Meridian Mining
CD-264 has intersected a high-grade zone of 12.6m @ 15.5g/t AuEq (15.3g/t Au, 0.2% Cu & 0.6g/t Ag) from 43.3m, representing a northern extension of similar high-grade results (CD-049, CD-072[1]). This and additional results in the mine area show the potential to better define the projection of higher grade trends across the deposit. In parallel with the resource development program, the Company is advancing with exploration of near-mine extensions, with a copper gossan identified at surface, located 350m southeast of CD-240's copper feeder zone. Drilling has also confirmed the mineralized position of the VMS horizon in a 1km step-out to the southeast of the Cabacal mine.
Highlights Reported Today
Cabacal Northwest Extension returns more high-grade gold intersections;
CD-264 returns 12.6m @ 15.5g/t AuEq (15.3g/t Au, 0.2% Cu & 0.6g/t Ag) from 43.3m; New results consolidate domain of high-grade mineralization extending over 175m; 1km step-out along the Cabacal trend intersects a base metal horizon correlative with the Cabacal system; CD-255 drill hole adds context for further exploration for VMS sulphide mounds; Arrival of Geonics down-hole probe to assist in targeting thicker Cu-Zn-Ag-Au zones; Preparations advance for mobilization of new
Dr.
Cabacal Resource and Extensions
The drilling program at Cabacal continues to follow recommendations arising from the PEA. The resource definition program aims to achieve better definition of the higher grade trends within the broader mineralized halo. The projection of the high-grade trend at shallowing depths in CD-264 returning 12.6m @ 15.5g/t AuEq from 43.3m is encouraging. Further drilling is being scheduled to test for the projection of the trend within the broader footprint of Cu-Au mineralization, both to the northwest and southeast where the drill spacing is currently more open.
Additional drilling has been conducted in the
Exploratory evaluation of the extensions of the Cabacal system continues. CD-255 was a 1km step-out along the Cabacal trend. It intersected a base metal horizon interpreted to be correlative with the Cabacal system (5.3% Zn, 0.1% Cu, 0.2g/t Au & 32.4g/t Ag over 0.3m from 119.9m). The drill hole adds useful context for further planning of exploration for VMS sulphide mounds over time. The Company awaits the arrival of a down-hole probe from Geonics to assist in targeting thicker Cu-Zn-Ag-Au sulphide accumulations, which are less conductive than the copper dominant end member.
Recent prospecting by the geological team has also located some copper gossan at the south-west flank of the resource area. Drilling in this area is sparse, with wide-spaced historical BP holes not sampled systematically from surface. The gossan is located 350m southeast of CD-240's copper feeder zone, possibly in an up-dip position to the Cabacal South FLTEM conductivity anomaly[3], where the Company has drilled just one hole. Following recognition of the gossan, trenching will be undertaken to guide further drilling and evaluate possible links to the feeder system.
Cabacal is a gold-copper-silver rich VMS deposit with the potential to be a standalone mine within the 50km VMS belt. Cabacal's base and precious metal-rich mineralization is hosted by volcanogenic type, massive, semi-massive, stringer, and disseminated sulphides within deformed metavolcanic-sedimentary rocks. A later-stage sub-vertical gold overprint event has emplaced high-grade gold mineralization cross-cutting the dipping VMS layers.
The Cabacal Mineral Resource estimate consists of Indicated resources of 52.9 million tonnes at 0.6g/t gold, 0.3% copper and 1.4g/t silver and Inferred resources of 10.3 million tonnes at 0.7g/t gold, 0.2% copper & 1.1g/t silver (at a 0.3 g/t gold equivalent cut-off grade), including a higher-grade near-surface zone supporting a starter pit.
The Preliminary Economic Assessment technical report (the 'PEA Technical Report') dated
Readers are encouraged to read the PEA Technical Report in its entirety. The PEA Technical Report may be found on the Company's website at www.meridianminig.co and under the Company's profile on SEDAR at www.sedar.com.
The qualified persons for the PEA Technical Report are:
Contact:
Dr.
Tel: +1 (778) 715-6410 (PST)
Email: info@meridianmining.net.br
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