LATIN AMERICA — Meridian drills Venturina

An exploration progam by Meridian Gold (MNG-T) is aimed at defining drill targets at the Venturina gold-silver property in Mexico’s Chihuahua state and investigating a surrounding land package.

Under an agreement with International Northair Mines (INM-V), Meridian can earn up to a 65% interest in the Venturina property, and up to 60% of a surrounding concession under option from Visionary Mining (VIN-V). In return, Meridian must pay US$1 million in cash and spend at least US$2 million on exploration over four years, as well as reimburse Northair for all underlying obligations.

Highlights from Northair’s 1998 drill program include: 22.9 metres grading 3.98 grams gold-equivalent per tonne; 6.1 metres of 3.6 grams; 6.1 metres of 5.43 grams; and 25.9 metres of 3.67 grams.

Meridian is taking a district-wide approach to exploration, and plans to map at least 25 sq. km, while continuing its more detailed work at Venturina.