Meridian Mining receives key permit for Cabaçal Project, Brazil

Meridian Mining S.E. [MNO-TSXV; MRRDF-OTC] has been granted the key environmental permit Licenca de Operacao Provisoria para Mineracao, required for commencing exploration activities at its Cabaçal copper-gold project, an advanced Volcanogenic Massive Sulphide (VMS) in the state of Mato Grosso, Brazil. 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.

Two diamond drill rigs contracted from Willemita Sondagens Ltda. are now mobilizing to the site to start the 10,000-metre drill program with the first focus is on historical high-grade copper-gold southern zone. First core will be on surface by next week with first assays expected late April. Confirmation of BP/Rio Tinto’s historical 600 diamond drill hole database is commencing.

The Geomag S/A Prospeccoes Geofisicas survey team is mobilizing to-site to conduct surface and down-hole electromagnetic (EM) surveys with first EM surveys to start next week. The field team has been expanded to support site preparatory work, including precision survey location of historical drill holes, preparation of logging and sampling facilities, and near mine reconnaissance.

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 – 1990s by BP Minerals that returned intervals such as DDH 482 with 15.0 metres of 5.5% copper, 1.31 g/t gold, 24.72 g/t silver and 1.20% zinc. Hole CAIK 211 returned 29.3 metres of 6.0% copper, 3.10 g/t gold, 28.80 g/t silver and 0.70% zinc.

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 Prospeccoes Geofisicas, to conduct a 75 line-km fixed loop surface EM orientation survey over the mine and near-mine environment, and bottom-hole EM surveys (BHEM) on initial 2021 diamond holes.