Merc Intersects 13.91 Grams Gold Per Tonne Over 23.50 Metres at Damoti
25 August 2009 - 3:15PM
Marketwired
Merc International Minerals Inc. ("Merc") (TSX VENTURE: MRK)
announces that the initial drill results from its gold resource
expansion program on the Damoti Lake Gold Project in the Northwest
Territories has returned 13.91 grams gold per tonne over 23.50
metres (including 20.95 grams gold per tonne over 9.60 metres) from
hole D09-377 and 9.31 grams gold per tonne over 22.30 metres
(including 22.06 grams gold per tonne over 4.60 metres) from hole
D09-380.
"We are extremely encouraged with these results as they clearly
illustrate the high-grade nature and continuity of the Horseshoe
Zone mineralization. Drilling continues as we advance our
exploration efforts north along the mineralized structure and
westward, targeting similar mineralized folds" states Dr. Michael
Byron, Merc's President and CEO. "Our confidence is high in Damoti
and its potential to evolve into a high-grade, multi-million ounce
deposit," added Dr. Byron.
Merc's ongoing 2009 exploration program is designed to expand
upon the historic resource (News Release - August 5, 2008) by
infilling priority target areas, extending mineralized zones along
strike and to depth within the Horseshoe and Pyrite Zones - where
the fold nose offers considerable potential - and to test similar
mineralized structures 150 metres west of the Horseshoe Zone within
the Red Mountain, Pink Antler and Lookout Zones.
The 6,000 metre, 20 to 30 hole initial phase program was
initiated on July 1, 2009, and is expected to be completed in
October 2009. Approximately 3,000 metres have been drilled to date.
Assays have been returned for the first 614 metres and summarized
in the table below. Updated maps and drill sections will be
available on Merc's website when completed.
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Drill Hole From To Core Length(i) Grams Per Tonne
(metres) (metres) (metres) Gold
----------------------------------------------------------------------------
D09-376 Hole abandoned at 51.01 m due to bad ground short of target
mineralization.
----------------------------------------------------------------------------
D09-377 43.00 66.50 23.50 13.91
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including 43.80 45.80 2.00 50.83
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including 53.40 63.00 9.60 20.95
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including 65.00 66.50 1.50 13.33
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D09-378 53.90 55.35 1.45 3.50
----------------------------------------------------------------------------
69.00 72.00 3.00 16.97
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D09-378B Exploration hole - no significant results.
----------------------------------------------------------------------------
D09-379 37.95 41.40 3.45 2.88
----------------------------------------------------------------------------
D09-380 45.70 68.00 22.30 9.31
----------------------------------------------------------------------------
including 45.70 50.30 4.60 22.06
----------------------------------------------------------------------------
including 59.35 60.70 1.35 15.86
----------------------------------------------------------------------------
including 62.15 66.55 4.40 13.68
----------------------------------------------------------------------------
D09-381 63.00 66.00 3.00 6.36
----------------------------------------------------------------------------
including 63.00 64.50 1.50 12.10
----------------------------------------------------------------------------
(i) Lengths are reported as core lengths. True widths are not known at this
time.
These first seven holes, covering approximately 10% of the 2009
drill program, have tested the southern portion of the Horseshoe
Zone where mineralization is typically hosted by strongly
chloritized and sulphidized banded iron formation within the
eastern limb of the syncline. As short holes (88 metre average
lengths) targeting shallow mineralization, they are intended to
confirm historic drill results and to infill the current resource
model presently being advanced by Merc. Drilling is now focussed on
following the mineralization down plunge to the north and along the
relatively untested western limb of the fold.
Results from holes D09-377 and D09-380 emphasize the excellent
grade and continuity of the near surface Horseshoe Zone gold
mineralization. Areas of high-grade mineralization are best
developed with the top and basal portions of the iron formation
unit where gold occurs in association with the sulphide mineral
pyrrhotite and, to a lesser extent, pyrite. Intense chloritic
alteration and graphite are also prevalent and imparts a
distinctive dark green/black colouration to the core. Both are also
observed in association with gold.
"Work is advancing well on our three dimensional geological
model. Our initial version, based on historical drilling, is
complete but will be updated with information as generated from the
present drill program", commented Dr. Byron. "We are now able to
visualize exciting new target opportunities from our mineralization
modelling. The 0.5 grams per tonne gold mineralized shell has been
completed for the Horseshoe, Pyrite, Kitchen, and Red Mountain
Zones. Construction of 3 and 5 grams per tonne gold shells are in
progress and this work will form the basis for our NI 43-101
compliant resource to be completed early in 2010", added Dr.
Byron.
A new NI 43-101 compliant resource will use all drilling results
to date within the Horseshoe Zone (135 drill holes) as well as the
drilling completed in Merc's 2009 program (20 to 30 holes), and
include approximately 63 holes not included in the 1997 and 2004
resource estimates. Preliminary drill results and deposit modelling
confirm the potential for resource expansion.
Merc has also completed a program of selective re-sampling and
analyses of historical drill holes D97-278, D97-282 and D97-311 to
validate original gold assays and confirm the high-grades at
Damoti, as well as test the mineralization for a "gold nugget
effect." Results from this program are expected to be compiled in
September 2009.
Quality Control
Merc has implemented a quality-control program to ensure best
practice in the sampling and analysis of the drill core. NQ-size
drill core is saw cut and half the drill core is sampled in
standard intervals not exceeding 1.5 metres in length while core
from the main mineralized horizons or core displaying visible gold
or significant sulfides are sampled in greater detail generally not
exceeding 1 metre in length. The remaining half core is stored in a
secure location.
Core samples are transported in security-sealed bags for
analyses at ALS Chemex Assay Laboratory in Vancouver, BC. ALS
Chemex is an ISO 9001:2000 certified laboratory. Gold assaying is
done by a fire assay - atomic absorption spectrometry method on a
30-gram charge of a 1000 gram pulp. Samples returning values
exceeding 3 gpt Au are re-checked by fire assay with a gravimetric
finish. Pulp and metallics assaying for gold is conducted on the
entire pulverized sample for all samples within the main
mineralized horizons and those samples with visible gold or
significant sulfides.
As part of its QA/QC program, Merc inserts external gold
standards (low to high grade) and blanks every 20 samples. This is
in addition to the standards, blanks and pulp duplicates inserted
by ALS Chemex. In addition, samples of pulps have been collected
from ten percent of all samples analyzed and will be submitted to a
second independent laboratory for comparison purposes.
The Damoti Lake Gold Project is being supervised by William
Waychison, M.Sc.A., P.Geo, the Qualified Person (QP) for this
project.
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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