Merc Announces Start of Drilling at Damoti Lake Gold Project
07 Juli 2009 - 3:25PM
Marketwired
Merc International Minerals Inc. ("Merc") (TSX VENTURE: MRK)
announced today the start of its first drill program at the Damoti
Lake Gold Project, located 200 km north of Yellowknife, Northwest
Territories.
Merc's ongoing 2009 exploration program which is designed to
expand upon the historic resource at Damoti Lake, consists of
compiling all historical data, auditing historical resource
estimates, constructing an updated three dimensional deposit model,
defining and testing new drill targets, and initiating a NI 43-101
resource estimate. The current 6,000 metre, 20 to 30 drill hole
program is planned to infill priority target areas within the
current resource and to extend the mineralized zones along strike
and to depth within the Horseshoe and Pyrite Zones. Drilling will
also focus along the mineralized structures approximately 150
metres 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 finished by October 2009. In late 2009 an updated NI
43-101 compliant resource will be completed using all drilling to
date within the Horseshoe Zone (135 drill holes) as well as the
drilling completed in Merc's 2009 program (20 to 30 holes). The
resource will make use of approximately 63 holes not included in
the 1997 and 2004 resource estimates.
"The drilling crew from Bradley Bros. Limited arrived on site
last week and we expect the first results later in August 2009 and
monthly results thereafter until November 2009", reported Dr.
Michael Byron, Merc's President and CEO. "We look forward to
completing a NI 43-101 compliant resource at this high-grade, near
surface gold project. Preliminary deposit modeling illustrates the
broad extent of the gold mineralization within the host iron
formation, and confirms the potential for resource expansion."
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
Merc International Minerals Inc. (TSXV:MRK)
Historical Stock Chart
Von Jun 2024 bis Jul 2024
Merc International Minerals Inc. (TSXV:MRK)
Historical Stock Chart
Von Jul 2023 bis Jul 2024
Echtzeit-Nachrichten über Merc International Minerals Inc. (TSX Venture Börse): 0 Nachrichtenartikel
Weitere Merc International Minerals Inc. News-Artikel