Merc International Minerals Inc. (TSXV:MRK)
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TORONTO, May 31, 2011 /CNW/ --
Highlights include intersections for new and extended gold zones:
-- 0.74 g/t Au over 215 metres, including 14.43 g/t Au over 4.0
metres in hole TI11-01B;
-- 0.73 g/t Au over 238.4 metres, including 72.90 g/t Au over 0.87
metres in hole TI11-03B;
-- 12.59 g/t Au over 1.25 metres including 31.1 g/t Au over 0.5
metres in hole TI11-01; and
-- Gold system extended to 250 metres vertical depth - open at
depth and along strike
TORONTO, May 31, 2011 /CNW/ - Merc International Minerals Inc. ("Merc")
(TSX Venture: MRK) is pleased to report the completion of the first
phase of its 2011 drilling program on its Indin Lake greenstone belt
projects. Eighteen holes were drilled (4,319 metres) on the Treasure
Island, Diversified, and North Inca properties. Visible gold was
observed in nine of the initial drill cores. This release reports the
results of the first five holes drilled at Treasure Island. All five
holes intersected gold mineralization. New zones were discovered near
surface and at depth, including several high-grade gold zones.
Drilling has established the width of this gold system to over 200
metres, and it remains open along strike and at depth. A historic drill
hole intersected similar mineralization over four kilometres to the
east at Laurie Lake, indicating the untested potential of this
mineralized corridor. Assay results are pending for the thirteen holes
completed at Diversified and North Inca.
David Wiley, President and CEO of Merc commented: "We're exceptionally
pleased with the results of our exploration efforts on the property.
The program met our objectives of confirming historic gold
mineralization along a 200 metre strike length, within a zone of up to
200 metres width and to depths of as much as 250 metres. The results
from this program coupled with the detailed historical data we have
been able to compile for this mineralized system will enable our
geologic team, lead by Dr. Michael Byron, to continue to further
advance exploration efforts on our approximate 85,000 hectare land
package. Drilling is scheduled to resume in June, following the spring
break-up."
Treasure Island Results
Drilling at Treasure Island targeted a robust gold system (see assay
composite table) of stacked mineralized zones associated with a 200
metre wide envelope of silicification near the volcanic
rock-sedimentary rock contact. With these results, Merc accomplished
its primary objectives of confirming historic reports of gold along
this contact region, testing and extending existing zones in all
dimensions, and confirming new zones at depth. Assay highlights
include 12.59 grams per tonne gold ("g/t Au") over 1.25 metres
including 31.1 g/t Au over 0.5 metres from TI11-01 confirming the New
South Zone in this area; 14.43 g/t Au over 4.0 metres including 98.60
g/t Au over 0.5 metres from TI11-01B extending the New South Zone an
additional 150 metres down dip; 44.95 g/t Au over 1.43 metres,
including 72.90 g/t Au over 0.87 metres from TI11-03B representing a
new high-grade zone at a vertical depth of 250 metres. Shallow
mineralization was intersected by all holes within mafic volcanic rocks
immediately north of the Gamble Dyke, a quartz-feldspar porphyry dyke
that runs parallel to the volcanic rock - sedimentary rock contact.
This new zone was traced for over 150 metres and remains open in all
dimensions, representing an additional target opportunity.
Treasure Island, the northern most property in Merc's Indin Lake Gold
Camp land package, is located 265 kilometres north of Yellowknife,
Northwest Territories ("NWT"), and lies within a 6 km mineralized
corridor that hosts several high-priority gold showings. The area
between the main deposit and the East Zone (600 metres east) remains
untested, as does the 4 kilometres that separates Treasure Island from
the Laurie Lake showing to the west, which leaves more than 95% of this
mineralized corridor yet to be drill tested. Mineralization similar to
Treasure Island's Main Zone (historical drill intercepts of 34.0 g/t Au
over 1.1 metres and surface trench samples up to 73.2 g/t Au) has been
reported to the east and west and highlights the opportunities
available within the corridor.
The reported high-grade intersections are continuous for over 150 metres
along strike (open) and down dip (open). New high-grade gold zones
were also discovered at depth within altered sedimentary rocks, and
near surface within the mafic volcanic host rock. Treasure Island
represents an exciting new opportunity for Merc as this initial drill
program signals the project's potential for advancement towards a near
surface bulk mineable prospect as well as a high-grade vein type
deposit.
To view a map of the Treasure Island - Laurie Lake Area, please go to http://files.newswire.ca/926/TreasureIsland.pdf
Assay composites define gold mineralized envelope
(sedimentary rock/volcanic rock corridor)
_________________________________________________________________
|Drill Hole|From (metres)|To (metres)|Core Length* (metres)|g/t Au|
|__________|_____________|___________|_____________________|______|
|T11-01 | 35.00 | 139.00 | 104.00 | 0.58 |
|T11-01B | 71.00 | 286.00 | 215.00 | 0.74 |
|T11-02 | 75.00 | 162.00 | 87.00 | 0.40 |
|T11-03 | 17.00 | 120.50 | 103.50 | 0.65 |
|T11-03B | 27.00 | 265.43 | 238.43 | 0.73 |
|__________|_____________|___________|_____________________|______|
Highlights of Gold Intersections from Treasure Island
_________________________________________________________________
|Drill Hole|From (metres)|To (metres)|Core Length* (metres)|g/t Au|
|__________|_____________|___________|_____________________|______|
| T11-01 | 48.50 | 51.00 | 2.50 | 1.46 |
| | 81.00 | 95.00 | 14.00 | 1.58 |
|including | 81.00 | 83.00 | 2.00 | 4.45 |
| | 90.50 | 95.00 | 4.50 | 1.93 |
|including | 90.50 | 93.00 | 2.50 | 2.34 |
| | 133.00 | 134.25 | 1.25 |12.59 |
|including | 133.75 | 134.25 | 0.50 |31.10 |
|__________|_____________|___________|_____________________|______|
| T11-01B | 15.00 | 17.00 | 2.00 | 4.91 |
| | 71.00 | 75.00 | 4.00 | 2.80 |
| | 84.00 | 87.00 | 3.00 | 4.12 |
|Including | 85.00 | 86.00 | 1.00 | 8.61 |
| | 133.25 | 143.60 | 10.35 | 2.72 |
|including | 134.50 | 136.00 | 1.50 |10.25 |
|including | 141.50 | 143.00 | 1.50 | 2.79 |
| | 206.00 | 235.00 | 29.00 | 2.45 |
|including | 210.00 | 224.00 | 14.00 | 4.81 |
|including | 216.00 | 224.00 | 8.00 | 7.82 |
|including | 220.00 | 224.00 | 4.00 |14.43 |
|including | 223.50 | 224.00 | 0.50 |98.60 |
| | 284.00 | 286.00 | 2.00 | 3.20 |
|__________|_____________|___________|_____________________|______|
| T11-02 | 75.00 | 76.25 | 1.25 | 3.78 |
| | 84.50 | 85.07 | 0.57 | 1.46 |
| | 146.00 | 149.00 | 3.00 | 1.93 |
|__________|_____________|___________|_____________________|______|
| T11-03 | 18.00 | 26.00 | 8.00 | 2.34 |
|including | 22.00 | 22.98 | 0.98 | 4.45 |
| | 38.00 | 39.00 | 1.00 | 3.11 |
| | 74.00 | 75.05 | 1.05 | 2.79 |
| | 112.00 | 114.76 | 2.76 | 3.04 |
| | 171.50 | 172.00 | 0.50 | 5.89 |
|__________|_____________|___________|_____________________|______|
| T11-03B | 27.00 | 82.00 | 55.00 | 1.16 |
|including | 28.00 | 31.00 | 3.00 | 4.48 |
|including | 45.50 | 48.50 | 3.00 | 2.50 |
|including | 51.00 | 52.00 | 1.00 | 1.70 |
|including | 68.33 | 75.25 | 6.92 | 3.23 |
|including | 73.50 | 74.22 | 0.72 | 6.02 |
| | 92.00 | 92.74 | 0.74 | 4.35 |
| | 166.50 | 169.00 | 2.50 | 2.62 |
| | 197.50 | 198.12 | 0.62 | 1.87 |
| | 208.00 | 208.90 | 0.90 | 2.14 |
| | 231.00 | 235.00 | 4.00 | 2.91 |
|including | 233.00 | 234.00 | 1.00 | 5.91 |
| | 264.00 | 265.43 | 1.43 |44.95 |
|including | 264.56 | 265.43 | 0.87 |72.90 |
|__________|_____________|___________|_____________________|______|
* Lengths are reported as core lengths. True widths are unknown at this
time.
Diversified and North Inca Drilling
Merc has completed thirteen core holes to test the targets at the North
Inca and Diversified properties. Assay results are pending and will be
released expeditiously once they are received.
North Inca Deposit
The North Inca deposit consists of 3 parallel, north striking quartz
veins of variable widths. Historical development on the site 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 as well. Six historic holes were drilled 500 metres north of
the North Inca deposit testing quartz veining believed to be the
deposit's northern extension. Assay results returned an average grade
of 16.20 g/t Au over an average width of 1.4 metres.
Historical mineralization at North Inca includes a 183 metre section of
vein within the shaft area that averaged 15.08 g/t Au over 1.5 metres
between depths of 48.7 metres to 91.4 metres. Historical surface
trenching also returned high-grade mineralization including 25.7 g/t Au
over 4 metres.
Diversified Deposit
The Diversified deposit shares similar characteristics to the North Inca
deposit and is located approximately 1.2 kilometres to the north. The
deposit's "Main Zone" has been traced for 220 metres on both the 54
metre and 145 metre levels, with an average grade of 9.60 g/t Au over
1.67 metres on the 54 metre level, and 17.30 g/t Au over 1.61 metres on
the 145 metre level. A historical hole drilled in the vicinity of the
shaft area intersected 25.71 g/t Au over 4 metres, attesting to the
high-grade nature of the deposit's mineralization.
Summer Exploration
Merc is scheduled to resume its ongoing drill programs at its
Diversified and North Inca targets in early June after the spring
breakup. At that time an extensive prospecting and mapping program
will also be initiated on several other high-priority deposits and
mineralized showings within the Indin Lake Gold Camp, including both
the Treasure Island and Diversified mineralized corridors.
Merc recently added to its land package (see April 26, 2011 news release at http://www.mercinternational.ca/newsReleases/2011/April26-2011.pdf) consolidating much of the Indin Lake greenstone belt. Merc currently
controls 209,763 acres or 84,888 hectares, ground that contains two
historical gold mines with underground workings, several gold deposits,
and numerous showings; all lying within kilometres of the former
producing Colomac Gold Mine.
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/May2011/31/c8984.html
p align="justify" bDavid Wil/bbey, President and CEO/bbr/ Merc International Minerals Inc.br/ (647) 260-1247br/ (416) 363-4567 (FAX)br/ Email: a href="mailto:dwiley@mercinternational.ca" cr="true"udwiley@mercinternational.ca/u/a /p