Meridian Mining drills 16.7 g/t gold over 2.3 metres at Cabacal, Brazil

Meridian Mining U.K. Societas [MNO-TSXV; MRRDF-OTCQB; 2MM-FSE] has delineated another high-grade gold vein set overprinting the volcanogenic massive sulphide copper-gold layer of the Cabacal Northwest Extension (CNWE) located in Mato Grosso Brazil. CD-147’s high-grade gold vein assayed 2.3 metres at 16.7 g/t gold, and provides yet another example of a new high-grade domain found within the prospective 1,250-metre strike length of the CNWE.

Meridian is also pleased to report that its C4-A gold-silver discovery has been extended from the discovery hole CD-139 by 50 metres to the northwest, with CD-142 returning 10.7 metres at 1.8 g/t gold and 33.7 g/t silver from 45.7 metres. The C4A gold-silver discovery is 2 km from the Cabacal mine and is open in all directions. The company is also reporting further assay results from the ECZ, SCZ and CNWE zones from its ongoing drill program at the Cabacal copper-gold VMS project.

Highlights: Meridian intercepted another high-grade gold vein overprinting the Cabacal Northwest Extension with 2.3 metres at 2.2% copper, 16.7 g/t gold and 3.6 g/t silver from 21.0 metres (CD-147) – CNWE; multiple high-grade sub-vertical gold veins are now defined along the CNWE.

Cabacal’s major new gold-silver discovery C4A, extended 50 metres along strike, remains open; 10.7 metres at 1.8 g/t gold and 33.7 g/t silver from 45.7 metres (CD-142) – C4A. Cabacal’s results continues to confirm, and extends layers of strong copper-gold mineralization; 54.2 metres at 0.9% CuEq (copper equivalent) (0.4% copper, 0.9 g/t gold and 1.6 g/t silver) from 11.0 metres (CD-147) – CNWE; including 2.3 metres at 12.3% CuEq (2.2% copper, 16.7 g/t gold, 3.6 g/t silver) from 21.0 metres.

There is an emerging strong copper zone from 58.3 metres with 7.0 metres at 1.1% CuEq (0.9% copper, 0.3 g/t gold and 5.9 g/t silver) from 58.0 metres; 19.2 metres at 0.6% CuEq (0.3% copper, 0.4 g/t gold, 2.0 g/t silver and 0.1% zinc) from 58.3 metres (CD-143) – CNWE.

There is an emerging strong copper zone from 58.3 metres with 7.8 metres at 1.1% CuEq (0.6% copper, 0.8 g/t gold and 3.5 g/t silver) from 58.3 metres.

Meridian has expanded locally gold dominate layer overlying the CNWE VMS system; 9.5 metres at 0.2% copper, 1.3 g/t gold and 0.3 g/t silver from 63.2 metres (CD-127) – CNWE; 39.9 metres at 0.5 g/t gold and 0.1 g/t silver from 30.1 metres (CD-132) CNWE; 41.4 metres at 0.8% CuEq (0.3% copper, 0.8 g/t gold and 0.9 g/t silver) from 62.4 metres (CD-128) – SCZ, including 6.6 metres at 3.2% CuEq (0.6% copper, 4.4 g/t gold and 2.2 g/t silver) from 66.8 metres.

Dr. Adrian McArthur, CEO and President, commented: “The Cabacal Northwest extension is now confirmed to host multiple vein sets of very high-grade gold overprinting the copper-gold VMS system, and we are confident more veins will be delineated. The strength of a new 2.3m gold vein grading at over half-an-ounce gold is significant, in being one of a new array of structures identified over the length of the CNWE. We will be releasing our first resource statement in September, and todays high grade veins, infill drilling and the emerging layer of gold dominate mineralisation, again in the CNWE, via CD-127 and CD-132 will all be contributing to Cabacal’s tonnage potential. C4-A, our major new precious metal discovery has a high-grade gold-silver core that has been extended 50m to the northwest and is open in all directions. C4-A’s high grade precious metal zone found running along the surface has a large alteration zone in the footwall and we see further potential along strike and at depth to repeat or even intercept higher grades, potentially along the lines of those gold intercepts of the CNWE. The C4-A discovery has the footprint to potentially become a major contributor to the Cabacal project’s significant upside potential.

“Today’s results further confirm Cabacal’s incredible potential to deliver new discoveries in this under-explored greenstone belt.”

Infill-drilling results reported today, continue to extend the footprint of copper-gold mineralization into sparely drilled areas.  Across-strike drilling in the CNWE continued to define extensions to the gold-dominant trend previously reported CD-099, CD-110 and CD-113. New results have extended this zone-dominant zone to 200-metre strike lengths. True widths are approximately 80-90% of downhole lengths.

CD-127 intersected 54.4 metres at 0.4% CuEq (0.1% copper, 0.4 g/t gold and 0.3 g/t silver) from 26.9 metres, including a gold-dominant layer of 9.5 metres at 0.2% copper, 1.3 g/t gold and 0.3 g/t silver from 63.2 metres. CD-132 intersected an upper gold-dominant layer of 39.9 metres at 0.5 g/t gold and 0.1 g/t silver from 30.1 metres, and a lower base metal – gold zone of 39.9 metres at 0.4%  CuEq (0.3% copper, 0.1 g/t gold, 1.7 g/t silver and 0.2% zinc) from 76.9 metres.

Extensions to the trend continue to the south, with broader intersections of gold-dominant or mixed copper-gold mineralization, amongst which further higher-grade intervals have been returned. CD-138 intersected 20 metres at 0.5% CuEq (0.5% copper, 0.1 g/t gold and 0.5 g/t silver) from 31 metres, 19.6 metres at 1.1% CuEq (0.8% copper, 0.4 g/t gold and 4.8 g/t silver) from 78.4 metres. Refer to original press release for remaining assays.

Within the immediate Cabacal mine environment, CD-128 returned a strong interval of 41.4 metres at 0.8% CuEq (0.3% copper, 0.8 g/t gold, 0.9 g/t silver) from 62.4 metres, including 6.6 metres at 3.2% CuEq (0.6% copper, 4.4 g/t gold, 2.2 g/t silver) from 66.8 metres in the SCZ, from an area where historical records were incomplete.

In November 2020, Meridian signed a Purchase Agreement to acquire 100% ownership certain tenements covering the historical Cabacal and Santa Helena lines and the along strike tenements from two, private, Brazilian companies. Subsequently, Meridian expanded its land tenure to 55 km of strike length. Cabacal had two historical, shallow, high-grade selectively mined underground mines that cumulatively produced ~34 million pounds of copper, ~170,108 ounces of gold, ~1,033,532 ounces of silver and ~103 million pounds of zinc via conventional flotation and gravity metallurgical processes.

Meridian has defined an open 2,000-metre trend of shallow copper-gold mineralization centred on the Cabacal Mine. Cabacal has excellent infrastructure with access by all-weather road, industrial electricity provided by the adjacent hydroelectric power station supplying this clean energy grid, and local communities provide a large population to draw employees from.