Meridian Mining Granted Three Additional Water Permits
TSX VENTURE: MNO
Multiple locations permitted for future trommel placements unlocked
LONDON, Feb. 14, 2019 /CNW/ - Meridian Mining SE (TSXV: MNO) ("Meridian" or the "Company") today announced that it has been granted three additional water permits by SEDAM (Secretary of State for Environmental Development, Rondônia, Brazil), valid until 31st of January 2024, to use with a rotating wet screen ("trommel") at the António Gomes, Francisco/Araçatuba and Júlio Mundi prospects ("the Permits") within its Espigão Manganese project ("the Project"). The Company already has one field trommel at the Vitalino prospect where it operates on a continuous basis, uninterrupted by the wet season conditions.
The highlighted benefits of the three new Permits together with the Company's one existing water permit are:
- Expands the catchment areas to mine and pre-process manganese from during future wet seasons;
- Provides for 4 permitted areas to centralise medium and long-term mining scheduling;
- Enables the Company to efficiently supply pre-concentrate manganese to the Jaburi plant during future wet seasons.
By the granting of the new Permits (Fig 1) the Company has now secured a broader footprint across the Project to operate a trommel(s) during future wet seasons. Each of the permits allows the Company to draw up to 100m3/hr of water to use in the washing and pre-concentration of manganese. The future pre-concentrated material produced by the field trommel(s) will be then trucked to the Company's principal processing plant Jaburi.
The volume of pre-concentrated manganese produced by the Vitalino trommel can be less than 80% of the original feed material. As the volume of material that the Jaburi plant was original designed to process was based on larger volumes of "raw feed", it has in effect excess capacity when processing the Vitalino pre-concentrate. At the end of January, management took the decision to re-configure the Rio Madeira plant and for it to operate solely as a centralised washing plant. The combined feed of pre-concentrated manganese from two wash plants allows the Jaburi plant to operate at near capacity. The jigs at the Rio Madeira plant will be maintained for contingency purposes only.
Mr Clark, Interim CEO & President, states, "The Company has commenced 2019 with a fresh outlook that has been complemented by these three additional water permits being granted by SEDAM. The challenges and lessons learned by operating the Vitalino field trommel will be used for future wet season operations now facilitated by the granting of the Permits"
The technical information about the Company's exploration activity has been prepared under the supervision of and verified by Dr. Adrian McArthur (B.Sc. Hons, PhD. FAusIMM), the Chief Geologist of Meridian Mining, who is a "qualified person" within the meaning of National Instrument 43-101.
On behalf of the Board of Directors of Meridian Mining SE
Interim CEO, President and Director
Meridian Mining SE is focused on the acquisition, exploration, development and mining activities in Brazil. The Company is currently focused on exploring and developing the Espigão manganese and gold projects, the Bom Futuro tin JV area, and adjacent areas in the state of Rondônia. Meridian is currently producing high grade manganese at its project located at Espigão do Oeste.
Further information can be found at www.meridianmining.co.
Some statements in this presentation contain forward-looking information or forward-looking statements for the purposes of applicable securities laws. These statements include, among others, statements with respect to the Company's plans for exploration, development and exploitation of its properties and potential mineralisation. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such risk factors include, among others, failure to obtain regulatory approvals, failure to complete anticipated transactions, the timing and success of future exploration and development activities, exploration and development risks, title matters, inability to obtain any required third party consents, operating risks and hazards, metal prices, political and economic factors, competitive factors, general economic conditions, relationships with strategic partners, governmental regulation and supervision, seasonality, technological change, industry practices and one-time events. In making the forward-looking statements, the Company has applied several material assumptions including, but not limited to, the assumptions that: (1) the proposed exploration, development and exploitation of mineral projects will proceed as planned; (2) market fundamentals will result in sustained metals and minerals prices and (3) any additional financing needed will be available on reasonable terms. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation.
The Company cautions that it has not completed any feasibility studies on any of its mineral properties, and no mineral reserve estimate or mineral resource estimate has been established. In particular, because the Company's production decision relating to Meridian Mineracao Jaburi S.A, manganese project is not based upon a feasibility study of mineral reserves, the economic and technical viability of the Espigão manganese project has not been established
The TSX Venture Exchange has neither approved nor disapproved the contents of this news release. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.