Merrex RC Drilling Continues to Extend 1A and 1B Mineralized Zones
HALIFAX, NOVA SCOTIA -- (Marketwire) -- 07/19/11 -- Gregory Isenor, P.Geo., President and CEO of Merrex Gold Inc. ('Merrex') (TSX VENTURE: MXI) is pleased to release further assay results from two drill fences of the 2011 RC drill program at the Siribaya Gold Project in West Mali.
RC Drilling Results
RC drilling continues to increase confidence in the continuity and extension of the gold mineralization within the 1A and 1B substructures. Line RC-L-11 (250 metres south of the Zone 1B NI43-101 resource area and between RC-L-2 and RC-L-3) is well mineralized in both substructures and demonstrates the continuity of gold mineralization at Siribaya. The additional assays from line RC-L-4 (1000 metres south of the Zone 1B NI43-101 resource area) increased the number of mineralized holes in that line. (Results from the prior portion of line RC-L-4 were released September 16, 2010 http://www.merrexgold.com/s/NewsReleases.asp?ReportID=420020&_Type=News-Releases&_Title=Merrex-Gold-Siribaya-RC-Drill-Program-Extends-Both-1A-and-1B-Zones)
See Map Attached to this Release: http://media3.marketwire.com/docs/siribaya719.pdf
Commentary
'The footprint of the mineralized area of the Siribaya structure continues to grow and increases our confidence in the ability of this project to deliver a substantial resource,' commented Merrex President and CEO Greg Isenor. 'All RC lines assayed to date are well mineralized and the mineralization is wide-spread. As we continue to explore the 10.5 kilometre Siribaya structure and factor in the continuity of gold mineralization with a NI43-101 resource area that is carrying an average grade of 2.39 g/t and open at depth and to the north and south, our enthusiasm for the Siribaya Gold Project appears well-justified. Our drill programs are well advanced and there will be considerable drill results to be released during the coming months. Throughout our 848 square kilometre property there are numerous other structures in addition to the Siribaya structure including Bambadinka, Babara and Kofia, on which early exploration has delivered very encouraging results. All of these areas are yet to be drilled. Merrex has a great partner in IAMGOLD which, as operator at Siribaya, is advancing the Siribaya project with the same enthusiasm and commitment that we have for the project.'
Table of Significant Assays (see www.merrexgold.com for full assay list)
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Hole # Line # FROM TO INTERSECTION
(m) (m) (gr Au/t)/m
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TYC10 - 052 RC-L-4 2.0 3.0 0.61 gr/t Au over 1.0 m
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TYC10 - 053 RC-L-4 45.0 46.0 1.28 gr/t Au over 1.0 m
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TYC10 - 062 RC-L-4 53.0 54.0 1.28 gr/t Au over 1.0 m
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TYC11 - 069 RC-L-11 89.0 90.0 0.85 gr/t Au over 1.0 m
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TYC11 - 070 RC-L-11 4.0 8.0 0.93 gr/t Au over 4.0 m
10.0 11.0 0.77 gr/t Au over 1.0 m
53.0 55.0 1.47 gr/t Au over 2.0 m
67.0 68.0 3.41 gr/t Au over 1.0 m
85.0 87.0 1.00 gr/t Au over 2.0 m
94.0 95.0 0.60 gr/t Au over 1.0 m
98.0 99.0 1.06 gr/t Au over 1.0 m
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TYC11 - 071 RC-L-11 13.0 16.0 0.62 gr/t Au over 3.0 m
29.0 31.0 0.93 gr/t Au over 2.0 m
34.0 35.0 2.81 gr/t Au over 1.0 m
57.0 60.0 2.49 gr/t Au over 3.0 m
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TYC11 - 072 RC-L-11 27.0 30.0 0.86 gr/t Au over 3.0 m
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TYC11 - 080 RC-L-11 31.0 32.0 0.52 gr/t Au over 1.0 m
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TYC11 - 082 RC-L-11 63.0 64.0 1.49 gr/t Au over 1.0 m
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TYC11 - 084 RC-L-11 20.0 22.0 0.88 gr/t Au over 2.0 m
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TYC11 - 085 RC-L-11 56.0 57.0 1.78 gr/t Au over 1.0 m
RC-L-11 62.0 63.0 0.55 gr/t Au over 1.0 m
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TYC11 - 086 RC-L-11 13.0 15.0 0.64 gr/t Au over 2.0 m
22.0 23.0 0.50 gr/t Au over 1.0 m
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RC Drilling Program
The Siribaya Gold Project is a 50/50 Merrex-IAMGOLD Corporation joint project. The plan for the 2011 RC drill program is for 30,000 metres of drilling across the 1A and 1B substructures to: i) investigate the strike length of the 1A and 1B Siribaya substructures north and south of Zone 1B, and ii) selective infill drilling along 200 - 300 metre spaced fences to follow up on mineralization intersected during 2010 drilling.
To July 18, 2011, a total of 19, 168 metres of RC drilling has been completed of a 30,000 metre program planned for 2011.
(A summary of significant assays is listed above; complete assays tables are posted on the Company's website.)
RC drilling is by BLY Mali SA, the Malian division of Boart Longyear Canada of North Bay, Ontario. The project operator is IAMGOLD Corporation.
Gregory P. Isenor, P. Geo., is the Qualified Person as defined under NI 43-101 who has reviewed and is responsible for the technical information presented in this news release.
For further details about the Siribaya Gold Project visit Merrex's website at www.merrexgold.com.
Merrex is a Mali-focused gold exploration company with experienced management, a solid exploration team, a prominent gold-producer as a partner and an expanding gold resource... a winning combination offering investors an extraordinary opportunity.
Please visit our website at www.merrexgold.com for the most recent corporate presentation.
On Behalf of the Board
Gregory Isenor, P.Geo., President & CEO
This press release includes certain statements that may be deemed 'forward-looking statements'. All statements in this release, other than statements of historical facts, that address future exploration drilling, exploration activities and events or developments that the Company expects, are forward looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions.
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 release.
Contacts:
Merrex Gold Inc.
Gregory Isenor, P.Geo.
President & CEO
(902) 832-5555
(902) 832-2223 (FAX)
info@merrexgold.com
www.merrexgold.com
