Meridian Mining Uk Societas Stock Price, News & Analysis

Meridian Mining UK S (TSX:MNO)(OTCQB:MRRDF) has completed a brokered private placement, raising C$5,862,549.70. The offering involved the sale of 16,750,142 common shares at C$0.35 each, with Beacon Securities Limited as the lead agent. Insiders purchased 3,007,142 shares, exempt from minority approval requirements. Proceeds will fund the Cabaçal Project Preliminary Economic Assessment, exploration, property payments, and general working capital. Executive Chairman Gilbert Clark expressed gratitude to shareholders for their support.

Meridian Mining UK S (OTCQB: MRRDF) announced the results of its General Meeting of Shareholders on December 30, 2022, where 73,819,095 common shares (40.39% of total shares) were voted. Key resolutions included authorizing the Board to allot shares and disapply pre-emptive rights, both receiving over 99% approval. Additionally, since October 1, 2022, Meridian has seen the exercise of 4,484,063 warrants, generating CAD $1.345 million for ongoing resource exploration and general working capital. Currently, 186,083,619 shares are outstanding.

Meridian Mining UK S (OTCQB:MRRDF) announced a significant increase in its private placement offering to approximately C$5.9 million from C$3.25 million, priced at $0.35 per common share. Led by Beacon Securities Limited, the offering includes a 6% cash commission and 3% compensation options for agents. Proceeds will fund the Cabaçal Project and general corporate costs. The offering's closure has been postponed to December 30, 2022 pending shareholder approval. Importantly, insider purchases could total up to 3,007,142 shares.

Meridian Mining UK S has filed a National Instrument 43-101 Technical Report detailing the mineral resource estimate for the Cabaçal VMS deposit in Mato Grosso, Brazil. This report, prepared by experts from H&S Consultants and others, confirms that there are no material changes from the previously released information on September 26, 2022. Meridian continues to focus on resource development in Brazil, particularly the Cabaçal copper-gold project and related exploration activities.

Meridian Mining UK S (OTCQB: MRRDF) has announced new assay results from the Cabaçal gold-copper VMS deposit, revealing significant high-grade gold and copper trends. Highlights include:

• 13m @ 3.4 g/t Au and 0.9% Cu
• 8.8m @ 4.8 g/t Au
• Peak gold interval of 70.1 g/t Au

This drilling confirms shallow high-grade trends and indicates potential for future resource estimates. The updated resource is scheduled for Q2 2023, with ongoing exploration targeting broader mineralization.

Meridian Mining UK S has announced its maiden Mineral Resource estimate for the Cabaçal copper-gold-silver VMS Deposit in Mato Grosso, Brazil. The estimate includes Indicated Resources of 52.9 Mt @ 0.6g/t Au, 0.3% Cu, and 1.4g/t Ag, translating to 1.1 million ounces of gold. Additionally, Inferred Resources stand at 10.3Mt @ 0.7g/t Au. The deposit extends over 1.9km and features a high-grade zone. Ongoing drilling shows promise with strong mineralization and ongoing assessments for resource expansion.

Meridian Mining UK S (OTCQB: MRRDF) announced significant updates from its Cabaçal Mine Corridor exploration program, revealing a geophysical anomaly linking the C4-A gold-silver discovery to the Cabaçal copper-gold deposit, extending 1.8 km northwest. The recent Gradient Array Induced Polarization survey identified multiple charging responses, paving the way for upcoming drill programs. The company also delineated a new 6.5 km long copper-gold-silver C2 Trend, enhancing the exploration strategy. A maiden resource statement for Cabaçal is on track for late Q3 2022.

Meridian Mining UK S (OTCQB: MRRDF) has submitted its database on the Cabaçal copper-gold VMS deposit to H&S Consultants for a maiden resource estimate, anticipated by Q3 2022. This estimate incorporates data from 869 diamond drill holes, totaling 91,956 meters and 58,428 assays, and will help in engineering and financial studies. The company plans further drilling in 2023, targeting open zones of mineralization and near-mine targets. Positive metallurgical tests indicate potentially high recovery rates, which bodes well for the resource estimate.