Meridian hits visible gold within strong copper zone during metallurgical drill program
Meridian hits visible gold within strong copper
zone during metallurgical drill program
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U.S/
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;
1
st
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.
Figure 1: Location of CD-88 in the metallurgical program, and nominal sites for other planned holes.
Final selection of holes in the CNWE will be reviewed following receipt of further assays. (CNW
Group/Meridian Mining UK Societas)
Photo 1: Top: CD-88 Core Photos: Top: Visible gold in at depth interval 61.2m, associate with silica
flooding overprint on VMS Cu-Au-Ag system; Bottom: Visible gold, circled on margin of quartz-
sulphide stringer assemblage at depth interval 65.7m. (CNW Group/Meridian Mining UK Societas)
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:
Ph: +1 (778) 715-6410 (PST)
Stay up to date by subscribing for news alerts here:
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Follow Meridian on Twitter:
https://twitter.com/MeridianMining
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
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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 UK Societas
CNW 07:30e 13-DEC-21