Meridian Mining's Bom Futuro JV Geophysical Program Identifies New Primary Bedrock and Palaeochannel Exploration Targets
Meridian Mining's Bom Futuro JV Geophysical Program Identifies New Primary
Bedrock and Palaeochannel Exploration Targets
AMSTERDAM, The Netherlands, May 30, 2017 /CNW/ - Me ridian Mining S.E. (TSX V: MNO) ("Meridian"
or the "Company"), today provided an update on exploration results from its Bom Futuro tin joint venture
in the state of Rondônia, in northwestern Brazil.
HIGHLIGHTS
• Ground orientation surveys identify target for con cealed intrusive body underpinning the mineralized
veins and pegmatites of the Bom Futuro Hill.
• Near-mine ground penetrating radar surveys confirm signature of undeveloped palaeochannels.
• First phase regional surveys identified new palaeo channel targets over the broader licence area.
"The Bom Futuro Joint Venture presents an outstanding opportunity to apply cutting edge geophysical
exploration techniques to a very significant mineral centre," said Anthony Julien, President and CEO of
Meridian. "The historical production of 192,000t of tin ranks Bom Futuro as Brazil's second largest tin
mine, and the area is yet to receive the full benefits of modern exploration. The results of these initial
surveys show great promise for generating new targets to realize the full potential of the broader project
area."
MERIDIAN GEOPHYSICAL PROGRAM
Meridian concluded a first phase of ground geophysics in March, trialing various methods to assist in the
definition of primary bedrock and palaeochannel targets.
The Brazilian geophysical consultancy AFC Geofisica conducted ground-based gravity, magnetic, and
chargeability / resistivity surveys. These surveys covered the northern half of the Bom Futuro Hill an d
extended northwards, covering an area of ~2km 2 (Figure 1). The data has undergone processing by AFC
and Company's independent geophysical consultancy C ore Geophysics. Core Geophysics also
supervised an 80 line kilometre trial Ground Penetrating Radar (GPR) survey, using cutting-edge
UltraGPR technology developed by Groundradar Inc. T he GPR surveys were particularly designed to test
palaeochannel targets.
Significant outcomes of the drilling and mapping program include:
• A target for a concealed intrusion underpinning th e Bom Futuro vein and pegmatite ring structures
has been identified in the AFC survey block. Gradient Array IP surveys identified areas of enhanced
chargeability which exhibited a similar trend to the ring structure pattern. These may be related to
accessory base metal sulphides that have been recor ded separately to the cassiterite mineralization.
More particularly, inversions of the magnetic data identified a deeper seated anomaly underlying the
north-east quadrant of the Bom Futuro ring structure system (Figure 2). These ring structures sit in
gneissic host rocks in a "roof pendant" setting, above an untested source intrusion at depth. The
inversion model presents the first imaging of targets at depth beneath the hill. Additional surveys will
be undertaken to complete full coverage of the hill to test for satellite bodies and rank deep-seated
drill targets.
• Ground penetrating radar orientation surveys have proved very effective at delineating the
palaeochannel signature in controlled settings close to the Bom Futuro mining operations. The
palaeochannels are known to be several hundred mete rs wide and are filled by unconsolidated
sands, gravels and clays. The tin mineral cassiterite can be dispersed through the channel
sequence, but is particularly concentrated in the rich channel gravels at the base of the sequence.
Orientation surveys targeted the projection of a palaeochannel position, eastwards from a location
where mining operations terminated adjacent to an a ccess road (Figure 1, Figure 3). Resistivity
surveys were first undertaken by AFC, indicating that the uppermost soil / colluvium is generally
resistive, the palaeochannel positions themselves are more conductive, and the bedrock sequence
is resistive. GPR lines provided a good resolution of the channel structure (Figure 4), showing
stratification in the channel sequence, and identif ying basal irregularities.
• GPR trials have been extended more regionally thro ugh the "Non-Explored Area", with ~80 line
kilometers completed in broadly spaced north-south and east-west survey pattern. These surveys
have identified analogous channel patterns, presenting a range of initial targets for placer
mineralization (Figure 5). The Company will be conducting additional surveys to confirm the
concealed palaeo-drainage pattern. Options include aerial surveys targeting the full licence area,
mapping the conductivity response of the channel pa ttern (in addition to resolving potential bedrock
targets), and infill ground based surveys for high resolution definition of the channel structure.
NEXT STEPS
• The Company will extend its geophysical program on the strength of these targeting results. Options
for potential aerial surveys in the broader licence are being considered, with the Company in
discussions with service providers. Scheduling would be related to permitting and availability of
survey platforms.
• Ground penetrating radar surveys will progressivel y be extended. The company has conducted in-
house training to conduct further surveys. In the immediate term (over Q2 to Q3), surveys will focus
on better definition of palaeochannel exploration targets, and continued definition of tailings basins.
• Additional ground-based surveys will be extended o ver the broader environment of the Bom Futuro
Hill. Some further processing of the gravity data will be undertaken to review adjustments for mining
voids following more detailed topographic surveys. Ground IP and ground magnetic coverage will be
extended over Q3-Q4 2017. Meridian has purchased a new generation GDD GRx8-16c receiver and
5000W-2400-15A transmitter to conduct in-house indu ced polarization surveys.
• Ranking and prioritization of drill targets from t he geophysics program will be progressively
undertaken as geophysical survey data is gathered. The Company has purchased additional drill
rods to test palaeochannel targets in the 40-50m depth range with its self-managed drill rig.
Geophysical exploration targets are preliminary in nature and not conclusive evidence of the likelihoo d of
a mineral deposit. The Company will commence reconn aissance exploration drilling in the second half of
the year to test for the presence of commercial quantities of mineralization.
QUALIFIED PERSON
The technical information about the Company's exploration activity has been 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.
On behalf of the Board of Directors of
Meridian Mining S.E.
"Anthony Julien"
Anthony Julien
President, CEO and Director
ABOUT MERIDIAN
Meridian Mining S.E. is focused on the acquisition, exploration, development and mining activities in
Brazil. The Company is currently focused on exploring and developing the BMC manganese project, the
Bom Futuro tin JV area, and adjacent areas in the state of Rondônia. The Company employs a two-
pronged strategy with the objective of growing pilot production while advancing a parallel multi-commo dity
regional exploration program. Meridian is currently producing high grade manganese at its project loca ted
at Espigão de Oeste.
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 include, among others, statements with
respect to the Company's plans for exploration and development 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 inc lude, 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 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 and development of mineral projects wil l
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 legislat ion.
The TSX Venture Exchange has in no way passed upon the merits of the Arrangement and 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.
NOTES
Meridian ratified a joint venture agreement with Coopersanta in March following a three-month due
diligence period. The Company is evaluating tailings reprocessing scenarios in allocated areas, and is
exploring for primary / palaeochannel targets in a 2,000ha "Central Area", and a 18,000ha "Unexplored
Area". Details of the agreement are summarized in press releases of December 19 2016 and March 16
2017.
AFC Geofisica is an accredited geophysical service provider (ISO 9001:2008).Surveys were conducted
using GSM-19 ground magnetometers (GEM Systems), CG 5 gravity meters (Scintrex), GDD 5000W
transmitter with ELREC Pro Receiver for the primary Induced Polarization surveys, and a SuperStinger
R8 (AGI Instruments) for the palaeochannel orientation. IP surveys over the primary area were conducte d
on 100m line spacings, with dipoles spacing of 50 m and readings advanced at 25 m. Ground
magnetometry in the survey area was conducted on a 25m grid. Gravity surveys were conducted on
100m spaced lines with 20m station intervals, with differential GPS control on station survey points.
Ground Penetrating Radar survey were conducted usin g Groundradar's proprietary UltraGPR technology
(30Mhz system).
SOURCE Meridian Mining S.E.
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For further information: Nick Hurst, 416-586-1942, [email protected]
CO: Meridian Mining S.E.
CNW 07:00e 30-MAY-17