NEWS RELEASE
Merrex Gold Diakha Diamond Drilling Results including 19 metres averaging 9.28g/t Au from the Siribaya Gold Project, Mali
HALIFAX, NOVA SCOTIA -- (August 30, 2016) - Greg Isenor, President and CEO of Merrex Gold Inc., ("Merrex" or the "Company") (TSX Venture: MXI) announces:
Highlights
-
19 holes totaling 6,414 metres completed
-
All completed drill holes intersected gold mineralization
-
Hole 185 - 19 metres of 9.28g/t Au
-
Hole 189 - 18 metres of 6.73g/t Au
-
Hole 179 - 38 Metres of 2.37g/t Au
-
Mineralization extended along strike and down dip
The 2016 Diamond Drilling Program
The 2016 diamond drilling program within the current Diakha resource area commenced in the second half of March and finished in late July, 2016 with two rigs active. The drill program was designed as a follow-up to the initial 2015 resource estimate (see details below) and further evaluated the geological model and controls on gold mineralization. The program specifically targeted areas with high-grade intersections near the bottom of the resource pit shell to test the down dip extension of high-grade mineralization.
A total of 19 holes totaling 6,414 metres were completed. All completed holes returned significant gold intercepts including hole 185 returning 19 metres of 9.28g/t Au, hole 189 returning 18 metres of 6.73g/t Au and hole 179 returning 38 metres of 2.37g/t Au. (See Table of Significant Assays below for a complete listing of significant assay results. The Table of Significant Assays was provided by the project operator.)
Although the interpretation of the drilling cross sections is still in progress, the 2016 diamond drilling results are believed to have extended mineralized zones along strike and down-dip where tested.
Additionally, some of the best results are in holes at the north and south ends of the resource area. To the north, where the southern resource area meets the newly permitted northern Diakha strike extension area, the diamond drill assay intervals together with the 2016 RC drill results in the northern extension area, (see News Release July 6, 2016) provide further evidence of the potential to expand the resource to the north with additional drilling. To the south, the strong diamond drill assay intervals, particularly in hole #185, may suggest continuity with previous high grade assay intervals previously reported in this area.
See Map 1 below for locations of drill holes in the southern Diakha resource area reported here.
These diamond drill results, and the RC drill results released July 6, 2016, will be incorporated in an updated resource model as warranted. (See 2015 Resource Estimate Table below.)
Commentary
"We are extremely pleased with the positive results from the 2016 diamond drilling program completed in the Diakha resource area" said Merrex president Greg Isenor. The continuity so far observed along strike and down-dip extensions of
the gold mineralization within the Diakha deposit area is encouraging. Significant additional drilling, both RC and core, will be required to establish the combined size and grade of the expanding 800 metre southern Diakha resource area and the developing 600 metre northern Diakha mineralized zone."
Both this diamond drilling in the Diakha resource area and the RC drilling to the north of the resource area are expected to add to the current resource. Further drilling is required.
Map 1 - Diakha Southern Region 2016 Diamond Drill Results Only
Table of Significant Assays
|
Diakha Deposit Southern Region - Diamond Drill Results - 2016
|
|
Hole#
|
UTM WGS84 Zone29
|
AZ
|
DIP
|
EOH
|
From
|
To
|
Length
|
Gold
|
Gold (capped*)
|
|
Easting
|
Northing
|
Elevation
|
Degree
|
Degree
|
(m)
|
(m)
|
(m)
|
(m)
|
(g/t)
|
(g/t)
|
|
SRD16-172
|
240711
|
1369753
|
156
|
115
|
-60
|
303
|
20
|
24
|
4
|
0.66
|
0.66
|
|
Including
|
88
|
116
|
28
|
0.99
|
0.99
|
|
94
|
98
|
4
|
2.78
|
2.78
|
|
Including
|
101
|
109
|
8
|
1.26
|
1.26
|
|
229
|
231
|
2
|
5.33
|
5.33
|
|
SRD16-173
|
240811
|
1369710
|
161
|
115
|
-60
|
16
|
0
|
3
|
3
|
0.83
|
0.83
|
|
SRD16-174
|
240815
|
1369708
|
171
|
115
|
-60
|
300
|
13
|
23
|
10
|
1.10
|
1.10
|
|
Including
|
29
|
40
|
11
|
0.99
|
0.99
|
|
29
|
32
|
3
|
1.52
|
1.52
|
|
Including
|
35
|
40
|
5
|
1.21
|
1.21
|
|
Including
|
48
|
53
|
5
|
6.53
|
6.53
|
|
62
|
65
|
3
|
0.53
|
0.53
|
|
72
|
80
|
8
|
1.44
|
1.44
|
|
73
|
75
|
4
|
4.79
|
4.79
|
|
Including
|
96
|
102
|
6
|
0.59
|
0.59
|
|
96
|
98
|
2
|
1.18
|
1.18
|
|
120
|
124
|
4
|
1.92
|
1.92
|
|
198
|
204
|
6
|
0.91
|
0.91
|
|
213
|
216
|
3
|
7.42
|
7.42
|
|
SRD16-175
|
240622
|
1369796
|
152
|
115
|
-60
|
400
|
58
|
60
|
2
|
1.47
|
1.47
|
|
Including
|
117
|
119
|
2
|
0.91
|
0.91
|
|
235
|
245
|
10
|
2.69
|
2.69
|
|
235
|
241
|
6
|
4.28
|
4.28
|
|
296
|
298
|
2
|
2.59
|
2.59
|
|
SRD16-176
|
240755
|
1369456
|
169
|
115
|
-60
|
250
|
75
|
77
|
2
|
1.38
|
1.38
|
|
Including
|
192
|
196
|
4
|
0.80
|
0.80
|
|
205
|
214
|
9
|
1.95
|
1.95
|
|
207
|
212
|
5
|
3.16
|
3.16
|
|
SRD16-177
|
240670
|
1369497
|
168
|
115
|
-60
|
375
|
123
|
125
|
2
|
0.56
|
0.56
|
|
190
|
193
|
3
|
0.72
|
0.72
|
|
200
|
204
|
4
|
0.97
|
0.97
|
|
214
|
216
|
2
|
0.56
|
0.56
|
|
272
|
276
|
4
|
0.73
|
0.73
|
|
291
|
293
|
2
|
0.93
|
0.93
|
|
300
|
306
|
6
|
0.70
|
0.70
|
|
315
|
325
|
10
|
0.77
|
0.77
|
|
335
|
339
|
4
|
1.11
|
1.11
|
|
SRD16-178
|
240613
|
1369522
|
171
|
115
|
-60
|
450.6
|
237
|
242
|
5
|
1.42
|
1.42
|
|
412
|
416
|
4
|
0.98
|
0.98
|
|
SRD16-179
|
240772
|
1369338
|
170
|
115
|
-60
|
251.3
|
78
|
116
|
38
|
2.37
|
1.92
|
|
Including
|
83
|
98
|
15
|
3.84
|
2.71
|
|
Including
|
104
|
111
|
7
|
3.62
|
3.62
|
|
176
|
178
|
2
|
2.60
|
2.60
|
|
238
|
249
|
11
|
2.05
|
2.05
|
|
SRD16-180
|
240664
|
1369388
|
167
|
115
|
-60
|
350
|
201
|
205
|
4
|
5.61
|
5.61
|
|
335
|
339
|
4
|
0.85
|
0.85
|
|
SRD16-181
|
240616
|
1369632
|
160
|
115
|
-60
|
450
|
74
|
78
|
4
|
0.67
|
0.67
|
|
Including
|
85
|
87
|
2
|
0.65
|
0.65
|
|
100
|
105
|
5
|
0.68
|
0.68
|
|
161
|
166
|
5
|
1.36
|
1.36
|
|
161
|
163
|
2
|
2.40
|
2.40
|
|
222
|
225
|
3
|
2.37
|
2.37
|
|
415
|
417
|
2
|
0.53
|
0.53
|
|
SRD16-182
|
240907
|
1369167
|
162
|
115
|
-60
|
250
|
25
|
30
|
5
|
3.06
|
3.06
|
|
Including
|
26
|
28
|
2
|
7.02
|
7.02
|
|
56
|
59
|
3
|
0.50
|
0.50
|
|
66
|
68
|
2
|
0.63
|
0.63
|
|
78
|
83
|
5
|
0.58
|
0.58
|
|
104
|
106
|
2
|
0.75
|
0.75
|
|
SRD16-183
|
240824
|
1369206
|
172
|
115
|
-60
|
350.5
|
115
|
127
|
12
|
0.60
|
0.60
|