Merrex Diamond Drilling Expands
1B Mineralized Zone
HALIFAX, NOVA SCOTIA - (Marketwire September
13, 2011) - Gregory Isenor, P.Geo.,
President and CEO of Merrex Gold Inc. ("Merrex") (TSX Venture: MXI) is pleased to
release assay results for eight additional holes from the 2011 diamond
drill program at the Siribaya Gold Project in
West Mali.
Highlights
- Hole SRD11-107 assays 37 metres of 2.15 g/t Au*
- All infill holes at Zone 1B mineralized
- 34 diamond drill holes totalling
approx 6500 metres
completed to date
- Approximately 23 holes (3,500 metres) remaining of planned 10,000 metre program
SEE MAP ATTACHED
Recent Results
Assays from a further eight diamond drill holes have been received and
processed. A total of 34 holes totalling
approximately 6,500 metres have been completed
with approximately 23 holes totalling 3,500 metres remaining in the planned 10,000 metre program.
Of the eight holes reported here, seven are infill holes within the Zone
1B resource area and all seven holes returned gold mineralization,
details of which are in the Table of Significant Assays below. The eighth
hole was in the 1A substructure and it too was mineralized.
>From the diamond drilling completed to date there are 3297 assays
from a further 17 diamond drill holes yet to be received.
Commentary
"Given the consistent presence of gold mineralization within the
infill diamond drill holes at Zone 1B, it is obvious that the 2011
diamond drill program will be adding ounces to our resource"
commented Merrex President and CEO Greg Isenor. "Hole SRD11-107 assayed 3.61 g/t over 12
m and 2.31 g/t over 12 m, but it is a particularly impressive hole if a
realistic mining width* is considered when the intervals aggregate 2.15
g/t Au over 37 metres. So far I would add
that the diamond drill program is delivering the kind of results that we
were anticipating."
*NOTE: Merrex's standard reporting protocols (as
in the Table of Significant Assays below) dictate that an interval of
>1 metre of < 0.5 g/t requires a new
interval. However, applying realistic mining standards and including
limited mineralized intervals of < 0.5 g/t between intersections can
provide, on occasion, a broader understanding of the mineralization
within a drill hole. Hole SRD11-107, for
example, has 8 significant intersections from 21 -- 86 metres depth. However, when calculated as one
continuous mineralized down-hole interval, the intersection from 26 metres to 63 metres yields 37
metres grading 2.13 g/t Au. See details for hole SRD11-107 below:
HOLE #
|
FROM
|
TO
|
INTERSECTION
|
SRD11 - 107
|
21.0
26.0
26.0
27.0
38.0
40.0
41.0
44.0
56.0
58.0
59.0
61.0
70.0
81.0
|
23.0
38.0
32.0
28.0
40.0
41.0
44.0
56.0
58.0
59.0
61.0
63.0
72.0
86.0
|
0.73 g/t Au over 2.0 m
3.61 g/t Au over 12.0 m
Incl. 6.41 g/t Au
over 6.0 m
Incl. 20.40 g/t Au over 1.0 m
0.35 g/t Au over 2.0 m (dilution)
0.76 g/t Au over 1.0 m
0.07 g/t Au over 3.0 m (dilution)
2.31 g/t Au over 12.0 m
0.27 g/t Au over 2.0 m (dilution)
2.07 g/t Au over 1.0 m
0.37 g/t Au over 2.0 m (dilution)
1.45 g/t Au over 2.0 m
0.67 g/t Au over 2.0 m
0.92 g/t Au over 5.0 m
|
Table of Significant Assays
(see map for drill hole locations)
HOLE #
|
LOCATION
|
FROM
(m)
|
TO
(m)
|
INTERSECTION
(g Au/t)/m
|
SRD11 - 104
|
Zone 1B (infill)
|
14.0
48.0
172.0
176.0
|
15.0
50.0
173.0
177.0
|
0.54 g/t Au over 1.0 m
0.61 g/t Au over 2.0 m
1.04 g/t Au over 1.0 m
1.95 g/t Au over 1.0 m
|
SRD11 - 105
|
Zone 1B (infill)
|
267.0
267.0
270.0
271.0
|
272.0
270.0
271.0
272.0
|
4.61 g/t Au over 5.0 m
Incl. 4.05 g/t Au over 3.0
m
Incl. Lost core over 1.0 m
Incl. 10.90 g/t Au
over 1.0 m
|
SRD11 - 106
|
Zone 1B (infill)
|
68.0
76.0
81.0
86.0
111.0
|
73.0
77.0
84.0
88.0
112.0
|
1.21 g/t Au over 5.0 m
0.86 g/t Au over 1.0 m
0.82 g/t Au over 3.0 m
1.05 g/t Au over 2.0 m
0.82 g/t Au over 1.0 m
|
SRD11 - 107
|
Zone 1B (infill)
|
21.0
26.0
26.0
27.0
40.0
44.0
58.0
61.0
70.0
81.0
|
23.0
38.0
32.0
28.0
41.0
56.0
59.0
63.0
72.0
86.0
|
0.73 g/t Au over 2.0 m
3.61 g/t Au over 12.0 m
Incl. 6.41 g/t Au
over 6.0 m
Incl. 20.40 g/t Au over 1.0 m
0.76 g/t Au over 1.0 m
2.31 g/t Au over 12.0 m
2.07 g/t Au over 1.0 m
1.45 g/t Au over 2.0 m
0.67 g/t Au over 2.0 m
0.92 g/t Au over 5.0 m
|
SRD11 - 108
|
Zone 1B (infill)
|
62.0
|
66.0
|
1.69 g/t Au over
4.0 m
|
SRD11 - 109
|
Zone 1B (infill)
|
4.0
35.0
40.0
95.0
100.0
126.0
132.0
133.0
|
8.0
36.0
44.0
96.0
101.0
132.0
133.0
146.5
|
1.22 g/t Au over 4.0 m
0.58 g/t Au over 1.0 m
0.66 g/t Au over 4.0 m
0.63 g/t Au over 1.0 m
1.73 g/t Au over 1.0 m
1.98 g/t Au over 6.0 m
Lost core over 1.0
m
Assay Results
Pending
|
SRD11 - 115
|
Zone 1B (infill)
|
10.0
38.0
|
11.0
39.0
|
0.85 g/t Au over 1.0 m
4.14 g/t Au over 1.0 m
|
TY-DD-11-44
|
1A substructure
|
189.0
197.0
|
190.0
200.0
|
0.65 g/t Au over 1.0 m
0.62 g/t Au over 3.0 m
|
Note 1: This table includes exhaustively all the mineralized
intersections with a grade > 0.50 g/t Au; these intersections are
considered as significant intersections.
Note 2: Intersections in bold characters refer to intersections
with a grade > 0.50 g/t Au, and a length > 1.0 m; these
intersections appear on the joint map.
Note 3: Intersections are down-hole intervals; true widths are not
known at this time.
2011 Diamond Drilling Program
The Siribaya Gold Project is a Merrex-IAMGOLD Corporation joint project with IAMGOLD
Corporation earning-in for 50% of the project. Vesting of IAMGOLD
Corporation's interest is anticipated for Q4 2011 or Q1 2012.
The plan for the 2011 diamond drill program is for 10,000 metres of drilling including infill drilling within
the Zone 1B NI43-101 resource area, expansion drilling to the north and
south of Zone 1B and targeted drilling within the 1A substructure in the
interpreted northern extension of Zone 1A, all with the objective of
increasing the present NI 43-101 resource estimate (see news release March 1, 2011
for more complete details of the diamond drill program).
(A summary of significant assays are listed above; complete assays
tables are posted on the Company's website.)
Diamond 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
Merrex Gold Inc.
1550 Bedford Highway
Suite 802, Sun Tower
Bedford, NS B4A 1E6
Tel.: (902) 832-5555
Fax: (902) 832-2223
info@merrexgold.com
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.
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