The NR... from Meridian's website! Meridian Mining Provides Update on Ariquemes Tin Exploration Portfolio Independent geophysical review and sampling program highlights prospectivity of Ariquemes tin portfolio. LONDON, January 22, 2020 /CNW/ - Meridian Mining SE (TSXV: MNO) ("Meridian" or the "Company") today provides an update on its Ariquemes Exploration Project, following an independent review of new information released by the Companhia De Pesquisa De Recursos Minerais (“CPRM”) – (Geological service of Brazil). The data release has supported the prospectivity of the Company’s regional tin portfolio. The CPRM study highlights geophysical signatures consistent with the tin-bearing granite series within the Company’s project area. Broad-spaced stream sediment samples within the licence area also have returned positive indicators of cassiterite and in places gold, in pan concentrates form the local drainage system. Together the geophysical and geochemical datasets reinforce the Company’s view that a prospective exploration opportunity exists, targeting anomalies extending under areas of shallow cover from the known mineralized centres.
The highlights of the CPRM research program’s results:
Multiple tin anomalies identified across the Ariquemes tin exploration portfolio (Fig 1); The tenements have coverage over the prospective Rondnia and Santa Clara suite of Granitic intrusions (Fig 2); and Tenements cover potential target/structural corridors between existing mines and or occurrences.
The CPRM’s recent studies in the Ariquemes District of Rondnia were initiated under its reas de Relevante Interesse Mineral program. An initiative with Federal backing, aimed at stimulating the mining industry by providing new data on areas considered to have discovery and development potential. The Ariquemes district was selected based on its contribution to the economy as Brazil’s second largest tin field, and the need to reconsider the prospectivity based on available geophysical datasets.
The CPRM review is timely, with Meridian having consolidated its land position in the Ariquemes district with new applications1. The CPRM review area spans the majority of the Company’s project position. The CPRM’s findings were launched at a symposium in Porto Velho (Rondnia Brazil), which concluded that there are good indicators of tin-bearing granites in the area. Key observations are as follows: Gold and cassiterite were detected in pan-concentrates from a CPRM stream-sediment sampling program (Fig 1). The sampling was conducted at very broad spacings (points kilometres apart). The responses are at trace levels, but are considered significant in showing mineralized sources
The distinctive magnetic signature of tin-bearing granite series extends beyond areas of exposure and projects beneath younger cover sediments. A broad envelop of interest occupied by clusters of favourable magnetic anomalies has been defined (Fig 1).
1 News release of April 5, 2018
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The radiometric response maps out signatures associated with two mineralized granite series – the Rondnia Suite to the west, and the Santa Clara Suite to the east. The response extends beyond the mapped granite boundaries (Fig 2, Fig 3), suggesting the granites project under shallow cover.
Within the Company’s license area, the more detailed 1:100,000 maps recently produced as part of the study now show the presence of the prospective granites, along strike to active tin mines, and elsewhere, requiring prospecting follow-up when the licenses are granted.
Fig 1: Positive tin/gold anomalies in CPRM pan concentrates within the project area
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Tin Portfolio corporate re-organisation The Company currently manages all of its Brazilian assets in one local 100% owned subsidiary Meridian Minerao Jaburi S.A (“MMJ”). The Brazilian operations are now being re-structured on a portfolio basis. As part of this process the entire tin portfolio, (JV agreements and exploration titles) is in the process of being transferred out of MMJ an into a new Brazilian corporate shell. This will facilitate management of the portfolio and have a clear separation between the Company’s portfolio of assets.
Mr Clark, Interim CEO & President, states, “These CPRM stream anomalies of tin and their proximity to existing mines and prospective source granites, support our view that the prospectivity of our Ariquemes tin exploration portfolio is excellent. The Company’s tin portfolio straddles Brazil’s second largest producing tin field and these new CPRM studies, position this portfolio not only between existing mines but also above or in proximity to the prospective granite intrusions. The first generation of tin mining in Ariquemes was the result of surface discoveries, the next generation will come from exploration success, from blind or shallow occurrences, a more detail technical presentation will be uploaded shortly to the Company’s web site.”
Qualified person
The technical information about the company's exploration activity and exploration target range has been reviewed and approved under the supervision of Dr. Adrian McArthur (Bachelor of Science (honours), doctor of philosophy and FAusIMM), the chief geologist of Meridian Mining, who is a qualified person within the meaning of National Instrument 43-101.
On behalf of the Board of Directors of Meridian Mining SE
Gilbert Clark Interim CEO, President and Director