Merc Reports Multiple High-Grade Gold Intercepts, Intersects New Zones at Treasure Island in NWT
31 Maggio 2011 - 1:30PM
PR Newswire (Canada)
TORONTO, May 31, 2011 /CNW/ -- Highlights include intersections for
new and extended gold zones: -- 0.74 g/t Au over 215 metres,
including 14.43 g/t Au over 4.0 metres in hole TI11-01B; -- 0.73
g/t Au over 238.4 metres, including 72.90 g/t Au over 0.87 metres
in hole TI11-03B; -- 12.59 g/t Au over 1.25 metres including 31.1
g/t Au over 0.5 metres in hole TI11-01; and -- Gold system extended
to 250 metres vertical depth - open at depth and along strike
TORONTO, May 31, 2011 /CNW/ - Merc International Minerals Inc.
("Merc") (TSX Venture: MRK) is pleased to report the completion of
the first phase of its 2011 drilling program on its Indin Lake
greenstone belt projects. Eighteen holes were drilled (4,319
metres) on the Treasure Island, Diversified, and North Inca
properties. Visible gold was observed in nine of the initial
drill cores. This release reports the results of the first
five holes drilled at Treasure Island. All five holes intersected
gold mineralization. New zones were discovered near surface
and at depth, including several high-grade gold zones.
Drilling has established the width of this gold system to over 200
metres, and it remains open along strike and at depth. A historic
drill hole intersected similar mineralization over four kilometres
to the east at Laurie Lake, indicating the untested potential of
this mineralized corridor. Assay results are pending for the
thirteen holes completed at Diversified and North Inca. David
Wiley, President and CEO of Merc commented: "We're exceptionally
pleased with the results of our exploration efforts on the
property. The program met our objectives of confirming historic
gold mineralization along a 200 metre strike length, within a zone
of up to 200 metres width and to depths of as much as 250 metres.
The results from this program coupled with the detailed historical
data we have been able to compile for this mineralized system will
enable our geologic team, lead by Dr. Michael Byron, to continue to
further advance exploration efforts on our approximate 85,000
hectare land package. Drilling is scheduled to resume in June,
following the spring break-up." Treasure Island Results Drilling at
Treasure Island targeted a robust gold system (see assay composite
table) of stacked mineralized zones associated with a 200 metre
wide envelope of silicification near the volcanic rock-sedimentary
rock contact. With these results, Merc accomplished its
primary objectives of confirming historic reports of gold along
this contact region, testing and extending existing zones in all
dimensions, and confirming new zones at depth. Assay
highlights include 12.59 grams per tonne gold ("g/t Au") over 1.25
metres including 31.1 g/t Au over 0.5 metres from TI11-01
confirming the New South Zone in this area; 14.43 g/t Au over 4.0
metres including 98.60 g/t Au over 0.5 metres from TI11-01B
extending the New South Zone an additional 150 metres down dip;
44.95 g/t Au over 1.43 metres, including 72.90 g/t Au over 0.87
metres from TI11-03B representing a new high-grade zone at a
vertical depth of 250 metres. Shallow mineralization was
intersected by all holes within mafic volcanic rocks immediately
north of the Gamble Dyke, a quartz-feldspar porphyry dyke that runs
parallel to the volcanic rock - sedimentary rock contact.
This new zone was traced for over 150 metres and remains open in
all dimensions, representing an additional target opportunity.
Treasure Island, the northern most property in Merc's Indin Lake
Gold Camp land package, is located 265 kilometres north of
Yellowknife, Northwest Territories ("NWT"), and lies within a 6 km
mineralized corridor that hosts several high-priority gold
showings. The area between the main deposit and the East Zone (600
metres east) remains untested, as does the 4 kilometres that
separates Treasure Island from the Laurie Lake showing to the west,
which leaves more than 95% of this mineralized corridor yet to be
drill tested. Mineralization similar to Treasure Island's
Main Zone (historical drill intercepts of 34.0 g/t Au over 1.1
metres and surface trench samples up to 73.2 g/t Au) has been
reported to the east and west and highlights the opportunities
available within the corridor. The reported high-grade
intersections are continuous for over 150 metres along strike
(open) and down dip (open). New high-grade gold zones were
also discovered at depth within altered sedimentary rocks, and near
surface within the mafic volcanic host rock. Treasure Island
represents an exciting new opportunity for Merc as this initial
drill program signals the project's potential for advancement
towards a near surface bulk mineable prospect as well as a
high-grade vein type deposit. To view a map of the Treasure Island
- Laurie Lake Area, please go to
http://files.newswire.ca/926/TreasureIsland.pdf Assay composites
define gold mineralized envelope (sedimentary rock/volcanic rock
corridor)
_________________________________________________________________
|Drill Hole|From (metres)|To (metres)|Core Length* (metres)|g/t Au|
|__________|_____________|___________|_____________________|______|
|T11-01 | 35.00 | 139.00 | 104.00 | 0.58 | |T11-01B | 71.00 |
286.00 | 215.00 | 0.74 | |T11-02 | 75.00 | 162.00 | 87.00 | 0.40 |
|T11-03 | 17.00 | 120.50 | 103.50 | 0.65 | |T11-03B | 27.00 |
265.43 | 238.43 | 0.73 |
|__________|_____________|___________|_____________________|______|
Highlights of Gold Intersections from Treasure Island
_________________________________________________________________
|Drill Hole|From (metres)|To (metres)|Core Length* (metres)|g/t Au|
|__________|_____________|___________|_____________________|______|
| T11-01 | 48.50 | 51.00 | 2.50 | 1.46 | | | 81.00 | 95.00 | 14.00
| 1.58 | |including | 81.00 | 83.00 | 2.00 | 4.45 | | | 90.50 |
95.00 | 4.50 | 1.93 | |including | 90.50 | 93.00 | 2.50 | 2.34 | |
| 133.00 | 134.25 | 1.25 |12.59 | |including | 133.75 | 134.25 |
0.50 |31.10 |
|__________|_____________|___________|_____________________|______|
| T11-01B | 15.00 | 17.00 | 2.00 | 4.91 | | | 71.00 | 75.00 | 4.00
| 2.80 | | | 84.00 | 87.00 | 3.00 | 4.12 | |Including | 85.00 |
86.00 | 1.00 | 8.61 | | | 133.25 | 143.60 | 10.35 | 2.72 |
|including | 134.50 | 136.00 | 1.50 |10.25 | |including | 141.50 |
143.00 | 1.50 | 2.79 | | | 206.00 | 235.00 | 29.00 | 2.45 |
|including | 210.00 | 224.00 | 14.00 | 4.81 | |including | 216.00 |
224.00 | 8.00 | 7.82 | |including | 220.00 | 224.00 | 4.00 |14.43 |
|including | 223.50 | 224.00 | 0.50 |98.60 | | | 284.00 | 286.00 |
2.00 | 3.20 |
|__________|_____________|___________|_____________________|______|
| T11-02 | 75.00 | 76.25 | 1.25 | 3.78 | | | 84.50 | 85.07 | 0.57 |
1.46 | | | 146.00 | 149.00 | 3.00 | 1.93 |
|__________|_____________|___________|_____________________|______|
| T11-03 | 18.00 | 26.00 | 8.00 | 2.34 | |including | 22.00 | 22.98
| 0.98 | 4.45 | | | 38.00 | 39.00 | 1.00 | 3.11 | | | 74.00 | 75.05
| 1.05 | 2.79 | | | 112.00 | 114.76 | 2.76 | 3.04 | | | 171.50 |
172.00 | 0.50 | 5.89 |
|__________|_____________|___________|_____________________|______|
| T11-03B | 27.00 | 82.00 | 55.00 | 1.16 | |including | 28.00 |
31.00 | 3.00 | 4.48 | |including | 45.50 | 48.50 | 3.00 | 2.50 |
|including | 51.00 | 52.00 | 1.00 | 1.70 | |including | 68.33 |
75.25 | 6.92 | 3.23 | |including | 73.50 | 74.22 | 0.72 | 6.02 | |
| 92.00 | 92.74 | 0.74 | 4.35 | | | 166.50 | 169.00 | 2.50 | 2.62 |
| | 197.50 | 198.12 | 0.62 | 1.87 | | | 208.00 | 208.90 | 0.90 |
2.14 | | | 231.00 | 235.00 | 4.00 | 2.91 | |including | 233.00 |
234.00 | 1.00 | 5.91 | | | 264.00 | 265.43 | 1.43 |44.95 |
|including | 264.56 | 265.43 | 0.87 |72.90 |
|__________|_____________|___________|_____________________|______|
* Lengths are reported as core lengths. True widths are
unknown at this time. Diversified and North Inca Drilling Merc has
completed thirteen core holes to test the targets at the North Inca
and Diversified properties. Assay results are pending and
will be released expeditiously once they are received. North Inca
Deposit The North Inca deposit consists of 3 parallel, north
striking quartz veins of variable widths. Historical
development on the site was limited to vertical depths of less than
100 metres, leaving the deposit open to exploration at depth.
Moreover, the en-echelon nature of the vein sets indicates the
potential for the deposit to continue along strike as well.
Six historic holes were drilled 500 metres north of the North Inca
deposit testing quartz veining believed to be the deposit's
northern extension. Assay results returned an average grade of
16.20 g/t Au over an average width of 1.4 metres. Historical
mineralization at North Inca includes a 183 metre section of vein
within the shaft area that averaged 15.08 g/t Au over 1.5 metres
between depths of 48.7 metres to 91.4 metres. Historical surface
trenching also returned high-grade mineralization including 25.7
g/t Au over 4 metres. Diversified Deposit The Diversified deposit
shares similar characteristics to the North Inca deposit and is
located approximately 1.2 kilometres to the north. The
deposit's "Main Zone" has been traced for 220 metres on both the 54
metre and 145 metre levels, with an average grade of 9.60 g/t Au
over 1.67 metres on the 54 metre level, and 17.30 g/t Au over 1.61
metres on the 145 metre level. A historical hole drilled in
the vicinity of the shaft area intersected 25.71 g/t Au over 4
metres, attesting to the high-grade nature of the deposit's
mineralization. Summer Exploration Merc is scheduled to resume its
ongoing drill programs at its Diversified and North Inca targets in
early June after the spring breakup. At that time an
extensive prospecting and mapping program will also be initiated on
several other high-priority deposits and mineralized showings
within the Indin Lake Gold Camp, including both the Treasure Island
and Diversified mineralized corridors. Merc recently added to its
land package (see April 26, 2011 news release at
http://www.mercinternational.ca/newsReleases/2011/April26-2011.pdf)
consolidating much of the Indin Lake greenstone belt. Merc
currently controls 209,763 acres or 84,888 hectares, ground that
contains two historical gold mines with underground workings,
several gold deposits, and numerous showings; all lying within
kilometres of the former producing Colomac Gold Mine. 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. 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. 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. To view this news
release in HTML formatting, please use the following URL:
http://www.newswire.ca/en/releases/archive/May2011/31/c8984.html p
align="justify" bDavid Wil/bbey, President and CEO/bbr/ Merc
International Minerals Inc.br/ (647) 260-1247br/ (416) 363-4567
(FAX)br/ Email: a href="mailto:dwiley@mercinternational.ca"
cr="true"udwiley@mercinternational.ca/u/a /p
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