/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE
SERVICES OR FOR DISSEMINATION IN THE U.S./
High Grade gold trend of 3.0m @ 12.7g/t Au defined in Easter Copper Zone.
LONDON, Aug. 31, 2021 /CNW/ - Meridian Mining UK S (TSXV:
MNO) (Frankfurt: 2MM) (OTCQB:
MRRDF) ("Meridian" or the "Company") is pleased to report assay
results from its ongoing resource delineation and exploration
program at its Cabaçal Copper-Gold camp scale VMS project
("Cabaçal") in Mato Grosso,
Brazil. Significant near-surface zones of Copper ("Cu"),
Gold ("Au") and Silver ("Ag") mineralization (Table 1) have been
again assayed within and outside of the limits of the historical
Cabaçal Mine, by holes CD-026 through to CD-045 (Figure 1).
Multiple high-grade intervals continue to be intercepted from near
surface to shallow depths by the program to date. An anticlinal
"hinge" structure hosting high grade gold within the VMS layers is
being defined within the Eastern Copper Zone and represents an
attractive target for further infill drilling and gold upside.
Reported results span the three principal copper zones in the mine
setting (Southern, Central, and Eastern Copper Zones: "SCZ", "CCZ",
"ECZ" respectively).
Highlights of today's
results:
- Meridian reports further strong Cu-Au-Ag results from its
Cabaçal VMS project;
- Multiple layers of Cu-Au-Ag mineralization intercepted
include:
-
- CD029 (SCZ): 71.8m @ 1.0%
CuEq1 (0.7% Cu, 0.3g/t Au, 3.1g/t Ag & 0.2% Zn)
from 65.0m, including:
-
- 6.9m @ 2.4% CuEq (2.0% Cu,
0.5g/t Au, 7.6g/t Ag & 0.2% Zn) from 91.7m
- CD033 (CCZ): 53.6m @ 0.9%
CuEq (0.4% Cu, 0.8g/t Au & 2.1g/t Ag) from 34.0m, including:
-
- 11.7m @ 2.7% CuEq (1.1%
Cu, 2.5g/t Au, 7.0g/t Ag & 0.1% Zn) from 57.9m
- CD041 (ECZ): 31.4m @ 1.2%
CuEq (0.7% Cu, 0.5g/t Au, 4.5g/t Ag & 0.4% Zn) from
70m, including
-
- 10.3m @ 2.2% CuEq (1.6%
Cu, 0.7g/t Au, 9.9g/t Ag & 0.1% Zn) from 82.8m;
- CD045 intercepts high grade gold hinge zone within ECZ;
-
- CD045 intersected 37.2m @ 1.0%
CuEq (0.4% Cu, 1.1g/t Au & 1.4g/t Ag from 1.4m), including:
-
- High Grade "Hinge" structure assays 3m @ 12.7g/t Au, 0.1% Cu & 2.4g/t
Ag;
- Many holes are to be deepened through old workings targeting
high grade Cu-Au zones with the arrival of BQ core barrels to
site.
1 Note: True widths are
approximately 90% of downhole lengths and assay figures and
intervals rounded to 1 decimal place. 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.
|
"Meridian's results continue to emphasise the very strong
grades, widths and excellent geometry of Cabaçal's Cu-Au-Ag
mineralization and now we are defining an internal high grade gold
zone not mined by BP", commented Dr Adrian
McArthur, CEO and President. "These results again illustrate
that BP Minerals/Rio Tinto, left behind extensive tonnages of the
Cu-Au-Ag +Zn mineralization and also the higher grade Au "hinge"
hosting structures mapped by the BP Geological team. Cabaçal
presents an optimal geometry and mineral distribution well suited
to the large scale open pit geometry that the Company envisages. We
are pushing forward on all fronts, with further assays and the
deepening of CD058 at Cabaçal West expected in the
near-term.
Cabaçal Drilling Campaign
The Company has continued to expand its drilling campaign,
targeting the three principal zones: the Southern, Central, and
Eastern Copper Zones; Figure 1. The Company continues to be
impressed with the strong results from the program, with assays
returning good intervals and grades, and continuing to confirm that
the selective nature of the underground workings has left
significant mineralization behind and outside of the mine's
limits.
Eastern Copper Zone
The ECZ is the shallowest zone with outcropping mineralization
dipping back to the Southwest; it is sparsely drilled. Results have
confirmed thick layers of Cu-Au-Ag +Zinc (Zn) mineralization that
continues up-dip out from the old workings and along strike. CD-045
intercepted a hinge structure hosting high grade gold and returned
3m @ 12.7g/t Au, 0.1% Cu & 2.4g/t
Ag; it trends out from the old workings. Along this hinge structure
to the Northwest hole JUSPD119 intercepted 5.6m @ 7.7g/t Au & 1.1% Cu from 45.2m and to the Southeast hole JUSPD222
intercepted 6.5m @ 59.3g/t Au, 0.6%
Cu and 4.0g/t Ag, and JUSPD025 intersected 5.0m @ 85.3g/t Au, 0.7% Cu and 10.0g/t Ag. The
area between CD045, JUSPD119 and JUSPD025 is sparesly covered by
angled drilling and a high priority area for infill drilling.
Central Copper Zone
The CCZ results included some significant intervals. In cases
the presence of the underground development hindered coring through
the complete mine sequence stratigraphy and holes were terminated
earlier than planned (CD-040). The Company has organized for BQ
drill rods to be dispatched to site to provide additional
flexibility for casing and reducing core to drill through the
underground development.
Southern Copper Zone
The SCZ hosts the deeper richer part of the mine sequence.
Results are in line with expectations, however higher grade zones
are reported below the old workings and several holes will need to
be deepened as they were halted due to excessive rod vibration.
These will be extended by running the BQ rods internally within the
NQ rods.
Hole Id
|
Zone*
|
Intercept
|
Grade
|
From
|
CuEq
|
Cu
|
Au
|
Ag
|
Zn
|
Pb
|
|
|
(m)
|
(%)
|
(%)
|
(g/t)
|
(g/t)
|
(%)
|
(%)
|
(m)
|
|
|
|
|
|
|
|
|
|
|
CD-026
|
SCZ
|
78.1
|
0.6
|
0.4
|
0.3
|
1.2
|
0.1
|
0.0
|
33.1
|
Including
|
|
2.7
|
5.2
|
3.9
|
1.5
|
9.4
|
0.9
|
0.0
|
112.0
|
|
|
|
|
|
|
|
|
|
|
CD-027
|
SCZ
|
8.0
|
0.4
|
0.3
|
0.1
|
0.8
|
0.0
|
0.0
|
47.0
|
|
|
21.3
|
0.7
|
0.3
|
0.6
|
0.9
|
0.0
|
0.0
|
62.8
|
|
|
16.0
|
0.5
|
0.3
|
0.2
|
1.3
|
0.3
|
0.0
|
96.0
|
|
|
|
|
|
|
|
|
|
|
CD-028
|
CCZ
|
60.2
|
0.6
|
0.2
|
0.6
|
0.9
|
0.0
|
0.0
|
17.6
|
Including
|
|
6.0
|
1.6
|
0.1
|
2.4
|
0.5
|
0.0
|
0.0
|
32.0
|
And
|
|
3.5
|
1.6
|
0.2
|
2.3
|
0.3
|
0.0
|
0.0
|
46.0
|
|
|
|
|
|
|
|
|
|
|
CD-029
|
SCZ
|
16.5
|
0.4
|
0.3
|
0.2
|
0.9
|
0.0
|
0.0
|
42.0
|
|
|
71.8
|
1.0
|
0.7
|
0.3
|
3.1
|
0.2
|
0.0
|
65.0
|
Including
|
|
6.9
|
2.4
|
2.0
|
0.5
|
7.6
|
0.2
|
0.0
|
91.7
|
|
|
|
|
|
|
|
|
|
|
CD-030
|
ECZ
|
56.0
|
0.8
|
0.4
|
0.6
|
1.8
|
0.0
|
0.0
|
7.5
|
Including
|
|
21.0
|
1.7
|
0.9
|
1.3
|
4.0
|
0.0
|
0.0
|
41.5
|
|
|
|
|
|
|
|
|
|
|
CD-031
|
SCZ
|
26.5
|
0.4
|
0.3
|
0.1
|
0.6
|
0.0
|
0.0
|
32.1
|
|
|
28.1
|
0.7
|
0.3
|
0.5
|
1.0
|
0.0
|
0.0
|
64.0
|
|
|
17.7
|
1.3
|
0.6
|
0.9
|
2.1
|
0.4
|
0.0
|
110.0
|
|
|
|
|
|
|
|
|
|
|
CD-032
|
SCZ
|
88.0
|
0.4
|
0.3
|
0.1
|
0.9
|
0.0
|
0.0
|
36.0
|
Including
|
|
5.4
|
1.1
|
0.9
|
0.2
|
1.9
|
0.1
|
0.0
|
42.8
|
Including
|
|
8.0
|
1.5
|
1.1
|
0.3
|
3.3
|
0.7
|
0.0
|
115.0
|
|
|
|
|
|
|
|
|
|
|
CD-033
|
CCZ
|
18.0
|
0.3
|
0.2
|
0.0
|
0.6
|
0.0
|
0.0
|
9.0
|
|
|
53.6
|
0.9
|
0.4
|
0.8
|
2.1
|
0.0
|
0.0
|
34.0
|
Including
|
|
11.7
|
2.7
|
1.1
|
2.5
|
7.0
|
0.1
|
0.0
|
57.9
|
|
|
|
|
|
|
|
|
|
|
CD-034
|
ECZ
|
17.8
|
0.9
|
0.6
|
0.5
|
2.3
|
0.1
|
0.0
|
59.3
|
Including
|
|
5.1
|
1.8
|
1.2
|
0.8
|
4.6
|
0.1
|
0.0
|
72.0
|
|
|
|
|
|
|
|
|
|
|
CD-035
|
SCZ
|
19.8
|
0.3
|
0.2
|
0.1
|
0.9
|
0.1
|
0.0
|
35.0
|
|
|
8.4
|
0.5
|
0.3
|
0.2
|
1.2
|
0.0
|
0.0
|
62.9
|
|
|
4.5
|
0.5
|
0.4
|
0.2
|
2.8
|
0.0
|
0.0
|
83.0
|
|
|
|
|
|
|
|
|
|
|
CD-036
|
NWE
|
0.6
|
4.1
|
4.7
|
5.4
|
1.2
|
0.0
|
0.0
|
113.4
|
|
|
2.0
|
0.4
|
0.3
|
0.2
|
0.6
|
0.0
|
0.0
|
120.0
|
|
|
|
|
|
|
|
|
|
|
CD-037
|
ECZ
|
17.0
|
0.9
|
0.6
|
0.4
|
3.2
|
0.1
|
0.0
|
51.0
|
|
|
|
|
|
|
|
|
|
|
CD-038
|
NWE
|
18.1
|
0.7
|
0.4
|
0.6
|
1.6
|
0.0
|
0.0
|
95.9
|
Including
|
|
2.4
|
3.0
|
1.4
|
2.5
|
5.5
|
0.0
|
0.0
|
95.9
|
|
|
|
|
|
|
|
|
|
|
CD-039*
|
SCZ
|
36.2
|
0.4
|
0.2
|
0.8
|
1.6
|
0.0
|
0.0
|
20.0
|
|
|
|
|
|
|
|
|
|
|
CD-040*
|
CCZ
|
33.8
|
0.5
|
0.3
|
0.3
|
0.9
|
0.0
|
0.0
|
11.0
|
Including
|
|
5.3
|
1.1
|
0.6
|
0.7
|
2.6
|
0.1
|
0.0
|
21.9
|
|
|
|
|
|
|
|
|
|
|
CD-041
|
ECZ
|
9.0
|
0.3
|
0.3
|
0.0
|
1.0
|
0.0
|
0.0
|
17.0
|
|
|
6.0
|
0.3
|
0.1
|
0.3
|
0.5
|
0.0
|
0.0
|
31.0
|
|
|
31.4
|
1.2
|
0.7
|
0.5
|
4.5
|
0.4
|
0.0
|
70.0
|
Including
|
|
10.3
|
2.2
|
1.6
|
0.7
|
9.9
|
0.1
|
0.0
|
82.8
|
|
|
|
|
|
|
|
|
|
|
CD-042
|
ECZ
|
18.6
|
0.3
|
0.2
|
0.1
|
0.5
|
0.0
|
0.0
|
0.6
|
|
|
5.4
|
0.5
|
0.4
|
0.1
|
1.5
|
0.1
|
0.0
|
29.0
|
|
|
|
|
|
|
|
|
|
|
CD-043
|
ECZ
|
51.2
|
0.3
|
0.2
|
0.1
|
0.7
|
0.0
|
0.0
|
6.0
|
|
|
|
|
|
|
|
|
|
|
CD-044
|
ECZ
|
27.6
|
0.3
|
0.2
|
0.1
|
0.7
|
0.0
|
0.0
|
28.0
|
|
|
|
|
|
|
|
|
|
|
CD-045
|
ECZ
|
37.2
|
1.0
|
0.4
|
1.1
|
1.4
|
0.0
|
0.0
|
1.4
|
Including
|
|
3.0
|
7.7
|
0.1
|
12.7
|
2.4
|
0.0
|
0.0
|
6.0
|
|
|
6.5
|
0.9
|
0.6
|
0.2
|
2.1
|
0.2
|
0.0
|
62.0
|
|
|
1.3
|
2.5
|
1.8
|
0.5
|
6.3
|
1.2
|
0.0
|
77.7
|
|
|
|
|
|
|
|
|
|
|
Drill
Details
|
|
|
Hole
Id
|
Dip
|
Azimuth
|
EOH
|
|
|
|
|
|
|
CD-026
|
-90
|
315
|
136.65
|
|
|
|
|
|
|
CD-027
|
-90
|
0
|
141.61
|
|
|
|
|
|
|
CD-028
|
-90
|
0
|
98.20
|
|
|
|
|
|
|
CD-029
|
-90
|
0
|
154.45
|
|
|
|
|
|
|
CD-030
|
-85
|
45
|
89.85
|
|
|
|
|
|
|
CD-031
|
-89
|
45
|
145.19
|
|
|
|
|
|
|
CD-032
|
-90
|
0
|
140.59
|
|
|
|
|
|
|
CD-033
|
-90
|
0
|
101.68
|
|
|
|
|
|
|
CD-034
|
-90
|
0
|
91.21
|
|
|
|
|
|
|
CD-035
|
--89
|
70
|
112.38
|
|
|
|
|
|
|
CD-036
|
-60
|
60
|
154.60
|
|
|
|
|
|
|
CD-037
|
-60
|
45
|
110.87
|
|
|
|
|
|
|
CD-038
|
-60
|
60
|
146.32
|
|
|
|
|
|
|
CD-039
|
-90
|
0
|
59.87
|
|
|
|
|
|
|
CD-040
|
-90
|
0
|
56.88
|
|
|
|
|
|
|
CD-041
|
-89
|
238
|
115.43
|
|
|
|
|
|
|
CD-042
|
-60
|
45
|
85.44
|
|
|
|
|
|
|
CD-043
|
-60
|
45
|
100.61
|
|
|
|
|
|
|
CD-044
|
-60
|
45
|
74.17
|
|
|
|
|
|
|
CD-045
|
-50
|
45
|
102.57
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Table 1 Highlighted assay results for CD-026 through to
CD-046.
* Holes marked with an asterix to be extended with BQ
rods
The mineralization reported today is a consistent copper
dominant sulphide assemblage, present as disseminated, stringer,
brecciated zones with locally some semi-massive sulphides.
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)
Stay up to date by subscribing for news alerts here:
https://meridianmining.co/subscribe/
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 then reduced to NQ – mineralized intervals represent
half HQ or 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). 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. True widths are interpreted to be ~90% of
intersection widths. Calculation of composites assigns zero width
and zero grade to mining voids intersected in the following
intervals CD-026 (76.2 - 83.5m),
CD-027 (70.1 - 76.1m), CD-028 (58.2 -
63.4m), CD-029 (81.4 - 95.8), CD-031
(78.6 - 78.9; 83.5 - 84.3m), CD-032
(71.8 - 76.2, 79.8 - 82.5), CD-033 (59.4 -61.8), CD-035 (54.8 -
62.9m), CD-039 (56.2 – 59.9m), CD-040 (27.7 – 34.5), CD-041 (55.5 -
59.8m). The following holes
terminated without traversing the full mineralized package: CD-039,
CD-040.
Samples for Cabaçal drill programs were historically analysed
for gold by 50g Fire Assay with AAS finish, copper
three acid digest and AA
finish, and silver by Aqua
Regia by AA finish at BP
Mineral's laboratory at Bonsucesso (Rio de Janeiro, Brazil), Samples were
prepared at Caxias and the mine site itself. Half–core was dried,
crushed to a quarter inch size through a jaw crusher, pulverised to
150 mesh in a ring mill, passed through a Jones Splitter to produce
a 100–200g split, with one sample archived for reference and the
other dispatched for analysis. BP Mineral's quality control program
included duplicate analyses, and periodic checks using independent
laboratories.
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.