Welcome to our dedicated page for Meridian Mining Uk Societas news (Ticker: MRRDF), a resource for investors and traders seeking the latest updates and insights on Meridian Mining Uk Societas stock.
About Meridian Mining UK Societas (MRRDF)
Meridian Mining UK Societas (OTCQX: MRRDF) is a mining company focused on the exploration and development of copper, gold, and silver resources in Brazil. With a strategic emphasis on the prolific Cabaçal VMS belt in Mato Grosso, the company is advancing its flagship Cabaçal copper-gold-silver project, a volcanogenic massive sulfide (VMS) system that has shown significant resource potential through modern exploration techniques.
Flagship Project: Cabaçal VMS Belt
The Cabaçal project is a high-grade copper-gold-silver VMS deposit with a history of production and untapped exploration potential. Meridian employs advanced geophysical and geochemical techniques to identify and expand mineralized zones. The project features multiple stacked layers of base and precious metal mineralization, making it a cornerstone of the company's growth strategy. The recent Pre-Feasibility Study (PFS) has highlighted favorable metrics, including low operating costs and high metallurgical recovery rates, underscoring its economic viability.
Santa Helena and Regional Exploration
In addition to Cabaçal, Meridian is developing the Santa Helena Au-Cu-Ag-Zn deposit, which has demonstrated robust high-grade mineralization. The company is also conducting regional exploration across the 50km-long Cabaçal VMS belt, targeting new discoveries to support its hub-and-spoke development model. This strategy aims to establish multiple mining operations feeding centralized processing facilities.
Business Model and Market Position
Meridian's business model focuses on leveraging historical data, modern exploration techniques, and strategic financing to advance projects from exploration to production. The company operates in a low-cost environment with strong local partnerships, positioning it as a key player in Brazil's mining sector. Its focus on copper aligns with global trends in renewable energy and electrification, while gold and silver provide additional revenue streams.
Industry Significance
Operating in the growing base and precious metals markets, Meridian addresses the increasing demand for copper in renewable energy technologies and infrastructure. Its projects contribute to the sustainable supply of critical materials, aligning with global efforts to transition to a low-carbon economy.
Why Meridian Mining Stands Out
- Strategic Location: Operates in the mineral-rich Mato Grosso region of Brazil.
- Proven Resources: Significant high-grade copper, gold, and silver mineralization confirmed through modern exploration.
- Advanced Studies: Comprehensive PFS and ongoing feasibility studies demonstrate project viability.
- Exploration Upside: Untapped potential across the Cabaçal VMS belt and nearby greenstone belts.
Meridian Mining UK Societas is poised to become a leading copper-gold-silver producer, leveraging its technical expertise, strategic assets, and commitment to sustainable mining practices.
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.
Meridian Mining UK S has announced its maiden Mineral Resource estimate for the Cabaçal copper-gold-silver VMS Deposit in Mato Grosso, Brazil. The estimate includes Indicated Resources of 52.9 Mt @ 0.6g/t Au, 0.3% Cu, and 1.4g/t Ag, translating to 1.1 million ounces of gold. Additionally, Inferred Resources stand at 10.3Mt @ 0.7g/t Au. The deposit extends over 1.9km and features a high-grade zone. Ongoing drilling shows promise with strong mineralization and ongoing assessments for resource expansion.
Meridian Mining UK S (OTCQB: MRRDF) announced significant updates from its Cabaçal Mine Corridor exploration program, revealing a geophysical anomaly linking the C4-A gold-silver discovery to the Cabaçal copper-gold deposit, extending 1.8 km northwest. The recent Gradient Array Induced Polarization survey identified multiple charging responses, paving the way for upcoming drill programs. The company also delineated a new 6.5 km long copper-gold-silver C2 Trend, enhancing the exploration strategy. A maiden resource statement for Cabaçal is on track for late Q3 2022.
Meridian Mining UK S (OTCQB: MRRDF) has submitted its database on the Cabaçal copper-gold VMS deposit to H&S Consultants for a maiden resource estimate, anticipated by Q3 2022. This estimate incorporates data from 869 diamond drill holes, totaling 91,956 meters and 58,428 assays, and will help in engineering and financial studies. The company plans further drilling in 2023, targeting open zones of mineralization and near-mine targets. Positive metallurgical tests indicate potentially high recovery rates, which bodes well for the resource estimate.
Meridian Mining UK S has announced promising preliminary metallurgical results from its Cabaçal copper-gold project. The tests yielded a high-grade 29% copper concentrate with excellent recoveries of 94% for copper and 87% for gold. These figures significantly surpass historical resource assumptions, indicating strong open-pit potential. The metallurgical program is ongoing, aiming to validate high recoveries from the project's extensive mineralization. Meridian's results suggest efficiency in production methods and an environmentally friendly approach, which may enhance investor interest.
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