- Meridian Mining (MNO) reports significant drilling results from Cabaçal Cu-Au-Ag VMS project.
- Outstanding results include CD-639 with 20.9m @ 6.5g/t AuEq from 95.3m, including 7.1m @ 9.2g/t AuEq.
- Recent CAD 17.2M capital raise achieved to advance development and Pre-Feasibility Study.
Meridian Mining UK S (MNO) has announced noteworthy drilling results from its Cabaçal Cu-Au-Ag Volcanogenic Massive Sulfide (VMS) project. The standout highlight comes from drill hole CD-639, which yielded an impressive 20.9 meters of mineralization at 6.5 grams per ton AuEq, equivalent to 4.4% CuEq, beginning at a depth of 95.3 meters. This includes an exceptional section of 7.1 meters at 9.2 grams per ton AuEq, or 6.2% CuEq, starting from 104 meters depth.
The drilling results confirm the presence of multiple stacked layers of mineralization across the project’s Eastern Copper Zone (ECZ), Central Copper Zone (CCZ), and Southern Copper Zone (SCZ). Of particular note is the high-grade gold mineralization found in the SCZ, with one sample returning a gold grade of 56.7 g/t from just 80.5 meters depth.
In a strategic move to support ongoing developments and the completion of Cabaçal’s Pre-Feasibility Study, Meridian has successfully raised CAD 17.2 million. This capital injection provides the financial backing necessary to continue the infill drilling program, which is expected to conclude in the first half of the year. This program aims to focus on areas where historical data is unavailable, thereby enhancing the project's comprehensive dataset.
Meridian Mining is actively advancing the Cabaçal project while also targeting further exploration and resource definition at Santa Helena as part of their Cabaçal Hub development strategy. The company's efforts are aimed at realizing the project's potential as well as extending the resource base for future growth.
