Merc International Minerals Inc. (TSXV:MRK)
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TORONTO, June 15, 2011 /CNW/ --
www.mercinternational.ca
Highlights include the following intersections:
-- 6.86 g/t Au over 26.00 metres, including 44.34 g/t Au over 3.45
metres from hole NI11-02;
-- 7.23 g/t Au over 11.75 metres, including 11.38 g/t Au over 7.40
metres from hole DV11-02C; and
-- 1.82 g/t Au over 23.00 metres, including 2.21 g/t Au over 6.00
metres from hole NI11-01
TORONTO, June 15, 2011 /CNW/ - Merc International Minerals Inc. ("Merc")
(TSX Venture: MRK) announced today the results from the final 12 holes
of the recently completed 2011 Phase I drill program at its Treasure
Island, North Inca, and Diversified gold projects. Of the 17 holes
drilled (4,319 metres total) on the three Indin Lake greenstone belt
properties, visible gold was reported in 11 of the holes and all holes
intersected gold mineralization.
Merc President and CEO, David Wiley, commented, "We believe that these
results are further evidence that a high-grade gold system is present
within Merc's expansive Indin Lake land position. The Phase I program
has validated our approach to exploring the Indin Lake greenstone belt
and far exceeded our expectations. We are finding that the widths
associated with our gold intercepts are much more substantial than what
the historical data had led us to believe. Furthermore, the zones
tested to date continue to be open in all directions. The Phase II
program will focus on extending and potentially connecting the deposits
along strike, which will enable us to begin defining one or multiple
ore bodies."
North Inca and Diversified Results
Merc drilled five holes at its North Inca project and assay highlights
include 6.86 gram per tonne gold ("g/t Au") over 26.0 metres, including 44.34
g/t Au over 3.45 metres from drill hole NI11-02; 1.60 g/t Au over 19.85 metres, including 5.26
g/t Au over 3.15 metres from drill hole NI11-01B; 1.82 g/t Au over
23.00 metres, including 8.98 g/t Au over 1.51 metres from drill hole
NI11-01; and 7.18 g/t Au over 2.50 metres from drill hole NI11-02C.
These results confirm the high-grade nature of the North Inca
mineralization while demonstrating, for the first time, the substantial
widths of the gold zones.
Merc drilled seven holes at its Diversified project and assay highlights
include 7.23g/t Au over 11.75 metres, including 11.38 g/t Au over 7.40 metres from drill hole DV11-02C; 8.64 g/t Au over 1.95 metres from drill hole
DV11-02; 3.25 g/t Au over 7.79 metres from drill hole DV11-01; and 9.33
g/t Au over 1.17 metres from drill hole DV11-03. These results extend
the high-grade mineralization to new depths and confirm the potential
for significant zone widths.
To view a North Inca map please visit: http://files.newswire.ca/926/NorthInca.pdf
Highlights of Gold Intersections from Diversified and North Inca
From To Core
Drill Hole (metres) (metres) Length* g/t Au
(metres)
DV11-01 65.50 67.00 1.50 2.79
92.00 92.50 0.50 1.97
100.00 107.79 7.79 3.25
including 100.60 101.79 1.19 4.81
including 102.90 105.40 2.50 4.93
including 104.90 105.40 0.50 9.39
DV11-01B 164.50 172.00 7.50 1.03
including 165.00 167.00 2.00 2.77
including 166.60 167.00 0.40 5.73
DV11-01C 109.50 110.50 1.00 1.54
117.50 120.50 3.00 2.93
130.75 131.75 1.00 3.94
DV11-02 126.30 128.25 1.95 8.64
including 127.65 128.25 0.60 23.00
DV11-02B 149.00 152.50 3.50 1.17
including 149.50 151.00 1.50 2.21
including 150.50 151.00 0.50 4.55
DV11-02C 115.00 128.50 13.50 0.45
including 115.00 116.00 1.00 1.66
205.00 216.75 11.75 7.23
including 205.00 212.40 7.40 11.38
including 208.75 212.40 3.65 21.66
including 211.75 212.40 0.65 100.50
DV11-03 148.00 164.17 16.17 1.15
including 150.00 151.00 1.00 5.26
including 155.00 156.00 1.00 1.19
including 163.00 164.17 1.17 9.33
including 163.00 163.60 0.60 17.55
NI11-01 31.50 32.50 1.00 4.89
including 32.00 32.50 0.50 7.72
101.00 124.00 23.00 1.82
including 101.00 107.00 6.00 2.21
including 101.00 102.93 1.93 4.73
including 102.43 102.93 0.50 9.30
including 106.50 107.00 0.50 4.38
including 108.12 108.62 0.50 3.16
including 113.64 115.15 1.51 8.98
including 114.14 114.65 0.51 21.70
including 119.60 121.00 1.40 2.73
including 123.00 124.00 1.00 3.07
NI11-01B 79.65 99.00 19.85 1.60
including 81.65 84.80 3.15 5.26
including 83.80 84.30 0.50 28.70
including 88.50 89.50 1.00 7.52
including 89.00 89.50 0.50 13.85
96.00 97.00 1.00 3.18
NI11-02 96.75 123.00 26.00 6.86
including 100.30 103.75 3.45 44.34
including 100.80 102.75 1.95 78.30
including 101.25 102.25 1.00 151.82
including 101.25 101.75 0.50 294.00
including 113.75 122.25 8.50 2.64
including 117.25 118.00 0.75 11.90
NI11-02B abandoned
NI11-02C 93.00 102.75 9.75 2.65
including 98.00 100.50 2.50 7.18
including 99.00 99.75 0.75 15.55
NI11-03 118.00 121.00 3.00 0.71
including 120.50 121.00 0.50 1.96
* Lengths are reported as core lengths. True widths are unknown at this
time.
Merc recently reported on the results of the five Treasure Island drill
holes, all of which intersected gold mineralization, while collectively
defining a 200 metre wide mineralized corridor open at depth and
extending for a projected strike length upwards of six kilometres (see May 31, 2011 news release at http://www.mercinternational.ca/newsReleases/2011/MAY31-2011.PDF).
Merc has resumed its ongoing drill programs at Diversified and North
Inca, kicking off Phase II in early June. Soon the drilling will begin
testing the area between the North Inca and Diversified deposits. Merc
believes significant opportunities exist within the 500 metre wide
mineralized structure that runs between and beyond North Inca to the
south and Lexindin to the north, a distance of 2.5 kilometres.
Additional historical gold showings along the Leta Arm Fault Zone
extend the target area to an excess of six kilometres. An extensive
prospecting and mapping program on several other high-priority deposits
and mineralized showings within the Indin Lake gold project was also
initiated in early June, including both the Treasure Island and Leta
Arm Fault Zone.
About the Diversified Corridor
The Diversified Corridor lies 210 kilometres north of Yellowknife,
Northwest Territories, along the northern extension of the West Bay -
Indin Lake Fault Zone (WBILFZ); a major regional structure hosting the
former producing Giant and Con Gold mines to the south (13 million
ounces of historic gold production). The Leta Arm Fault Zone, a 500
metre wide structural corridor within the northern extension of the
WBILFZ, transects the central portion of the Indin Lake Belt, hosting
four historic gold deposits (Diversified, North Inca, Lexindin, Number
3), as well as several gold showings.
Exploration shafts and limited underground development were completed on
the North Inca and Diversified deposits in the 1940's to explore
multi-stage quartz veins characterized by high-grade gold
mineralization. The Diversified deposit lies 1.3 kilometres north of
North Inca with the Number 3 deposit lying between them and the
Lexindin deposit an additional1.2 kilometres north of the Diversified.
All deposits are open laterally and vertically suggesting the
possibility that they are part of a single large system.
North Inca Deposit
North Inca consists of at least 3 parallel north striking silicified
zones of variable widths. Historical development was limited to
vertical depths of less than 100 metres, leaving the deposit open to
exploration at depth. Moreover, the en-echelon nature of the vein sets
indicates the potential for the deposit to continue along strike.
Phase I drilling was designed to test the East Zone, the eastern most
mineralized zone within host metasedimentary units. Five holes were
drilled from three lake setups to validate the limited historical data,
expand zones to depth, and test for new zones laterally. Results to
date are encouraging as several high-grade intersections are reported,
with zone widths much wider than previously recognized. Phase II
drilling is currently in progress testing two near surface mineral
zones located 150 metres west of the East Zone within host metavolcanic
rocks. North Inca remains a prime target, and one that Merc believes
has the grade and widths to warrant a continued and rapid ongoing
exploration program.
Diversified Deposit
The Diversified deposit shares similar characteristics to the North Inca
deposit. The deposit's "Main Zone", which lies within metasedimentary
rocks, has been traced for 220 metres based upon historical drilling
and underground development. Merc's Phase I drilling has confirmed the
high-grade nature of the deposit's mineralization, defined zone widths
that significantly exceed those previously reported, and extended the
high-grade mineralization to new depths. All mineralized zones remain
open laterally and to depth.
Lexindin Deposit
The Lexindin Deposit is located approximately 1.2 kilometres north of
the Diversified shaft. Tensional, en-echelon, quartz veins lying
obliquely to branches of the main shear zone make up the mineralized
zones at Lexindin. Veins dip steeply north within the 40 metre to 60
metre wide shear zone and open-up laterally with increased depth.
Exploration drilling has been limited to less than 150 metres vertical
depth with historical intersections of 113.80 g/t Au over 3.05 metres,
18.85 g/t Au over 1.53 metres, and 22.97 g/t Au over 2.37 metres.
Initial drilling at Lexindin will be part of our Phase II program with
the goal of establishing mineralized continuity between the various
deposits within the Leta Arm Fault Zone.
About Merc International Minerals Inc.
Merc is a Canadian-based exploration company focused on acquiring and
developing gold mineral properties in the NWT. 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, NWT.
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/June2011/15/c6172.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