BHEM has modelled conductive plates as down-dip extensions of high-grade Cu-Au-Ag & Zn mineralization recently reported by the Company. This includes a 175m projection of CD-359's higher-grade core that assayed 9.4m @ 1.9g/t AuEq from 13.0m1 . This plate projects past the modelled limits of
Highlights Reported Today
Meridian expands
Multiple BHEM plates coincident with the projection of new high-grade intersections at Santa Helena; Geophysical survey projects mineralization outside of Exploration Target's upside limits and Surface geophysical program progressing eastward; targeting to connect with Alamo trend.
Merdian is integrating its recent and historical drill results of
Mr.
Santa Helena Update
The Santa Helena Cu-Au-Ag & Zn VMS deposit, located 9km to the southeast of the
CD-329: 6.8m @ 7.4g/t AuEq from 38.7m; CD-332: 5.8m @ 6.8g/t AuEq from 32.2m; CD-335: 7.2m @ 6.0g/t AuEq from 35.5m; CD-360: 16.4m @ 0.9g/t AuEq from 6.0m & 11.0m @ 5.2g/t AuEq from 30.0m; CD-416: 13.2m @ 2.1g/t AuEq from 11.0m & 16.6m @ 2.1g/t AuEq from 41.4m; CD-411: 22.5m @ 1.9g/t AuEq from 11.0m and CD-378: 5.9m @ 5.5g/t AuEq from 38.3m.
Meridian's first phase of surface geophysics focused on Electromagnetic ('FLTEM') and Induced Polarization ('IP') surveys, which revealed a broader than expected chargeability response over the Santa Helena deposit, and with conductive FLTEM plates dipping northwards from the deposit4. Progression of the IP grid has defined a 2km eastern extension of the chargeability trend5. The Company focused initially on verification drilling, and subsequently on testing the shallow up-dip and strike extensions of the deposit. The results have achieved and exceeded expectations: firstly, confirming the significant high-grade Cu-Au-Ag & Zn VMS mineralization in the mine area, and then confirming extensions beyond the limits of the historical resource, in areas previously not drill tested. The recent drilling combined with BHEM now shows that intersections have associated conductive plates indicative of sulphide mineralization.
Recent down-hole survey platforms have tested the western and southern margins of the deposit, resolving a number of conductors of near-mine exploration significance.
The conductive response at the western margin of the deposit is marked by an interpreted plate of 175 x 100m extent, with a conductivity of 10
Additional survey platforms on the southern flank of the deposit show conductors in the CD-360 - CD-416 area, again associated with strong intersections. Modelled plates are 15 to 30m in strike and dip, with a conductivity of 5 to 30
In addition to the planned near-mine BHEM and Mise-a-la-Masse surveys making use of new drill platforms, our geophysical survey team will expand the surface FLTEM and gravity surveys to refine targets in the open eastern extensions to the mineral system over Alamo.
About Meridian
Meridian Mining
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 gold overprint event has emplaced high-grade gold mineralization.
The Preliminary Economic Assessment technical report (the 'PEA Technical Report') dated
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.
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.meridianmining.co and under the Company's profile on SEDAR+ at www.sedarplus.ca.
The qualified persons for the PEA Technical Report are:
Contact:
Mr.
CEO and Director
Meridian Mining
Tel: +1 778 715-6410
Email: info@meridianmining.co
Technical Notes
Samples have been analysed at the accredited ALS laboratory in
Recoveries based on 2022 metallurgical testwork on core submitted to SGS Lakefield
Gold equivalents for
Electromagnetic surveys have been conducted using the SMARTem Geophysical Receiver System manufactured by ElectroMagnetic Imaging Technology (EMIT). Induced polarization surveys have been conducted by the Company's in-house team utilizing its GDD GRx8-16c receiver and 5000W-2400-15A transmitter. Results are sent daily for processing and quality control to the Company's consultancy, Core Geophysics. Modelling of conductivity response is undertaken using industry-standard Maxwell software. Geophysical and geochemical exploration targets are preliminary in nature and not conclusive evidence of the likelihood of a mineral deposit.
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 address future events and conditions and so involve inherent risks and uncertainties, as disclosed under the heading 'Risk Factors' in Meridian's most recent Annual Information Form filed on www.sedar.com. While these factors and assumptions are considered reasonable by Meridian, in light of management's experience and perception of current conditions and expected developments, Meridian can give no assurance that such expectations will prove to be correct. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, Meridian disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events, or results or otherwise.
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