Highlights of the field program's initial roll out are: Pre-drilling field activities have commenced at Cabacal; Multi-year land access agreements are being formalized, granting access for multiple diamond drill rigs to commence Cabacal's resource confirmation and definition drill programs; Drone-based aerial surveys commenced to produce high-quality orthophotography and topographic data over the historical
Field activity at Cabacal has advanced since the recent closing of the Company's non-brokered
Brazilian specialized survey group Geosan has been engaged to construct high-quality orthophotography and topographic data over the Cabacal Central area and the Mine Corridor's targets to assist with exploration planning and project development studies. Initial drone flights have now commenced over the immediate Cabacal Central area. Geosan will assist with geodetic survey checks on historical drill collars and conclude drone fights and topographic modelling over an area of 1,291 Ha covering both the
The Company is in the process of expanding its geological team and building on technical studies initiated since the due diligence period. Meridian has contacted representatives from UFMT (Universidade Federal de
The Company is in the final stages of evaluation of drilling tenders and has formalized an exploration agreement with the owner of the property hosting the area targeted by the Cabacal resource definition program. The Company continues to receive positive support from the local community for its field programs. This clears the way for the initiation of the drilling program, subject to grant of an environmental licence from statutory authorities, which is under evaluation as part of industry-standard procedures for drilling programs in the
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ABOUT MERIDIAN
FORWARD-LOOKING STATEMENTS
Some statements in this news release contain forward-looking information or forward-looking statements for the purposes of applicable securities laws. These statements include, among others, statements with respect to the Company's plans for exploration, development and exploitation of its properties and potential mineralisation. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such risk factors include, among others, failure to obtain regulatory approvals, failure to complete anticipated transactions, the timing and success of future exploration and development activities, exploration and development risks, title matters, inability to obtain any required third party consents, operating risks and hazards, metal prices, political and economic factors, competitive factors, general economic conditions, relationships with strategic partners, governmental regulation and supervision, seasonality, technological change, industry practices and one-time events. In making the forward-looking statements, the Company has applied several material assumptions including, but not limited to, the assumptions that: (1) the proposed exploration, development and exploitation of mineral projects will proceed as planned; (2) market fundamentals will result in sustained metals and minerals prices and (3) any additional financing needed will be available on reasonable terms. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation.
The Company cautions that it has not completed any feasibility studies on any of its mineral properties, and no mineral reserve estimate or mineral resource estimate has been established. Geophysical exploration targets are preliminary in nature and not conclusive evidence of the likelihood of a mineral deposit.
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