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Environmental permits granted and drill rigs
to start turning next week
LONDON, March 4, 2021 /CNW/ - Meridian Mining UK S
(TSXV: MNO) ("Meridian" or the "Company") today announces the
granting of the key environmental permit "Licença de Operação
Provisória para Mineração ("LOPM"), required for commencing
exploration activities at its Cabaçal VMS Copper-Gold project
("Cabaçal" or the "Project"). The LOPM allows the Company to now
roll out its first diamond drilling and geophysical campaigns in
the coming week. The rapid advancement of the Cabaçal field program
continues to be managed by Meridian's in-country management team
and conducted under strict Covid-19 safety protocols.
Highlights of the LOPM being granted are:
- Two diamond drill rigs contracted from Willemita Sondagens
Ltda. are now mobilising to site to start the 10,000m drill program;
-
- First focus is on historical high-grade Copper-Gold southern
zone
- First core on surface by next week
- First assays expected late April
- Confirmation of BP/Rio Tinto's historical 600 diamond drill
hole database is commencing;
- Geomag S/A Prospecções Geofísicas, a company of the Wellfield
Services Group, has been contracted to provide geophysical
services. The survey team is now mobilising to-site, to conduct
surface and down-hole electromagnetic ("EM") surveys;
-
- First EM surveys to commence next week
- Field team expanded to support site preparatory work, including
precision survey location of historical drill holes, preparation of
logging and sampling facilities, and near mine reconnaissance.
- Processing of drone-based aerial surveys advancing to produce
high-quality orthophotography and topographic data over the
historical Cabaçal Mine and Mine Corridor targets.
The majority of Meridian's first Cabaçal drill program will be
focused on infill, extensional, and verification ("twin") drilling
associated with the Cabaçal mine where VMS hosted Copper-Gold
(+Silver-Zinc-Lead) mineralization was historically defined by over
400 surface and underground DDHs, completed in the 1980's – 1990's
by BP Minerals that returned intervals such as1:
- DDH 482: 15.0 m @ 5.5% Cu,
1.31 g/t Au, 24.72 g/t Ag and 1.20% Zn
- CAIK 211: 29.3 m @ 6.0% Cu,
3.10 g/t Au, 28.80 g/t Ag and 0.70% Zn
- DDH 596: 13.4 m @ 5.2% Cu,
2.66 g/t Au, 9.54 g/t Ag and 0.49% Zn
The Cabaçal mine was previously operated as a selective shallow
underground Gold (& copper) mine by BP Minerals and later by
Rio Tinto, using a high grade gold only cut-off grade of 3.0 g/t
Au. Leaving behind, extensive near surface shallow dipping stacked
sheets of thick Copper-Gold (+Silver-Zinc-Lead) mineralization in
the central zone of the deposit, and along with the extensions of
high-grade trends beyond the mine's limits is now the focus of this
inaugural exploration program.
A proportion of the drilling and trenching program will be
allocated to test regional geological-geochemical targets defined
by BP Minerals and geophysical targets defined by the more recent
VTEM survey. The Company has contracted with Geomag S/A Prospecções
Geofísicas, to conduct a 75 line kilometre fixed loop surface EM
orientation survey over the mine and near-mine environment, and
bottom-hole EM surveys ("BHEM") on initial 2021 diamond holes. A
series of historical collars will be tested to confirm if they
remain open for additional surveys.
Meridian geological team continued to conduct preparatory work
on site, preparing facilities for logging and storage of core, and
systematically reviewing historical drill sites to facilitate
location of collars with modern survey control. Survey work is
being supported by Geosan Geotecnologia Ltda - a specialist
topography consultancy that has also been executing drone-based
aerial surveys, with one high-resolution flight concluded over the
historical Cabaçal mine area and its immediate extensions, and a
second flight covering more regional targets and potential future
infrastructure sites in to support of project studies.
Dr Adrian McArthur, CEO, states,
"the Company is focussed on unlocking the potential of an advanced
camp scale VMS Copper-Gold project opportunity with its forthcoming
drilling program. The Company welcomes the partnership
with Willemita and Geomag - Wellfield and looks forward to
announcing the future results of the 10,000 metre
infill-extensional drill and trenching program. The work will be an
important step towards the geostatistical checks on Cabaçal's
extensive database of historical diamond holes executed by BP
Minerals, which supported the design of underground mining
operations by BP Minerals and subsequently Rio Tinto. The Company's
focus this year is to bring Cabaçal's extensive historical database
into compliance with NI43-101 reporting standards and commence
exploration on the promising satellite targets for Copper-Gold and
other base metal and silver mineralization across this VMS camp.
Our Brazilian management team continues to engage with local
stakeholders to support its programs and government agencies in the
State of Mato Grosso as we move
towards the initiation of programs. The Company appreciates the
efforts of the state environmental agency, SEMA, in processing this
licence promptly during a busy period."
1 Meridian News Release November 11, 2020
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
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ABOUT MERIDIAN
Meridian Mining UK S is focused on the acquisition, exploration
and development activities in Brazil. The Company is currently focused on
developing the Cabaçal VMS Copper-Gold project in the state of
Mato Grosso; exploring the Espigão
polymetallic project, the Mirante da Serra manganese project, and
the Ariquemes tin portfolio 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 mineralisation. 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 S.E.