Meridian Mining UK S Outlines Post-Financing Strategy for Cabaçal Project

LONDON, UK - Meridian Mining UK S has announced its operational plan through the end of 2024 for the Cabaçal copper-gold-silver VMS project in Mato Grosso, Brazil, following a successful CAD20.125M financing. The financing bolsters the company's drilling and engineering programs essential for the Cabaçal Mine's Pre-Feasibility Study (PFS). Additionally, Meridian disclosed the commencement of the next phase of resource drilling at Santa Helena and initial metallurgical studies.

With new funding, the company is expediting multiple exploration and development programs. Notably, the rapid acceleration of their summer drilling program involves mobilizing five diamond drill rigs, with three operating in double shifts. These efforts aim to complete the PFS drill program and deliver critical data from the Cabaçal and Santa Helena sites within the third quarter.

Meridian is not only focusing on immediate site development but also expanding its regional exploration activities. This includes geochemical and geophysical programs intended to extend drilling targets across the Cabaçal belt throughout 2024. The company's exploration strategy is supported by ongoing evaluations and the potential significant untapped resources still to be delineated in the region.