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Drilling underway on Cabaçal West and near
mine Cabaçal EM conductors.
LONDON, July 20, 2021 /CNW/ - Meridian Mining UK S
(TSXV: MNO) (Frankfurt: 2MM)
(OTCQB: MRRDF) ("Meridian" or the "Company") is pleased to report
that it has initiated drilling on the Cabaçal West target recently
defined by its Fixed-Loop Transient Electro-Magnetic ("FLTEM")
surface surveys at its Cabaçal Copper-Gold Project ("Cabaçal") in
Mato Grosso, Brazil. Cabaçal West
is 1.5km west of the Cabaçal mine and coincident with a significant
soil anomaly while the FLTEM response is open and strengthens to
the northwest. An associated strong copper in soil anomaly also
remains open to the west approaching the conductor. The initiation
of the near mine drill program marks the first phase in a long-term
program to test the numerous prospects defined by the recent VTEM
airborne survey, and the historical surface exploration programs of
BP Minerals / RTZ.
Highlights of program:
- Meridian starts drilling large late channel bedrock conductor
at Cabaçal West;
- Meridian initiates drill program targeting the Cabaçal West and
Cabaçal South FLTEM anomalies;
- Cabaçal West bedrock FLTEM conductor is 485m long, open to the NW with conductivity
consistent with massive sulphide targets;
- Cabaçal South is a bedrock late channel FLTEM target
200 m long with proximal historical
drilling hosting Copper-Gold mineralization;
- Ongoing geophysical and drilling programs targeting massive
sulphides associated with Cabaçal Cu-Au VMS system;
- Targets represent the first of multiple modern VTEM anomalies,
and historical geophysical and geochemical targets to be tested in
an ongoing program.
"We are excited to initiate drilling on Cabaçal West, one of
many bedrock targets distributed along the 36kms of prospective VMS
stratigraphy in this under-explored camp," commented Dr
Adrian McArthur, CEO and President.
"Meridian's in-house geophysical survey team has remained active in
deploying our own state of the art geophysical equipment on surface
surveys to the south-east of the mine. This new phase of
exploration drilling will be accompanied by bore-hole EM surveys,
to further develop vectors in the 3D targeting of hidden sulphide
mounds. These deposits are known to occur in clusters in analogue
VMS camps, and FLTEM has been a key tool in unlocking discoveries
over the life of these camps. Our ongoing drill program will
balance drilling on new targets with ongoing resource definition on
Cabaçal itself in this exciting expansion phase for the
Company".
Cabaçal Near Mine Drilling Campaign
The initiation of the drill program targeting blind geophysical
anomalies marks the first phase in a long-term program to test the
many target positions defined by both the more recent VTEM survey,
and historical surface exploration programs of BP Minerals / RTZ.
This wealth of near surface, untested targets is not unusual as
Cabaçal is a camp scale and intact VMS system. In addition, the
Company has commenced a program to digitize available historical
geophysical data retrieved from the archives of RTZ, to refine
drill targets for massive to disseminated sulphides characteristic
of Volcanic Massive Sulphide ("VMS") systems.
The Company has commenced drilling on two near-mine targets,
tarting Cabaçal West and Cabaçal South (Figure 1). These targets
represent the first of multiple anomalies representing targets for
massive sulphide mineralization in the Cabaçal VMS system
distributed over the 36 strike-kilometres of prospective
stratigraphy. The initiation of the drilling program follows
Meridian's successfully deployment of its new Electro-Magnetic
survey equipment purchased from EMIT (ElectroMagnetic Imaging
Technology) – an Australian specialist manufacturer whose equipment
has been successfully deployed in analogue camps such as Hudbay's
Flin Flon project in Canada.
The initial targets being prioritised for drilling include
Cabaçal West, defined by Meridian's recent in-house survey program,
and Cabaçal South, defined during the first phase of orientation
work by Brazilian geophysical contractor, Geomag.
The Cabaçal West conductor forms a deep-rooted late channel
response extending over 485m in
length, open to the NW. The modelled plate ("Plate") is situated
along the Cabaçal conductive trend, 1.5 km west-northwest of the
historical Cabaçal mine and down dip from an extensive Cu-Au soil
anomaly. The EM conductivity increases with depth and strengthens
to the north-west. The modelled late channel response has a
conductance is 109 Siemens ("S"), and the conductive source dips
45˚ to the southwest. 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.
The Cabaçal South late channel conductor measures 200m in strike length, and is a stronger
conductor than Cabaçal West. The conductor is centred approximately
430m to the south of the historical
limit of development of the Cabaçal Mine. The modelled plate dips
37˚ to the southwest and has a conductivity of 458 S.
These targets represent two of 21 targets in the belt defined by
the 2007 VTEM survey, and additional "C-series" targets developed
by historical mapping, geochemical and early geophysical programs
of BP Minerals, whose programs discovered greenstone belts in the
1980's. In addition, there are some 27 conductors defined by the
aerial INPUT surveys within the Company's 484 km² of new licenses
in the adjacent Jaurú & Araputanga Greenstone belts, which form
part of the long-term exploration and development strategy of the
Company with a focus on copper and gold.
Historical Data Review
The Company has engaged the contract services of Brazilian
specialist geophysicist Eduardo
Henrique, who has 25 years of experience, working for
Western Mining Corporation, Reconsult Geofísica Ltda, and Vale
Metais S/A. who has support the initiation of the Company's
in-house survey program, and to conduct a review of historical
geophysical data and reports retrieved from the archives of RTZ.
Some initial observations from past data and reporting indicate
that the mineralized Cabaçal Deposit is associated with:
- A chargeability IP anomaly 3 to 4 times the background;
- A resistivity low 5 to 8 times the below the background;
- A radiometric potassium trend of low values (may be associated
to chloritization);
- A narrow, short strike-extent magnetic low; and
- The results of the review will be used by Meridian as baseline
parameters for the current and it's future IP surveys.
The chargeability response associated with the main deposit are
very high (historical line LT600N) – readings typically above 20 mV
extending up to 90mV – uncommonly high. Whilst part of the
deposit projects below a mafic dyke, an IP response extends up to
2km south of the historical mine workings, into BP's C2 target
area. The data is under review and will form an important
foundation for focussing ongoing exploration programs building out
from the Cabaçal mine.
The Company appreciates the support of local landholders who
have signed contracts facilitating the extension of surveys over
and to the south of the historical Cabaçal mine site, and continues
a program to engage with further landholders in this historical
mining district. The Company draws much of its current employees
from local communities. Survey work is non-disturbing to grazing
land on which it occurs, and activities from drilling programs will
undergo progressive rehabilitation to return areas of limited
ground disturbance to the same high-quality pasture.
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
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 S.E.
