AMSTERDAM, The Netherlands,
Aug. 1, 2017 /CNW/ - Meridian Mining
SE (TSX-V: MNO) ("Meridian " or the "Company") today announced that
the Company is initiating its Coice de Cobra drilling campaign at
the Espigão do Oeste project, in Rondônia Brazil. Support crew have mobilized for
immediate commencement of the first hole in the Cascavel target
area.
"The commencement of the first ever drill campaign is the next
step in fast-tracking exploration of this newly identified gold
system," said Anthony Julien,
President and CEO of Meridian. "Our trenching program has shown
that multiple structures are present beneath the shallow soil
cover, reaching widths of 3 – 4m. The combined drilling and
trenching campaign will allow us to unlock the excellent
exploration potential of the area."
Meridian first identified gold anomalies at its wholly-owned
Espigão do Oeste project during stream geochemical surveys in 2016
(see news release dated July 19,
2016). The Coice de Cobra area was prioritized for
evaluation based on a higher concentration of positive gold counts
(Figure 1). The Company announced that it had initiated bedrock
evaluation with a trenching program on June 14, 2017. The
drill rig is now on site and is commencing its first drill holes at
the Cascavel Target area, testing depth extensions to peak trench
intervals of 3.8m @ 3.88g/t Au, including 1.8m @ 5.70g/t Au (true
width; Figure 2; Figure3).
![Figure 1: Stream anomalies with drainage coloured by gold counts, with digital elevation model in the background. Boxed area prioritized for infill soil and mapping illustrated in more detail in Figure 2. (CNW Group/Meridian Mining S.E.) Figure 1: Stream anomalies with drainage coloured by gold counts, with digital elevation model in the background. Boxed area prioritized for infill soil and mapping illustrated in more detail in Figure 2. (CNW Group/Meridian Mining S.E.)](https://mma.prnewswire.com/media/540996/Meridian_Mining_S_E__Meridian_Begins_Drilling_at_Coice_de_Cobra.jpg)
Ongoing reconnaissance trenching is currently focused on the
Caninana and Jibóia target corridor areas. Bedrock exposure is
limited and the program is evaluating the bedrock source to soil
anomalies, which have peak values of 714ppb Au. Anomalies extend
over strike lengths of 400 – 1000m and are associated with
scattered anomalous rock chips, which have returned peak values of
9.8 g/t Au.
Structural evaluation and trenching is ongoing. Assays remain
pending for trenches in the Caninana and Jibóia areas, where some
strong silica-flooded alteration zones are present.
The focus of initial drilling will be to test targets over the
top 10 – 50m, and progressively establish the depth of the oxide
zone, the plunge of thickened vein zones, and the cross-strike
footprint of the mineralized vein systems. Deeper targets will be
developed as plunge controls on higher grade zones are
established.
NOTES
Positive visual identifications of gold in field
pan-concentrates are cross-checked by mineralogical reports at SGS
Laboratories in Belo Horizonte.
The "gold counts" referenced in the release is a measure of the
number of gold grains in a pan concentrate of a set volume of
material. For drainage sampling, this represents a 20 liter bucket
of alluvium from the lower level of a stream channel. The technique
is an indicator of minerals of exploration interest in the source
area and are not referenced to grade. Soil samples are collected by
pitting or hand-auger from "B-Horizon". Samples are sieved to 80#
and pulverised to 150#. Gold in soil samples is analysed by Fire
Assay of a 50g charge (method FAA505). Gold in rock samples is
analysed by SGS method FAA323 (fire assay of 30g charge), with
samples containing visible gold analysed by screen fire assay (SGS
method FAASCR). Analytical quality is monitored by certified
references and blanks. Until dispatch, samples are stored in
the company's supervised stockpile yard or exploration office. The
samples are couriered to the assay laboratory using a commercial
contractor (Eucatur). Pulps and rejects are returned to the
Company. The company conducts periodic umpire testwork to review
results.
Qualified person
The technical information about the
Company's exploration activity 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 SE,
"Anthony Julien"
Anthony Julien
President, CEO and Director
ABOUT MERIDIAN
Meridian Mining SE is focused on the acquisition, exploration,
development and mining activities in Brazil. The Company is currently focused on
exploring and developing the Espigão 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-commodity
regional exploration program. Meridian is currently producing high
grade manganese at its project located at Espigão do 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 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 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 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 has been established. In particular, because the Company's
production decision relating to BMC's manganese project is not
based upon a feasibility study of mineral reserves, the economic
and technical viability of the Espigão manganese project has not
been established.
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.