Three Rigs Now In The Field In Brazil
Meridian Mining (TSXV: MNO) has received promising first assay results from its Cabaçal Copper-Gold camp scale VMS project in Brazil.
The new high-grade results reported are from the first four holes of its ongoing 10,000m programme.
The holes targeted the high-grade zones of unmined mineralisation adjacent to the historical Cabaçal underground mine and are open to the south-east and targeted for follow up drilling. These initial results are the first steps in the re-emergence of the Cabaçal Copper-Gold-Camp by Meridian.
Drilling highlights from Southern Copper Zone (SCZ):
- CD-004 returned 15.9m @ 4.0% CuEq1 from 148.55m (3.3% Cu, 0.7g/t Au, 15.7g/t Ag & 0.6% Zn), including a higher-grade zone of:
- 10.2m @ 5.9% CuEq from 151.97m (4.9% Cu, 1.0g/t Au, 23.9g/t Ag & 0.7% Zn)
- CD-003 returned 48.6m @ 1.4% CuEq from 120.00m (0.7% Cu, 1.0g/t Au, 2.0g/t Ag & 0.3% Zn), including a higher-grade zone of:
- 17.2m @ 3.2% CuEq from 151.40m (1.5% Cu, 2.5g/t Au, 4.7g/t Ag, & 0.4% Zn)
- CD-001 returned 23.7m @ 0.8% CuEq from 128.00m (0.6% Cu, 0.3g/t Au, 0.7g/t Ag, 0.1% Zn), including a higher-grade zone of:
- 11.4m @ 1.2% CuEq from 140.26m (0.9% Cu, 0.4g/t Au, 1.2g/t Ag, & 0.2% Zn)
Drilling Highlights from Eastern Copper Zone (ECZ):
CD-002 returned 22.7m @ 0.8% CuEq from 39.70m (0.5% Cu, 0.4g/t Au, 0.7g/t Ag & 0.1% Zn) including a higher-grade zone of:
o 2.7m @ 2.8% CuEq from 59.74 (1.6% Cu, 1.7 g/t Au, 5.3g/t Ag & 0.4% Zn)
“Today’s drill results have launched the re-emergence of Cabaçal as a significant camp scale VMS Copper-Gold project,” CEO and President, Dr Adrian McArthur, said.
“Our results, showing zones of high-grade Copper-Gold mineralisation within a broad package of discrete layers of Copper-dominant sulphides, that closely replicates the geological model.
“These stacked shallow dipping mineralised lenses reported today re-confirm Cabaçal’s ideal geometry for potential open pit development.
“The programme of drilling around the Cabaçal mine is expanding rapidly with the third rig arriving on site shortly, and with more results pending.
“Today, with multiple rigs turning, open mineralization, and an initial focus on the 11km mine corridor belt with multiple EM conductors to test, Meridian has entered an exciting time of discovery and growth.”
Ongoing Exploration and Resource delineation Programs.
Drilling is continuing across the three Copper-Gold zones, with a combination of twin and infill drilling along these open trends. The third rig has arrived and will be testing a combination of the up-dip extensions, and shortly additional bedrock conductors.
The company will soon have on site its modern surface and downhole Electromagnetic (“EM”) survey tools where their priority focus will be the Cabaçal West late channel bedrock conductors. Once it is surfaced surveyed, the Cabaçal West conductors will be gridded with focused diamond drilling, as the company sees potential for this target area to host the Cabaçal mine’s (VMS) massive sulphide pile.
The company has also recovered more BP Minerals historical drill data from surface and underground diamond drill holes, and it will now start the process of incorporating this into the Cabaçal database. Fieldwork is also evaluating the shallow-up dip projection of the Cabaçal mine’s mineralised trend which received historically little evaluation given the focus on the underground operations.
