LONDON , Nov. 20, 2017 /CNW/ - Meridian Mining SE (TSX V: MNO) ("Meridian " or the "Company") today provided an update on reconnaissance exploration results from its Coice de Cobra Gold program in the state of Rondônia, in NW Brazil .
KEY POINTS
Recent programs focussed on evaluation of a 281-hectare area, within broader geochemical anomalies spanning 39 km2 in the Coice de Cobra region and 8 km2 in the Gazetta area to the west. The trenching program indicates potential for targets with a broad footprint of mineralization, with results of 28m @ 0.8g/t Au, including 0.5m @ 23.5g/t Au and 0.5m @ 9.1g/t Au in surface saprolite below shallow soils. More discrete lode structures are observed in sub-surface drilling. Peak intersections to date of 4.35m @ 3.2g/t Au in in ductile shear zones with strong quartz-sulfidealteration. Preferred structural trends for mineralization mimic those recognized more broadly in gold deposits of the Amazon Craton (dominant E-W / NE trends). A review of the Company's geophysical data in conjunction with recent exploration data has highlighted additional target corridors to be prioritized for follow-up. The Company has decided to pause the drilling and trenching program whilst land access is arranged for these corridors.
"The results of the initial drilling and trenching campaign support the presence of a bedrock gold system" said Anthony Julien , President and CEO of Meridian. "All of the key geological elements are present that warrant a sustained program to test for open pit targets where multiple structures converge, and to test the opportunity for higher-grade mineralization in discrete shear zones. With the number of targets on the gold project expanding, the Company may seek strategic partnerships. This will enable continued focus on development studies for the Bom Futuro Tin Joint Venture, and expansion of the Company's manganese business".
ESPIGÃO DO OESTE GOLD PROJECT
Meridian Mining first identified gold potential on licences associated with its manganese operations during geochemical programs in 2016. Stream and associated soil geochemical anomalies were defined over 8 km2 in the Gazetta area to the west, over 39 km2 in the Coice de Cobra areas to the east.
Reconnaissance trenching results support a local basement structural source for the surface gold anomalies. This represents a newly defined bedrock mineral system, being geographically separated from the nearest gold districts (the Alto Guaporé Gold Belt to the south and the Alta Floresta - Juruena Province to the east in Mato Grosso ; Fig 1). The gold-bearing structures at Espigão do Oeste nevertheless share some similar characteristics with other gold camps of the Amazon Craton, with north-east and east-west structures favoured for mineralization. These trends are similar to those seen in the granite-hosted gold systems at Alta Floresta.
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