🕐29.03.10 - 03:42 Uhr
Infill Drilling by Meridian at Kapok West in Western Australia Intersects 22% Combined Lead and Zinc
Meridian Minerals Limited
ASX ANNOUNCEMENT
ASX Code: MII
29 March 2010
Infill Drilling by Meridian at Kapok West in Western Australia Intersects
22% Combined Lead and Zinc
Highlights
Due to the success of the extensional drilling program at the Kapok West
prospect, which contributed to a doubling of the mineral resource, infill
drilling commenced ahead of schedule at Kapok West;
39 infill drill holes are planned to be drilled at Kapok West and results
have been received for the first nine drill holes;
The main objective of the infill drilling is to increase confidence in the
size and grade of the Kapok West mineral resource with the aim of allowing
a portion of the mineral resource to be classified as Indicated in
accordance with the JORC Code (2004);
Results from the initial infill drill holes are very encouraging with
intersections including:
5.0m @ 22.4% Pb+Zn in KW10-026
16.0m @ 12.1% Pb+Zn in KW10-026
4.0m @ 14.1% Pb+Zn in KW10-027
2.0m @ 10.7% Pb+Zn in KW10-023
Including the holes for which results are announced today, 26 infill drill
holes have been completed with a further 13 holes still to be drilled.
It is expected the infill drilling will be completed by the end of April
and all assay results received by the end of May.
Australian resources company Meridian Minerals Limited (Meridian or
Company) (ASX: MII) today announces assay results from the first nine
infill diamond drill holes drilled at the Kapok West prospect, on the
Lennard Shelf Project ("Lennard Shelf").
The objective of the infill diamond drill program is to increase the
confidence level in the size and grade of the Kapok West mineral resource.
An Inferred Kapok West mineral resource of 2.5Mt @ 3.1% Zn, 6.3% Pb and
13.0 g/t Ag, above a 3% Pb+Zn cut-off has been reported in accordance with
the guidelines of the JORC Code (2004).
It is anticipated that following the conclusion of the infill drill program
that a portion of the mineral resource will be re- classified as Indicated
in accordance with the guidelines of the JORC Code (2004).
Meridians Managing Director, Jeremy Read, said that the initial results
from the infill drilling were very encouraging as many of the intersections
were significantly in excess of the current average grade of the Kapok West
mineral resource, being 9.4% Pb+Zn.
"Infill drilling of mineral resources on the Lennard Shelf has historically
often resulted in both the grade and size of the resource increasing due to
better definition of the geometry of the mineralisation and distribution of
lead and zinc within the resource," Mr Read said.
"Our initial results are very encouraging as we have a number of
intersections well in excess of the average grade of the Kapok West mineral
resource and some combined grades of lead and zinc as high as 22%, which is
exceptional."
"If our next batch of results is similar to the results announced today
then there is a high probability that the overall grade for the Kapok West
mineral resource will increase above the current average grade of 9.4%
Pb+Zn."
The Kapok West infill drill program will comprise a total of 39 holes of
which 26 have been completed to date, including the nine holes for which
results are being announced today.
Meridian expects that the Kapok West infill drill program will be completed
by the end of April with results for all thirty nine holes received by the
end of May.
Meridian is aiming to release the next batch of infill drill results within
the next 2-3 weeks.
To download the full ASX Announcement click here:
http://esp.gewru.com/download/files/12414/1123889/20100329%20-%20Infill%20Drilling%20by%20Meridian%20at%20Kapok%20West%20in%20Western%20.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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