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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 UK S (OTCQB: MRRDF) announced a significant copper anomaly discovery at its Cabaçal Project, specifically at the Alvorada location, with a peak copper stream threshold of 164 ppm Cu, surpassing previous anomalies. This discovery was made possible through digitization of historical BP data. The company will soon deploy a drill rig to the C2 Trend to explore further targets. Meridian's ongoing explorations, including its Preliminary Economic Assessment (PEA), are progressing as planned. The Cabaçal site has historical significance, having produced substantial amounts of copper, gold, silver, and zinc through past mining operations.
Meridian Mining UK S (OTCQB: MRRDF) has announced significant management changes, promoting Mr. Martin McFarlane to President and appointing Mr. James McLucas as Vice President of Corporate Development. McFarlane, with over 30 years in the resources sector, previously served as Head of Strategy. McLucas brings 15 years of investment banking experience, focusing on the mining industry. The company also granted stock options for 3,225,500 shares at C$0.50, exercisable for five years. The Board of Directors expressed confidence in the new leadership as they advance the Cabaçal project towards a Preliminary Economic Assessment (PEA).
Meridian Mining UK S (OTCQB: MRRDF) announced significant advancements at the Santa Helena deposit, part of its Cabaçal project. Following surface electromagnetic (EM) surveys, multiple untested geophysical targets have been identified, suggesting considerable upside potential for Cu-Zn-Au-Ag mineralization. The combined results from EM and induced polarization (IP) surveys highlight new sites for exploration, potentially enhancing the mine's prospect for open-pitable deposits. Meridian has outlined plans to resume drilling activities in the Cabaçal region after the holiday break, with an emphasis on confirming these new targets.
Meridian Mining UK S (OTCQB: MRRDF) announced the granting of the Álamo exploration licence, which unlocks a highly prospective area with significant copper-gold potential. This licence covers 9,813 Ha and is adjacent to the existing Cabaçal gold-copper deposit. Recent drill results from Cabaçal showed promising intersections, including 26.8m @ 1.6g/t AuEq and 4.5m @ 5.3g/t AuEq. The company is well financed with a recent capital raise of CAD 5.9M, enabling further exploration and drilling programs.
Meridian Mining UK S (TSX:MNO)(OTCQB:MRRDF) has completed a brokered private placement, raising C$5,862,549.70. The offering involved the sale of 16,750,142 common shares at C$0.35 each, with Beacon Securities Limited as the lead agent. Insiders purchased 3,007,142 shares, exempt from minority approval requirements. Proceeds will fund the Cabaçal Project Preliminary Economic Assessment, exploration, property payments, and general working capital. Executive Chairman Gilbert Clark expressed gratitude to shareholders for their support.
Meridian Mining UK S (OTCQB: MRRDF) announced the results of its General Meeting of Shareholders on December 30, 2022, where 73,819,095 common shares (40.39% of total shares) were voted. Key resolutions included authorizing the Board to allot shares and disapply pre-emptive rights, both receiving over 99% approval. Additionally, since October 1, 2022, Meridian has seen the exercise of 4,484,063 warrants, generating CAD $1.345 million for ongoing resource exploration and general working capital. Currently, 186,083,619 shares are outstanding.
Meridian Mining UK S (OTCQB:MRRDF) announced a significant increase in its private placement offering to approximately C$5.9 million from C$3.25 million, priced at $0.35 per common share. Led by Beacon Securities Limited, the offering includes a 6% cash commission and 3% compensation options for agents. Proceeds will fund the Cabaçal Project and general corporate costs. The offering's closure has been postponed to December 30, 2022 pending shareholder approval. Importantly, insider purchases could total up to 3,007,142 shares.
Meridian Mining UK S has filed a National Instrument 43-101 Technical Report detailing the mineral resource estimate for the Cabaçal VMS deposit in Mato Grosso, Brazil. This report, prepared by experts from H&S Consultants and others, confirms that there are no material changes from the previously released information on September 26, 2022. Meridian continues to focus on resource development in Brazil, particularly the Cabaçal copper-gold project and related exploration activities.
Meridian Mining UK S (OTCQB: MRRDF) has announced new assay results from the Cabaçal gold-copper VMS deposit, revealing significant high-grade gold and copper trends. Highlights include:
- 13m @ 3.4 g/t Au and 0.9% Cu
- 8.8m @ 4.8 g/t Au
- Peak gold interval of 70.1 g/t Au
This drilling confirms shallow high-grade trends and indicates potential for future resource estimates. The updated resource is scheduled for Q2 2023, with ongoing exploration targeting broader mineralization.
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