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First soil survey defines major new
outcropping copper prospects 3km Southeast of Cabaçal Copper-Gold
mine
LONDON, Nov. 1, 2021 /CNW/ - Meridian Mining UK S
(TSXV: MNO) (Frankfurt-Tradegate: 2MM) (OTCQB: MRRDF) ("Meridian"
or the "Company") is pleased to provide an update on its "Mine
Corridor" soil sampling and mapping programs, at its Cabaçal
Copper-Gold project ("Cabaçal") in Mato
Grosso, Brazil. Two major untested surface Copper prospects
have been confirmed at the C2A target, 3km South-southeast of the
Cabaçal mine. Outcropping, fresh-rock mafic units with surface
Copper ("Cu") sulphide mineralisation (chalcopyrite) have been
mapped, grading up to 0.4% Cu ("Photo 1"). Gold assays from soils
program are pending. Large flanking Zinc ("Zn") in soil anomalies
have also been returned, confirming polymetallic potential of the
Cabaçal project. Additional results from Cabaçal's regional soil
survey and rock chip program are pending.
Highlights of today's update:
- Meridian maps new surface VMS units hosting fresh chalcopyrite
3km South-southeast of Cabaçal mine;
-
- Peak rock chip values of 0.4% Cu (CBRO00027); 0.4% Zn
(CBRO00007);
- Fresh rock with Copper sulphides at surface;
- Meridian's soils surveys confirm strike extensive
Copper-polymetallic prospects;
-
- Copper in soil anomalies extending up to 1.5km in strike
length;
- Flanking zinc anomalies
- Peak soil values of 0.1% Cu (LTC2A0015086); 906 ppm Zn
(LTC2A0015018);
- Target corridors coincident with historical geophysical
anomalies;
-
- Follow-up fixed-loop electromagnetic survey in progress;
- Meridian is continuing to confirm the camp-scale upside
to its Cabaçal Cu-Au VMS project; and
- Cabaçal Cu-Au Mine Corridor confirmed as highly prospective
with expanded programs on multiple targets planned.
"These exciting new results including fresh chalcopyrite at
surface, are highlighting new target areas along the 11km Mine
Corridor, between the Cabaçal and St
Helena mines", commented Dr Adrian
McArthur, CEO and President. "The presence of historical
geophysical anomalies extending down-dip and along strike from
these strong geochemical responses adds further context to
Cabaçal's defined but untested exploration upside, that starts "at
surface" (a near surface upside that was once typically found in
the world's VMS camps, but most of which are now exhausted or in
decline). Our in-house team has initiated a program with our modern
electromagnetic survey equipment to focus ongoing exploration
efforts and build multiple drill targets in this exciting new area.
These targets highlight the wealth of opportunities and upside of
Cabaçal's camp-scale Copper-Gold Project, consistent with our
expectation that significant targets remain to be tested and
discovered over the greater 36km's of prospective VMS
stratigraphy."
Soil Survey Program: C2A Target Area
A broad area of interest termed "C2A" was first established by
BP Minerals ("BP") from its historical gold focused exploration in
the 1980's. C2A is centred approximately 3km SSW of the Cabaçal
Mine. BP conducted a program of mapping and soil sampling detecting
anomalies with variable Cu, Cu-Au, Zn-Cu-Pb values; Ag was not
assayed for (Areas 1 - 4, Figure 1). Local surface geophysics
identified conductivity and chargeability anomalies. The C2A area
was never targeted by historical drilling campaigns.
Meridian has conducted initial exploration programs of infill
and extensional soil surveys complemented by reconnaissance mapping
and rock chip sampling. The ongoing activity includes a trenching
and fixed-loop geophysical surveys with the Company's in-house
team. Results from the trenching program are pending.
Results – Soil and rock-chip sampling program
An initial geological reconnaissance program has confirmed a
1.5km long copper prospect: "Area 1" within the C2A target
("C2A-1"). Peak rock chip results were 0.4% Cu, 0.2% Zn (CBRO00027)
and 0.4% Zn – 855 ppm Cu (CBRO00007). Chalcopyrite-pyrite –bearing
mafic rocks have been located at surface and are associated with
gossanous quartz veins, indicating a hydrothermal overprint (the
Cabaçal Copper-Gold VMS system has a stringer-disseminated
stratigraphy cut by a later stage veining event containing the
recent high-grade Au results). The rock chip samples including
those with surface chalcopyrite present are highly encouraging in
an area with limited exposure. Historical maps show a chargeability
anomaly close to the CBRO00007 sample site, and a NNE-SSW alignment
of conductivity responses from historical surveys along strike from
the CBRO00027 sample site. Detailed data from these geophysical
surveys are no longer available, and the trend will be covered
using Meridian's modern electromagnetic survey equipment.
Reconnaissance mapping in Area 4 within the C2A target region
identified samples of chloritized schists and breccias, associated
with a higher-amplitude Copper in soil response extending over two
200m spaced lines with a peak value
of 0.10% Cu. An offset corridor of EM conductivity peaks in a
Northwest-southeast orientation, is seen 550 – 800m Southwest and downdip of Area 4. A modern
surface EM survey will be completed over this area targeting a
likely zone down-dip from the Copper-anomalous horizon.
This sampling program covered a 2.8 km gap in the BP soil
coverage. Samples extending into the Southwest quadrant of the
corridor show a Zinc anomaly approximately 1000m along strike from the "Succuri" VTEM
conductor, peaking at 906 ppm Zn.
Rock chip prospecting work and geophysical surveys will extend
into additional targeting areas priorities through reviews of BP's
soil data and geophysical anomaly maps, including:
- C2A - Area 3: A 400m corridor
characterized by a >200ppm Zn in soil response. The soil anomaly
has coincident historical surface conductivity anomalies, and
flanking conductivity and chargeability responses to the immediate
Southwest.
- C2A - Area 2: A 700m corridor of
>200ppm Zn / >200ppm Pb in soil response. This significant
geochemical target has flanking conductivity responses to the
immediate Northwest.
The C2A prospect will be systematically covered by surface
electromagnetic surveys and then scheduled for a regional test
drill program in the year ahead following the definition work at
Cabaçal and its immediate extensions.
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
Soil samples have been analysed by Meridian by Reflex
portable XRF, in a program which involved use of analytical
standards, blanks and duplicates. Samples are collected from the B
horizon and screened to separate the fine fraction. 10% of
samples are submitted to SGS for verification of base metal
analysis. Results are monitored to ensure anomalies plot in a
correct order of magnitude. Lines are extended over prior BP
minerals soil sample sites and show that the position and
threshold or the response is appropriate for outlining anomalies.
Rock chip samples have been analysed at SGS through method ICP40B
for base metals, Silver is repeated with method AAS12E, and gold is
analysed through fire assay of a 50 g charge by method FAA505.
Standards, blanks, and duplicates accompany the rock chip sampling
program.
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 UK Societas