Meridian Widens C2A Copper Corridor and Adds New Gold Trend at Cabaçal
Meridian Widens C2A Copper Corridor and
Adds New Gold Trend at Cabaçal
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U.S./
Gold mineralization overprinting Cabaçal's copper-gold VMS system recognized over an 11km
zone
LONDON
,
Dec. 6, 2021
/CNW/ - Meridian Mining UK S (TSXV: MNO) (
Frankfurt
: 2MM) (Tradegate:
2MM) (OTCQB: MRRDF) ("Meridian" or the "Company") is pleased to provide an update on results
from its ongoing exploration programs at its camp scale Cabaçal Copper-Gold VMS Project
("Cabaçal") in
Mato Grosso, Brazil
. Meridian has received the 1
st
results from the gold ("Au") in-soils
data collected at the C2A Copper ("Cu")-Zinc ("Zn") & Au prospect ("C2A") indicating a broad 4Km
long Au anomaly with linear Au highs being present. The Company has combined today's results with
its 2021 exploration results, and Cabaçal's combined historical production and exploration
databases. This has recognized the potential of the late-stage Au structures overprinting the
Cabaçal Cu-Au-Silver ("Ag") VMS system to extend from the Cabaçal mine area in the northwest to
the Santa Helena Zn +Cu-Au-Ag mine in the southeast; a distance of 11km (Figure 1). Further
historical data to the northwest and southeast of this mine corridor's limits remains under review and
this regional Au overprint may extend further. Meridian also reports that the initial trenching along
C2A's
1,500m
long Area 1 anomaly have confirmed Cabaçal's VMS host units with a broad ~35m
wide Cu-Zn anomaly that remains open (Figure 2). Further results for C2A are pending.
Highlights of today's update:
Meridian identifies Au overprint of VMS Cu-Au units, present along a 11km mine corridor;
Ongoing review of project scale datasets identifies broader footprint of late-stage Au event
superimposed on earlier VMS Cu-Au system;
High grade Au veins potential extends to the southeast as far as the Santa Helena Mine;
Santa Helena drill core shows evidence for high-grade Au overprint;
Au and VMS Cu-Au trends are open;
C2A's soil surveys lengthens and widens anomalous Au corridor identifying multiple anomalies;
Peak Au results to 402ppb Au;
Au responses align with, or project from base metal trends;
C2A's Area 1's first trenching results confirms Cu & Zn present in hosting VMS units;
Peak assays of
0.4% Cu
,
0.6% Zn
within a broad and open base metal anomaly;
Strongest zone of mineralization measured
~35m wide and remains open;
Meridian enhances in-house geophysical capabilities; and
New gravity meter deployed to Cabaçal.
Dr
Adrian McArthur
, CEO and President of Meridian, comments, "Following the recognition of high-
grade Au in the Cabaçal Northwest Extension
1
, the Company has been expanding its programs to
understand the potential for repeats of the high-grade Au event superimposed on the earlier VMS
Cu-Au-Ag +Zn-Pb system. The Company is pleased to report that Au results now received from the
Cabaçal C2A area, confirm that the Au overprint seen in the Cabaçal's mines VMS units extends
throughout the region with multiple targets identified. A review of historical drill core photos also
clearly reveals the presence of the late-stage high-grade Au veins cutting the Santa Helena mine's
VMS package, 11km to the southeast of Cabaçal. Our first trenches at Area-1, a
1,500m
long C2A
prospect, have exposed the weathered Cabaçal VMS host units, with a broad ~35m wide,
anomalous Cu-Zn zone returning assay results of up to 0.4% Cu & 0.6% Zn. This
35m
zone is open
to the northeast, as the trench was halted due to the deepening cover but confirms another prospect
within the greater 36 km strike of licenced tenure. Today, Meridian has a centralised stand-alone
asset with the old Cabaçal Cu-Au-Ag mine and its extensions, but now with this expanding additional
portfolio of base and precious metals prospect, the company presents as a strong future hedge
between base and precious metal commodities."
_______________________
1
See Meridian news releases, September 2, 7, 13, October 21, 27, November 9 and 29, 2021.
C2A Soil Survey
The Company has received results from 1092 soil samples collected in the C2A sampling campaign,
adding additional context to prior base metal responses
2
. A number of signatures are evident, with
Au responses newly recognized within and projecting from Cu-Zn-Lead ("Pb") anomalies.
Highlights include:
Area 1
: a
1.5km
long
Cu prospect: associated with peak rock chip values from reconnaissance
sampling of 0.4% Cu, 0.2% Zn (CBRO00027) and 0.4% Zn – 855 ppm Cu (CBRO00007). A Au
anomaly flanking this position has now been newly recognized. This requires some additional
definition, with a
400m
gap between lines, and one line as a 47ppb Au response on the western
flank of the survey limit. There is a peak Au value of 149ppb Au. Trenching for Cu-Zn & Au is
being expanded.
Area 2
: A
700m
corridor of >200ppm Zn/>200ppm Pb in soil response. This significant
geochemical target has flanking conductivity responses to the immediate Northwest. A linear Au
in soil response has been recognized now in this region, and is positioned ~400 –
600m
Northwest of the Sucuri VTEM conductor, peak response of 218ppb Au;
Area 3
: A
400m
corridor characterized by a >200ppm Zn in-soil response. The soil anomaly has
coincident historical surface conductivity anomalies, and flanking conductivity and chargeability
responses to the immediate Southwest. Soils surveys to continue into 2022;
Area 4:
This area is associated with a higher-amplitude Cu in-soil response extending over two
200m
spaced lines with a peak value of 0.10% Cu. An offset corridor of historical EM
conductivity trending in a Northwest-southeast orientation, is seen 550 –
800m
Southwest and
downdip of Area 1. The Cu response has low-level Au anomalism: peaking in the 31-47 ppb Au
range in the area associated with the EM responses. Between Area 1 and Area 4, the peak Au
in soil response of 402ppb Au is encountered.
The C2A area was never targeted by historical drilling campaigns. The additional of high-
amplitude Au in-soil responses, some of which remain open, add significant context to the
exploration potential of the 11km mine corridor extending between Cabaçal and Santa Helena.
The presence of islands of bedrock suggests that the saprolite profile is not very deep.
_____________________
2
See Meridian news release, November 1, 2021
Figure 1: Au in soil results over analytic signal greyscale magnetics, with Au in drill assay results
superimposed in plan view. (CNW Group/Meridian Mining UK Societas)
C2A Trenching
The Company has started a reconnaissance trenching to gather more information on the local
substrate. The program is limited with the wet season commencing, but already confirmed the
hydrothermal signature with structural overprinting, and validated a mineralized source to the Cu in-
soil's 1.5km anomalous zone.
Trenching across the principal soil anomaly confirmed the presence of supergene Cu mineralization
hosted within foliated mafic metavolcanics bound by an altered felsic volcanic unit. Initial portable
XRF and subsequent laboratory assays confirmed the presence of Cu mineralization in weathered
basement rocks (Peak Cu sample CBCH00848: 0.38% Cu, 0.11% Zn, 0.03% Pb. Peak Zn sample
CBCH00863: 0.61% Zn; 0,08% Cu, 0.00% Pb). Secondary Cu mineralization is associated with both
overprinting quartz veins and the matrix of the host rock. For safety, the trench was offset from the
location of fresh rock chip mineralization at surface the showed fresh blebby sulphides
75m
to the
north. The trench position was dominantly within saprolite.
The trench returned a composite of
41m
@ 0.1% Cu, 0.4g/t Ag, 0.2% Zn, 0.0g/t Au, but still
terminated within still a base metal anomalous host unit. A thickening colluvial overburden prevented
the trench extending further to the northeast and with the still within above-background Cu halo
(overall Cu footprint of anomalous zone >
35m
true width and open; Figure 2).
Figure 2: Trenching site associated with gridded soil geochemical response in the first focus area of
the C2A target position. (CNW Group/Meridian Mining UK Societas)
Gold Review
The new Au in-soil results in the C2A area provide an important link in the 11km mine corridor
between Santa Helena and Cabaçal, with anomalies up to 402ppb Au being significant. With the
recognition of the late-stage Au overprinting event now being extensive at Cabaçal and its northwest
and southeastern extensions (Photo 1 Top), a review of available logs and photographs of historical
core from the Santa Helena mine was undertaken and confirmed the exact same superimposed Au
overprint.
JUCHD031 drilled at Santa Helena returned an intersection of
27.6m
@ 1.6% Cu, 1.5g/t Au, 36.3g/t
Ag, 4.4% Zn) from
24.9m
. A higher-grade Au core within this returned
3.9m
@ 4.7% Cu, 3.9g/t Au,
65.5g/t Ag, 5.4% Zn from
39.7m
. Peak assays in the interval 39.68 -
40.67m
of 6.7 g/t Au show an
association between the host rock and quartz veins post-dating the VMS mineralization event (Photo
2 Bottom).
Photo 1 (Top): Photo of late quartz vein from Cabaçal Northwest Extension, hole CD-072, Photo 2
(Bottom): Photo of late quartz vein within the deformed VMS stratigraphy from Santa Helena Mine.
Quartz-pyrite-chalcopyrite vein within bedded sphalerite-pyrrhotite-pyrite host. (CNW
Group/Meridian Mining UK Societas)
Three kilometers to the northeast of Santa Helena, the sparsely drilled Sucuri VTEM target has a
peak assay reported of
1m
@ 140g/t Au, 8.4% Cu, with Cu, Pb and Zn at levels of <0.1%. These
results suggest that although in many cases the Au event exploits the same structural pathways as
the base metal systems, that the Au mineralization also has potential to become detached and
extend beyond the immediate base metal host. This historical Sucuri result presents a similar
potential opportunity as per JUSPD-216 did for the Cabaçal Northwest Extension
3
.
The Company will continue to develop targets having recently purchased a new gravity meter (CG-6
Autograv™ from Scintrex) which has been delivered to site and will be deployed following training.
This will be used initially for reconnaissance work and orientation studies at Cabaçal, for deep
structural mapping. The Company will further deploy a program of deep-seeking induced polarization
following recognition of the broad Cu-Pb-Zn halo, which the aim of mapping thickenings of the
sulphide pile, feeder pathways and critical contact to better resolve structure. The use of the gravity
meter will also be extended to the Company's projects in Espigão do Oeste to assist with Iron-
oxide-copper-gold targeting.
______________________
3
See Meridian news release, September 2, 2021
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
methods ICP40B and ICP40B_S (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.
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
Meridian Mining UK S
Email:
Ph: +1 (778) 715-6410 (PST)
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Further information can be found at
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 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.
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]
CO: Meridian Mining UK Societas
CNW 07:30e 06-DEC-21