Meridian reports highest grade gold-in-soil result in the Cabaçal Mine Corridor
Meridian reports highest grade gold-in-soil
result in the Cabaçal Mine Corridor
/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE
U.S./
Soil survey returns peak gold assays of up to 8.4g/t extending C4A-C2A copper-gold trend to
3,500m
LONDON
,
Feb. 3, 2022
/CNW/ - Meridian Mining UK S (TSXV: MNO) (
Frankfurt
: 2MM) & (OTCQB:
MRRDF), ("Meridian" or the "Company") is pleased to announce the strongest gold-in-soil response
yet at its Cabaçal copper-gold VMS project in
Mato Grosso, Brazil
("Cabaçal"). The results reported
today have connected two surface anomalies within the C4A and C2A copper ("Cu")- gold ("Au") and
zinc ("Zn") prospects, into a singular trend that hosts some of the highest Au-in-soils results
measured at Cabaçal to date with
peak assays up to 8.4g/t gold
(Figure 1). The extent of this now
combined Cu-Au-Zn anomaly measures
3,500m
in strike
, exceeding the original geochemical
surface footprint of the adjacent Cabaçal mine. It now includes zones where Meridian has previously
reported peak trench assays for Cu and Zn of 0.4% and 0.6% respectively
1
. The alignment of these
new gold anomalies with an underlying geophysical trend (magnetics) suggests a structural control
and adds further support to the model of a late-stage gold event overprinting the earlier VMS Cu-Au
system along the length of the 11km Cabaçal Mine Corridor.
Highlights of today's announcement:
Meridian reports gold assays up to 8.4 g/t from soil survey, 1.8km Southeast of Cabaçal;
Meridian's defines new copper-gold and zinc trend extending over
3,500m
in strike length;
Peak gold in soil assays of up to 8.4g/t;
Strong gold anomaly up to
250m
wide follows underlying magnetic trend;
Trend includes VMS basement units grading of 0.4% copper and 0.6% zinc;
Strong and extensive surface gold anomaly remains open;
Signature of overprinting gold event extends from Cabaçal mine to Santa Helena mine; and
Prospectivity of Cabaçal's extensive and near surface copper-gold anomalies further
confirmed.
Dr
Adrian McArthur
, CEO and President comments: "These latest gold-in-soil results from
Meridian's ongoing geochemical programs, confirm that our Cabaçal copper-gold project has great
potential for future discoveries. Soil sampling results above 1.0g/t gold are uncommon, and this
result is particularly encouraging, being located along the projection of VMS units grading 0.4%
copper and 0.6% zinc. This all highlights the near surface open-pit prospectivity and exploration
upside we are encountering at Cabaçal, where many anomalies remain open for further
evaluation. Our results have now connected two separate historical copper-gold zones forming one
large open
3,500m
trend, within the Cabaçal Mine Corridor that hosts multiple copper-gold and
zinc prospects. Importantly, these strong gold in soil results emphasise that the later overprinting
gold event at Cabaçal, has had a strong regional impact, with gold anomalies extending along and
over structural extensions of the VMS Cu-Au mineralization. Our local team's main focus is on the
Cabaçal mine, via its ongoing
15,000m
drill program, while our regional programs like C2A are
focussed on validating and expanding on the regional results generated by BP Mineral's ("BP")
historical investment, which defined prospects within open potential in the Cabaçal Belt."
Figure 1: Top: Meridian Mine Corridor gold-in-soil results over analytic signal magnetics, Bottom:
magnified results of gold-in-soil survey with local historical drill collars superimposed. (CNW
Group/Meridian Mining UK Societas)
Cabaçal Geochemical Program
After the first phase of exploration by BP at Cabaçal in the 1980's, the C2A prospect and almost all
other BP prospects received little follow-up attention as they focused on developing the Cabaçal
Mine through to production. This extensive investment of capital and time by BP along the length of
the Cabaçal Cu-Au belt, generated multiple prospects and anomalies, that Meridian is now
systematically testing. The Company's first geochemical programs have been focussed in the central
sector of the 11km Mine Corridor, extending between the Cabaçal Mine to the Northwest and the
Santa Helena mine to the Southeast. This domain includes:
The Southeast extension of the C4A target – the original domain in which the Cabaçal copper-
gold-silver Mine was discovered;
The C2A target - a domain ~3km long, (positioned ~2km to the southeast of Cabaçal and
~3.5km northwest of the Santa Helena zinc-copper-gold-silver mine), untested by drilling; and
The C2B target; A corridor of 2.1 km extent, immediately northwest of Santa Helena. The target
is associated with aerial conductivity anomalies, favourable geochemistry and encouraging
results from historical reconnaissance drilling.
The Company's programs commenced on C2A, one of several targets defined by the first phase of
BP's exploration in the early 1980's. Here, BP's soil surveys for gold were by panning a fixed volume
of soil and counting visible gold specks from panned concentrates. These historical soil survey
techniques have been surpassed by the modern assays protocols used by Meridian.
BP's soil anomalies remained open at the cessation of field activities in 1991. Meridian's
geochemical program has been focussed on validating and is extending out from BP's results.
Historical maps and subsequent GIS compilations of the data show slight dislocations, and the
sampling has been conducted to assist with validation and orientation of the historical data.
Initial results established that extensive untested copper-in-soil anomalies are present
2
. gold results
have been progressively returned
3
. These latest results with a peak gold assay of 8.4 g/t Au, are
from an area where sampling was extended Southeast from the C4A grid into the Northwest margin
of the C2A prospect. The maximum cross-strike footprint of the soil anomaly is
250m
.
Data indicates that the original BP anomaly was targeted by four holes during 1985-1986: JUSPD
51, 54, 149 & 149. The holes 51 and 149 targeted BP's soil anomaly with peak grades of 2.8g/t Au
over
0.95m
in JUSPD149 from
165m
, with anomalous based metals (peak values) of 0.6% Cu &
1.0% Zn
4
. The Company's interpretation of these drill results benefits from the hindsight of the
Cabaçal mine operations and its influence on local geological knowledge. Most importantly the
general Southeast plunge of Cu-Au mineralisation. Essentially, BP drilled immediately below their
anomaly, but subsequent information indicates it is plunging to the Southeast.
Mapping and sampling of local gossanous quartz vein scree is ongoing, following the soil results. The
soil anomaly is very prospective, being flanked by values in the 10's to 100's of ppb Au, with a
maximum cross-strike footprint of
250m
. The presence of gossanous quartz vein screen is
consistent again with the signature of a late stage overprinting event underpinning the surficial
geochemical signature. Further work is ongoing.
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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Follow Meridian on Twitter:
https://twitter.com/MeridianMining
Further information can be found at
www.meridianmining.co
Notes
Samples have been analysed at the accredited SGS laboratory in
Belo Horizonte
. gold analyses
have been conducted by FAA505 (fire assay of a 50g charge), and base metal analysis by portable
XRF calibrated with certified references. ~10% of base metal results area checked verified by
laboratory analysis at SGS using methods ICP40B (four acid digest with ICP-OES finish). Samples
are held in the Company's secure facilities until dispatched and delivered by staff and commercial
couriers to the laboratory. Pulps are retained for umpire testwork, and ultimately returned to the
Company for storage. The Company submits a range of quality control samples, including blanks
and gold and polymetallic standards supplied by ITAK and OREAS, supplementing laboratory
quality control procedures. Figures and intervals are rounded to 1 decimal place.
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.
1
See Meridian news releases dated November 1, December 6, 2021
2
See Meridian news release of November 1, 2021.
3
See Meridian news release of December 6, 2021.
4
JUSPD054 - Sample JUF16525 (84.0 - 85.17m): 0.6% Cu, 0.2g/t Au & 18.7g/t Ag; JUSPD051 – Sample JUR16333 (62.6 - 64.0m): 0.2% Cu, 2.1g/t Au, 85g/t Ag & 1.0% Zn.
SOURCE
Meridian Mining UK Societas
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For further 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 07:30e 03-FEB-22