Meridian Mining drills 4.0 g/t AuEq over 5.1 metres at Cabacal, Brazil
Meridian Mining U.K. Societas [TSX-MNO; OTCQB-MRRDF; FSE-2MM] reported that the prefeasibility study (PFS) drill program continues to produce robust results at the Cabacal gold-copper-silver deposit, Brazil. Multiple wide zones with internal high-grade cores, such as CD-400’s 25.8 metres at 1.4 g/t gold equivalent (AuEq), including 9.5 metres at 2.9 g/t AuEq, and CD-399’s 15.3 metres at 1.7 g/t AuEq, including 5.1 metres at 4.0 g/t AuEq. The PFS drill program continues with the aim to convert in-pit resources to higher classifications and increase confidence in the flagship Cabacal project.
The company is also reporting the results of the geotechnical studies that have potential to increase the Cabacal’s pit wall angles that would deliver a meaningful reduction in the strip ratio.
The northwestern limit of Cabacal deposit remains open with a new cupriferous gossan outcrop defined. Further results from Cabacal and Santa Helena are pending.
Highlights: Strong results of gold-copper-silver mineralization including CD-400’s 25.8 metres at 1.4 g/t AuEq, including 9.5 metres at 2.9 g/t AuEq reported by Meridian Mining.
Meridian drilled zones of gold and copper at Cabacal grading up to 9.5 metres at 2.9 g/t AuEq: CD-399 returned 15.3m at 1.7 g/t AuEq from 125.5m; including 5.1m at 4.0 g/t AuEq from 126.1m; CD-400: 25.8m at 1.4 g/t AuEq from 48.0m; including 9.5m at 2.9 g/t AuEq from 62.5m. CD-404 returned 20.4m at 1.1 g/t AuEq from 101.2m; including 3.8m at 3.6 g/t AuEq from 113.5m.
Cabacal’s current geotechnical studies suggest optionality to steepen pit walls to 54 degrees: High likelihood that Cabacal’s in-pit strip ratio may decrease below PEA’s 2.1:1. Northwestern limit of Cabacal deposit remains open with new cupriferous gossan outcrop.
Gilbert Clark, CEO, commented: “These broad zones of open pitable mineralization, are the economic foundations of the industry leading Cabacal economics, demonstrated in our 2023 PEA. Cabacal’s forward momentum continues with our geotechnical studies indicating good potential for steepening the pit walls, (which may lower the strip ratio, and deliver a reciprocal economic benefit in the up-coming PFS). Finding a gossan outcropping at Cabacal’s northwestern limit indicates that even after 2km of resource delineation success, near-mine extensions remain to be tested. When I look at the greater picture, I see tremendous potential for Cabacal to emerge as another world-class Latin American VMS camp.”
The Cabacal resource development program continues, with three rigs currently deployed. Results recently received included infill holes drilled from the Cabacal Northwest Extension (CNWE), and historical Cabacal mine area. These results form part of the PFS process that is a crucial phase in the development and growth of the project.
Drill results from the CNWE were returned from the 25m infill program. Results included CD-395 that returned 10.9m at 1.3 g/t AuEq (0.1 g/t Au, 0.8% Cu & 1.4 g/t Ag) from 43.7m, including 4.1m at 2.8 g/t AuEq (0.2 g/t Au, 1.8% Cu & 2.9 g/t Ag) from 50.0m.
CD-396 returned 15.6m at 0.8 g/t AuEq (0.2 g/t Au, 0.4% Cu & 0.8 g/t Ag) from 44.4m, including 8.7m at 2.0 g/t AuEq (0.9 g/t Au, 0.8% Cu & 2.6 g/t Ag) from 95.0m; 10.1m at 1.3 g/t AuEq (0.3 g/t Au, 0.7% Cu & 1.1 g/t Ag) from 118.3m.
CD-399 returned 15.3m at 1.7 g/t AuEq (0.3 g/t Au, 1.0% Cu & 1.6 g/t Ag) from 125.5m, including 5.1m at 4.0 g/t AuEq (0.6 g/t Au, 2.4% Cu & 3.2 g/t Ag) from 126.1m.
CD-404 returned 20.4m at 1.1 g/t AuEq (0.4 g/t Au, 0.5% Cu & 0.8 g/t Ag); including 101.2m, including 3.8m at 3.6 g/t AuEq (1.3 g/t Au, 1.7% Cu & 2.2 g/t Ag) from 113.5m.
CD-413 returned 8.4m at 1.5 g/t AuEq (0.2 g/t Au, 0.9% Cu & 1.8 g/t Ag) from 73.7m.
The results form part of broader zones of mineralization and continue to improve modelling of grade continuity. Results show robust levels of copper mineralization at the lower contact which will improve modelling of grade continuity.
Angled holes in the mine area returned: CD-393 (SCZ): 17.8m at 1.0 g/t AuEq (0.4 g/t Au, 0.5% Cu & 1.0 g/t Ag) from 70.3m, including 3.3m at 4.2 g/t AuEq (1.5 g/t Au, 1.9% Cu & 3.5 g/t Ag) from 70.7m.
CD-400 (CCZ): 25.8m at 1.4g/t AuEq (0.9g/t Au, 0.4% Cu, 2.2 g/t Ag) from 48.0m, including 9.5m at 2.9 g/t AuEq (1.7 g/t Au, 0.9% Cu, 5.5 g/t Ag) from 62.5m.
CD-414 (SCZ) returned 4.1m at 3.3 g/t AuEq (1.7 g/t Au, 1.1% Cu & 4.7 g/t Ag) from 42.1m and 21.9m at 0.9 g/t AuEq (0.4 g/t Au, 0.4% Cu & 1.9 g/t Ag) from 53.1m.
CD-427 (SCZ) returned 22.6m at 1.4 g/t AuEq (0.4 g/t Au, 0.7% Cu & 3.4 g/t Ag) from 59.5m, including 8.8m at 2.8 g/t AuEq (0.6 g/t Au, 1.5% Cu & 7.5 g/t Ag) from 64.4m.
The drilling in the mine area provides for further validation of the mine workings and the extensive open pitable mineralization left in the higher-grade pillars.
The forward program will particularly focus infilling areas of where resources remain inferred to unclassified. The company has successfully executed a number of holes at low angles following adaptations to the small footprint rig, where topographic access has been more restricted.
As part of the data generation requirements for its pre-feasibility study of the Cabacal project, Meridian has commissioned the independent geotechnical consultancy, Fundacao Luiz Englert, to undertake a geotechnical study of the Cabacal pit in order to deliver enhanced confidence to the assumptions that were used in the Cabacal preliminary economic study completed in March 2023.
Meridian Mining is focused on the development and exploration of the advanced stage Cabacal VMS gold-copper project; regional scale exploration of the Cabacal VMS belt; and exploration in the Jauru and Araputanga Greenstone belts (the above all located in the State of Mato Grosso, Brazil).