Slide 1: Espigão Polymetallic Project Technical Presentation
MERIDIAN MINING UK S ESPIGÃO POLYMETALLIC PROJECT TECHNICAL PRESENTATION
Slide 2: Cautionary Note Regarding Forward-Looking Statements
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS This presentation does not constitute or form a part of, and should not be construed as an offer, solicitation or invitation to subscribe for, underwrite or otherwise acquire, any securities of Meridian Mining UK Societas (“Meridian”), nor shall i
Slide 3: Espigão Project
ESPIGÃO PROJECT Polymetallic targets established: Diverse vein / breccia system associated with Proterozoic A-type granite complex. • Auriferous quartz-pyrite veins. • Extensive manganese / iron oxide breccia systems at surface: • Interpreted to be a high-level expression of deeper- rooted polymetal
Slide 4: Espigão Based on Geophysics, Geochemical, Geological & Drill Data
ESPIGÃO BASED ON GEOPHYSICS GEOCHEMICAL GEOLOGICAL & DRILL DATA 4
Slide 5: Geology
GEOLOGY - Tectonic Setting - CPRM Mapping and Classification - Lithogeochemistry
Slide 6: Regional Setting – Amazon Craton
REGIONAL SETTING – AMAZON CRATON The Amazon Craton consists of an Archean nucleus and westward-accreting to Proterozoic terranes. Areas of crystalline basement hosting metalliferous provinces are separated by Proterozoic – Phanerozoic basins. The craton is known for its significant endowment, hostin
Slide 7: Southern Amazon Craton – Tectonic Domains
SOUTHERN AMAZON CRATON – TECTONIC DOMAINS Espigão: located in the Rondônia-Juruena Province, Juruena Domain Analogues in basement architecture with the Jaca copper discovery: • located proximal to a NW-trending domain-bounding structure. • located proximal the hinge zone of the intra-cratonic Pareci
Slide 8: Geological Surveying – Mapping and Dating
GEOLOGICAL SURVEYING – MAPPING AND DATING Government maps over Espigão are regional sacled (1:1M). Tropical weathering limits mapping. The CPRM is still building geochemical & geochronological databases to resolve relationships. Comments on the principal units, as officially shown: Western sector: S
Slide 9: Southern Amazon Craton – Tectonic Domains
SOUTHERN AMAZON CRATON – TECTONIC DOMAINS “Evolving geological understanding” Detail: After CPRM (2007), Geology of Rondonia, 1:1,000,000 Overview - After CPRM (2007) & Santos (2003; tectonic units) With dates from geochronology data superimposed. 9
Slide 10: Physiography
PHYSIOGRAPHY Areas of higher elevation represent a lateritized palaeosurface (Planalto Dissecado Sul da Amazônia), which obscures bedrock and hinders the effectiveness of surface mapping. Steeper slopes locally provide intermittent exposure to windows of fresh rock where more resistant granite tors
Slide 11: Host Rock Succession
HOST ROCK SUCCESSION The Company has conducted provisional evaluation of the host rock succession, with 52 samples from the fresher granitoid outcrops sent to ALS Canada for lithogeochemistry. The study is not definitive, with opportunities to extend coverage and integrate further geochemistry with
Slide 12: Host Rock Geochemistry
HOST ROCK GEOCHEMISTRY The samples collected plot as monzo-granites to quartz monozites, based on calculation of CIPW norms from whole rock chemistry Using the TAS classification approach, the samples similarly plot in the granite – quartz monazite field. Petrographic / mineralogical work would be r
Slide 13: Host Rock Geochemistry
HOST ROCK GEOCHEMISTRY The samples predominantly span the calc-alkalic / alkali-calcic fields, based on the SiO2 vs. Na2O+K2-CaO plot. Frost, B. Ronald, et al. "A geochemical classification for granitic rocks."Journal of petrology 42.11 (2001): 2033-2048. The samples predominantly lie in the Ferroan
Slide 14: Host Rock Geochemistry
HOST ROCK GEOCHEMISTRY Tectonc discrimination diagram plot the samples mostly in the “within-plate” granite field. Pearce, J.A., Harris, N.B.W., and Tindle, A.G., 1984, Trace element discrimination diagrams for the tectonic interpretation of granitic rocks: Journal of Petrology, v. 25, p. 956-983. 1
Slide 15: Host Rock Geochemistry
HOST ROCK GEOCHEMISTRY The K/Rb vs SiO2 Ratio Plot is useful for showing the evolution and degree of fractionation of granite suites. Samples from the Espigão collection plot in the range generally taken to reflect a moderate to strong degree of igneous evolution. The steep decrease in K/Rb ratio wi
Slide 16: Host Rock Geochemistry
HOST ROCK GEOCHEMISTRY The Rb/Sr ratio also provides an indicator of fractional crystallisation processes, reflecting the partitioning of compatible/incompatible element ratios. Samples from the Espigão collection show a spread of values, most clustering with a Rb/Sr ratio above 1.0 The data is agai
Slide 17: Host Rock Geochemistry
HOST ROCK GEOCHEMISTRY Harker Diagrams Samples loosely grouped based on field characteristics. Left: Major Oxides Right: Minor Elements Clusters are generally consistent with fractionation trends (two possible outliers in the major oxide field) 17
Slide 18: Host Rock Geochemistry
HOST ROCK GEOCHEMISTRY Spider diagrams normalized against primitive mantle show that feldspars and iron oxides were fractionated from the magmas Negative barium, europium – fractionation of feldspar Negative titanium – fractionation of iron – titanium oxides 18
Slide 19: Host Rock Geochemistry
HOST ROCK GEOCHEMISTRY The granites are mainly peraluminous, a characteristic are normally associated with S-type granites. However, a plot of P2O5 vs. SiO2 shows a negative correlation between the two - a characteristic of metaluminous suites. 19
Slide 20: Host Rock Geochemistry
HOST ROCK GEOCHEMISTRY Plots based on Ga/Al ratio vs. alkali metals and K/Mg ratios place the granites in the “A-type” field. Whalen, Joseph B., Kenneth L. Currie, and Bruce W. Chappell. "A-type granites: geochemical characteristics, discrimination and petrogenesis."Contributions to mineralogy and p
Slide 21: Host Rock Geochemistry
HOST ROCK GEOCHEMISTRY A type granites have been divided into two types - A1-type anorogenic granites, related to sources that are like ocean island basalt. A2-type anorogenic granites, related to arc-type sources or average continental crust. The samples of the Espigão project are distributed predo
Slide 22: Host Rock Geochemistry
HOST ROCK GEOCHEMISTRY A type granites are crystallization products of high temperature melts, at levels not normally achieved in the crust. The involvement of mafic magmas, or high mantle heat flow, is considered a necessary factor to achieve these conditions The data is consistent was derivation o
Slide 23: Comparison Plots of Granitoid Samples from Roxby Downs
COMPARISON PLOTS OF GRANITOID SAMPLES FROM ROXBY DOWNS Spider Diagrams; showing similar patterns in Eu, Ti, Ba, Nb Samples plotting in the A2 field of Eby, 1992 2 Aluminum saturation index Al/((Ca-3.33*P)+Na+K) 1.5 PERALUMINOUS : AL>CA+NA+K 1 METALUMINOUS : AL<CA+NA+K AL>NA+K 0.5 0 45 50 55 60 65 70
Slide 24: Comparison Plots of Granitoid Samples from Roxby Downs
COMPARISON PLOTS OF GRANITOID SAMPLES FROM ROXBY DOWNS (Data of Creaser, 1996) Granites Transitional from A to I field on Whelan et al plot. Samples plotting in the A2 field of Eby, 1992 24
Slide 25: Examples of Espigão Granite Specimens
EXAMPLES OF ESPIGÃO GRANITE SPECIMENS 25
Slide 26: Hydrothermal Systems & Mineralization
HYDOTHERMAL SYSTEMS & MINERALIZATION - Overview of assemblages and zonation - Iron oxide breccias - Manganese veins - Gold-bearing quartz-pyrite veins - Quartz veins - Greisen
Slide 27: Vein Systems – Diverse Metal Assemblage
VEIN SYSTEMS – DIVERSE METAL ASSEMBLAGE A diversity of vein styles and hydrothermal alteration is Feox / Mnox / base metal / Au / REE evident across the project Metal assemblages show variation from site to site. The Company’s preferred model is that the metals form part of a progressive event, asse
Slide 28: Vein Systems – Metal Zonation
VEIN SYSTEMS – METAL ZONATION Although polymetallic potential has been recognized, exploration by Meridian to date has been largely focussed on shallow definition of the manganese oxide component of the vein systems (to support production of a niche high-grade Mn oxide product). Average drill hole d
Slide 29: Iron-Oxide Breccias
IRON – OXIDE BRECCIAS Drilling w historically focused on the manganese mineralization, but one drill site encountering a system of iron-oxide breccias is the “Gracioso” target. In this position, a single hole was located at the SE end of a large conductivity anomaly (900m strike length). Some float
Slide 30: Iron-Oxide Breccias
IRON – OXIDE BRECCIAS Gracioso Core and Rock Sampes Left: DDH_GR_001: 15.85m @ 0.9% MnO2, 5.2% Fe2O3, 130ppm U, 0.13ppm Te, 3.4ppm Ag, 91 ppm La from 4.55m Below: Continuation of breccia system: Tray 36: 101.5 – 104.3m: 30
Slide 31: Iron-Oxide Breccias
IRON – OXIDE BRECCIAS Within the Gracioso package, an interval of fine laminated material was unexpectedly encountered, with the flinty appearance of an ash horizon. Possibly this could represent a fluidised fine grained horizon within a phreatic breccia pipe, or more likely a bedded sediment or ash
Slide 32: Iron-Oxide Breccias
IRON – OXIDE BRECCIAS Iron oxides breccias project along the strike-extensions of the manganiferous structures. At times, the ferruginous breccia zones are also seen to envelop the Mn oxide veins (Left, DDH_VT_014: - 55.15 - 69m, and below). Manganese oxides, overprinting and brecciating earlier qua
Slide 33: Manganese Oxide Vein / Breccia Systems
MANGANESE OXIDE VEIN / BRECCIA SYSTEMS The distribution of Mn oxide occurrences has been outlined by mapping of colluvial boulder trails, coupled with pitting, auger drilling and trenching define areas for extraction (the district has produced over 200,000t of Mn oxide concentrates since 2007 for sa
Slide 34: Manganese Veins
MANGANESE VEINS Clockwise from bottom left: Antônio Gomes prospect (vein and stockwork), Eduardo Mendes Prospect (stockwork) and of acicular manganese oxide crystal morphology. Fans are typically nucleated on vein walls, or internal breccia fragments. 34
Slide 35: Quartz Veining
QUARTZ VEINING Although quartz veins also occupy the same structure as the oxide phases, there are indications of a chemical / temporal transition between the mineral phases. In some areas, the manganese in seen be deposited interstitially in voids in the quartz – infilling laminated bands with dog-
Slide 36: Link to Igneous Trigger?
LINK TO IGNEOUS TRIGGER ? In addition to multi-phase mineral assemblages, the host structures are also at times occupied by mafic (to ultramafic?) dykes and felsic dykes. Alteration and weathering often overprint these units. It may be that these dykes are simply exploiting lines of weakness, but it
Slide 37: Link to Igneous Trigger?
LINK TO IGNEOUS TRIGGER ? In one diamond drill hole with better textural preservation, (DDH_EM_012 shown here from 44.85 - 69.71m), the assays (next page) and textural intergrowths suggest a possible link between the manganese and system of dykes. Magma-mixing is one mechanism to force a metal satur
Slide 38: Link to Igneous Trigger?
LINK TO IGNEOUS TRIGGER ? Cross section from DDH_EM_012 38
Slide 39: Link to Igneous Trigger?
LINK TO IGNEOUS TRIGGER ? Assay table from DDH_EM_012: 11.45 to 59.55m MnO2 Pb Cu MgO CaO Fe2O3 BaO P2O5 TiO2 Sr Ni Cr SiO2 Al2O3 K2O Na2O LOI HOLE_ID MFROM MTO pct pct pct pct pct pct pct pct pct ppm ppm ppm pct pct pct pct pct DDH_EM_012 11.45 12.5 1.2 0.00 0.01 0.31 0.0 3.3 0.1 0.05 0.27 22 4 4 7
Slide 40: Link to Igneous Trigger?
LINK TO IGNEOUS TRIGGER ? Assay table from DDH_EM_012: 59.55 to 71.25 m MnO2 Pb Cu MgO CaO Fe2O3 BaO P2O5 TiO2 Sr Ni Cr SiO2 Al2O3 K2O Na2O LOI HOLE_ID MFROM MTO pct pct pct pct pct pct pct pct pct ppm ppm ppm pct pct pct pct pct DDH_EM_012 59.55 60.6 1.6 0.19 0.11 9.47 2.4 14.6 0.2 0.23 2.16 115 11
Slide 41: Wall Rock Alteration
WALL ROCK ALTERATION Wall-rock alteration is variable. Some of the narrower vein systems have a minimal alteration selvedge. In some areas, wall rock show silicification (likely related to the early generation of quartz veining). In other areas, and veins are associated with an argillic alteration e
Slide 42: Gold +/- Copper Bearing Quartz-Pyrite Veins
GOLD +/- COPPER BEARING QUARTZ-PYRITE VEINS Continuing on the diversity of mineralization styles, two main areas with gold in steam / gold in soil anomalies have been defined in geochemical programs to date. One on these, the Coice de Cobra target, has been tested with a provisional drilling and tre
Slide 43: Coice de Cobra Project Lithologies
COICE DE COBRA PROJECT LITHOLOGIES Symplectitic texture Porphyritic granite Magnetite-rich granite Sericite alteration inferruginous matix + prismatic qtz, (open-space fill) Banded dyke with magnetc, Rhyolite Dkye Mafic Dyke Coarse granite; hematized mafic minerals
Slide 44: Gold Anomalies, Geophysical Setting
GOLD ANOMALIES, GEOPHYSICAL SETTING Top Left: Overview of pan- concentrate sampling, superimposed on histogram- equalized HeliTEM magnetics, showing similar sigmoidal pattern. Top right: Mineral deposits of the Carajas Region, associated with the distinctive sigmoidal structure, expressed here in el
Slide 45: Bucky Quartz Veins
BUCKY QUARTZ VEINS The earliest phase interpreted to be occupying the structural vein array in the project area is a generation of milky quartz veins. These are generally massive and appear to represent a precursor, mesothermal vein set. The Company is commencing a soil XRF program to determine whet
Slide 46: Context of Manganese in Hydrothermal Settings
CONTEXT OF MANGANESE IN HYDROTHERMAL SETTINGS Manganese is mobile, travelling to the upper levels of hydrothermal systems Fe-Mn breccia; (and forming part of exhalative systems along with Fe, Ba, Si, P). Faina Belt, Brazil, It is a common component of intrusive-related / porphyry / epithermal Schiev
Slide 47: Greisen Discovery
GREISEN DISCOVERY A number of heavy mineral concentrates in the northern and eastern part of the project area returned cassiterite. The primary source of this mineralization had been elusive, but last year a greisen was located to the east of the Antônio Gomes manganese prospect. 47
Slide 48: Geophysics
GEOPHYSICS - Inverse Polarisation. - Gravity - Airborne Electromagnetics
Slide 49: Geophysical Surveys
GEOPHYSICAL SURVEYS Project area lies within the CPRM “Rio Machado” survey area – 400m line spaced magnetic-radiometric data, flown in 2009. In 2015, the CGG / LASA Prospecções S.A. flew a HELITEM survey, covering 61% of the Project area at 100m line spacings. Select prospect-scale ground orientatio
Slide 50: Ground Orientation Surveys
GROUND ORIENTATION SURVEYS Example of IP Survey • Vein corridors expressed as resistivity lows (conductive zones). • Chargeability highs developed within corridor and in flanking positions. IP orientation survey, Sao Filipe. 50
Slide 51: Ground Orientation Surveys
GROUND ORIENTATION SURVEYS Example of Gravity orientation survey • Variable Bouger response associated with manganese vein propect Gravity orientation survey, Ademir Curral 51
Slide 52: Magnetic Inversion
MAGNETIC INVERSION Many anomalies are co-incident with the subsurface projection of conductors modelled from electromagnetic survey data. Results point to a much more intricate architecture to the intrusive system than first thought Figure 1. Magnetic anomalies are found along the same regional stru
Slide 53: Obrigado!
OBRIGADO! 53