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Cabaçal West conductor confirmed as priority
target for massive sulphides.
LONDON, July 8, 2021 /CNW/ - Meridian Mining UK S (TSXV:
MNO) (Frankfurt: 2MM) ("Meridian"
or the "Company") is pleased to report on first results from its
Fixed-Loop Transient Electro-Magnetic ("FLTEM") surface survey,
using its own modern in-house equipment at the Cabaçal Copper-Gold
Project ("Cabaçal") in Mato Grosso,
Brazil. The first survey over the Cabaçal West target has
detected a significant bedrock conductor. The conductive response
starts at shallow depths and increases with depth to form a
deep-seated late channel response, and open to the north-west. The
modelled plate ("Plate") is situated along the Cabaçal conductive
trend, 1.5 km west-north-west of the historical Cabaçal mine and
down dip from an extensive Cu-Au soil anomaly. The Company plans to
drill test the Plate late July, interpreting the target to be
potentially, the massive sulphide pile of the Cabaçal mines
Volcanic Massive Sulphide ("VMS") system.
Highlights of first results:
- Meridian detects large late channel bedrock EM conductor at
Cabaçal West;
- The EM conductivity increases with depth and strengthens to the
North-west
- Cabaçal West EM survey is ~40% completed and remains open.
- First FLEM results of modelled late channel conductor are
-
- An initial strike length of 485m
open to the NW;
- A shallow depth starting from 235m below surface;
- It extends vertically 455m down
to 690m below surface;
- Plate's conductance is 109 Siemens ("S");
- Cabaçal West's and Cabaçal South's bedrock conductors are to be
drill tested as first targets for massive sulphides associated with
the Cabaçal Cu-Au system, programmed for late July.
"The initial fieldwork by Meridian's in-house geophysical survey
team has delivered positive results using our own state of the art
geophysical equipment, confirming the high prospectivity of the
Cabaçal West target" commented Dr Adrian
McArthur, CEO and President. "The large, late channel
bedrock conductor defined at Cabaçal West measures 485 m long by 690m
deep, has a conductance of 109S and is open to the northwest and is
downdip from the Cu soil anomaly that extends out from the Cabaçal
mine. Both the Cabaçal West and the previously defined Cabaçal
South anomalies show conductivities significantly higher than the
conductors, surveyed over Cabaçal itself in April of this year.
These targets represent the first to be tested in what will be a
long-term program of FLTEM surveys ultimately to cover over 36kms'
in strike length of prospective VMS stratigraphy in this
under-explored camp. We are now moving to the next stage of drill
testing these two priority targets, complimenting them with
down-hole EM surveys to vector in what we hope will be an exciting
expansion phase for the Company".
Cabaçal West FLTEM
Meridian's has successfully deployed is Electro-Magnetic survey
equipment, with first results reported over the Cabaçal West
Conductor – one of a long series of targets to be tested in the
extensive Cabaçal VMS Camp.
The Cabaçal West target was first defined by the airborne VTEM
survey, which was flown in 2007 on 300
m line spacings and is one of 21 anomalous responses. In
June 2021, Meridian conducted a FLTEM
surface survey covering the southern end of the conductor over the
São Paulo Farm, hosting also the
main Cabaçal Deposit, whose owner have been highly supportive of
the Company's exploration program. Land-access request has been
lodged with owners on neighbouring properties with extensions to
the south already approved; and approaches are ongoing with the
landowner to progress the FLTEM survey and cover all of the Cabaçal
West target. Survey work is non-disturbing to grazing land on which
it occurs.
Maxwell Plate modelling
undertaken by the Company's consultants, Core Geophysics, show an
extensive, conductive source dipping 45˚ to the SW. An early time
response is detectable from a depth of 180m, with conductivity increasing at depth. The
main late-time response is modelled to be sourced with a conductor
with a depth to top of 235m, a strike
length of 485m (open to the NW), a
depth extent of 690m, and conductance
of 109S. The Cabaçal West's conductivity is over an order of
magnitude greater than that surveyed over the Cabaçal deposit,
which is dominated by disseminated style mineralization and lower
intervals of stringer and stockwork mineralization. Cabaçal itself
is structurally bound, with an interface contact that would
conventionally correspond to the massive sulphide position being a
ductile thrust fault with an unknown degree of offset. Cabaçal West
and the previously defined Cabaçal South targets will be the first
to be tested for structurally offset or satellite massive copper
sulphides in the VMS camp. Drilling these targets with follow up
bore hole EM surveys is programmed for late July.
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: info@meridianmining.net.br
Ph: +1 (778) 715-6410 (PST)
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Further information can be found at www.meridianmining.co
Notes
Electromagnetic surveys have been conducted using the SMARTem
Geophysical Receiver System manufactured by ElectroMagnetic Imaging
Technology (EMIT). Data sent to the Company's independent
consultant, Core Geophysics. Modelling of conductivity response 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.
