Meridian Reports First Results from Espigão Gravity Survey Program Significant trend of gravity anomalies coincident with airborne EM defined at Espigão
Meridian Reports First Results from Espigão
Gravity Survey Program
Significant trend of gravity anomalies coincident with airborne EM defined at Espigão
LONDON
,
May 5, 2022
/CNW/ - Meridian Mining UK S (TSX: MNO), (FSE/Tradegate: 2MM) &
(OTCQB: MRRDF), ("Meridian" or the "Company") is pleased to announce the first results of its
ongoing gravity survey
1
over its
Espigão
copper-gold polymetallic project ("Espigão" or the "Project")
in Rondônia,
Brazil
. The gravity survey is continuing at Espigão in parallel with Meridian's main focus,
the drilling of the Cabaçal copper-gold VMS project. Espigão's initial results are revealing a broad
series of significant gravity anomalies, measuring up to 15mgal above background data, with multiple
discrete anomalies 2km in size. Leading external consultants have assessed the combined regional
geophysical data for Espigão with this modern gravity data and are proposing that a non-granite
lithology is hosting these anomalies This is consistent with the Company's exploration model for
Espigão, to have strong potential to host a new Intrusion Related Iron-Oxide-Copper-Gold ("IOCG")
province similar to those found in
Australia
. Meridian's past drilling and geological mapping within the
survey area, has repeatedly identified brecciate hematite units; a common host for IOCG deposits.
The low-cost Survey is continuing and further results are pending.
Highlights of today's announcement:
Meridian's Espigão Cu-Au polymetallic project hosts significant IOCG type gravity anomalies;
Broad regional gravity anomalies defined across Espigão Cu-Au polymetallic project;
Gravity anomalies of up to 15mgal above background have been defined;
Individual anomalies measured up to 2km across;
Gravity anomalies are co-incident with hydrothermal vein and breccia arrays at surface;
and
Espigão's gravity anomalies mirror those of common IOCG ore provinces in
Australia
.
Dr
Adrian McArthur
, CEO and President of Meridian, comments: "The strong gravity responses
being mapped out in the first phase of geophysical surveys is exactly what we hoped to see and
entirely consistent with the new exploration model being applied to the Espigão copper-gold
polymetallic project. The responses provide a significant contrast to the background granite
signature, and are indicative of a dense underpinning rock mass in the substrate, consistent with
the IOCG model. The geophysical program is expanding to provide tenement-wide coverage
before infilling the grid in promising areas to define more specific drill targets. Our active drilling
will remain focussed on the Cabaçal copper-gold VMS project whilst we assess the longer-term
approach to these emerging targets at Espigão."
Espigão Polymetallic Project
As part of its long-term strategic copper-gold focus, Meridian has initiated a gravity survey at its
Espigão
copper-gold polymetallic project. Espigão hosts a surface vein system carrying elevated
copper – typically in the range of >0.2% Cu to a maximum of 0.8% Cu. Ferruginous breccia systems
(hematite -dominated matrix) are present, and indicator elements from stream sediment indicator
mineral analysis show minerals consistent with a dynamic hydrothermal system
2
. The granitic
basement terrain has similarities to the Gawler Craton - Hiltaba Volcano-Plutonic Association
3
. The
objective of the gravity survey is to test for anomalies consistent in range to those seen in IOCG
systems. The gravity survey remains in progress, focussing initially on establishing a regional
framework with broadly spaced stations, along regional road access with approximately 2km spaced
stations before further detailed infill program, to model the geometry of these subsurface anomalies
more accurately.
Processing by the Company's geophysical consultancy Core Geophysics have highlighted a broad
gravity feature developing in the southeast of the Project displaying a regional response, terrain
corrected, up to 15mgal above background. Residual filtering has defined a number of
smaller/discrete anomalies of interest up to 2km in size. The source of the anomalies needs further
investigation, but responses at Espigão fall within ranges of known IOCG deposits (Table 1). The
strongest responses are developed in a structurally favourable setting, lying to the north of an
inflexion point on the margin of the hinge zone between the Parecis Basin and the Proterozoic
crystalline basement. Regional geology places these gravity anomalies close to first-order terrain
terrane boundary faults with the extensive 20km by 15km multi-element soil anomalies representing
a major, potentially crustal-scale thermal event has occurred. Espigão's distribution of mineralisation
assemblages are associated with a common zonation pattern.
Magnetic Anomaly
Amplitude
Magnetic Anomaly
Amplitude
Gravity Anomaly
Amplitude
Gravity Anomaly
Amplitude
Units
nT
km
Mgal
Km
Espigão Project
Pending
Open
15
Open
Deposit
Olympic Dam
1,400
8 km across
17
8 km across
Wirrda Well
1,800
6 * 9 km
6
6 * 9 km
Carapateena
200-300
1.5 * 1.0 km
2 - 2.5
2 * 2 km
Prominent Hill
7,000
0.7 * 0.5 km
5
2.5 * 1 km
Ernest Henry
7,000 – 10,000
1.2 * 0.7 km
2 - 3
1.2 * 0.7 km
Eloise
1,100
0.75 * 0.25 km
1.0
1.0 * 0.5 km
Table 1 International IOCG and associated
Many of the mapped vein occurrences mimic trends in the gravity gradients, suggesting the vein
systems are exploiting structures linked to these anomalous responses. Some Gravity anomalies
align with magnetic anomalies defined within Meridian's 2015
100m
line spacing airborne HeliTEM
survey.
Figure 1. Terrain corrected Bouguer Gravity Residual Images, overlain by gradients defined in
upward continuation modelling (“Worms”) of magnetic data. Top: Bouguer Gravity, first vertical
derivative. Bottom: Bouguer Gravity, (CNW Group/Meridian Mining UK Societas)
The gravity survey will continue through 2022 to complete regional survey coverage before a phase
of prospect-scale assessment. Geophysical exploration targets are preliminary in nature and not
conclusive evidence of the likelihood of a mineral deposit.
____________________
1
Meridian News Release of March 7, 2022
2
Meridian News Release of May 18, 2020
3
Technical Presentation: https://meridianmining.co/wp-content/uploads/MNO-Polymetallic_Final.pdf
Notes
The gravity program is being executed by Meridian's trained in-house team using a new gravity
meter (CG-6 Autograv™) purchased from Scintrex. Results are sent daily for processing and
quality control to the Company's consultancy, Core Geophysics.
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
Executive Chairman
Meridian Mining UK S
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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 address future events
and conditions and so involve inherent risks and uncertainties, 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 by 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-looking
statement, whether as a result of new information, future events or results or otherwise.
SOURCE
Meridian Mining UK Societas
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For further information:
IR contact information: Mr Gilbert Clark, Executive Chairman, Meridian
Mining UK S, Email: [email protected], Ph: +1 (778) 715-6410 (PST)
CO: Meridian Mining UK Societas
CNW 06:15e 05-MAY-22