Merc commences drilling at Colomac Gold Property
22 März 2012 - 1:30PM
PR Newswire (Canada)
www.mercinternational.ca TORONTO, March 22, 2012 /CNW/ - Merc
International Minerals Inc. ("Merc") is pleased to announce it has
commenced its winter 2012 drilling program at its 100% owned
Colomac Gold Property in the Northwest Territories. Highlights: --
Merc has commenced its winter 2012 drill program at its Colomac
Gold Property by deploying two diamond drills. Merc expects to
drill 5,000 metres in the winter program followed up by an
additional 10,000 metre drill program in the summer of 2012; --
Drills will test targets located within two high priority areas
along the 7 kilometre long Colomac Dyke; -- Drilling objectives are
to verify historic reports of a high-grade gold shoot at the
Colomac Dyke South Zone, to confirm that gold mineralization
extends to depth below the previously mined main pit at the Colomac
Dyke Central Zone and to infill and expand the previously reported
NI 43-101 compliant resource; and -- Construction of a large
capacity exploration camp has commenced at Colomac, and is expected
to be completed prior to the start-up of the 2012 summer drill
program. Following the receipt of its Land Use Permit, previously
announced on February 29, 2012, Merc began moving materials to
Colomac on the recently completed ice road. Construction of a large
capacity exploration camp is currently in progress and is scheduled
to be finished by early summer. The Colomac camp will become the
main facility supporting all future activities within Merc's Indin
Lake Gold Project area. Both drills are currently drilling from ice
setups on Baton Lake, testing mineralization to depth within the
host quartz-feldspar porphyry dyke, (the Colomac Dyke). One drill
will focus on infilling and expanding the current resource, as well
as exploring for the presence of high-grade mineralized shoots
below the main pit. The second drill is located 2.5 kilometres
south along the west shore of Baton Lake. Drilling at this
location will verify historical reports of a high-grade gold shoot
discovered within the Colomac Dyke South Zone by Royal Oak Mines in
1997. This type of mineralization represents a new opportunity at
Colomac, as high-grade shoots were previously not recognized or
explored for, nor have they ever been included in any previous
Colomac resource calculation. Drilling is expected to continue in
this area into the summer program. Merc President and CEO, David
Wiley, commented, "We are especially excited to announce that we
have kicked off our winter 2012 drill program. As previously
mentioned, our focus with this phase of drilling at the Colomac
Gold Property will be on expanding and upgrading our previously
announced NI 43-101 Inferred Mineral Resource estimate. In
particular, we look forward to learning more about the potential of
the high-grade gold shoot that has historically been reported to
exist at the Colomac Dyke South zone. If confirmed, we expect
the high-grade shoot will have a positive impact on both the
overall size and average grade of our resource." For further
information on the Colomac Gold Property, refer to Merc's January
26 and February 22, 2012 news releases. Merc International Minerals
Inc. Merc is a Canadian-based exploration company focused on
acquiring and developing gold mineral properties in the Northwest
Territories. Its land position covers 222,293 acres or 900 square
kilometres in the Indin Lake Gold Camp, located approximately 220
kilometres north of Yellowknife, NWT. The technical aspects of this
press release have been reviewed by Michael Byron, Ph.D., P.Geol.,
Chief Geologist and Director for Merc, who is the "Qualified
Person" as defined by NI 43-101 for this project. Neither the 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 news release.
Forward-Looking Information This news release contains
"forward-looking information" within the meaning of applicable
Canadian securities legislation. Forward-looking information
includes, but is not limited to, information with respect to the
completion of the Offering, TSX Venture Exchange acceptance and use
of proceeds. Generally, forward-looking information can be
identified by the use of forward-looking terminology such as
"plans", "expects", or "does not expect", "is expected", "budget",
"scheduled", "estimates", "forecasts", "intends", "anticipates", or
"does not anticipate", or "believes" or variations of such words
and phrases or state that certain actions, events or results "may",
"could", "would", "might", or "will be taken", "occur", or "be
achieved". Forward-looking information is based on the opinions and
estimates of management at the date the information is made, and is
based on a number of assumptions and is subject to known and
unknown risks, uncertainties and other factors that may cause the
actual results, level of activity, performance or achievements of
Merc to be materially different from those expressed or implied by
such forward-looking information, including risks associated with
the exploration, development and mining such as economic factors as
they effect exploration, future commodity prices, changes in
foreign exchange and interest rates, actual results of current
exploration activities, government regulation, political or
economic developments, environmental risks, permitting timelines,
capital expenditures, operating or technical difficulties in
connection with development activities, employee relations, the
speculative nature of gold exploration and development, including
the risks of diminishing quantities of grades of reserves, contests
over title to properties, and changes in project parameters as
plans continue to be refined as well as those risk factors
discussed in Merc's management discussion and analysis for the year
ended July 31, 2011, available on www.sedar.com. Although
Merc has attempted to identify important factors that could cause
actual results to differ materially from those contained in
forward-looking information, there may be other factors that cause
results not to be as anticipated, estimated or intended. There can
be no assurance that such information will prove to be accurate, as
actual results and future events could differ materially from those
anticipated in such information. Accordingly, readers should not
place undue reliance on forward-looking information. Merc does not
undertake to update any forward-looking information, except in
accordance with applicable securities laws. Merc International
Minerals Inc. CONTACT: David Wiley, President and CEO Merc
International Minerals Inc.(647) 260-1247(416) 363-4567 (FAX)Email:
dwiley@mercinternational.caDaniel Boase, Investor RelationsFirst
Canadian Capital Corp.(416) 742-5600 ext 232 Email:
dboase@firstcanadiancapital.com
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