UK headquartered- Meridian Mining received permission to start drilling activities at its Cabaçal project in Brazil. Cabaçal consists of two historical mines and hosts several base and precious metals said the company in a press release.
The Cabaçal mine was previously operated by BP Minerals in 1983 and a small-scale operation was run for selective high-grade underground gold mine from 1987-1991 and an extraction of 869,279mt at 5g/mt of gold and 0.82pc copper was reported.
The mine was later run by Rio Tinto after it acquired BP Mineral in 1989, however, the mine was decommissioned in 1991 when global commodity prices was hit. The mine was then held by a private Brazilian company until 2020 when Meridian acquired it.
Reports and studies show that Cabaçal VMS Copper-Gold project is enriched with copper, copper-gold, copper-silver-gold-zinc-lead.
The company’s focus in 2021 would be to bring Cabaçal’s extensive historical database into compliance with NI43-101 reporting standards and commence exploration for copper-gold and other base metal and silver mineralization across this VMS camp.