Meridian drills strongest sulphide mineralization to date at its Cabaçal Cu-Au Project
Meridian drills strongest sulphide
mineralization to date at its Cabaçal Cu-Au
Project
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U.S./
XRF readings from CD-003 reach 13.0% Copper, 34 g/t gold and 29 g/t Silver
LONDON
,
April 6, 2021
/CNW/ - Meridian Mining UK S (TSXV: MNO) ("Meridian" or the "Company")
is pleased to announce continued encouraging visual core results at its camp-scale Cabaçal Copper-
Gold VMS project in
Mato Grosso Brazil
(the "Project"), which was formerly operated by BP
Minerals (Rio Tinto). The third and fourth diamond drill holes ("DDH") CD-003 and CD-004 (Figure
1), of an approximately 70 drill hole program, have intercepted strong sulphide mineralisation within
the Southern Copper Zone ("SCZ"), with CD-003 concluding at a depth of
205.53m
, and CD-004
concluding at a depth of
200.05m
. The intersections are
85m
apart. Assays are pending with initial
results expected in late April. A third drill rig has been requested to expedite the Company's ongoing
fully funded maiden drill program at Cabaçal.
Highlights of CD-003 & CD-004 to date:
Strong sulphide mineralisation intersected by CD-003 and CD-004 within the SCZ at Cabaçal;
Portable XRF point source readings on the sulphide assemblage show a copper-dominant zone
with precious metals and base metal assemblages (Photo 1) including:
Copper ("Cu") to 13.21 %, Gold ("Au") to 34 g/t, Silver ("Ag") to 29 g/t; and Zinc ("Zn") to
1.08 %.
Hole CD-003 intersected a breccia to stringer sulphide zone over
11.4m
from 156.9 -
168.3m
(Photo 2), as part of a broader package of disseminated sulphide mineralization from
54.8m
;
and
Hole CD-004 intersected a breccia to stringer sulphide zone over
13.1m
from 151.3 -
164.4m
(Photo 2), as part of a broader package of disseminated sulphide mineralization from
46m
.
Photo 1: Left: Detail of sulphide breccia zone in CD-003. Centre: Massive sulphide vein at 119.5m in
CD-004. Right: Portable XRF* analysis showing Cu-dominant assemblage with Au & Ag values and
traces of Lead (“Pb”) and Zn, CD-003 breccia zone. (See below for limitations on point source
readings) (CNW Group/Meridian Mining S.E.)
*
Portable XRF data is taken with a Reflex Vanta M-series instrument manufactured by Olympus. Point source readings aren't representative of the grade of the overall interval,
which requires confirmation by chemical analysis from an independent laboratory. Results are expected from SGS in late April. The reading was taken on a DDH core on an
instrument calibrated with tests on gold-base metal standards provided by ITAK. Laboratory-verified assay results for the mineralized intervals will be reported in a follow up
news release.
Photo 2 top: CD-003: Southern Copper Zone, Trays 47-48; 157.27 - 164.40m. Zone of stringer
sulphides and quartz veining approaching sulphide breccia zone. Photo 2 bottom: CD-004: Southern
Copper Zone, Trays 45-56; 153.96 - 161.68m. Zone of sulphide breccia and quartz veining. (CNW
Group/Meridian Mining S.E.)
"These initial results are exceeding our expectations and validating our model for the Cabaçal project
to potentially fill the void of promising new copper projects globally," commented Dr
Adrian
McArthur
, CEO and President. "Drilling is proceeding rapidly with a third rig currently on its way to
site. Additional borehole geophysics, a highly effective targeting tool in VMS deposits, will be
undertaken to trace mineralization and consider extensional projections to the south east. The
ongoing program will continue to test both the broad envelope of mineralization and more discrete
high-grade trends in working towards an initial 43-101 technical report and development studies.
While this initial program is targeting the historical Cabaçal mine area, management believes there is
untested potential for copper-gold discoveries over a 30km strike. We look forward to publishing and
interpreting further results throughout the Spring and Summer."
CD-003 was collared to target the SCZ, located below and targeting a position projecting ~
100m
south of the limit of historical workings (based on digitized records of historical selective room and
pillar mine development). The hole has intersected a breccia to stringer sulphide zone over
11.4m
from 156.9 -
168.3m
, as part of a broader package of disseminated sulphide mineralization
extending from
54.8m
. CD-003 was targeted between historical hole JUSPD 596, which intersected
15m
@ 5.2g/t Cu, 2.66g/t Au, 9.54 g/t Ag, and adjacent holes to the south which intersected broad
packages of mineralization in JUSPD031, AMCD005
1
. CD-003 (Dip -75; Az 045) was drilled HQ
through the saprolite and upper bedrock and reduced to NQ. The hole intersected the "CTB" mine
sequence unit - a foliated meta-volcaniclastic horizon, with disseminated sulphides starting from
52.4m
, and continued to the acid volcanic footwall ("TAC") at
174.6m
. Stringer mineralization
intensified from
156.9m
, passing into a sulphide breccia from
160.8m
to
165.7m
. with continued
stringer mineralization to
168.3m
.
CD-004 was collared also to target the SCZ, located below and targeting a position projecting ~
20m
south of the limit of historical workings (based on digitized records of historical selective room
and pillar mine development). The hole was collared from the historical drill pad of JUSPD 596, and
drilled as part of a fan with the hole directed to the NNE (Dip -64; Az 331). The hole targeted an
area to the NW of JUSPD 596, where historical drill hole JUSPD482 intersected
13.4m
@ 5.50%
Cu, 1.31g/t Au, 24.72g/t Ag. The hole was drilled HQ through the saprolite and upper bedrock and
reduced to NQ. The hole intersected the "CTB" mine sequence unit - a foliated meta-volcaniclastic
horizon, with disseminated sulphides starting from
46m
, and continued to the acid volcanic footwall
("TAC") from
169m
. The hole intersected disseminated sulphides starting from
46m
, with local
chalcopyrite veining (119.4 -
119.55m
) Stringer mineralization intensified from
151.3m
, passing into a
sulphide breccia from 155.6 -
164.4m
.
These holes confirm the full mine sequence stratigraphy in the Southern Copper Zone, with the
sulphide rich basal layer intact. The mineralization style seen in the sulphide-rich basal layer
corresponds to the characteristics of the target corridor identified in the 1990 Mason and Kerr study,
which interpreted the position as part of a major NW-SE trending alteration pipe of copper-gold-
silver mineralization.
_____________________
1
Meridian News Release of August 26, 2020; September 3, 2020.
Figure 1: Location of drill collars completed to date in the program, with CD-001, CD-002, and CD-
004 testing the Southern Copper Zone. (CNW Group/Meridian Mining S.E.)
There is some spatial variance in the exact position of the historical intersections, with the precise
position of the collar no longer visible on the historical drill pad (and limited historical down-hole
survey information. BHEM trials are progressing as a vectoring tool to test for more concentrated
string to brecciated sulphide concentrations.
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:
Ph: +1 (778) 715-6410 (PST)
Stay up to date by subscribing for news alerts here:
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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 developing the Cabaçal VMS Copper-Gold project 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.
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For further information:
Dr. Adrian McArthur, CEO, President and Director, Meridian Mining UK S,
Email: [email protected], Ph: +1 (778) 715-6410 (PST)
CO: Meridian Mining S.E.
CNW 08:30e 06-APR-21