‐pit geometry and mineral endowment.
Meridian is currently focused on infilling drilling along a 2,000m corridor along this trend.
Cabaçal’s base and precious metal‐rich mineralization is hosted by volcanogenic type, massive, semi‐
massive, stringer, and disseminated sulphides within units of d eformed metavolcanic‐sedimentary rocks
( “ V M S ” ) . A l a t e r ‐ s t a g e s u b ‐ v e r t i c a l g o l d o v e r p r i n t e v e n t h a s e mplaced high‐grade gold mineralization
truncating the dipping VMS layers. It was explored and developed by BP Minerals/Rio‐Tinto from 1983 to
1991 and then by the Vendors in the mid‐2000’s. This historical exploration database includes over 83,000
metres of drilling, extensive regional mapping, soil surveys, metallurgy from production reports, and both
surface and airborne geophysics. The majority of Cabaçal’s prospects remain to be tested.
Cabaçal has excellent infrastructure with access by all‐weather roads, industrial electricity provided by
the adjacent hydroelectric power station supplying this clean energy grid, and local communities provide
a large population to draw emplo yees from. Cabaçal consists of 1 mining license, 1 mining lease
application, and 7 exploration claims which total 44,265 hectar es. The September 2022 Cabaçal mineral
resource estimate consists of Indicated resources of 52.9Mt @ 0.6g/t Au, 0.3% Cu and 1.4g/t Ag and
Inferred resources of 9.0Mt @ 0.7g/t Au, 0.2% Cu & 1.1g/t Ag (0 .3 g/t AuEq cut‐off grade), with strong
optionality for targeting higher grade mineralization using a 0 .5 AuEq cut‐off for the future development
studies.
ABOUT MERIDIAN
Meridian Mining UK S is focused on the acquisition, exploration, and development activities in Brazil. The
C o m p a n y i s c u r r e n t l y f o c u s e d o n r e s o u r c e d e v e l o p m e n t o f t h e C a ba ç a l V M S c o p p e r ‐ g o l d p r o j e c t ,
exploration in the Jaurú & Araputanga Greenstone belts located in the state of Mato Grosso; exploring
the Espigão polymetallic project and the Mirante da Serra manga nese project in the State of Rondônia
Brazil.
On behalf of the Board of Directors of Meridian Mining UK S
Dr. Adrian McArthur
CEO, President, and Director
Meridian Mining UK S
Email: [email protected]
Ph: +1 (778) 715‐6410 (PST)
Technical Note
Drill holes have been drilled HQ through the saprolite and upper b e d r o c k a n d t h e n r e d u c e d t o N Q –
mineralized intervals represent half HQ or NQ drill core. Samples from hole CD‐205 have been analysed at
the accredited ALS laboratory in Lima, Peru. Samples are dried, crushed with 70% passing <2mm, split off
to give a mass of approximately 250g, and pulverized to >85% pa ssing 200#. Routine gold analyses have
been conducted by Au‐AA23 (fire assay of a 30g charge with AAS finish). High‐grade samples (>10g/t Au)
are repeated with a gravimetric finish (Au‐GRA21). Samples with visible gold identified during logging are
analysed by screen fire assay method Au‐SCR21. Samples from the other CD‐series holes have been
analysed at the accredited SGS laboratory in Belo Horizonte. Sa mples are dried at 105 o Celsius, crushed
with 75% passing <3 mm, split to give a mass of 250‐300g, pulverized with 95% passing 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). Vis ible gold intervals are sampled by metallic
screen fire assay method MET150‐FAASCR. Samples are held in the Company’s secure facilities until
dispatched and delivered by staff and commercial couriers to the laboratory. Pulps are retained for umpire
testwork, and ultimately returned to the Company for storage. T he Company submits a range of quality
control samples, including blanks and gold and polymetallic standards supplied by ITAK and OREAS,
supplementing laboratory quality control procedures. True widths are approximately 80‐90% of downhole
lengths and assay figures and intervals rounded to 1 decimal pl ace. Gold equivalents are calculated as:
AuEq(g/t) = (Au(g/t) * %Recovery) + (1.492*(Cu% * %Recovery)) + (0.013*(Ag(g/t) * %Recovery)), where:
Au_recovery_ppm = 5.4368ln(Au_Grade_ppm)+88.856
Cu_recovery_pct = 2.0006ln(Cu_Grade_pct)+94.686
Ag_recovery_ppm = 13.342ln(Ag_Grade_ppm)+71.037
Recoveries based on 2022 metallurgical testwork on core submitted to SGS Lakefield
Qualified Person
Dr. Adrian McArthur, B.Sc. Hons, Ph.D. FAusIMM., CEO and Presid ent 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.
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Further information can be found at: www.meridianmining.co
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 address future events and conditions and
so involve inherent risks and un certainties, as disclosed under the heading "Risk Factors" in under the
heading "Risk Factors" in Meridian's most recent Annual Information Form filed on www.sedar.com.
While these factors and assumptions are considered reasonable b y Meridian, in light of management’s
experience and perception of current conditions and expected developments, Meridian can give no
assurance that such expectations will prove to be correct. Any forward‐looking statement speaks only as
of the date on which it is made and, except as may be required by applicable securities laws, Meridian
disclaims any intent or obligation to update any forward‐lookin g statement, whether as a result of new
information, future events, or results or otherwise.
Table 1
Hole ID Dip Azi EOH Prospect Int m AuEq g/t CuEq % Cu % Au g/t Ag g/t Zn % From
CD205 ‐49 60 114.7 CNWE
54.9 2.3 1.5 0.1 2.1 0.5 0.0 12.3
Including 26.5 4.2 2.8 0.1 4.2 0.2 0.0 14.0
CD204 ‐50 60 133.1 CNWE
Pending
CD203 ‐50 60 124.3 CNWE
Pending
CD202 ‐50 60 86.2 CNWE
21.2 0.2 0.2 0.2 0.0 0.1 0.0 6.8
25.9 0.6 0.4 0.2 0.3 1.1 0.0 34.9
CD201 ‐50 60 78.5 CNWE
9.4 0.4 0.2 0.2 0.1 0.9 0. 0 17.0
23.8 0.3 0.2 0.2 0.1 0.5 0. 0 38.0
CD200 ‐50 60 51.3 CNWE
14.3 0.4 0.3 0.2 0.2 0.7 0.0 18.0
CD199 ‐66 45 31.3 CNWE
16.0 0.3 0.2 0.2 0.1 0.6 0.0 0.0
CD198 ‐45 45 200.7 CA4_Sth
3.0 0.5 0.3 0.0 0.5 0.3 0.0 29.0
0.5 1.6 1.1 0.3 0.6 42.9 0.0 56.4
CD197 ‐50 60 109.0 CNWE
27.6 0.2 0.2 0.1 0.1 0.3 0.0 40.7
Including 2.6 1. 0 0.7 0.5 0.4 1.4 0.0 65.8
CD196 ‐45 45 151.0 CA4_Sth
1.3 0.7 0.5 0.0 0.8 0.6 0.0 26.8
2.1 0.1 0.1 0.0 0.1 0.9 0.0 45.9
CD195 ‐50 60 115.2 CNWE
47.2 0.6 0.4 0.3 0.2 0.5 0.0 50.0
Including 2.6 3.5 2.4 0.7 2.6 0.7 0.0 84.7
CD194 ‐49 60 86.2 CNWE
8.8 5.0 3.3 0.2 4.8 0.8 0.0 46.7
Including 1.7 19.5 13.1 0.6 18.8 2.6 0.0 52.9
17.7 0.4 0.3 0.2 0.2 1.1 0.0 70.2
2.3 0.6 0.4 0.4 0.1 5.0 1.9 96.6
CD193 ‐50 60 76.0 CNWE
11.0 0.2 0.1 0.1 0.1 0.2 0.0 28.0
15.6 1.6 1.1 0.8 0.4 1.3 0.1 42.0
Including 7.5 3.0 2.0 1.5 0.8 2.1 0.0 48.9
CD189 ‐50 57 96.5 CNWE
4.7 0.2 0.1 0.0 0.1 0.1 0.0 36.3
11.1 0.2 0.1 0.1 0.0 0.1 0.0 47.0
9.6 0.2 0.2 0.1 0.1 0.3 0.0 65.0