Merc Commences Drilling at Its Damoti Lake Gold Project
24 März 2010 - 1:30PM
Marketwired
Merc International Minerals Inc. ("Merc") (TSX VENTURE: MRK)
announced today the start of its second diamond drill program at
the Damoti Lake Gold Project, located 200 km north of Yellowknife,
Northwest Territories.
Drilling is currently underway as two rigs begin a 10,000 to
12,000 meter program intended to extend known mineralization to
depth within the Horseshoe North zone, to extend new zones
discovered at Red Mountain by the 2009 drill program and to confirm
and expand the high-grade mineralization previously reported for
the BIF Island zone.
On March 4, 2010 Merc reported the completion of its winter
geophysics program of detailed ground magnetic, electromagnetic,
and localized induced polarization surveys. Initial orientation
surveys were carried out over known mineralization to determine
their physical characteristics, in effect, creating a geophysical
"footprint". Subsequent surveys helped trace mineralization along
strike and down plunge within the iron formation and identified new
drill targets elsewhere on the property with similar "footprints".
Drilling will test these new geophysical targets, as well as other
high-priority mineralized zones that are represented by significant
geophysical anomalies including Knob Hill, Runway, Lard, and
Granite.
"Drill crews arrived on site last week and drilling is now in
progress, with our first assay results expected by mid to late
April," reported Dr. Michael Byron, Merc's President and CEO. "We
are very excited and look forward to testing these new targets
including those identified by our recently completed geophysical
program. Deposit modeling at Red Mountain, Horseshoe and BIF Island
present additional drill targets that are expected to expand the
Damoti resource."
In November 2009, Merc closed a $3.1 million flow through
financing to support the 2010 winter drill program at Damoti
Lake.
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.
Merc 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
www.mercinternational.ca
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