NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES
OR FOR DISSEMINATION IN THE U.S.
CD-013 drills 94.0m @ 0.7% CuEq1 from 8.0m and 22.5m @
0.7% CuEq from 119.2m
LONDON, June 15, 2021 /CNW/ - Meridian Mining UK S (TSXV:
MNO) (Frankfurt: 2MM) ("Meridian"
or the "Company") is pleased to report further assays from its
ongoing 10,000m drill program at its
Cabaçal Copper-Gold camp-scale VMS project ("Cabaçal") in
Mato Grosso, Brazil. Multiple
zones of significant and extensive Copper ("Cu"), Gold ("Au") and
Silver ("Ag") mineralisation starting at 8.0m, have been returned from the Diamond Drill
Holes ("DDH"): CD-010 to CD-013 (Table 1), within and extending out
from the Cabaçal Mine (Figure 1). CD-012 has confirmed high-grade
Cu-Au-Ag mineralisation remains above and below the old
workings2 a result that the Company considers will be
replicated throughout the mine; further assays are pending.
Meridian is also reporting that its modern, deep penetrating
Electromagnetic ("EM") equipment is in Brazil and will be onsite shortly. Meridian's
geophysics team is ready to start IP and EM surveys over its high
priority VTEM targets: Cabaçal West and Cabaçal South which will
then be tested by drilling. With over CAD
5.0M in the Bank and via further capital inflows from
Warrants being exercised, the Company is well funded to continue
delivering results.
Highlights of today's results:
- CD-013 assays 116.5m @ 0.7% CuEq of cumulative Cu-Au-Ag
mineralisation from 8.0m;
including:
-
- 94.0m @ 0.7%
CuEq from 8.0m;
including
-
- 8.5m @ 1.9% CuEq from
54.5m;
- 22.5m @ 0.7%
CuEq from 110.5m;
including
-
- 5.6m @ 1.6% CuEq from
119.2m ;
- CD-012 assays 37.9m @ 0.7% CuEq from 59.8m, including:
-
- 15.2m @ 1.3%
CuEq from 82.5m above the
4m mining void, and
- 2.0m @ 6.7% CuEq
from 101.6m, below the void;
- CD-010 intercepted multiple zones of shallow
Cu-Au-Ag mineralisation starting 12.7m: including:
-
- 9.4m @ 0.2% CuEq from
12.7m;
- 11.0m @ 1.1%
CuEq from 25.9m;
- 10.3m @ 0.8%
CuEq from 47.9m,
- 11.1m @ 0.6%
CuEq from 65.0 m
- CD-011 targeting a low grade zone returned;
-
- 7m @ 0.3% CuEq from 11m; and
- 20.2m @ 0.5% CuEq from
46.3m.
1 Note: True widths are CD-010 to 012
are approximately 90% of downhole lengths and assay figures and
intervals rounded to 1 decimal place; the true width for CD-013 is
approximately 80% of downhole lengths. Copper Equivalents ("CuEq")
have been calculated using the formula CuEq = ((Cu%*Cu price 1% per
tonne) + (Au ppm*Au price per g/t) + (Ag ppm*Ag price per g/t) +
(Zn%*Zn price 1% per tonne)) / (Cu price 1 % per tonne). Commodity
Prices: Copper ("Cu") and Zinc ("Zn") prices from LME Official
Settlement Price dated April 23, 2021 USD per Tonne: Cu = USD
9,545.50 and Zn = USD 2,802.50. Gold ("Au") & Silver ("Ag")
prices from LBMA Precious Metal Prices USD per Troy ounce: Au = USD
1781.80 (PM) and Ag = USD 26.125 (Daily). The CuEq values are for
exploration purposes only and include no assumptions for
metallurgical recovery.
|
__________________________
|
2 Meridian Mining News Release of
11 May, 2021
|
"Today's drill results continue to reinforce the strength of the
very large Copper and Gold system at Cabaçal." commented Dr
Adrian McArthur, CEO and President.
"Cabaçal's mineralisation starts at surface and the stacked lenses
can at times, coalesce as seen in CD-013's cumulative 116.5m @ 0.7% CuEq. We started Cabaçal's resource
development program based on the extensive Cu-Au mineralisation
defined by BP Minerals and Rio Tinto in the 80's and 90's. Today,
we are launching the exciting next stage, where the most modern IP
& EM equipment will start surveying Cabaçal including the
1,800m long Cabaçal West VTEM
conductor and the 1,000m south-east
extension to the ECZ. Once we have refined our geophysical targets,
with first results expected in late June early July, we can start
drilling Cabaçal West and Cabaçal South, targeting the potential
massive sulphide pile of the Cabaçal mine. Being well financed
having $5.0M in cash-on-hand and more
coming with the Warrant conversions, Meridian is on target for an
exciting June and 3rd & 4th Quarter 2020
news flow.
Geophysics Update
Extensions to the mineral system will be surveyed by a
combination of EM and IP geophysical surveys in the coming weeks.
The Company's own modern Induced Polarization equipment is in the
field targeting the disseminated and more brecciated styles of
Cu-Au mineralization; supplementing the Company's EM equipment
expected to shortly arrive in Cuiaba; with first results by late
June. First IP and EM results are expected to extend mineralisation
out from the mine's limits and to vector near mine targets starting
with the down plunge Cabaçal West VTEM plates then proceeding to
the Eastern-Copper-Zone ("ECZ") ~1000m south-eastern extension.
Once the mine and near-mine upside is defined the geophysics will
expand along the 16.0km long Mine Corridor zone.
Drilling Update
The Company's program is advancing, with a combination of twin
and infill drilling straddling the ECZ, Central-Copper-Zone ("CCZ")
and Southern-Copper-Zones ("SCZ") (Figure 1). Over 4,000m of drilling has been completed todate. The
focus is shifting slightly to initiate drilling on south-eastern
and north-western extensions outwards from the mine, before moving
to the priority EM targets of: Cabaçal West, Cabaçal South, and
Cabaçal South-East. Rig 1 is currently testing Cabaçal NW extension
geochemical anomaly (Figure 2). Assays reported to date continue to
strengthen confidence in both the geological data and the potential
of the deposit.
CD-012 was designed to cross a zone of Cu-Au mineralisation
intercepted by BP Mineral's DDH JUSPD076 that returned (pre-mining)
42.2m @ 0.9% Cu, 0.6g/t Au & 3.2
g/t Ag from 59.8m. CD-012 intercept
of the same zone returned a favourable 40.0m @ 0.6% Cu, 0.6g/t Au, 2.2g/t Ag, 0.1% Zn
from 59.8m[3]. This excludes the
mineralised zone within the 4.0m
mining void that was intercepted by CD-012.
CD013 targeted the ECZ and intercepted extensive mineralisation
starting at 8.0m. The hole confirms
that thick high-grade shallow mineralization remains after the
selective but short-lived mining in the 1980's and 1990's by BP
Minerals and Rio Tinto. The results highlight the potential of the
ECZ, for infill resource definition drilling.
CD-010's and CD-011's assay results from the north-western limit
of the CCZ mined area, highlighted the presence of shallow layers
of open Cu-Au mineralisation providing future drill targets
extending to the northwest of the historical workings.
__________________
|
3 Calculation treats mining void as
0m @ zero grade for the purposes of considering as a mineralized
package.
|
Hole Id
|
Zone
4
|
Intercept
|
Grade
|
From
|
CuEq
|
Cu
|
Au
|
Ag
|
Zn
|
Pb
|
|
|
(m)
|
(%)
|
(%)
|
(g/t)
|
(g/t)
|
(%)
|
(%)
|
(m)
|
|
|
|
|
|
|
|
|
|
|
CD-010
|
CCZ
|
9.4
|
0.2
|
0.2
|
0.0
|
0.4
|
0.0
|
0.0
|
12.7
|
|
|
11.0
|
1.1
|
0.3
|
1.3
|
0.9
|
0.1
|
0.0
|
25.9
|
|
|
10.3
|
0.8
|
0.5
|
0.5
|
2.4
|
0.0
|
0.0
|
47.9
|
|
|
11.1
|
0.6
|
0.4
|
0.4
|
0.0
|
0.0
|
0.0
|
65.0
|
|
|
|
|
|
|
|
|
|
|
CD-011
|
ECZ
|
7.0
|
0.3
|
0.3
|
0.0
|
0.0
|
0.0
|
0.0
|
11.0
|
|
|
20.2
|
0.5
|
0.3
|
0.3
|
0.9
|
0.0
|
0.0
|
46.3
|
|
|
|
|
|
|
|
|
|
|
CD-012
|
ECZ
|
29.8
|
0.3
|
0.3
|
0.0
|
0.0
|
0.0
|
0.0
|
22.9
|
|
|
37.9
|
0.7
|
0.5
|
0.3
|
1.7
|
0.1
|
0.0
|
59.8
|
Including
|
|
15.2
|
1.3
|
0.9
|
0.5
|
3.9
|
0.2
|
0.0
|
82.5
|
|
|
2.0
|
6.7
|
2.8
|
6.2
|
11.3
|
0.2
|
0.0
|
101.6
|
|
|
|
|
|
|
|
|
|
|
CD-013
|
ECZ
|
94.0
|
0.7
|
0.6
|
0.1
|
1.5
|
0.0
|
0.0
|
8.0
|
Including
|
|
8.5
|
1.9
|
1.4
|
0.5
|
5.0
|
0.2
|
0.0
|
54.5
|
|
|
22.5
|
0.7
|
0.6
|
0.2
|
2.1
|
0.0
|
0.0
|
110.5
|
Including
|
|
5.6
|
1.6
|
1.2
|
0.4
|
4.8
|
0.1
|
0.0
|
119.2
|
|
|
|
|
|
|
|
|
|
|
|
Drill
Details
|
|
Hole
Id
|
Dip
|
Azimuth
|
EOH
|
|
|
|
|
|
|
CD-010
|
-66
|
040
|
106.0
|
|
|
|
|
|
|
CD-011
|
-50
|
045
|
112.2
|
|
|
|
|
|
|
CD-012
|
-85
|
050
|
106.4
|
|
|
|
|
|
|
CD-013
|
-50
|
120
|
162.7
|
|
|
|
|
|
|
_________________
|
4 ECZ
Eastern Copper Zone, CCZ Central Copper Zone & SCZ South Copper
Zone
|
Table 1 Highlighted assay results for CD-010 through to
CD-013.
The mineralisation reported today is a consistent copper
dominant sulphide assemblage, present as disseminated, stringer,
brecciated zones with local semi-massive sulphides.
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: info@meridianmining.net.br
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
Holes have been drilled HQ through the saprolite and upper
bedrock and reduced to NQ – mineralized intervals represent half NQ
drill core. 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). Silver is repeated by
method AAS12E. Samples are held in the company's secure facilities
until dispatch 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 controls samples, including blanks and gold and
polymetallic standards supplied by ITAK, supplementing laboratory
quality control procedures.
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.