XRF Readings Reach 13.0% Copper, 34 g/t gold And 29 g/t Silver In Brazil
Meridian Mining UK (TSXV: MNO) has received encouraging visual core results at its camp-scale Cabaçal Copper- Gold VMS project in Mato Grosso, Brazil.
The third and fourth diamond drill holes (DDH) CD-003 and CD-004 of an approximately 70 drill hole programme, have intercepted strong sulphide mineralisation within the Southern Copper Zone (SCZ), with CD-003 concluding at a depth of 205.53m, and CD-004 concluding at a depth of 200.05m.
The intersections are 85m apart. Assays are pending with initial results expected in late April. A third drill rig has been requested to expedite the company’s ongoing fully funded maiden drill program at Cabaçal.
Highlights of CD-003 & CD-004 to date:
- Strong sulphide mineralisation intersected by CD-003 and CD-004 within the SCZ at Cabaçal;
- Portable XRF point source readings on the sulphide assemblage show a copper-dominant zone with precious metals and base metal assemblages (Photo 1) including: Copper (Cu) to 13.21%, Gold (Au) to 34 g/t, Silver (Ag) to 29 g/t; and Zinc (Zn) to 1.08 %.
- Hole CD-003 intersected a breccia to stringer sulphide zone over 11.4m from 156.9 – 168.3m, as part of a broader package of disseminated sulphide mineralisation from 54.8m; and
- Hole CD-004 intersected a breccia to stringer sulphide zone over 13.1m from 151.3 – 164.4m (Photo 2), as part of a broader package of disseminated sulphide mineralisation from 46m.
“These initial results are exceeding our expectations and validating our model for the Cabaçal project to potentially fill the void of promising new copper projects globally,” CEO and President, Dr Adrian McArthur, said.
“Drilling is proceeding rapidly with a third rig currently on its way to site. Additional borehole geophysics, a highly effective targeting tool in VMS deposits, will be undertaken to trace mineralization and consider extensional projections to the south east.
“The ongoing programme will continue to test both the broad envelope of mineralisation and more discrete high-grade trends in working towards an initial 43-101 technical report and development studies.
“While this initial programme is targeting the historical Cabaçal mine area, management believes there is untested potential for copper-gold discoveries over a 30km strike. We look forward to publishing and interpreting further results throughout the Spring and Summer.”
He said these holes confirm the full mine sequence stratigraphy in the Southern Copper Zone, with the sulphide rich basal layer intact.