Merc International Minerals Inc. (TSXV:MRK)
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TORONTO, Sept. 6, 2011 /CNW/ --
www.mercinternational.ca
-Intersects 6.08 g/t Au over 16.90 metres, including 22.07 g/t Au over
3.44 metres-
TORONTO, Sept. 6, 2011 /CNW/ - Merc International Minerals Inc. ("Merc")
(TSX Venture: MRK) announces drill results for ten of the twenty-six
holes from its Phase II summer drill program at its Indin Lake Gold
Project in the Northwest Territories. Merc continued to encounter gold
mineralization by drilling 150 metres to the west of the North Inca
Deposit East Zone and stepping-out up to 450 metres south of the
Diversified Deposit. Highlights from the drill results on these areas
include:
-- 6.08 g/t Au over 16.90 metres, including 22.07 g/t Au over 3.44
metres from hole NI11-04;
-- 4.20 g/t Au over 16.50 metres, including 15.72 g/t Au over 2.00
metres from hole NI11-04B;
-- 16.36 g/t Au over 4.81 metres, including 122.50 g/t Au over
0.50 metres from hole NI11-04C;
-- 9.25 g/t Au over 3.73 metres, including 49.60 g/t Au over 0.67
metres from hole NI11-05C; and
-- 14.03 g/t Au over 3.20 metres, including 40.90 g/t Au over 0.50
metres from hole DV11-04B
Merc President and CEO, David Wiley, commented, "These drill results
move Merc one step closer to being able to define an ore body within a
mineralized corridor spanning at least 10 kilometres. We have stepped
out a considerable distance from the Phase I collars and intersected
new zones containing parallel veins of substantial widths to previously
known mineralization. Furthermore, the intersection of mineralization
at the historical #3 Deposit advances Merc's belief that the
Diversified and North Inca Deposits are part of the same structure and
are connected along strike. In the coming weeks, we will continue to
report additional drill assays as they are received while our technical
team works to update geological models and interpret the results."
Merc's Phase II summer drill program consisted of twenty six drill holes
(7,610 metres). Today's reported assay results are for ten of the
twenty-six holes with results pending for the remaining holes. Sixteen
holes were drilled at North Inca (4,898 metres) with eight containing
intersections of visible gold, while three of the nine holes completed
at Diversified (2,475 metres) contained visible gold. Results are also
pending for a single hole drilled at Lexindin (237 metres), a
historically defined near surface deposit located 1.1 kilometres north
of Diversified.
Drilling tested a strike length of approximately 2.4 kilometres along
the Leta Arm Fault Corridor covering four historic gold deposits for
which new zones were discovered and historical zones extended along
strike and to depth (see Figure 1. below). The recent drilling targeted
a series of en-echelon quartz veins and mineralized zones. Both the
North Inca and Diversified properties lie within the Leta Arm Fault
Corridor (previously referred to as the Diversified Corridor), a 500
metre wide deformation zone that locally parallels this main
lithological contact. This structure regionally transects the entire
Indin Lake Gold Camp, which hosts numerous gold deposits and showings.
From To Core
Drill Hole (metres) (metres) Length* g/t Au
(metres)
NI11-04 49.60 66.50 16.90 6.08
including 49.60 53.04 3.44 22.07
including 50.10 50.60 0.50 103.50
including 60.00 66.50 6.50 3.97
including 62.50 63.00 0.50 31.70
81.50 82.00 0.50 3.21
95.50 112.00 16.50 0.96
including 104.50 106.00 1.50 3.96
NI11-04B 51.50 88.50 37.00 2.29
including 51.50 68.00 16.50 4.20
including 51.50 52.70 1.20 15.58
including 63.00 65.00 2.00 15.72
including 64.00 64.50 0.50 41.40
85.00 88.50 3.50 2.15
133.71 140.15 6.44 5.31
135.25 135.75 0.50 45.10
NI11-04C 69.00 73.81 4.81 16.36
including 71.81 72.31 0.50 122.50
including 72.31 72.81 0.50 26.90
NI11-05 51.64 54.17 2.53 0.68
76.58 77.08 0.50 1.82
NI11-05B No significant values
NI11-05C 73.85 77.58 3.73 9.25
including 75.65 76.32 0.67 49.60
155.00 159.50 4.50 1.70
including 158.00 159.50 1.50 4.78
DV11-04 101.00 102.50 1.50 1.19
DV11-04B 265.00 268.20 3.20 14.03
including 266.10 266.60 0.50 40.90
DV11-05 80.70 81.20 0.50 2.41
DV11-05B 24.50 25.00 0.50 3.98
128.50 129.50 1.00 4.35
* Lengths are reported as core lengths. True widths are unknown at this
time.
Figure 1 - 2011 Drill Hole Location Map
To view the 2011 Drill Hole Map, please click here: http://files.newswire.ca/926/2011DHmap.pdf
North Inca Deposit
North Inca consists of several parallel north striking silicified zones
of variable widths hosted by metavolcanic rocks. Historical (1940's)
development was limited to shallow vertical depths, leaving the deposit
open at depth. The en-echelon nature of the vein sets indicates the
deposit's potential to continue along strike. Winter (Phase I) drilling
tested the eastern most mineralized zone (East Zone) situated within
metasediments. Five holes drilled from three lake setups returned
several high-grade intersections with zone widths much wider than
previously recognized (see June 15, 2011 news release). Phase II
drilling targeted near surface mineralization within metavolcanic rock
located 150 metres west (West Zone) of the East Zone. Step out holes
were successful in extending known mineralized zones laterally and to
depth. The holes confirm the high-grade nature of the mineralization
and expand the widths of the mineralized zones. In addition, new zones
were intersected and known zones extended to depths in excess of 100
metres. Visible gold was observed in the most northerly step out hole,
NI11-10, (assays pending) extending the North Inca mineralized
structure over 250 metres northward. North Inca continues to deliver
encouraging results while remaining open in all directions. Drilling to
date has confirmed its high-grade nature, significant mineralized
widths, and the potential to deliver new zones along strike and merge
with the #3 and Diversified Deposits.
Sectional drilling targeted two near surface vein systems within the
West Zone. NI11-04, NI11-04B, and NI11-04C intersected the intended
targets and discovered a third new zone 28 metres further west. NI11-04
intersections for the three zones are 22.07 grams per tonne gold ("g/t Au") over 3.44 metres, including 103.50
g/t Au over 0.50 metres; 3.97 g/t Au over 6.50 metres, including 31.70
g/t Au over 0.5 metres; and 0.96 g/t Au over 16.50 metres, including
3.96 g/t Au over 1.50 metres. NI11-04B (steeper cut) intersected all three zones with the two upper
zones appearing to coalesce into a single broad feature running 2.29 g/t Au over 37.00 metres including 15.72 g/t Au over 2.00 metres. The new lower zone returned 5.31g/t Au over 6.44 metres, including 45.10 g/t Au over 0.50 metres. The steepest hole on the section (NI11-04C) intersected one narrower
zone of 16.36 g/t Au over 4.81 metres, including 122.50 g/t Au over 0.50 metres
and 26.90 g/t Au over 0.50 metres.
Sectional holes NI11-05, NI11-05B, and NI11-05C drilled 40 metres south
of NI11-04, intersected the projected extension of the mineralized
zones. Although all three holes intersected their intended targets,
assay results are variable. NI11-05C, the steepest hole, returned
positive results of 9.25 g/t Au over 3.73 metres, including 49.60 g/t Au over 0.67 metres. To date, mineralization has been drilled to a vertical depth of 150
metres and remains open to the south beneath Indin Lake. Geological
models are currently being updated and resulting interpretations
forthcoming.
Initial drilling of the North Inca West Zone has been positive.
High-grade gold mineralization was intersected over significant widths (22.07 g/t Au over 3.44 metres, 15.72 g/t Au over 2.00 metres, 16.36
g/t Au over 4.81 metres, and 9.25 g/t Au over 3.73 metres). These results are a clear indication of the potential this property
has to host a gold deposit.
#3 Deposit
The #3 Deposit lies along the Leta Arm Fault Corridor 450 metres south
of the Diversified shaft and 800 metres north of the North Inca East
Zone. Merc believes the three metasediment-hosted gold deposits are
part of the same mineralized structure as they have similar gold
grades, mineralized widths, and general morphology, and when viewed in
longitudinal section, share the same orientation.
Six sectional holes were drilled at 40 metre centres in Phase II of
which two are being reported (results are pending for the remaining
four). DV11-04 and DV11-04B tested the downward extension of the #3
deposit, a near surface prospect defined in the 1940's by overburden
trenching and limited diamond drilling to a vertical depth of 50
metres. DV11-04B returned a intersection assaying 14.03 g/t Au over 3.20 metres, including 40.00 g/t Au over 0.50 metres, believed to represent the extension of the #3 Deposit at a vertical
depth of approximately 200 metres. To follow-up, two holes were drilled
at the end of the current program to test the near surface portion of
the deposit. DV11-09 and DV11-09B cut the mineralization at a shallow
downhole depth with several grains of visible gold reported in both
holes. Assay results are pending but are expected to confirm the
continuity of mineralization for over 200 metres in depth. This
represents a material advancement and significant expansion of this
deposit and reaffirms the huge potential present within the Leta Arm
Fault Corridor.
Diversified 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 confirmed the high
grade nature of the deposit's mineralization, defined zone widths that
significantly exceed those previously reported, and extended high grade
mineralization to new depths.
In Phase II two sectional holes were drilled 120 metres south of
previous Phase I drilling. The step-out holes successfully intersected
the projected mineralized horizons returning moderate assay results.
DV11-05B (steeper hole) cut a 1.0 metre section that assayed 4.35 g/t Au at approximately 100 metres
vertical depth. All mineralized zones continue to remain open laterally and to depth.
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.
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.
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.
To view this news release in HTML formatting, please use the following URL: http://www.newswire.ca/en/releases/archive/September2011/06/c8445.html
p bDavid Wiley, President/bb and CEO/bbr/ Merc International Minerals Inc.br/ (647) 260-1247br/ (416) 363-4567 (FAX)br/ Email: a href="mailto:dwiley@mercinternational.ca"dwiley@mercinternational.ca/abr/ a href="http://www.mercinternational.ca"www.mercinternational.ca/a /p