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Meridian Mining UK S is a copper-gold-silver mining company focusing on its advanced Cabaçal project in Brazil. The company recently discovered the Jauru copper & gold exploration project, a district-scale asset with significant potential. Meridian is dedicated to developing its existing projects while exploring new prospects to expand its operations.
Meridian Mining has reported significant drilling results from its Cabaçal Cu-Au-Ag VMS project. Key highlights include intercepts of 20.9m @ 6.5g/t AuEq (4.4% CuEq) from CD-639, 26.6m @ 2.6g/t AuEq (1.8% CuEq) from CD-636, and 7.3m @ 5.9g/t AuEq (4.0% CuEq) from CD-606.
The drilling program has confirmed multiple stacked layers of VMS mineralization with high-grade Au-Cu-Ag content. Notable results include a gold-dominant zone grading up to 56.7g/t Au. The company recently completed a CAD 17.2M capital raise and is focusing on advancing Cabaçal's and Santa Helena's resource development program in 2025.
The drilling campaign is in its final phases of Pre-Feasibility Study (PFS), with ongoing infill drilling expected to conclude in the first half of the year. The program aims to consolidate information where historical data has been lost and contribute core samples for definitive feasibility study metallurgy.
Meridian Mining has successfully closed its oversubscribed non-brokered private placement, raising CAD 17.2 million through the issuance of 44,187,432 common shares at CAD 0.39 per share. Company insiders participated by purchasing 279,744 shares, constituting a related party transaction exempt from formal valuation requirements as it was below 25% of market capitalization.
The proceeds will be used to advance the Cabaçal Au-Cu-Ag VMS project in Brazil, specifically for PFS advancement, FS initiation, resource exploration activities, and working capital. The issued shares are subject to a four-month hold period until June 20, 2025, pending final Toronto Stock Exchange approval.
Meridian Mining has announced an increase in its non-brokered private placement from CAD 10M to CAD 17M due to substantial interest. The company will issue up to 43,589,744 Common Shares at CAD 0.39 per share.
The net proceeds will be used to advance Cabaçal's PFS, initiate the FS and related programs, resource and exploration activities of the Cabaçal Au-Cu-Ag VMS belt, regional targeting, and working capital. Finder's Fees may apply to a portion of the placement.
The Private Placement is expected to close during the week of February 17, 2025, subject to regulatory approvals including Toronto Stock Exchange acceptance. Securities issued will have a four-month hold period under Canadian securities laws.
Meridian Mining has announced a fully subscribed CAD 10 million non-brokered private placement at CAD 0.39 per share, secured from a single European investor who will increase their stake to 12.1%. The funding will support the company's transformational 2025 plans for its flagship Cabaçal Au-Cu-Ag project in Brazil.
The company's Pre-Feasibility Study (PFS) is on track for Q1 2025 completion, with plans to initiate a Feasibility Study afterward. The 2025 program includes a 4,700-meter infill drilling program at Cabaçal and up to 11,700 meters at Santa Helena, where recent high-grade gold-silver discoveries have expanded the project's potential.
The proceeds will fund PFS completion, initiate the Feasibility Study, and support expanded drilling at Santa Helena and regional exploration along the 50km Cabaçal VMS Belt. The private placement is expected to close by February 17th, 2025, subject to regulatory approvals.
Meridian Mining has reported significant drilling results from its Santa Helena Cu-Au-Ag & Zn deposit. The key highlight is drill hole CD-612, which yielded 58.9m @ 3.6g/t AuEq (2.8g/t Au, 0.7% Cu, 19.0g/t Ag & 1.7% Zn), including a higher-grade zone of 26.8m @ 4.1g/t AuEq. This result extends the lateral mineralization discovered in previous drilling.
The company has also secured new license applications, expanding its footprint in the Cabaçal, Jaurú and Araputanga Belts. The expansion includes 7,561 Ha east of the Alamo licence, 2,116 Ha in the Jaurú Belt, and 2,337 Ha in the Araputanga Belt. Due to recent western expansion results, the Santa Helena Mineral Resource Estimate publication has been postponed to early January.
Meridian Mining has announced significant high-grade gold-rich VMS drill results from the Santa Helena deposit. The key highlight is drill hole CD-605, which returned 75.6m @ 4.6g/t AuEq (3.0g/t Au, 1.0% Cu, 30.2g/t Ag & 2.5% Zn) from 32.4m depth. This discovery extends the mineralization laterally and indicates a continuous ~1.4km high-grade system. The intersection includes the highest grade silver (507g/t Ag) encountered in the Cabaçal VMS Belt to date. Additional drill results show consistent high-grade mineralization, with CD-601 returning 13.1m @ 6.6g/t AuEq and CD-591 yielding 5.0m @ 8.9g/t AuEq.
Meridian Mining reports significant drilling results from its Cabaçal Cu-Au-Ag project in Mato Grosso, Brazil. The company identified multiple stacked zones of high-grade mineralization, highlighted by intersections including CD-544: 38.2m @ 3.2g/t AuEq or 2.1% CuEq, CD-595: 12.4m @ 3.3g/t AuEq or 2.2% CuEq, and CD-571: 22.2m @ 1.7 g/t AuEq.
The drilling program revealed 20+ intercepts exceeding 10-gram meters gold equivalent, with results showing both VMS Cu-Au-Ag horizons and gold overprint. The program has improved definition of high-grade trends and confirmed stacked zones of mineralization, particularly in areas where historical drilling was incomplete or partially sampled.
Meridian Mining UK. S (TSX:MNO, OTCQX:MRRDF) has reported high-grade assay results from its Santa Helena Au-Cu-Ag & Zn VMS deposit in Brazil. Key highlights include:
- CD-574: 15.9m @ 3.9g/t AuEq / 2.6% CuEq from 58.2m, including 5.5m @ 9.0g/t AuEq / 6.0% CuEq from 60.1m
- CD-556: 22.4m @ 3.2g/t AuEq / 2.2% CuEq from 9.2m, including 5.5m @ 7.8g/t AuEq / 5.2% CuEq from 21.3m
The results extend and infill Santa Helena's high-grade continuous mineralization and will be included in the pending resource estimate in Q4 2024. Geophysical programs have also identified potential targets for blind extensions to the main mineralized trend.
The company's CEO, Gilbert Clark, stated that these results confirm the over 1.0km continuity of the host sulphide mineralization and its potential to convert into their next high-grade open pitable deposit.
Meridian Mining UK S (TSX:MNO, OTCQX:MRRDF) reports strong results from its Cabaçal Cu-Au-Ag project. Highlights include:
- CD-535: 21.6m @ 3.1g/t AuEq / 2.1% CuEq from 85.0m
- CD-534: 25.9m @ 1.4g/t AuEq / 0.9% CuEq from 80.8m
- CD-529: 16.1m @ 2.8g/t AuEq / 1.9% CuEq from 92.1m
The company has identified multiple structural inflexions along the 2km strike length of the deposit, where most Cu-Au-Ag mineralization is found. New targets for potential Cu-Au mineralization repeats have been identified along the 10km Mine Corridor. Meridian's understanding of local mineralization control has allowed them to target and rank the belt's exploration upside.
Meridian Mining reports strong Au-Cu-Ag mineralization at its Cabaçal project, including 13.4m @ 4.6g/t AuEq from 73.8m in hole CD-492. The company has largely completed PFS geotechnical drilling for mine and mill infrastructure engineering. Drilling continues at Santa Helena, with a new borehole geophysics program commenced. Meridian has also started a mine-corridor exploration program to test multiple Cu-Au targets along the 50km Cabaçal VMS belt.
Key highlights include:
- CD-492: 35.4m @ 2.2g/t AuEq from 51.8m, including 13.4m @ 4.6g/t AuEq from 73.8m
- CD-493: 6.9m @ 2.0g/t AuEq from 106.5m, including a 51cm zone with visible gold grading 17.0g/t AuEq
- CD-498: 8.2m @ 1.7g/t AuEq from 45.9m
The company is advancing towards a mining decision at Cabaçal, with ongoing PFS studies and exploration efforts to expand the project's potential.
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