Announcement • Aug 13
Meridian Mining Plc Drills Multiple Stacked Layers of Gold-Copper-Silver and Zinc-Lead VMS Mineralisation Below Santa Helena
Meridian Mining plc has drilled multiple stacked layers of Au-Cu-Ag & Zn-Pb VMS mineralisation below Santa Helena, further extending the limits of mineralisation. Santa Helena is located 10km south-east of the advanced Cabaçal gold-copper-silver project located in Mato Grosso, Brazil. CD-878 returned 11.3m @ 0.8g/t Au, 0.2% Cu, 17.6g/t Ag, 3.4% Zn & 0.6% Pb from 199.8m, including an interval containing visible gold. CD-878 then intercepted a lower layer of copper-dominant VMS mineralisation returning 1.7m @ 0.9% Cu, 0.1g/t Au and 8.3g/t Ag. CD-878's upper zone is interpreted as a 90m down-dip 'widening extension' to the previously reported CD-869 intersection of 7.2m @ 1.4g/t Au, 0.1% Cu, 24.3g/t Ag, 2.3% Zn & 0.9% Pb. Drilling across the greater Santa Helena system continues. Drill hole CD-878 has returned multiple stacked layers of gold-copper-silver and lead-zinc mineralisation together totalling 13.0m, below and separate from the Santa Helena Central resource area. CD-878 was drilled to test the down-dip projection of this VMS mineralisation first intercepted by CD-869. This new zone of mineralisation remains open in all directions and a borehole electromagnetic programme is being planned. Ongoing exploratory drilling continues to enhance the potential for defining further stacked VMS horizons within the larger Santa Helena system. CD-878 intersected an upper broad interval with a higher abundance of banded sulphides, and a number of more discrete higher-grade sub-intervals, returning: 11.3m @ 0.8g/t Au, 0.2% Cu, 17.6g/t Ag, 3.4% Zn & 0.6% Pb from 199.8m; Including 7.9m @ 1.1g/t Au, 0.2% Cu, 23.7g/t Ag, 4.4% Zn & 0.8% Pb from 199.8m; Including 4.4m @ 1.7g/t Au, 0.1% Cu, 32.1g/t Ag, 5.8% Zn & 1.4% Pb from 199.8m. CD-878 then intercepted a second lower layer of copper-dominant VMS stringer mineralisation: 1.7m @ 0.9% Cu, 0.1g/t Au, and 8.3g/t Ag from 224.7m. The upper layer's peak gold result was 7.3g/t Au over 0.7m from 203.5m, coincident with peak silver of 71.7g/t Ag (Sample CBDS132288). The peak zinc grade was 7.1% Zn over 0.4m from 200.8m (Sample CBDS132282), and peak lead grade was 3.4% Pb over 0.7m from 203.5m (Sample CBDS132288). Similar to the up-dip intersection, the intersection was not copper-rich (peak of 0.64% Cu; Sample CBDS132293). The lower copper-rich stringer zone in the footwall to this intersection includes a sample of 1.6% Cu over 0.6m from 225.0m (Sample CBDS132325). Also like the other zones, the intersection corresponds with a zone of sodium depletion, with magnesium enrichment (consistent with chloritic alteration), and with a suite of VHMS pathfinder elements. The main composite of CD-878 is located ~90 m down-dip from CD-869, with the envelope of mineralisation widening from 7.2m to 11.3m and remaining open. For reference, the up-dip CD-869 intersections returned intervals of: CD-869: 7.2m @ 1.4g/t Au, 0.1% Cu, 24.3g/t Ag, 2.3% Zn & 0.9% Pb from 177.6m; Including 6.2m @ 1.6g/t Au, 0.1% Cu, 26.6g/t Ag, 2.6% Zn & 1.0% Pb from 178.1m. The metal distribution continues to suggest that this sulphide system may represent a more distal, cooler domain of a broader VMS system, with ongoing drilling along strike designed to test for variations in Cu:Zn ratios. The pulse of more copper-rich stringer mineralisation in CD-878 may be a signal of a phase of hotter fluids in a footwall fracture. The CD-869 /CD-878 position is interpreted to be a down-dip projection of the Santa Helena North chargeability and surface geochemical anomalies. These were interpreted as the uppermost surficial expression of a VMS exhalative horizon. Initial confirmation of mineralisation within this anomaly came from CD-607, which intersected VMS pathfinders and trace mineralisation. The horizon was considered prospective for thickened down-dip or down-plunge extensions. Broad-spaced drilling commenced this year to improve geological understanding and assess the potential for resource extensions. Additional potential also exists for structurally controlled gold with overprinting mineralisation associated with later deformational events in the Cabaçal Belt. Additional drilling is in progress. The succession is interrupted to a degree by post-mineralisation gabbroic sills, with modelling in progress to understand their geometry and how they potentially displace this second VMS horizon. CD-874 intersected a marginal section of the Santa Helena mineralisation but terminated early at 48.7m before reaching the second horizon position. Up-dip hole CD-873 intersected a broad but lower-grade interval, on the upper side of a mafic intrusive body. They possibly represent the same plane, or the extension of one of the hanging wall mineralised positions with the gabbroic body cutting the main mineral position. Up-dip hole CD-865 was terminated in the gabbroic unit. Some broad step-out holes at the far eastern sector of the Álamo trend included CD-872 and CD-876. CD-872 intersected a broad but lower-grade gold-zinc anomaly in the transition zone, and a zinc anomaly in the shallow basement, which may be an up-dip expression of the same system. CD-876 intersected multiple narrow low-grade bands. Both holes have associated pathfinder signals. The shallow-dipping stratigraphy provides access to a broad extent of prospective greenstone contact at explorable depths, and CD-878 was collared approximately 450m to the south of the leading edge of the Santa Helena North's chargeability anomaly. Drill core samples have been analysed at the ALS laboratory in Lima, Peru. Samples are dried, crushed with 70% passing <2mm, split to give a mass of approximately 250g, and pulverised with 85% passing 200µm. Routine gold analyses have been conducted by Au-AA24 (fire assay of a 50g charge with AAS finish). High-grade samples (>10g/t Au) are repeated with a gravimetric finish (Au-GRA22). Base metal analysis is conducted by methods ME-ICP61 and OG62 (four-acid digest with ICP-AES finish). Visible gold intervals are sampled by metallic screen fire assay method Au-SCR21. Samples are held in the Company's secure facilities until dispatched and delivered by staff and commercial couriers to the laboratory. Pulps and coarse rejects are retained and returned to the Company for storage. The Company submits a range of quality control samples, including blanks and gold and polymetallic standards supplied by Rocklabs, ITAK and OREAS, supplementing laboratory quality control procedures. Approximately 5% of archived samples are sent for umpire laboratory analysis, including any lots exhibiting QA/QC outliers after discussion with the laboratory. In BP Minerals' sampling, gold was analysed historically by fire assay and base metals by three-acid digest and ICP finish at the Nomos laboratory in Rio de Janeiro. Silver was analysed by aqua regia digest with an atomic absorption finish. True width is considered to be 85-95% of intersection width.
