Meridian Mining Provides Espigão Exploration Update Release of base metals assays give context to larger hydrothermal origin of manganese veins
Meridian Mining Provides Espigão
Exploration Update
Release of base metals assays give context to larger hydrothermal
origin of manganese veins
LONDON, June 12, 2019 /CNW/ - Meridian Mining SE (TSXV: MNO)
("Meridian" or the "Company") today releases all multi-element
Diamond Drill Hole ("DDH") results from the Company's 2014-2015
drilling program on the Espigão project in Rondônia, Brazil ("the
Project") (Fig 1). Prior drilling releases were previously reported solely
on the manganese content of the vein systems. Following the recent
development of an intrusive-related mineralization model, the drilling
database has been re-assessed, and composites re-calculated for the
base metal components: copper ("Cu"), lead ("Pb") zinc ("Zn") and
other pathfinder elements. The review highlights diverse, zoned metal
assemblages coincident with geophysical anomalies, reflecting an
underlying geological control.
To download the entire DDH results please refer to the link provided
on the Company's web site "Espigão" project page:
www.meridianmining.co/operations/espigao/
Northern Structural Trends
The northern manganese oxide vein systems carry a significant base
metal content (Fig 1), with copper and lead assays typically in excess
of 0.1%. At several prospect areas, the results from the DDH* for base
metal contents reach percent levels, with examples including:
DDH_EM_012 (Eduardo Mendes): 19.50m @ 19.9% MnO2,
0.16% Cu & 1.05% Pb, from 47.65m;
o including 2.15m @ 28.4% MnO2, 0.19% Cu & 2.20% Pb,
from 53.4m (Fig2);
DDH_SF_002 (São Felipe): 6.65m @ 53.5% MnO2, 0.24% Cu &
2.91% Pb, from 38.75m (Fig 3); and
DDH_ADE_002 (Califórnia): 4.45m @ 37.7% MnO2, 0.19% Cu &
1.22% Pb, from 17.5m.
*All intersections for the inclined DDH-series holes are estimated to be at least 50 - 65% of the downhole thicknesses.
Peak base metal results for individual drill samples along this trend
reach 0.62% Cu & 6.56% Pb. The north-east quadrant of the project
area generally shows higher levels of Cu-Pb contents in the composite
database. Peak zinc is also observed at Eduardo Mendes
(DDH_EM_016; 0.14% Zn).
Central Structural Trends
Base metals remain moderately elevated throughout the structural
trends in the more central part (Fig 1) of the Project. The Antônio
Gomes area contains massive to brecciated vein and stockwork style
vein zones. Half of the holes drilled in this prospect area have
returned lead in the >0.1% Pb range. Other metals are elevated but
more variable. Vein textures suggest an episodic emplacement,
transitional to epithermal conditions. Zinc locally forms part of the
metal content. Examples of intersections illustrating the metal
associations over broader or more discrete intervals include:
DDH_AG_001: 12.25m @ 16.2% MnO2, 0.04% Cu, 0.23% Pb
from 3.00m
DDH_AG_009: 0.17m @ 61.2% MnO2, 0.44% Cu, 0.10% Pb,
0.11% Zn from 34.8m
The lead and copper association extends to neighbouring prospects
such as Ademir Curral, Ambulancia, and areas within the central
mining lease (e.g. Edinei - Zenilda).
Southern Structural Trends
The manganese veins in the southern margin (Fig 1) of the project
area are by comparison relatively depleted in their base metal content.
Lead in composites is frequently <100 ppm Pb to a maximum of 464
ppm Pb. Copper in composites remain anomalous, with an average
content of 730ppm Cu, to a maximum 0.44% Cu. Zinc has an average
of 151 ppm to a maximum of 694ppm.
In one area (Gracioso target), the hydrothermal alteration is marked
by a wide package of ferruginous breccias (from surface to 114m),
with a finely laminated package appearing at 82.60 - 83.50m. This
suggests at least part of the sequence may be marked by high-level
volcanic to sub-volcanic horizons with altered breccia pipes. The
associated lithogeochemical anomalies are atypical of the basement
elsewhere:
DDH_GR_001: 15.85m @ 0.9% MnO2, 5.2% Fe2O3, 130ppm
uraniam (U), 0.13ppm tellurium (Te), 3.4ppm Silver (Ag) from
4.55m
The base metal content of this interval is at background levels (60ppm
Cu, 40ppm Pb, 156ppm Zn), but a bedrock conductor is present in the
vicinity and requires further constraint to test the metal assemblage
underpinning the breccia complex. A Tungsten (W) anomaly is present
from the collar of the hole, and the position needs to be stepped back
to test the full cross-strike extent of the breccia package.
Potential for Zoned Mineralization
The overall footprint of the mineralization event is broad, and historical
drilling in many areas remains at wide spacings (300-500m), and
relatively shallow (average depth below surface of ~41m). The
development of the intrusive-related model now raises the need to test
for partitioning of gold and base metals at depth and along strike, with
the possibility that different metal assemblages were concentrated in
different areas (related to changes in pressure, temperatures or redox
conditions in the original hydrothermal system).
It is already known that bedrock gold has been concentrated in at
least one target area. At Coice de Cobra, trenching returned 28.00m
@ 0.8g/t Au in saprolite (including 0.50m @ 23.5g/t Au and 0.50m @
9.1g/t Au). The peak results from a six-hole program in 2017 was
4.35m @ 3.2g/t Au from 20.65m (DDH_CC_003)1. The host quartz-
sulphide veins share the same orientation as the manganese vein
system. Further analysis of the Company's core and pulp collection is
warranted to better understand the gold distribution in the manganese
veins themselves (only 55% of holes drilled for manganese were
analysed for gold, with a peak of 331 ppb over 0.35m in hole
DDH_CF_004).
Other related pathfinder elements (Figures 8 through to 11) are
recognized. Rare earth element Lanthanum (La) is seen to be
anomalous to levels of several hundred ppm in the manganese veins,
particularly in the northern vein systems. A peak interval was returned
in the sparsely tested area on the eastern perimeter of the project:
_________________________
1 Meridian news release of Nov. 20, 2017
DDH_MR_008A (Marafom): 7.8m @ 8.4% MnO2, 0.1% Cu,
0.42% Pb, 0.10% La from 8.5m.
Tungsten (W) is generally a minor metal, typically at levels of
<100ppm, and in the 100-400ppm range in the northern veins. The
peak assay returned in the database is
DDH_MOI_002 (Moises) 1.00m @ 11.2% MnO2, 0.1% Cu, 0.1%
Pb, 0.12% W from 20.15m.
Molybdenum (Mo) values are generally low; peak values of 103 ppm
Mo are seen in DDH_ACS_003 and 114 ppm Mo in DDH_ADV_005,
in the northern area:
DDH_ACS_003 (14 de Abril): 0.73m @ 47.2% MnO2, 400ppm
Cu, 3.86% Pb, 103ppm Mo from 6.85m.
Peaks in these metals often appear at the margins of the known
manganese zones. Rare earths such as lanthanum are known to have
a possible spatial association to IOCG style deposits or intrusive
related systems.
Next Steps
The Company is looking to initiate multi-element scanning on soil
samples through portable XRF analysis. Soil XRF analysis is also
being incorporated into the preproduction programs, to test for metal
assemblages in the immediate halo to the manganese veins. Quartz
veins and ferruginous breccia zones seen along strike from the veins
have traditionally not been a past focus for analytical work.
Corridors defined by the recent modelling of the Company's magnetic
data will be subject to reconnaissance field work, to extend the
knowledge of the surface expression of the footprint to the
hydrothermal centres. Follow-up work will be extending also to the tin
greisen2 recognized along strike from the Antonio Gomes prospect.
Mr Clark, Interim CEO & President, states, "The hydrothermal
mineralisation of the Company's Espigão Project displays an
impressive suite of related metals: manganese, copper, lead, zinc
(Figures 4-7), tin and gold. By combining these metals with vectoring
elements (Figures 8-11), the Company can draw analogies to other
polymetallic systems that have manganese veins in proximity. While
remaining focused on managing costs and producing high quality Mn
concentrates, the Company's geologists are reviewing the historical
and modern data sets to assess the full range of generative models,
from IOCG potential given the recognition of wide ferruginous breccia
zones and the diverse pathfinder element suite, to intrusive-related
gold / base metal systems, which are the focus of aggressive
exploration campaigns within the same geological terrains in
neighbouring states to the east."
Qualified Person: The technical information about the Company's
exploration activity has been prepared under the supervision of and
verified by Dr. Adrian McArthur (B.Sc. Hons, PhD. FAusIMM), the
Chief Geologist of Meridian Mining, who is a "qualified person" within
the meaning of National Instrument 43-101.
________________________
2 Meridian news release of Nov. 22, 2018.
Notes:
Analysis have been conducted by an accredited SGS Laboratory in
Belo Horizonte, Brazil. Gold in drill core has been analysed by
methods FAA323 and FAA505 (fire assay of 30g / 50g charge), with
samples containing visible gold analysed by screen fire assay (SGS
method FAASCR). Manganese and multi-element results have been
determined by XRF techniques (XRF79C) for major oxides in
mineralized zones, supplemented by multi-acid digest and ICP-OES
analysis (ICP40B) in areas of trace mineralization or wall-rock
alteration. Multi-element work on the Gracioso breccia was conducted
by a lithogeochemical package at ALS in Lima, Peru (methods ME-
XRF26, ME-MS42, ME-MS81, ME-4ACD81, Au-AA26, C-IR07, S-
IR08). Analytical quality is monitored by certified references and
blanks. Until dispatch, samples are stored in the company's
supervised stockpile yard or exploration office. The samples are
couriered to the assay laboratory using a commercial contractor
(Eucatur). Pulps are returned to the Company and archived.
On behalf of the Board of Directors of Meridian Mining SE
Gilbert Clark
Interim CEO, President and Director
ABOUT MERIDIAN
Meridian Mining SE is focused on the acquisition, exploration,
development and mining activities in Brazil. The Company is currently
focused on exploring and developing the Espigão manganese and
gold projects, the Bom Futuro tin JV area, and adjacent areas in the
state of Rondônia. Meridian is currently producing high grade
manganese at its project located at Espigão do Oeste.
Further information can be found at www.meridianmining.co.
FORWARD-LOOKING STATEMENTS
Some statements in this presentation 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. In particular,
because the Company's production decision relating to Meridian
Mineracao Jaburi S.A, manganese project is not based upon a
feasibility study of mineral reserves, the economic and technical
viability of the Espigão manganese project has not been established.
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.
Diagrams:
Fig. 1: Location map of prospects referred to with metal associations.
(CNW Group/Meridian Mining S.E.)