🕐04.03.10 - 03:33 Uhr
Meridian Minerals announces Cadjebut Splay Mineral Resource trebles to 1.1Mt on the Lennard Shelf Pr
Meridian Minerals Limited
ASX ANNOUNCEMENT
ASX Code: MII
4 March 2010
Meridian Minerals announces Cadjebut Splay Mineral Resource trebles to
1.1Mt on the Lennard Shelf Project in WA
Highlights
- Following a revision of the Cadjebut Splay historical drill holes over a
550m strike length, an updated Inferred mineral resource of 1.1Mt @ 8.5%
Pb, 2.4% Zn and 15.7g/t Ag, above a combined 3% zinc plus lead cutoff, has
been reported for the Cadjebut Splay prospect according to the guidelines
of the JORC Code (2004).
This total includes contributions from the high
grade lead Cadjebut Splay Fault domain of 0.7Mt @ 1.2% Zn, 10.8% Pb, and
20.6g/t Ag and an extension to the Cadjebut deposit of 0.3Mt @ 6.0% Zn,
2.4% Pb, and 2.5g/t Ag;
- The total mineral resource inventory on the Lennard Shelf Project has
increased a further 6% to 12.8Mt @ 6.4% Zn and 3.8% Pb, with the addition
of the Cadjebut Inferred mineral resource;
- Since completing the Lennard Shelf Project acquisition in November 2009,
Meridian has increased the project's mineral resource inventory by 56%, by
defining a new Inferred mineral resource at the Palijippa prospect and
revising the existing mineral resource inventories for the Cadjebut Splay
and Kapok West prospects;
- The Cadjebut Splay mineral resource occurs 200-250m immediately north of
the Kapok West prospect and underground access should be possible by
re-establishing the existing decline at the Kapok mine;
- Drilling continues at the Kapok West prospect where 23 of 36 extensional
drill holes have been completed.
Further results will be released next
week;
- Meridian's understanding of the mineral resources on the Lennard Shelf
project is continually improving through the information provided from the
ongoing drill program and better analysis of historical data.
Australian resources company, Meridian Minerals Limited ('Meridian' or
'Company') (ASX: MII), has further increased the mineral resource inventory
on the Lennard Shelf Project ("Lennard Shelf") located in the Kimberly
region of Western Australia (Figure 1).
Following evaluation of 24
historical drill holes at the Cadjebut Splay prospect, Xstract Mining
Consultants Pty Ltd ("Xstract") has reported an updated Inferred mineral
resource for Cadjebut Splay of 1.1Mt @ 8.5% Pb, 2.4% Zn and 15.7g/t Ag,
according to the guidelines of the JORC Code (2004).
Meridian's Managing Director Jeremy Read said that previous operators of
the Lennard Shelf project had not fully determined the potential of the
Cadjebut Splay prospect but Meridian's view is that Cadjebut Splay could
play a critical role in establishing a profitable mining operation due to
its relatively high grade, shallow depth and close proximity to the
existing Kapok decline.
"Cadjebut Splay occurs immediately to the north of the Kapok West mineral
resource and should be accessible by a drive off the existing Kapok
decline," Mr Read said.
"Due to the relatively shallow depth of the Cadjebut Splay mineral resource
- around 150m -- Cadjebut Splay has the potential to be brought into
production approximately six months before either of the Kapok or Kapok
West mineral resources and this will have a positive impact on the overall
profitability of the Lennard Shelf project."
"Cadjebut Splay is also open to the east and west and we will be
undertaking drilling to expand the Cadjebut Splay mineral resource in both
directions."
To download the full ASX Announcement click here:
http://esp.gewru.com/download/files/12414/1100689/20100304%20-%20Meridian%20Minerals%20announces%20Cadjeult%20Splay%20Mineral%20Re.pdf
For further information please visit www.meridianminerals.com.au or
contact
Mr Jeremy Read
Managing Director
Meridian Minerals Limited
Tel: 07 3844 6444
Mob: 0409 484 322
Felicity Nuttall
Professional Public Relations
Tel: 08 9388 0944
Mob: 0430 184 599
Em:
The information in this report that relates to Exploration Results, Mineral
Resources or Ore Reserves is based on information compiled by Mr Jeremy
Read, who is a member of The Australasian Institute of Mining and
Metallurgy.
Mr Read is a full-time employee of Meridian Minerals Limited.
He has sufficient experience which is relevant to the style of
mineralisation and type of deposit under consideration and to the activity
which he is undertaking to quality as a Competent Person as defined in the
2004 Edition of the 'Australasian Code for Reporting of Exploration
Results, Mineral Resources and Ore Reserves'.
Mr Read consents to the
inclusion in this announcement of the matters based upon his information in
the form and context in which it appears.
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