NEWS RELEASE 08-07
Merit Mining Corp.
Reports 6.1 Metre Intercept
Grading 50.62 g/t Au
from Golden Crown Drilling
February 27, 2008
– Vancouver, British Columbia. Merit Mining Corp.
announces that it has received all assays from its fall 2007 diamond drill
program on the Golden Crown property. The Golden Crown Property is part of the
Company’s Greenwood Gold Project, near Greenwood,
BC, where mill start up is on schedule for March
2008 to commence processing of a 10,000 tonne underground bulk sample from the
Lexington-Grenoble mine.
The Company completed a 509 metre, 6 hole surface diamond drill program
on the Golden Crown Property in late November 2007. The program was designed to
test down dip extensions of the King Vein as well as to obtain samples for
metallurgical test work.
Holes GCD07-01 and GCD07-02 tested for the downdip projection of the
King Vein to a vertical depth of 150 metres. The King Vein forms the bulk of the
current resource of the vein system at Golden Crown. Although the holes did not
encounter King Vein mineralization, hole GCD07-02 did encounter the eastern
extension of the Samaritan Vein, resulting in an intercept of 10.86 g/t Au
across 3.03 metres. This hole will add to the property
resource base. Additional downdip
drill testing of the King Vein is anticipated.
Holes GCD07-03 through GCD07-06 were designed to capture near surface
samples of the King Vein for metallurgical test work. The King Vein is exposed
on surface by previous trenching. Three of the four holes encountered typical
King Vein material. Hole GCD07-03 returned an intercept of 6.10 metres grading
50.62 g/t Au.
Highlights of the fall 2007 Golden Crown drill program are as follows:
|
Hole
|
From (m)
|
To (m)
|
Length (m)
|
Estimated
True Thickness(m)
|
Gold
(g/t)
|
Copper (%)
|
|
GCD07-02
|
58.00
|
61.03
|
3.03
|
2.12
|
10.86
|
0.27
|
|
GCD07-03
|
21.90
|
28.00
|
6.10
|
3.35
|
50.62
|
0.84
|
|
GCD07-04
|
10.15
|
10.55
|
0.40
|
0.32
|
7.78
|
1.38
|
|
GCD07-06
|
9.70
|
10.85
|
1.15
|
0.93
|
14.8
|
0.61
|
The 2007 surface drill program was supervised by John Rus and Henry
Castillo, geologists for Merit Mining and directed by Paul Cowley, P.Geo., Vice
President Exploration for Merit, Qualified Person for the Company. Appropriate
QA/QC protocols were followed. Standards and blanks were inserted into the
sample sequence. The HQ drill core was cut in half and sent to Eco
Tech Laboratory of Kamloops for fire assay and ICP analyses.
Merit Mining Corp.
Signed “Fred
Sveinson”
Fred Sveinson, President & CEO
For further information
please contact:
Fred Sveinson
at (604) 694-2344
For Investor
Relations Information Contact:
MarketSmart
Communications (604) 261-4466
(Toll Free 1-877-261-4466)
The TSX
Venture Exchange has not reviewed and does not accept responsibility for the
adequacy or accuracy of this release.
Paul Cowley, P.Geo., VP Exploration of
Merit Mining Corp., is the Qualified Person as defined in National Instrument
43-101, who has reviewed and approved the technical content of this news
release.
The statements made in this News Release may contain certain
forward-looking statements. Actual events or results may differ from the Company’s
expectations. Certain risk
factors may also affect the actual results achieved by the Company.
