Meridian Mining Provides Post Financing Activities Outlook for Cabaçal - Seite 3

Santa Helena's drill results to date have shown a good correlation between the mine horizon hosting the Au-Cu-Ag & Zn mineralization and the ~3km chargeability response seen in the IP survey. Meridian's drilling has only partially covered the IP anomaly. The last reported results: CD-421: 11.3m @ 3.7g/t AuEq from 35.0m, including: 3.4m @ 8.6g/t AuEq from 42.9m[6], confirmed that it remains open outside of the historical resource envelope. The Company plans to infill and expand the definition of the mine horizon further across strike and to the east.

The Company also completed a bore-hole geophysical program ("BHEM") during the drilling recess, including surveys on the first holes drilled into the 2km chargeability corridor extending to the east of the Santa Helena mine area. BHEM surveys of CD-431 and CD-432 returned a modelled conductor extending over 40m+ in strike, with a high conductivity (~4200 Siemens), and located below and in-between the two drill holes (Figure 2). This is the strongest BHEM response detected to date at Santa Helena. Drill testing of this conductor will form part of the ongoing program of exploration for extensions, or satellite discoveries along this eastern projection of the Santa Helena mine horizon.

An important part of this drill program will be to recover a sufficient mass of Santa Helena's Au-Cu-Ag & Zn mineralization for the first round of metallurgical testwork that will determine the metal recoveries and associated flow sheet. The mineralization to be tested will include the oxide-transition zone, massive sulphide and stringer mineralization, to generate a representative sample of material from open pit depths. An important component of this program, that was not part of the historical flow sheet, is the addition of testwork for gravity separation of gold. The Company sees the potential for four products from Santa Helena's mineralization: gold doré, copper concentrates with high gold & silver credits, zinc concentrates, and a silver-gold rich lead concentrate. The scope of works for this testwork is in preparation with a timeframe for first results in late Q4.

Foto: Accesswire

Figure 2: Santa Helena drilling and BHEM conductors.

Cabaçal Exploration Expansion

The Company has focused its land access programs on some of the most prospective historical copper and gold occurrences where extensive anomalies were identified. These are largely untested by drilling and provide an immediate pipeline of targets to test for potential new discoveries.

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