Intersects 94.0m @ 0.7% CuE from 8.0m and 22.5m @ 0.7% CuEq from 119.2m
Meridian Mining UK S (TSXV: MNO) has received report further assays from its ongoing 10,000m drill program at its Cabaçal Copper-Gold camp-scale VMS project in Mato Grosso, Brazil.
Multiple zones of significant and extensive Copper (Cu), Gold (Au) and Silver (Ag) mineralisation starting at 8.0m, have been returned from the Diamond Drill Holes (DDH): CD-010 to CD-013 within and extending out from the Cabaçal Mine.
CD-012 has confirmed high-grade Cu-Au-Ag mineralisation remains above and below the old workings2 a result that the Company considers will be replicated throughout the mine; further assays are pending. Meridian is also reporting that its modern, deep penetrating Electromagnetic (EM) equipment is in Brazil and will be onsite shortly.
Meridian’s geophysics team is ready to start IP and EM surveys over its high priority VTEM targets: Cabaçal West and Cabaçal South which will then be tested by drilling. With over CAD 5.0M in the Bank and via further capital inflows from Warrants being exercised, the Company is well funded to continue delivering results.
Highlight results:
- CD-013 assays 116.5m @ 0.7% CuEq of cumulative Cu-Au-Ag mineralisation from 8.0m; including: 94.0m @ 0.7% CuEq from 8.0m; including: 8.5m @ 1.9% CuEq from 54.5m; 22.5m @ 0.7% CuEq from 110.5m; including 5.6m @ 1.6% CuEq from 119.2m ;
- CD-012 assays 37.9m @ 0.7% CuEq from 59.8m, including: 15.2m @ 1.3% CuEq from 82.5m above the 4m mining void,and o 2.0m @ 6.7% CuEq from 101.6m, below the void;
- CD-010 intercepted multiple zones of shallow Cu-Au-Ag mineralisation starting 12.7m: including: 9.4m @ 0.2% CuEq from 12.7m; 11.0m @ 1.1% CuEq from 25.9m; 10.3m @ 0.8% CuEq from 47.9m, 11.1m @ 0.6% CuEq from 65.0m
- CD-011 targeting a low grade zone returned; o 7m @ 0.3% CuEq from 11m; and 20.2m @ 0.5% CuEq from 46.3m.
“Today’s drill results continue to reinforce the strength of the very large Copper and Gold system at Cabaçal.” commented Dr Adrian McArthur, CEO and President.
“Cabaçal’s mineralisation starts at surface and the stacked lenses can at times, coalesce as seen in CD-013’s cumulative 116.5m @ 0.7% CuEq. We started Cabaçal’s resource development program based on the extensive Cu-Au mineralisation defined by BP Minerals and Rio Tinto in the 80’s and 90’s.
“Today, we are launching the exciting next stage, where the most modern IP & EM equipment will start surveying Cabaçal including the 1,800m long Cabaçal West VTEM conductor and the 1,000m south-east extension to the ECZ.
“Once we have refined our geophysical targets, with first results expected in late June early July, we can start drilling Cabaçal West and Cabaçal South, targeting the potential massive sulphide pile of the Cabaçal mine. Being well financed having $5.0M in cash-on-hand and more coming with the Warrant conversions, Meridian is on target for an exciting June and 3rd and 4th Quarter 2020 news flow.
For further information please visit: https://meridianmining.co/
