PFS Drill Program Returns Multiple Wide Shallow Mineralized Intercepts At Cabaçal

PFS Drill Program Returns Multiple Wide Shallow Mineralized Intercepts At Cabaçal

LONDON, UK – Meridian Mining reported that the ongoing Pre-Feasibility Study (PFS) drill program continues to produce robust results at its Cabaçal Au-Cu-Ag deposit. Multiple wide zones with internal high-grade cores, such as CD-400’s 25.8m @ 1.4 g/t AuEq including 9.5m @ 2.9 g/t AuEq & CD-399’s 15.3m @ 1.7 g/t AuEq including 5.1m @ 4.0 g/t AuEq1. The ongoing PFS drill program continues with the aim to convert in-pit resources to higher classifications and increase confidence in the flagship Cabaçal project.

The Company is also reporting the results of the geotechnical studies that have potential to increase the Cabaçal’s pit wall angles that would deliver a meaningful reduction in the strip ratio. The northwestern limit of Cabaçal deposit remains open with a new cupriferous gossan outcrop defined. Further results from Cabaçal and Santa Helena are pending.

Strong results of gold-copper-silver mineralization including CD-400’s 25.8m @ 1.4 g/t AuEq including 9.5m @ 2.9 g/t AuEq reported by Meridian Mining Meridian drills zones of gold and copper at Cabaçal grading up to 9.5m @ 2.9 g/t AuEq, plus CD-399: 15.3m @ 1.7 g/t AuEq from 125.5m, including 5.1m @ 4.0 g/t AuEq from 126.1m, and CD-400: 25.8m @ 1.4 g/t AuEq from 48.0m – including 9.5m @ 2.9 g/t AuEq from 62.5m. CD-404: 20.4m @ 1.1 g/t AuEq from 101.2m. 3.8m @ 3.6 g/t AuEq from 113.5m.

Cabaçal’s current geotechnical studies suggest optionality to steepen pit walls to 54°. High likelihood that Cabaçal’s in-pit strip ratio may decrease below PEA’s 2.1:1, and northwestern limit of Cabaçal deposit remains open with new cupriferous gossan outcrop.

Gilbert Clark, CEO, said, ”These broad zones of open pitable mineralization, are the economic foundations of the industry leading Cabaçal economics, demonstrated in our 2023 PEA. Cabaçal’s forward momentum continues with our geotechnical studies indicating good potential for steepening the pit walls, (which may lower the strip ratio, and deliver a reciprocal economic benefit in the up-coming PFS). Finding a gossan outcropping at Cabaçal’s northwestern limit indicates that even after 2km of resource delineation success, near-mine extensions remain to be tested. When I look at the greater picture, I see tremendous potential for Cabaçal to emerge as another world-class Latin American VMS camp.”