Meridian Completes Cabacal DFS Drill Program with Strong Results and Advances Regional Exploration
Executive Summary
- Meridian Mining announced high‑grade Au‑Cu‑Ag intersections from the final phase of Cabaçal DFS drilling, including multiple > 4 g/t AuEq intervals and a standout 0.9 m @ 36.8 g/t AuEq (27.3 % CuEq).
- Greenfield drilling at the newly defined Cigarra VMS prospect returned precious‑metal grades up to 1.5 g/t Au and 12.1 g/t Ag, with base‑metal Zn enrichment, indicating potential bulk‑tonnage gold discovery adjacent to Cabaçal.
- The results are expected to feed into resource and reserve upgrades for the Cabaçal project in 2026 and support continued exploration funding (CAD 60 M cash on hand).
Key Details
- Cabaçal – Hole CD‑760
- 27.5 m @ 1.9 g/t AuEq (1.4 % CuEq) from 98.4 m
- Includes 0.9 m @ 36.8 g/t AuEq (27.3 % CuEq) at 105.1 m
- Includes 4.5 m @ 2.3 g/t AuEq (1.7 % CuEq) at 112.6 m
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12.8 m @ 4.9 g/t AuEq (3.6 % CuEq) from 131.3 m, with a sub‑interval of 6.4 m @ 8.2 g/t AuEq (6.1 % CuEq).
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Cabaçal – Hole CD‑752
- 37.6 m @ 0.5 g/t AuEq (0.3 % CuEq) from 19.4 m
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32.2 m @ 1.2 g/t AuEq (0.9 % CuEq) from 87.9 m, including 3.1 m @ 6.5 g/t AuEq (4.8 % CuEq) at 105.9 m.
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Cabaçal – Hole CD‑743
- 24.5 m @ 1.9 g/t AuEq (1.4 % CuEq) from 40.3 m
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Includes 9.4 m @ 4.4 g/t AuEq (3.3 % CuEq) at 50.0 m (mining voids intersected).
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Additional Cabaçal Intersections (selected)
- CD‑748 (SCZ): 22.5 m @ 0.7 g/t AuEq, 2.9 m @ 2.9 g/t AuEq, 16.4 m @ 1.0 g/t AuEq.
- CD‑745 (SCZ): 17.9 m @ 1.1 g/t AuEq, including 8.1 m @ 1.9 g/t AuEq.
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CD‑733 (CCZ): 5.6 m @ 3.5 g/t AuEq, 20.7 m @ 0.8 g/t AuEq, etc.
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Cigarra Greenfield Drilling – Hole CD‑776
- 3.1 m @ 0.5 g/t Au, 6.2 g/t Ag, 0.1 % Zn from 69.9 m.
- Sample with 2.5 % Zn over 0.6 m at 75.1 m.
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Peak precious‑metal grades: 1.5 g/t Au and 12.1 g/t Ag over 0.8 m (CBDS112667).
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Exploration Context
- Cigarra targets a 2 km strike VMS trend, previously untested; early results mirror gold‑dominant layers of Cabaçal.
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Geochemical anomalies: up to 722 ppm Cu, 180 ppb Au, 1 211 ppm Zn in soils; pyrite halo and Au‑Ag correlations observed.
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Technical & QA/QC
- Samples analyzed at ALS (Lima) using fire assay, gravimetric finish for high‑grade gold, ICP‑AES for base metals.
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~5 % of samples sent to umpire labs; true width considered 80–90 % of interval.
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Qualified Person
- Erich Marques, B.Sc., FAIG – Chief Geologist, NI 43‑101 Qualified Person.
Notable Quotes
“The final phase of drilling at Cabaçal has been completed… positioning Meridian perfectly to benefit from strengthening commodity prices.” – Gilbert Clark, CEO
“Initial exploration results at Cigarra show good grades of gold and silver… may have the potential for a future bulk‑tonnage gold discovery.” – Gilbert Clark, CEO
All forward‑looking statements are subject to risks and uncertainties as described in the release.