Merc Intersects 21.35 Grams Gold Per Tonne Over 5.0 Metres at Damoti; Reports New Gold Zone Discovery
16 September 2009 - 2:30PM
Marketwired
Merc International Minerals Inc. ("Merc") (TSX VENTURE: MRK)
released results today for four more drillholes from its ongoing
gold resource expansion program on the Damoti Lake Gold Project in
the Northwest Territories. Drillhole D09-382 returned 21.35 grams
gold per tonne over 5.00 metres (including 39.6 grams gold per
tonne over 2.65 metres), and intersected a new gold zone at depth
within the west limb of the Horseshoe syncline that assayed 3.63
grams gold per tonne over 7.55 metres (including 12.02 grams gold
per tonne over 1.10 metres). Approximately 40 meters northeast of
the D09-382 west limb intersection, D09-384 intersected 18 meters
grading 2.86 grams gold per tonne near the base of the west limb
(including a 5.0 metres at 4.97 grams gold per tonne, 0.60 metres
at 15.40 grams gold per tonne and 1.10 metres at 10.40 grams gold
per tonne).
"These results are very encouraging as they continue to
demonstrate the robust nature of gold mineralization within the
iron formation on the property, and point to the untapped potential
for additional discoveries along our 12 kilometres of strike
length," stated President and CEO Dr. Michael Byron. "Our discovery
of a new gold zone represents an exciting advancement at Damoti.
Being the first significant intersection in the west limb of the
fold, this entire limb is now open and highly prospective, thus
strongly supporting the potential for ongoing resource expansion.
We look forward to continued exploration work on this new zone," he
added.
Results for Merc's initial seven drillholes were reported on
August 25, 2009. Summarized highlights include 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. These short holes targeted shallow
mineralization within the southern portion of the Horseshoe Zone,
were intended to confirm some historic drill results, and to infill
the current resource model presently being advanced by Merc.
Drilling is now focused on following the mineralization down
plunge to the north and along the relatively untested western limb
of the fold, and to infill priority target areas within the
resource model.
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Drill Hole From To Core Length(i) Au
(m) (m) (m) (gpt)
-------------------------------------------------------
D09-382 56.00 61.00 5.00 21.35
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including 57.55 60.20 2.65 39.60
-------------------------------------------------------
including 59.00 60.20 1.20 68.43
-------------------------------------------------------
83.50 87.00 3.50 4.12
-------------------------------------------------------
167.50 169.20 1.70 7.67
-------------------------------------------------------
including 168.50 169.20 0.70 15.90
-------------------------------------------------------
228.00 237.25 9.25 3.42
-------------------------------------------------------
including 232.20 233.30 1.10 12.02
-------------------------------------------------------
including 232.20 232.80 0.60 17.20
-------------------------------------------------------
D09-383 55.50 57.00 1.50 2.69
-------------------------------------------------------
75.80 83.40 7.60 1.97
-------------------------------------------------------
including 82.70 83.40 0.70 11.35
-------------------------------------------------------
99.00 102.90 3.90 3.90
-------------------------------------------------------
including 102.00 102.90 0.90 8.17
-------------------------------------------------------
115.00 119.50 4.50 5.11
-------------------------------------------------------
including 117.50 118.40 0.90 7.69
-------------------------------------------------------
222.15 224.05 1.90 3.12
-------------------------------------------------------
D09-384 67.00 73.00 6.00 4.46
-------------------------------------------------------
including 67.00 69.00 2.00 9.36
-------------------------------------------------------
82.00 84.35 2.33 3.29
-------------------------------------------------------
105.60 110.00 4.40 3.73
-------------------------------------------------------
including 107.75 109.00 1.25 9.78
-------------------------------------------------------
199.00 200.75 1.75 4.83
-------------------------------------------------------
205.40 207.00 1.60 9.95
-------------------------------------------------------
including 206.50 207.00 0.50 28.10
-------------------------------------------------------
245.00 263.00 18.00 2.86
-------------------------------------------------------
including 245.00 250.00 5.00 4.97
-------------------------------------------------------
including 247.00 247.60 0.60 15.40
-------------------------------------------------------
including 257.00 260.10 3.10 4.99
-------------------------------------------------------
including 259.00 260.10 1.10 10.40
-------------------------------------------------------
D09-385 exploration hole - no significant results
-------------------------------------------------------
(i) Lengths are reported as core lengths. True widths
are not known at this time.
Areas of significant iron formation hosted gold mineralization
occur in association with the sulphide mineral pyrrhotite, and to a
lessor extent, pyrite. Intense chloritic alteration and graphite
are also prevalent and impart a distinctive dark green/black
colouration to the core. Both are also observed in association with
gold. Dr. Byron stated, "As both pyrrhotite and graphite are good
conductors, we believe that a combination of magnetic and
electromagnetic (EM) geophysical surveys should prove very
effective for identifying and tracking this style of mineralization
throughout our property."
The ongoing 2009 exploration program is designed to establish
the basis from which to complete a mineral resource evaluation and
preparation of a National Instrument (NI) 43-101 compliant
technical report on the Damoti Lake Gold Project (News Release -
September 14, 2009). To date approximately 4,800 metres have been
drilled. The program is expected to be completed by early
October.
In a recent news release (September 14, 2009) it was reported
that Merc had retained SRK Consulting to complete a mineral
resource evaluation and preparation of a National Instrument (NI)
43-101 compliant technical report. A new NI 43-101 compliant
resource will use all drilling results to date and is expected to
be completed early in 2010.
Quality Control
Merc International Minerals, Inc. 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 International Minerals
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 Renmark
Financial Communications Inc. Barbara Komorowski (514) 939-3989 or
(416) 644-2020 bkomorowski@renmarkfinancial.com Renmark Financial
Communications Inc. Barry Mire (514) 939-3989 or (416) 644-2020
bmire@renmarkfinancial.com www.renmarkfinancial.com
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