- Meridian Mining UK Societas (MNO) has discovered another high-grade gold vein set on the Cabaçal Northwest Extension
- New drilling results extended the copper-gold mineralization into sparely drilled areas
- Three rigs are active, focusing on extensions to the Cabaçal Mine area
- The company will release its first resource statement in September
- C4-A is a major new precious metal discovery with its high-grade gold-silver core
- Meridian Mining UK Societas (MNO) is down 3.33 per cent trading at $0.58 per share as of 1:32 p.m. ET
Meridian Mining UK Societas (MNO) has discovered another high-grade gold vein set on the Cabaçal Northwest Extension.
The company stated the new drilling results have further extended the copper-gold mineralization into sparely drilled areas. To further understand this, three rigs continue to remain active, focusing on extensions to the Cabaçal Mine area.
“The Cabaçal Northwest extension is now confirmed to host multiple vein sets of very high-grade gold overprinting the copper-gold VMS system, and we are confident more veins will be delineated… a new 2.3-metre gold vein grading at over half-an-ounce gold is significant, in being one of a new array of structures identified over the length of the CNWE,” Dr. Adrian McArthur, CEO and President of Meridian, said.
Dr. McArthur mentioned the company will release its first resource statement in September with the new high-grade veins, infill drilling, and the emerging layer of gold dominate mineralisation will go to towards volume potential.
One noteworthy spot, C4-A, is considered by Meridian to be a significant new precious metal discovery with its high-grade gold-silver core that has been extended 50 metres to the northwest and is open in all directions.
“C4-A discovery has the footprint to potentially become a major contributor to the Cabaçal project’s significant upside potential… results further confirm Cabaçal’s incredible potential to deliver new discoveries in this under-explored greenstone belt,” Dr. McArthur said.
Meridian Mining UK Societas (MNO) is down 3.33 per cent trading at $0.58 per share as of 1:32 p.m. ET.