Meridian Confirms Cabaçal's Mine Corridor's Significant Exploration Potential - Seite 3

Survey programs are ongoing. Whilst Cabaçal advances, the Company is also working to position itself for assessment of Santa Helena as a satellite open pit development target. A similar program of checks and reviews to that implemented at the Cabaçal Mine's, will be undertaken in preparation for a NI43-101 resource update. Field checks have located a significant number of historical collars to validate field positions and complete audit of BP Minerals and Prometálica will be undertaken.

Foto: Accesswire

Foto: Accesswire

Foto: Accesswire

Foto: Accesswire

Figure 2: Map and example profiles of chargeability inversions (Top to Bottom: Line 6, Line 2NW, Line 5)

Espigão IOCG Target Program - Update on Gravity Survey

The Company has also continued its IOCG targeting program at Espigão in Rondônia. The regional survey phase has now been completed (Figure 3), and work has commenced on a 200 x 200m gravity survey grid over the southern anomalies where the highest threshold gravity responses have been encountered. Additional work will also be undertaken on a number of anomalies internal to the project area where the wide-spaced survey grid indicated elevated responses above backed associated from structural corridors, including positions within the Lavra, Ademir Curral, Vitalino,

The Company continues to be encouraged by the strength of the anomalies encountered in this first phase of the reconnaissance program and looks forward to the results of the second phase of the survey, and expects to be in a position to review potential drill targets by the end of 2022 / early 2023.

Foto: Accesswire

Figure 3: Updated first vertical derivative gravity image over the Espigão Project, with magnetic gradient modelling ("worms") superimposed.

About Cabaçal

In November 2020, Meridian signed a Purchase Agreement³ to acquire 100% ownership certain tenements covering the historical Cabaçal and Santa Helena lines and the along strike tenements from two, private, Brazilian companies ("Vendors"). Subsequently, Meridian expanded its land tenure to today's 55km of strike length. Cabaçal 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. Cabaçal is located in the state of Mato Grosso, Brazil.