Meridian reports on 1st phase of Cabaçal's geophysics program
Meridian reports on 1st phase of Cabaçal's
geophysics program
/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE
U.S./
Confirmation of continuous high-grade copper mineralization and expansion of Camp scale
potential
LONDON
,
May 11, 2021
/CNW/ - Meridian Mining UK S (TSXV: MNO) (
Frankfurt
: 2MM) ("Meridian"
or the "Company") is pleased to announce additional results from its surface and borehole
Electromagnetic ("EM") surveys at its Cabaçal Copper-Gold VMS project in
Mato Grosso Brazil
("Cabaçal"). To date, strong Copper ("Cu") dominant sulphides assemblages hosting Gold ("Au")
and Silver ("Ag") mineralisation have been intercepted by the ongoing
10,000 m
Cabaçal drill
program adjacent (Photo 1), and within to the historical mine's underground workings (Photo 2).
Bore Hole EM surveys ("BHEM") have now mapped multiple EM plates, confirming that extensive
conductive layers of Cu sulphide (+Au-Ag) remain within and extend out from the old workings
(Figure 1). Additionally, the 2007 EM survey ("VTEM") at Cabaçal has been reinterpreted using its
now recently defined "Cabaçal" type EM response with promising results. This has mapped north
and south EM extensions out from the mine area (Figure 2), a
700m
anomaly adjacent to the
St
Helena
mine and a major new 4 km long EM anomaly 1.7km south-east of the
St Helena
mine and
along strike from an open south-east trending polymetallic soil anomaly (Figure 3). These results
validate Meridian's belief that Cabaçal could host multiple deposits typical of a camp-scale VMS
project.
Highlights of Cabaçal BHEM surveys:
Cabaçal BHEM surveys and drill results map unmined Cu (+Au) sulphide layers across the
Cabaçal mine;
BHEM survey widens the response of the high-grade Southern Copper Zone by
100m
;
BHEM response remains open to the south-east pending additional drilling and surveys; and
Multiple EM plates align with recent Cu sulphides intercepts adjacent to, above and below the
old workings.
Highlights of Cabaçal's Regional VTEM re-interpretation
"Cabaçal" type EM response defines multiple new near mine and regional targets;
Cabaçal mine's northerly EM trend now linked to the high priority Cabaçal West target;
Cabaçal's Eastern Copper Zone VTEM response extended a further 1.0km south east;
Major new ~4.0km long EM conductive trend mapped south of
St Helena
mine; and
New conductive trend is south east of
St Helena's
open Cu-Au soil survey.
Dr
Adrian McArthur
, CEO and President comments: "The growing dataset of bore hole conductivity
measurements coupled with our ongoing drilling has validated the anecdotal reports that significant
copper and lower grade gold mineralization was not mined due to the high "gold" only cut-off grade
of 3g/t historically used. Our drilling of concentrated stringer and breccia mineralization flanking
historical mining voids shows the significant resource upside over both the footprint of the existing
workings and the unmined extensions. The re-interpretation of the regional VTEM survey greatly
supports the near mine and camp scale potential of the Cabaçal project. The EM trend heading out
from the mine towards the down plunge bedrock late channel conductor of Cabaçal West is an
exciting development for the project. Regional results including defining a new 4.0 km long Cabaçal
type EM discovery south of the
St Helena
mine highlight the potential for future discoveries using EM
surveys, the most common tool for discovering VMS deposits. With our own modern and more
powerful surface and downhole EM equipment expected onsite in June we can hopefully report
future exciting geophysical results to our shareholders in the months ahead. Our next batch of
assays from the Cabaçal's drill program will be released shortly and will be reporting holes CD005
to CD009.
Cabaçal's Geophysical Program
The Company's consultancy Core Geophysics has modelled results from nine drill holes, surveyed
by Brazilian contractor Geomag S/A (a company of the Wellfield Services Group). BHEM is a
standard exploration tool in confirming whether drill holes have intersected the peak of the
conductivity response associated with sulphide mineralization or have a significant off-hole
component which may point to adjacent concentrations of stringer, breccia, and massive sulphides.
This first phase of EM surveys is concluding ahead of shipment of the Company's own specialized
Digiatlantis probe, a leading and much stronger geophysical tool, manufactured by Australian
ElectroMagnetic Imaging Technology Pty Ltd Final tests of this equipment are being made this week
ahead of shipment to
Brazil
and field mobilisation in June. The clear association with copper sulphide
mineralization and the BHEM response has been a key driver in the Company's decision to purchase
this state-of-the-art equipment.
Figure 1: Extent of new EM plate models (fixed loop and BHEM) associated with the Company’s drill
program. Confirmation that large copper-gold mineralization was never mined. (CNW
Group/Meridian Mining S.E.)
The EM program has been successful in mapping out a series of BHEM conductivity responses
spanning the Southern Copper Zone ("SCZ") and Central Copper Zones ("CCZ"), with stacked
conductors overlapping in a domain extending approximately
200m
in a NW-SE direction by
230m
in
NE-SW trend (Figure 1). The current footprint of the conductivity response ("EM plates") is limited to
the effective search radius of the tool, and the new probe will improve and extend the resolution of
these initial models. Strong localized responses detected in the Eastern Copper Zone ("ECZ")
remain to be tested. The BHEM program will be progressively expanded as drill coverage extends
over this corridor. The ECZ includes amongst the strongest conductors with a peak conductivity-
thickness response of 423, indicating one of the strongest accumulations of Cu sulphides.
A significant outcome of the geophysical study has been to confirm that EM plates project both into
the area of the historical selective workings and outwards into areas untouched by mind
development. The SCZ recently returned strong results
1
of CD004
15.9m
@ 3.3% Cu, 0.7g/t Au,
15.7g/t Ag & 0.6% Zn
from
148.55m
including
10.2m
@ 4.9% Cu, 1.0g/t Au, 23.9g/t Ag & 0.7% Zn
from
151.97m
and CD003 that returned
58.6m
@ 0.6% Cu, 0.9g/t Au, 1.7g/t Ag, 0.2% Zn
from
110.0m
; including a higher-grade basal zone comprising
17.2m
@ 1.5% Cu, 2.5g/t Au, 5.0g/t Ag &
0.4% Zn
from
151.40m
. These intersections have been shown to have an EM plate extending out
from its known south west edge by a further
100m
and can be considered open.
Recent drilling has confirmed that localized stopes (~4m in height) are bordered above and below by
extensive stringer, breccia and disseminated Cu-Au sulphide mineralization, consistent with reports
that copper mineralization was not mined, if the mineralization was not above the 3g/t gold-only
historical mine cut-off grade. Hole CD012 (assays pending) provides a good illustration of the
selective nature of the historical gold-only cut-off grade. The hole was designed to twin BP Minerals
surface hole JUSPD076 (Dip -88; Azimuth 050) into the northern side of the CCZ, and historically
intersected:
32.1m
@ 0.3% Cu, 1.0g/t Ag from
22.8m
,
9.6m
@ 0.3% Cu from
60.5m
,
27.1m
@ 1.3% Cu, 0.9g/t Au, 5g/t Ag from
74.9m
, including
4.1m
@ 3.3g/t Au, 1.7% Cu, 10.5g/t Ag from
95m
1.5m
@ 6.8% Cu, 1.5g/t Au, 19.7g/t Ag from
99.4m
CD012 intersected a
4.0m
high mining cavity from
97.7m
, corresponding to the gold zone mined to a
3g/t Au cut-off grade. This would suggest that upwards of
20m
of high-grade hanging wall Cu-Au
mineralisation was unmined which also is the approximative zone of strong sulphide mineralisation
intersected at the same location by CD012. CD012 hole was then extended through the floor of the
void and immediately intersected some of the hole's strongest sulphide mineralisation. The presence
of CD012's sulphide mineralization above and below the mining void corresponds to Cu-Au-
mineralized intervals of the original JUSPD076 hole, highlighting and confirming that despite high Cu
grades, intervals weren't targeted by mining if they didn't meet the 3.0 Au g/t cut-off (Figure 2).
Photo 1: CD012: 94.94m-106.40m Mining void is from 97.7m ~4.0m wide. (CNW Group/Meridian
Mining S.E.)
_____________________
1
See Meridian news releases April 26, and May 5, 2021
The BHEM survey from the reopened JUSPD076 detected an EM plate focused to the immediate
SW of the drill hole extending over an area of
2497m
2
(conductivity thickness 100). Interestingly, the
response extends into the area where historical mine level plans show areas of selective extraction,
indicating that a significant volume of connected sulphide remains, consistent with reports from past
mining activity. BHEM was undertaken on another reopened and adjacent historical hole –
JUSPD104 – which modelled a more extensive shallow SW dipping EM conductor extending over
9396 m
2
(conductivity thickness 50), consistent with the undulating geometry the Cu sulphide layers.
The CCZ's EM plates overlap with positions identified further south-west in the SCZ and are
consistent with the signature of a stacked system of stringer to breccia copper sulphide
mineralization, co-incident with Cu-Au mineralization intersected by the historical and current drill
programs.
Hole CD009 (assays pending; Dip -55.2; Azimuth 330) similarly provides a good illustration of the
selective nature of the historical gold-only cut-off grade. This hole was drilled as part of a fan into
the Southern Copper Zone from the historical drill pad of JUSPD596. The hole was targeted towards
the southern limit of the underground workings, and was terminated at
153m
, with the angled hole
unable to advance having intersected the void. Whilst BHEM was not able to be conducted from
CD009 due to the abandoned rod string, the position was predicted from the adjacent BHEM EM
plate surveyed by CD006. CD009 showed increasing levels of stringer mineralization between
139m
to end of hole. Additional drill platforms will be evaluated to extend the BHEM footprint to the NW of
CD006. The Company's non-logged and future diamond drill holes will be surveyed once the
Company's Digiatlantis probe arrives on site, which has a significantly higher effective search radius.
Photo 2: CD009: 145.3m-153.0m (EOH) Mining void started at 153.0m (CNW Group/Meridian
Mining S.E.)
Re-Evaluation of the 2007 VTEM Survey
The combination of results from the Fixed Loop orientation survey over Cabaçal and the BHEM
survey information has allowed the Company to revisit the 2007 VTEM dataset and assess local and
regional EM responses that are of a similar magnitude to the Cabaçal mine area. The Cabaçal
mine's geophysical response is produced by thick packages of disseminated sulphides and stringer
to breccia sulphides, with occasional localized semi-massive to massive sulphides. Previous
modelling of the VTEM data was focused on the highest amplitude anomalies, which represent
exploration targets for more massive sulphide mineralization target such as Cabaçal West.
The Cabaçal mine was first detected as a conductivity anomaly by the historical INPUT survey by BP
Minerals being coincident to a Cu-Au soil anomaly but was not selected as a high-amplitude VTEM
anomaly in any previous evaluations. The review has highlighted several responses of interest in the
Cabaçal area. A more discrete response was recognized ~620m to the west-northwest of the mine
area, at a flanking position to the Cabaçal West conductivity cluster of the VTEM modelling. BP
Minerals historical drilling followed a northwest grid, while the 2007 VTEM indicated a west-
northwest deflection of the conductive trend aligning with the new conductor's location. The Cu soil
anomaly is open in this direction (Figure 2). Another set of anomalous responses has been identified
extending in a corridor up to 1km to the southeast of the limit of the historical workings along the
ECZ trend. Here the ECZ projects under a shallow-dipping gabbroic sill blocking any surface soil
anomaly.
Figure 2: Cabaçal – Cabaçal West area: Copper in soil anomalies (open to the west) associated
with the high-amplitude VTEM anomalies (yellow polygons) and newly modelled “Cabaçal-style”
responses (white stars). (CNW Group/Meridian Mining S.E.)
New regional geophysical targets have been identified extending over
700m
immediately to the west
of the
St Helena
mine area, and in a broad 4.0km corridor ~1.7km to the south-east of
St Helena
(Figure 3). The new southern target is significant not only with its strike length but to its proximity to
the original BP Minerals Cu-Au-Zn-Pb soil survey results in the
St Helena
area, which is open to the
southeast. Drilling within the
St Helena
mine area was focused on the shallow Zn dominated deposit.
This new southern "Cabaçal" type EM response is entirely new and untested, providing a major new
regional target for the future exploration programs of the Cabaçal project. The Company will
progressively expand its focus to the northwest and southeast extensions of Cabaçal and areas of
satellite geophysical and geochemical anomalies in the second and third quarter and has expanded
its landholder engagement program to incorporate a series of properties in these newly emerging
target areas. The exploration licence to the south-east of
St Helena
is undergoing renewal for a
second term.
Figure 3: Regional distribution of the both the high-amplitude VTEM anomalies (yellow polygons) and
newly modelled “Cabaçal-style” responses (white stars). (CNW Group/Meridian Mining S.E.)
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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Further information can be found at
www.meridianmining.co
Notes
Recent Fixed loop orientation electromagnetic surveys over Cabaçal have been conducted by
Geomag S/A Prospecções Geofísicas, a company of the Wellfield Services Group, using a
TEM57-MK2 Transmitter and PROTEM receiver for surface surveys and BH43-3 borehole three-
dimensional time domain (TDEM) probe for subsurface work. Quality control is performed daily by
the geophysical representative of the Wellfield Group, before and data sent to the Company's
independent consultant, Core Geophysics. Modelling of conductivity responses is undertaken
using industry-standard Maxwell software. Geophysical targets are preliminary in nature and not
conclusive evidence of the likelihood of a mineral deposit.
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 mineralisation. 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 S.E.
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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 S.E.
CNW 08:30e 11-MAY-21