Meridian Announces the Discovery of Gold Mineralisation at Alamo and Reports Further High-Grade Results from Santa Helena Central
Meridian hits new gold frontier at Álamo, extending the Cabaçal belt’s prospectivity just as a dual LSE listing deepens its capital pool.
The most recent release dated May 14, 2026, announces a significant new discovery: gold mineralization at the Álamo prospect with intercepts including 3.5m @ 2.4g/t Au, 0.5% Cu. This is a newly defined mineralized position on a 1.6km trend adjacent to the Santa Helena infrastructure and remains open in all directions. Simultaneously, the company reported record peak grades from its Santa Helena Central infill drill program—up to 17.5 g/t Au, 311 g/t Ag, 11.6% Cu, and 22.1% Zn in individual assay samples—demonstrating the high-grade tenor of the polymetallic system.
The Álamo discovery represents a genuinely new and unexpected exploration result. While prior news highlighted geophysical anomalies and exploration targets, the actual intersection of economic-grade gold mineralization expands the regional upside of the Cabaçal belt beyond previously defined deposits. This discovery strengthens the thesis for a potential second operational hub at Santa Helena, as stated by the CEO. The record results at Santa Helena Central also exceed historical expectations, indicating significant upside to the pending resource estimate. This news is material because it provides factual evidence of belt-scale growth, de-risking the company’s long-term production outlook. The recent dual listing on the LSE provides the liquidity and capital market access to fund this expanding exploration and development pipeline, but the discovery itself is the core material event. It is not just a routine follow-up; it validates the belt-scale potential in a new location.
Meridian Mining is a UK-based public limited company (PLC) focused on developing its volcanogenic massive sulfide (VMS) belt in Mato Grosso, Brazil. Its flagship project is the Cabaçal gold-copper project, a past-producing mine. A Pre-Feasibility Study (PFS) announced in 2025 outlined robust economics for a mine restart: a post-tax NPV of $984M and IRR of 61.2% with an initial 10-year mine life producing 141koz AuEq annually. The pre-production capital cost is $248M. A Definitive Feasibility Study (DFS) is underway and targeted for completion in Q4 2026. The company is advancing permitting, having received the Preliminary Licence, and is working toward the Installation Licence. A second key project is Santa Helena Central, where infill drilling is progressing towards a maiden resource. The company is executing a belt-scale exploration strategy to define additional deposits like Álamo and Cigarra.