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Meridian Mining Completes Due Diligence and Proceeds with Investment in Tin Project in Rondônia, Brazil
Meridian Mining Completes Due Diligence and Proceeds with Investment in Tin Project in Ron...
About this update from Meridian Mining Plc
[{"type":"text","content":"\n\n\n\nMeridian Mining Completes Due Diligence and Proceeds with Investment in Tin Project in Rondônia, Brazil\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nAMSTERDAM, March 16, 2017\n\n\n\n\nPositive due-diligence confirms potential for tailings reprocessing and regional exploration \nTailings Reprocessing Area expanded to more than 875ha\n\n\nAMSTERDAM, March 16, 2017 /CNW/ - Meridian Mining S.E. (TSX V: MNO) (\"Meridian\" or the \"Company\"), today announced that, through its wholly-owned subsidiary Meridian Mineração Jaburi S.A. (formerly named Brasil Manganês Corporation Mineração S.A.) (\"Meridian Brasil\"), it has successfully completed its due diligence on the Bom Futuro tin joint venture in the state of Rondônia, in Northwest Brazil and has notified the Cooperativa de Garimperiros de Santa Cruz Ltda. (\"Coopersanta\") and Cooperativa Metalúrgica de Rondônia Ltda. (\"Coopermetal\") (together the \"Cooperatives\"), that Meridian Brasil will proceed with the transactions contemplated in the investment agreement (the \"Investment Agreement\") previously announced on December 19, 2016. \n\n\n \n \n\n \nDue Diligence\n\nMeridian Brasil has completed the preliminary technical audit of the Tailings Area and has completed initial exploration on the Central Area and the Non-Explored Area. Initial results were announced in the news release dated February 15, 2017. Key highlights to date include:\n\n\nTailings program: 361 auger holes have been completed. Peak composite grades of 0.13% tin. Encouraging thicknesses of tailings were encountered in the Jacare Leste area, where auger holes terminated still within tailings at depths of up to 10m. This area has been prioritized for initial resource evaluation, with percussion drilling commencing to penetrate the full thickness of the tailings profile. Maximum depths of 18m have been encountered where the tailings infilled older valley systems. \nExploration: The core drilling program has concluded with 11 holes completed for 1,288 metres. Results confirm...