Meridian Mining has announced its first mineral resource estimate for the Cabal volcanogenic copper-gold-silver massive sulfide deposit in Mato Grosso.
Meridian said the estimate comprises Indicated Resources of 52.9 Mt @ 0.6 g/t Au, 0.3% Cu and 1.4 g/t Ag plus Inferred Resources of 10.3 Mt @ 0.7 g/t Au, 0.2% Cu and 1.1 g/t Ag at a cut-off grade of 0.3 g/t AuEq. The mineral resource estimate was provided by specialist group H&S Consultants.
Today’s Mineral Resources publication confirms that Meridian Cabaçal’s copper-gold-silver project is one of the most significant resources held by the company in the area of the volcanogenic massive sulfide belt
, commented Gilbert Clark, Executive Chairman, and Adrian McArthur, CEO and President.
Meridian’s technical team has done an outstanding job in delivering this resource in just 18 months since drilling began. The work done by the company demonstrates that the Indicated Resource category 1.1 million ounces of gold, 168,000 tonnes of copper and 2.4 million ounces of silver are amenable to processing by conventional flotation and gravity processes
The company said the resource is near surface and extends for 1.9 km, with a prominent high-grade shallow gold zone in the northwest extension of Cabaçal. It pointed out that ongoing drilling on the margins of the resource has intercepted strong zones of copper-gold mineralization, with further drill results still pending.
The resource is located in shallow depths and shows excellent potential for a long term standalone open pit in the upper part of the Cabaçal belt. Continued drilling has been very positive and we look forward to the future development and growth of Cabaçal, they added.
Local Geology
Located in Mato Grosso state in Brazil, the property is geologically located in the Proterozoic Jaurú-Santa Helena domain on the southwestern margin of the Amazon Craton.
It consists of several exploration and mining licenses that host 50 kilometers of strike of Proterozoic metamorphosed volcano-sedimentary stratigraphy, prospective for volcanogenic massive sulfide mineralization.
Exploration History
BP Minerals originally identified the exploration potential of the belt in the 1980s and completed substantial exploration work, including the discovery and development of the Cabaçal Au-Cu-Ag mine (then known as the Manati mine), which opened in 1987.
Rio Tinto acquired BP Minerals in 1989 and retained ownership for two years before ceasing production in 1991 and withdrawing from exploration in the general area.
There is no current mining activity in the project area and Meridian’s objective is to conduct resource definition programs and open pit mine development studies focused on the Cabaçal Cu-Au-Ag mine and its extensions.
The company is also conducting exploration within the broader belt for new discoveries.
Source: Brasil Mineral
