Promising Results for Meridian Mining's Drilling Program at the Cabaçal Project

Meridian Mining UK S. (TSX:MNO), a London-based company, has revealed encouraging results from its ongoing drilling program as part of the pre-feasibility study (PFS) on its Cabaçal gold, copper, and silver deposit. The program has identified several extensive zones containing high-grade cores, with results including 25.8 meters at 1.4 g/t AuEq and 15.3 meters at 1.7 g/t AuEq.

Furthermore, current geotechnical studies suggest the possibility of increasing the pit wall angles at the Cabaçal mine, which could significantly reduce the strip ratio. These advancements serve to enhance confidence in the company's flagship project and its ability to upgrade in-pit resources to higher categories.

The reported gold and copper mineralization zones underline the economic potential of the Cabaçal deposit, based on a 2023 PEA demonstrating an after-tax NPV of $573 million and a 58.4% IRR, due in part to a low initial capital intensity and a strip ratio of 2.1:1. The current study aims to continue the project's development and exploration, with the goal of showcasing Cabaçal's potential as a standalone mine in the 50 km VMS belt.