Ademir Curral and 5 other targets now available for 2019-2020 exploration & extraction scheduling
LONDON, Sept. 9, 2019 /CNW/ - Meridian Mining SE (TSXV: MNO) ("Meridian" or the "Company") today announces that it has been granted a Guia de Utilização permit No. GU nº 02/2019 (the "GU") for its Espigão manganese project by the Agência Nacional de Mineração ("ANM"), valid until 6th of March 2021 (Figure 1). The GU allows for the extraction 6,000t of Manganese oxide ("MnOx") concentrate per annum from the exploration license that covers the Ademir Curral, Sevirino, João Sarter, Ivan Pufal, Domicio Gerque and Antônio Gomes East targets of the Espigão project. Some of these prospects have been partially mined for colluvial material in the past. Thanks to approval of the final report and granting of the GU, trial extraction of additional MnOx mineralization can now be resumed and exploration commenced.
These prospective areas for colluvial and saprolite vein MnOx mineralisation are also adjacent to the Rio Madeira processing plant. It is forecasted that material extracted from the GU will be pre-processed at Rio Madeira and then a pre-concentrate will be trucked to the Jaburi for final up-grading.
Mr Clark, Interim CEO & President, states, "The Espigão team has achieved a great result in opening up another key area for extraction. In late 2018, the Espigão team was guided towards an integrated management approach for handling the various approvals needed to sustain production. Today the Company is able to demonstrate this success via the timely granting of the Ademir Curral GU."
The licence's mineral occurrences comprise colluvial and vein style manganese oxide mineral occurrences typical of the region. Structural trends include the WSW extension of the productive Vitalino - Califórnia - Eduardo Mendes Trend, which has hosted some of the larger colluvial deposits and continues to be a focus for extraction, with a dry screen operating in the California area. A NW-trending structure extends from the mining lease (Lavra) on the southern side onto the southern sector of the tenement. In the Ademir Curral target area, the structure assumes an arcuate trend, swinging to the north then north-east. A wider package of veining is developed in the north-striking sector of the vein system. The fracture pattern potentially reflects a ring-like structure outboard of the radiometric high (Figure 2) in the centre of the project area. Further radiometric highs occur in the northern sector of the licence area along the 14 Abril Trend (also known for tin mineralization along its extensions). This area remains under evaluation. The area also incorporates an interesting transition to more elevated base metal contents associated with the northern vein systems. Work to develop a better understanding of the deeper polymetallic potential of the licence area will be incorporated into the renewed exploration program.
The technical information about the Company's exploration activity has been reviewed and approved under the supervision of and verified by Dr. Adrian McArthur (B.Sc. Hons, PhD. FAusIMM), the Chief Geologist of Meridian Mining, who is a "qualified person" within the meaning of National Instrument 43-101.
On behalf of the Board of Directors of Meridian Mining SE
Meridian Mining SE is focused on the acquisition, exploration, development and mining activities in Brazil. The Company is currently focused on exploring and developing the Espigão manganese and polymetallic project, the Mirante da Serra manganese project, Ariquemes Exploration Portfolio and the Bom Futuro tin JV area, and adjacent areas in the state of Rondônia. Meridian is currently producing high grade manganese at its project located at Espigão do Oeste.
Some statements in this news release contain forward-looking information or forward-looking statements for the purposes of applicable securities laws. These statements include, among others, statements with respect to the Company's plans for exploration and development of its properties and potential mineralization. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such risk factors include, among others, failure to obtain regulatory approvals, failure to complete anticipated transactions, the timing and success of future exploration and development activities, exploration and development risks, title matters, inability to obtain any required third party consents, operating hazards, metal prices, political and economic factors, competitive factors, general economic conditions, relationships with strategic partners, governmental regulation and supervision, seasonality, technological change, industry practices and one-time events. In making the forward-looking statements, the Company has applied several material assumptions including, but not limited to, the assumptions that: (1) the proposed exploration and development of mineral projects will proceed as planned; (2) market fundamentals will result in sustained metals and minerals prices and (3) any additional financing needed will be available on reasonable terms. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation.
The Company cautions that it has not completed any feasibility studies on any of its mineral properties, and no mineral reserve estimate has been established. In particular, because the Company's production decision relating to Meridian Mineraçao Jaburi S.A, manganese project is not based upon a feasibility study of mineral reserves, the economic and technical viability of the Espigão manganese project has not been established.
The TSX Venture Exchange has neither approved nor disapproved the contents of this news release. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.