Meridian outlines targets

Underground channel sampling by Meridian Gold (MNG-T) has returned significant gold values at the Venturina gold-silver property in Mexico’s Chihuahua state.

Targeting the old underground workings along the Venturina gold zone, Meridian has reopened the main tunnel for a total distance of 270 metres. The first 105 metres averaged 2.72 grams gold and 31 grams silver per tonne. The newly accessible portion of the tunnel returned 7.4 grams gold and 42 grams silver along a 47-metre strike length. Last year, Meridian drill-tested along strike of a 400-metre segment of the zone, with hole 6 hitting 22.9 metres of 3.98 grams gold.

Meridian has also completed trenching along the southeastern portion of the zone, the best result being 8.3 grams gold over 4 metres.

The property covers a portion of the Dios de Guia gold-silver district, which has a history of high-grade production dating back to the late 1800s. Abundant small mine workings testify to this history.

Mapping and sampling have traced the main Venturina zone over a strike length of nearly 2 km and a width ranging from 15 to 75 metres. Mineralization occurs along a complex, northwesterly striking fault zone that contains several closely spaced, sub-parallel faults, most of which have been altered and silicified.

Meridian can earn up to an initial 65% interest in the core group of claims, and up to 60% in the surrounding Arcoiris II claims, by making cash payments totalling US$1 million to International Northair Mines (INM-V) and spending US$2 million on exploration over four years. The Arcoirir II claims are under option from Visionary Mining (VIN-V).

For every $500,000 spent thereafter, Meridian will earn an additional 1% interest in the Venturina property, up to a maximum of 85%.

Mapping and sampling will continue, to be followed by drilling early next year.