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Meridian Reports Further Significant High Grade Gold along at Cabaçal Northwest Extension

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Meridian Reports Further Significant High Grade Gold along at Cabaçal Northwest Extension

 

 

 

 

 

 

CD-054 assays 16.5m @ 7.2 g/t Au, 1.0% Cu, 4.1g/t Ag from 45.1m

 

Meridian Mining UK S (TSX-V: MNO) (Frankfurt: 2MM) (OTCQB: MRRDF) is pleased to report further significant high grade gold mineralization from the Cabaçal Northwest Extension as part of its maiden ongoing drill-program. The CNWE is part of the Cabaçal Copper-Gold Project in Mato Grosso, Brazil

 

Within the CNWE, 410m to the Southeast of CD-049[1] (which intercepted 26.7m @ 21.5g/t Au), CD-054 has drilled a high-grade gold structure that returned 16.5m @ 7.2 g/t Au from 45.1m (Figure 1), part of a broader intersection of 54.4m @ 2.6g/t Au, 0.4% Cu, 1.7g/t Ag from 44.6m. CD-054 is an infill angled hole within the CNWE, located 200m from the Northwest limits of the Cabaçal Mine. Further drill results for the CNWE are pending and an expansion to the angled drill program along and beyond the CNWE is underway.

 

In addition, the Company today reports results from a preliminary inspection of CD-065, a 550m Southeast step-out from the Cabaçal Mine. A sulphide assemblage was intersected from 94.0m to 134.0m that included visual gold; XRF analysis[2] confirms that a prospective sulphide assemblage is present.

 

Highlights of today’s update:

 

  • Meridian CD-054’s assays significant gold mineralization of 16.5m @ 7.2 g/t Au at Cabaçal Northwest Extension;
  • Meridian reports CD-054, returns 54.4m @ 2.6g/t Au, 0.4% Cu & 1.7g/t Ag from 44.6m;
  • Peak assays include 102.6 g/t Au over 0.45m from 50.85m (Sample CBDS06272), and 70.7 g/t Au over 0.45m from 49.2m (CBDS06270);
  • Cabaçal’s 1,300m Copper-Gold-Silver trend confirmed – remains open;
  • Multiple sub-vertical high grade gold structures intercepted within broad copper-gold-silver mineralization; and
  • CD-065 intersects sulphide mineralization with visible gold 500m Southeast of Cabaçal.

 

“With CD-054’s result and last weeks drill results, the CNWE trend joins with the Cabaçal mine area to form an open 1,300m trend that has unlocked huge potential for an open pit development scenario”, commented Dr Adrian McArthur, CEO and President. Its high-grade core of 16.5m @ 7.2 g/t Au from 45.1m lies within a broader mineralized package of 54.4m @ 2.6g/t Au, 0.4% Cu & 1.7g/t Ag from 44.6m”. This is very similar to CD-049’s high grade gold core within a broad copper-gold-silver host, and similar to the high-grade structures exploited by BP Minerals (“BP”) and Rio Tinto at the Cabaçal Mine within the broad VMS copper-gold envelope. Southeast of the mine the sulphides and visible gold from CD-065 is a great surprise and will be followed up. The program now is to drill out the CNWE and more results will be coming in the weeks ahead”.

 

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1 See Meridian news release dated September 7, 2021

 

Cabaçal Northwest Extension

 

The CNWE is a 750m high-grade gold trend hosted within Cabaçal’s now 1,300m VMS type Cu-Au-Ag mineralization, extending out from the Cabaçal mine. It is defined by an open Northwest trending gold soil anomaly and sparsely covered by BP’s historical drilling. BP’s drill holes were predominantly vertical and poorly suited to intersect the subvertical high-grade gold and Northwest trending structures mapped in the Cabaçal mine. CD-049 recently intersected multiple high-grade gold structures, more of these Northwest trending structures may be present to the Northeast and Southwest of CD-049.

 

CD-054 has now similarly intersected broad Cu-Au-Ag mineralization characteristic of the mine’s Cu-Au-Ag +Zn stratigraphy, returning 54.4m @ 2.6g/t Au, 0.4% Cu, 1.7g/t Ag from 44.6m (Table 1). Within this, there is a higher grade Au zone of returning 16.5m @ 7.2 g/t Au from 45.1m. An angled infill drill program is planned for all of the CNWE to cover the open high-grade gold results of CD-049, CD-046[3] and beyond. The CNWE is up-dip to the Cabaçal West target currently being tested.

 

Cabaçal Southeast Extension

 

The Company stepped-out the drilling South-eastwards of the Cabaçal mine with CD-065, targeting an area where historical drilling indicated the presence of sulphide mineralization. Hole CD-065 is located 500m southeast of the Cabaçal mine. From 94.0m to 134.0m CD-065 intersected disseminated and locally stringer sulphide mineralization (pyrite-pyrrhotite-chalcopyrite) with visible gold at 132.0m (Figure 2). A Cabaçal type mineral assemblage was indicated by portable XRF2. The extent of the gold mineralization requires confirmation by assay, but the Company is encouraged to see the footprint of the Cabaçal system extending a significant distance to the Southeast.

 

 

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2 Portable XRF readings are point-source readings, with width and grade to be confirmed by sample preparation and analysis at a certified laboratory.
3  See Meridian news release dated September 2nd, 2021.
Hole Id Zone* Intercept Grade From
Cu Au Ag Zn Pb
(m) (%) (g/t) (g/t) (%) (%) (m)
CD-054 CNWE 11.4 0.2 0.4 0.7 0.0 0.0 8.0
7.9 0.2 0.2 0.9 0.0 0.0 23.4
54.4 0.4 2.6 1.7 0.0 0.0 44.6
Including 16.5 1.0 7.2 4.1 0.0 0.0 45.1
Including 6.5 1.5 16.6 5.8 0.0 0.0 45.1
1.2 2.8 4.8 14.0 0.0 0.0 55.9
and 10.3 0.3 1.7 0.7 0.0 0.0 79.7
Including 1.3 1.7 5.7 4.3 0.0 0.0 79.7
1.3 0.2 3.6 0.6 0.0 0.0 82.7
2.0 0.1 2.1 0.1 0.0 0.0 88.0
15.8 0.2 0.1 1.2 0.0 0.0 113.3
Drill Details
Hole Id Dip Azimuth EOH
CD-054 -50 060 186.6
CD-065 -50 045 In
progress
Table 1: Assay results from CD-054

 

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.

 

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.

 

Figure 1, Top: Plan view of Cabaçal, Middle cross-section A-A’ showing high grade gold structures intercepted by CD-054 angled hole, missed by adjoining “vertical” BP drilling, Bottom Left CD-054 mineral zones and Bottom Right: close up of gold assays (left) with Cu-Ag-Zn assays (right). (CNW Group/Meridian Mining S.E.)

 

 


Figure 2.CD-065’s visible gold grain, circled (left), associated with steeply dipping structure. Right is a magnified view of the visible gold from CD-065. (CNW Group/Meridian Mining S.E.)

 

Posted September 13, 2021

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