Merc Expands Land Package in Northwest Territories through Staking Program
20 Gennaio 2011 - 2:45PM
PR Newswire (Canada)
TORONTO, Jan. 20 /CNW/ -- TORONTO, Jan. 20 /CNW/ - Merc
International Minerals Inc. ("Merc") (TSXV: MRK) announced
today that it has staked an additional 28 mining claims (45,473
acres or 18,403 hectares) in the Northwest Territories as part of
its expanded gold exploration program. The newly staked ground
consists of several gold showings and forms a buffer linking the
properties Merc recently optioned from Ursa Polaris Developments
Corporation. (See January 10, 2011 news release.) Through this
staking initiative, Merc has consolidated much of the Indin Lake
Gold Camp's ground encompassing the contact region between the
volcanic rocks and sedimentary rocks (contact zone). With these
newly staked claims, Merc has assembled over 50 kilometres of
contact zone that also hosts the Colomac Gold Mine, the Treasure
Island and Laurie Lake gold deposits, the Echo-Indin gold showing,
the North Inca gold deposit, the Diversified gold deposit, the
Lexindon gold deposit, and the Kim gold deposit. "With these
additional claims, we continue to expand our land package and
establish a regional presence in a historic gold camp in the
Northwest Territories that remains underexplored," said David
Wiley, President and CEO of Merc. "We have two drill rigs on site
and will now focus on drilling many of these targets through a
program that is expected to commence in the near future." To view a
map of the Indin Lake property, please go to
http://files.newswire.ca/926/Merc_Indin_Lake.doc. Property
Highlights Spider Lake Area Properties JPK Gold Property The
property is located just east of the Treasure Island gold deposit
and lies within an iron formation, geologically similar to Merc's
Damoti Lake Gold property, the Colomac Gold deposit, and the past
producing Lupin Gold Mine. Historical surface sampling along a
550 metre section of the JPK iron formation returned assays ranging
from 5.04 g/t Au to 15.63 g/t Au. No drilling has been reported for
this area, and as such, JPK represents a primary target to be
tested in 2011. Pop Gold Showing The Pop showing (contact zone) is
located 1 kilometre south of Laurie Lake and is interpreted to lie
within the same stratigraphic horizon as the Treasure Island and
Laurie Lake deposits. Historic sampling of Pop surface trenches
yielded results including 8.7 metres of 13.91 g/t Au, 9.6 metres of
10.88 g/t Au, 11.20 metres of 5.73 g/t Au, and 7.0 metres of 4.76
g/t Au. Additional work is planned in 2011 prior to drilling.
Nautilus Lake Area Properties Swamp Gold Showing The Swamp showing
is located 1.5 kilometres west of Nautilus Lake and 10 kilometres
southwest of the Treasure Island deposit along the contact zone
where it is exposed in several trenches over 150 metres within a
northeast trending shear zone. Prospecting in the 1940s involved
trenching that was re-sampled in the 1980s and returned assay
results with highs of 17.47 g/t Au, 14.64 g/t Au, and 13.20 g/t Au.
Drilling will be contingent upon the results of the 2011 summer
work program. McMeekan Gold Showing The McMeekan showing, located
600 metres east of the south end of Nautilus Lake, consists of
quartz stock-work mineralization within gabbro. Assay results from
historical trenching and surface sampling warrant further
exploration as the showing has yet to be drilled. Historic trench
samples report several 1.0 metre intervals of 1.00 g/t to 5.00 g/t
Au, 2.0 metres of 10.05 g/t Au, 0.35 metres of 23.95 g/t Au, 1.5
metres of 302.51 g/t Au, and 1.5 metres of 1,268.92 g/t
Au. Drilling will be contingent upon the results of the 2011
summer work program. Schwerdt Lake Area Properties Echo-Indin Gold
Property Historical work at Echo-Indin included channel samples
from trenches that returned anomalous gold values, the best being
31.54 g/t Au. Thirty-one holes were also drilled intersecting two
quartz stock-work mineralized zones with an average grade of 9.26
g/t Au. In 1988, re-sampling of five old trenches exposed a north
trending mineralized zone roughly 100 metres by 30 metres. Assay
highlights included channel samples over 1.0 metre returning values
less than detection to 7.00 g/t Au with higher grades of 17.42 g/t
Au and 11.14 g/t Au over 1.0 metre intervals reported. Field work
is planned for the summer of 2011 on this high priority target area
that will include surface prospecting, mapping, locating historic
drill collars, and building a geological model as a base for future
drilling. Lucky Lake and Goose Lake Gold Showings Both the
Lucky Lake and Goose Lake showings occur within a 1.0 metre to 8.0
metres shear zone that appears to be the northward extension of the
Echo-Indin property from the Lex Fault to Schwerdt Lake.
Quartz-carbonate veins and veinlets containing pyrrhotite,
arsenopyrite and pyrite are hosted in contact zone related
silicified basalt. Cross-fractures of flat lying quartz veins were
also noted. Additional exploration work is needed to advance this
area to the drill stage. About Merc International Minerals Merc is
a Canadian-based exploration company focused on acquiring and
developing gold mineral properties in the Northwest Territories.
The company's flagship asset is the Damoti Lake Gold property,
located 200 kilometres north of Yellowknife, Northwest Territories.
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 standards. 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/January2011/20/c3941.html
pbDavid Wiley, President 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/a/p
pb- or -/b/p pbMehdi Azodi, Vice President Investor
Relations /bbr/ Merc International Minerals Inc. br/
(416) 779-3268 br/ (416) 363-4567 (FAX) br/ Email: a
href="mailto:mazodi@mercinternational.ca"mazodi@mercinternational.ca/a/p
br/
Copyright
Grafico Azioni Merc International Minerals Inc. (TSXV:MRK)
Storico
Da Giu 2024 a Lug 2024
Grafico Azioni Merc International Minerals Inc. (TSXV:MRK)
Storico
Da Lug 2023 a Lug 2024