Meridian Gold (MNG-T) has completed an underground exploration program at the Chilean gold-silver project known as El Pen, 160 km southeast of Antofagasta.
From a decline, the company confirmed the continuity of mineralization by completing six crosscuts totalling 341 metres, 44 underground holes and 55 metres of drifts.
Chip samples along the right and left sides of the crosscuts returned encouraging results, including: 4.3 metres avering 10.2 grams gold and 258 grams silver per tonne; 12.8 metres averaging 4.3 grams gold and 142 grams silver; 13.3 metres of 12.3 grams gold and 197 grams silver; 23.5 metres of 12.7 grams gold and 184 grams silver; and 13.9 metres of 6.5 grams gold and 147 grams silver.
Muck samples from the drifts in ore returned a 24-metre interval averaging 29.3 grams gold and 300 grams silver, as well as 21.4 metres of 10.2 grams and 195 grams silver.
Meridian says the sampling program has confirmed the continuity and tenor of the mineralization in the vein-type deposit. The grades are comparable to those encountered in reverse-circulation (RC) drilling. The data are being incorporated into a feasibility study, which is expected early next year.
The study also will incorporate results from a recent program in which 223 RC and 43 core holes were drilled on surface in an attempt to define reserves.
Another surface program is under way to test new exploration targets.
Meridian has other projects in Chile. The company is gearing up to drill the Las Tinajes property in the northern part of the Maricunga district. The program will follow up results from a previous program in which a new zone of surface mineralization was found to contain values of more than 3 grams per tonne. Surface sampling and mapping will resume later this year on the nearby Agua de la Piedra property.
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