Meridian Minerals Limited (ASX: MII) is an Australian based diverse mineral resource development and exploration company.
The company owns the Lennard Shelf Zinc Lead Project in the Kimberley region of Western Australia, one of the world’s premier Mississippi Valley Type zinc-lead provinces. Since acquiring the project in late 2009, with its extensive drilling program, Meridian Minerals has increased the project’s mineral resources by 130%, from 8.2Mt @ 7.4 Zn and 4.0% Pb, to the current 17.7Mt @ 4.0 Pb and 5.5% Zn. In May 2011 the company entered into a non-binding Heads of Agreement with major Chinese shareholder Northwest, to sell the Project for A$78M. Due diligence by North West is underway.
In February 2011 Meridian entered into a non-binding Heads of Agreement with the aim to acquire a 75% Interest in the non-alluvial assets of pre-production Russian Gold Company “Omchak”. The Due diligence process is underway.
Meridian Minerals continues to proactively identify and assess other project opportunities, in particular Copper and/or Gold projects in Pre-Feasibility Study to production stage.