Meridian Mining (LSE:MNO), the gold-copper developer focused on the Cabaçal VMS belt in Mato Grosso, Brazil, has intercepted a second volcanogenic massive sulphide (VMS) layer at its Santa Helena project, including the first occurrence of visible gold within the Santa Helena mineralised system.
Drill hole CD-869 returned 7.2 metres at 1.4 grams per tonne (g/t) gold, 24.3 g/t silver, 2.3% zinc and 0.9% lead from 177.6 metres depth, with a higher-grade sub-interval of 6.2 metres at 1.6 g/t gold from 178.1 metres.
The new zone sits more than 330 metres down-dip from the shallower CD-859 gold intersection, and is interpreted as the down-dip extension of the Santa Helena North chargeability anomaly, a geophysical feature extending approximately one kilometre that remains open to the west.
Metal distribution in CD-869, with elevated zinc relative to copper, suggests a distal domain of a broader VMS system, with follow-up drilling designed to test variations in copper-to-zinc ratios along strike.
Separately, Meridian has received environmental clearance from Brazil's state agency SEDAM to begin reconnaissance drilling at its Espigão copper-gold targets, with a first drill phase planned for the coming months.
The company said it will await further drilling and metallurgical results before initiating the next resource assessment at Santa Helena.
