Meridian Mining S.E. has reported an update on its exploration activities on its Bom Futuro tin joint venture in Brazil.
As quoted in the press release:
- Tailings program accelerates: 212 auger holes have been completed with peak composite grades of 0.11% Sn (tin). The Jacaré Leste tailings area has been prioritized for initial resource evaluation. The first percussion holes here indicate this tailings pile is 3 to 18 metres thick, providing a good target for appreciable tonnage over the 177 hectares area.
- Primary targets emerging: The core drilling program is on its 6th hole, with 741 m completed. Coarse cassiterite has been observed in pegmatites and quartz veins. Initial samples have been dispatched to ALS Global for independent, third party analysis. Structurally controlled vein mineralization is being mapped on the Bom Futuro Hill and the Palanqueta Hill, 1.2 kilometres to the northeast. Reconnaissance field inspection confirms that surficial cassiterite occurrences extend to the immediate north of Palanqueta into the 18,000ha Non-Explored Area. Geophysical orientation surveys are in progress to assist in under-cover target definition.
“We are thrilled with the rapid progress and early outcomes of our initial work program,” said Anthony Julien, President and CEO of Meridian. “We have received excellent logistical support from Coopersanta, our joint venture partner. Together we believe there are excellent opportunities to apply modern technology to optimize recoveries and explore for new tin deposits in this important mining centre. Our goal is to finalize our technical audit ahead of the March 15, 2017 deadline to confirm our intention to exercise our option under the Investment Agreement.”