Merc International Provides Operational Update
12 Mai 2009 - 8:56PM
Marketwired
Merc International Minerals Inc. ("Merc") (TSX VENTURE: MRK)
announced today that Mr. William Waychison has been retained to
oversee Merc's upcoming diamond drill program at its Damoti Lake
Gold Project.
Mr. Waychison, a Professional Geoscientist, has over 30 years
experience with companies such as Gold Fields Canadian Mining
Limited and Santa Fe Canadian Mining Limited, and has a wealth of
hands-on knowledge in all facets of exploration, including a recent
new discovery of gold in iron formation, a setting similar to
Damoti Lake.
"Bill is the ideal person to help advance the Damoti Lake Gold
Project, and we are excited to have him aboard," stated Merc's CEO,
Dr. Michael Byron. "Bill is well known in the industry for his
range of experience, successes and accomplishments. Having
previously visited and completed a detailed examination of Damoti
in the late 90's, his involvement further strengthens our already
strong technical team, and will significantly improve our ability
to exploit the opportunities at Damoti Lake."
In a recent news release (April 9, 2009), Merc reported that it
had increased its land position at Damoti Lake, located 200 km
north of Yellowknife, Northwest Territories, and was finalizing
preparations for its first drill program, a 6,000 metre campaign
scheduled for early June 2009. The Damoti Lake Gold Project has a
varied exploration history, including resource estimates, as
summarized in the above-mentioned news release.
Merc's first drill program is designed to expand upon the known
resource and culminate with a new NI 43-101 compliant resource
estimate. Twenty to thirty drill holes are planned to infill
priority target areas within the current resource and to extend the
mineralization along strike and to depth within the Horseshoe and
Pyrite Zones. Drilling will also focus along the mineralized fold
structures immediately west of the Horseshoe Zone within the Red
Mountain, Pink Antler and Lookout Zones.
In November 2008, Merc closed a $2.0 million flow-through
financing to support the 2009 Damoti Lake drill program, which is
expected to be completed by October 2009. In late 2009 an updated
NI 43-101 compliant resource will be prepared using all drilling to
date within the Horseshoe zone (135 drill holes) as well as the
drilling completed in the 2009 program ( 20 to 30 holes). The NI
43-101 compliant resource will make use of approximately 63 holes
not included in the 1997 and 2004 resource estimates.
Merc also announces that it has granted to consultants, officers
and directors 495,000 options to purchase Merc's common shares at a
price of $0.30 on or before May 12, 2012. 85,000 options were
granted to directors, 100,000 options were granted to officers and
310,000 options were granted to consultants.
This news release may contain forward-looking statements based
on assumptions and judgments of management regarding future events
or results. Such statements are subject to a variety of risks and
uncertainties which could cause actual events or results to differ
materially from those reflected in the forward-looking statements.
The Company disclaims any intention or obligation to revise or
update such statements.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: Merc International Minerals Inc. Dr. Michael Byron
705-560-2382 705-560-0765 (FAX) info@mercinternational.ca
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