Merc Staking Program Expands NWT Land Package by 241%
26 April 2011 - 1:00PM
PR Newswire (Canada)
TORONTO, April 26 /CNW/ -- TORONTO, April 26 /CNW/ - Merc
International Minerals Inc. (TSXV: MRK) ("Merc") announced
today that it has successfully staked an additional 79 mining
claims (148,318 acres or 60,022 hectares), achieving another
significant milestone in its consolidation of the prolific Indin
Lake Gold Camp located in the Northwest Territories. Merc now
controls the majority of the prospective Indin Lake Greenstone belt
in this historic gold camp with a total ground position now
comprising 209,763 acres or 84,888 hectares. The newly staked
ground consists of several new gold prospects incremental to Merc's
previously reported acquisitions (see news releases January 10,
2011 and January 20, 2011), some of which lie contiguous to the
former producing Colomac Gold Mine and host similar geological and
deposit characteristics. Merc's land position now includes
the Diversified, North Inca, Lexindin, Treasure Island, Damoti
Lake, Echo Indin, and Fishhook gold deposits as well as ten
additional historic gold showings. Merc is actively drilling
the Diversified, North Inca, Lexindin and Treasure Island deposits,
and as part of the on-going approximately 7,000 metre drill
program, will expand activities to explore its additional deposits
in the near future. The newly staked ground has significantly
expanded Merc's gold exploration targets within an area that lies
along the West Bay - Indin Lake Fault Zone, a regional structure
that extends over 200 km from the shores of Great Slave Lake to
areas north of the Indin Lake Belt. This fault zone contains
both the Giant and Con gold mines (approximately 13 million ounces
of production) to the south and the Colomac Gold Mine
(approximately 500,000 ounces production) within its northern
extent. Merc believes this structure has played a major role
in the development and localization of Indin Lake gold
mineralization; much the same role as that of other large
regional fault zones, such as the Destor-Porcupine Fault's
influence on gold deposit formation within the Timmins Gold Camp.
The Indin Lake Greenstone belt remains one of the few
under-explored historic gold camps in Canada. To view a map of the
Indin Lake property, please go to
http://files.newswire.ca/926/merc_0426.pdf Property Highlights
Fishhook Property The Fishook property is located 11 kilometres
southwest of the Damoti Lake gold deposit. The geological setting
is similar to that of the Damoti Lake deposit consisting of folded,
sulphidized, banded iron formation within a sedimentary
stratigraphy. Gold is reported from twelve separate
occurrences within the area, of which a number have been previously
drilled. The majority of the holes were laid out to test
shallow (less than 100 meters) mineralization. Drill
intersection highlights include: 13.6 metres of 6.70 grams gold per
tonne, 13.9 metres of 5.02 grams gold per tonne, 6.3 metres of 8.07
grams gold per tonne, 3.0 metres of 13.93 grams gold per tonne, and
1.6 metres of 19.78 grams gold per tonne. Merc is planning a
surface mapping and prospecting program this summer and drilling
will be contingent upon the results of that work. Andy Lake
Property The property is located northwest of Damoti Lake and just
east of Indin Lake. Historic work was limited to surface sampling
of quartz stockwork veins in shear zones between volcanic rocks and
granite intrusions where assays up 8.05 grams gold per tonne were
reported. No drilling has been conducted in this area. Merc
intends to prospect the showing as part of this summer's field
program. West Cass Property Located at the west end of Indin Lake,
the West Cass property lies within the mafic volcanic - sedimentary
rock contact zone, a setting similar to the Diversified, North
Inca, Lexindin, and Kim gold deposits. Historic surface sampling of
quartz veins returned assays up to 5.96 grams gold per tonne, and
surface grab samples up to 52.8 grams gold per tonne. Three short
holes were previously drilled to test the vein structure with
assays as high as 7.80 grams gold per tonne reported. Additional
work is planned by Merc in 2011 prior to drilling. Knob Lake
Property The Knob Lake property is located 5.0 kilometres northeast
of the Diversified Mine within a prominent shear zone cutting
sedimentary rocks; a setting similar to that described for the
Diversified and North Inca gold deposits. Historic sampling
was limited to surface grab and channel samples taken from shear
hosted quartz carbonate stockwork veins that returned values up to
8.35 grams gold per tonne. Drilling will be contingent upon
the results of the 2011 summer work program. About Merc
International Minerals Inc. Merc is a Canadian-based exploration
company focused on acquiring and developing gold mineral properties
in the Northwest Territories. Its primary land position covers
209,763 acres or 84,888 hectares in the Indin Lake Gold Camp,
located approximately 200 kilometres north of Yellowknife,
Northwest Territories. The technical information in this news
release was reviewed and approved by Merc Director, Dr. Michael J.
Byron, a Qualified Person under NI 43-101. 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.
Forward-Looking Statements Certain information set forth in this
news release may contain forward-looking statements that involve
substantial known and unknown risks and uncertainties. These
forward-looking statements are subject to numerous risks and
uncertainties, certain of which are beyond the control of Merc,
including, but not limited to, the impact of general economic
conditions, industry conditions, volatility of commodity prices,
risks associated with the uncertainty of exploration results and
estimates, currency fluctuations, dependency upon regulatory
approvals, the uncertainty of obtaining additional financing and
exploration risk. Readers are cautioned that the assumptions used
in the preparation of such information, although considered
reasonable at the time of preparation, may prove to be imprecise
and, as such, undue reliance should not be placed on
forward-looking statements. This press release is not, and is not
to be construed in any way as, an offer to buy or sell securities
in the United States. To view this news release in HTML formatting,
please use the following URL:
http://www.newswire.ca/en/releases/archive/April2011/26/c6721.html
p bDavid Wiley, President and CEO/bbr/ Merc International Minerals
Inc.br/ (647) 260-1247br/ (416) 363-4567 (FAX)br/ Email: a
href="mailto:dwiley@mercinternational.ca"udwiley@mercinternational.ca/u/a
/p p align="justify" bMehdi Azodi, Vice President Investor
Relations /bbr/ Merc International Minerals Inc.br/ (416)
779-3268br/ (416) 363-4567 (FAX)br/ Email: a
href="mailto:mazodi@mercinternational.ca"umazodi@mercinternational.ca/u/a
/p
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