More NewsGlta - finnboy
Meridian Mining Discovers New Surface Gold Trend at Cabaal
/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE U.S./
Trenching program discovers 44.0m @ 1.5 g/t Au 2km southeast of Cabaal
LONDON, UK, April 5, 2022 /CNW/ - Meridian Mining UK S (TSX: MNO), (Frankfurt/Tradegate: 2MM) (OTCQB: MRRDF), ("Meridian" or the "Company") is pleased to announce a surface discovery of gold mineralization via its trenching program at its camp scale copper-gold VMS Project ("Cabaal") located in Mato Grosso, Brazil. The Company has cut a 44m zone of strong, structurally hosted gold mineralization grading 1.5g/t Au in TR_020. This trenching followed a high-grade gold-in-soil anomaly1 at the southern limit of the C4A prospect, bordering the C2A prospect, approximately 2km to the southeast of the Cabaal Mine (Figure 1), and 7km to the northwest of the Santa Helena deposit. This discovery is part of our ongoing "near-mine" prospect evaluation program and emphasizes the Company's potential for new satellite discoveries outside of the Cabaal and Santa Helena Mines' spheres along the 11km Cabaal Mine Corridor (Figure 2).
Highlights of today's announcement:
- Meridian discovers new surface gold trend in trenching 2km southeast of Cabaal Mine;
- Trenching program discovers new gold trend with assays returning 44.0m @ 1.5g/t Au;
- High grade core zone grades 12.0m @ 4.5g/t Au & 0.4g/t Ag;
- TR_020 is at the Northwestern limit of an open 3.5km copper-gold-zinc anomaly;
- TR_020 discovery starts to outline the possibility of scalability of the Cabaal copper-gold camp;
- Numerous untested adjacent targets; including:
- A 700m chargeability anomaly, south and along strike from TR_020, providing further upside potential for Meridian; and
- Planning for additional prospecting, mapping, geophysics and trenching, is underway to prioritize drill targets.
Dr Adrian McArthur, CEO and President of Meridian, stated, "This new discovery of a new gold trend at surface is a testament to our team's methodical technical approach. Today's trenching result is among the strongest I have encountered in my career and implies an opportunity for targeting additional resources at satellite targets. We look forward to drilling under and down plunge from this trench and testing further regional targets along the 11km Cabaal Mine Corridor. These results help us construct concepts of scalability and adapt future timelines to reflect the tremendous potential we see at Cabaal to become a leading mid-tier mining camp. I congratulate the team on this new discovery."
This trenching result supports the conclusions of the NI43-101 Property Report2 that the project area offers considerable scope for additional discoveries. TR_020 is open to the northwest and lies at the northern end of a 3.5km copper-zinc-lead anomaly that extends to the southeast3. Concurrent to TR_020's trenching program, an Inverse Polarization ("IP") geophysical survey defined associated chargeability anomalies flanking the trench and extensive chargeability anomalies along strike (Figure 3). Management believes TR_020's geological model of high-grade gold overprinting gently dipping VMS units is consistent with what has been encountered elsewhere in the Cabaal Belt. The trench sequence consists correlative host units to the Cabaal Mine ("CTB") – banded cherty tuffacous volcaniclastic rocks, overprinted by a package of folded quartz veins striking northwest at right angles to the trench axis. The folds plunge moderately to the NW. Significantly, the results show the gold mineralization can become detached from immediate VMS base metal system, exploiting a structural extensions through the late-stage gold overprint event.