Drilling resumes
October 19, 2011 08:48 ET
Merrex Gold RC and Diamond Drilling Resumes at Siribaya
HALIFAX, NOVA SCOTIA--(Marketwire - Oct. 19, 2011) -Gregory Isenor, P.Geo., President and CEO of Merrex Gold Inc.("Merrex") (TSX VENTURE:MXI) is pleased to announce that both the 2011RC drilling and diamond drilling programs have resumed at the SiribayaGold Project in West Mali.
2011 Diamond Drilling Program
The Siribaya Gold Project is a Merrex-IAMGOLD Corporationjoint project with IAMGOLD Corporation earning-in for 50% of theproject. Vesting of IAMGOLD Corporation's 50% interest is anticipatedfor Q4 2011.
The exploration plan for the 2011 diamond drill program isfor 10,000 metres of drilling, including infill drilling within the Zone1B NI 43-101 resource area, expansion drilling to the north and southof Zone 1B and targeted drilling, based on the RC drill results withinthe 1A substructure in the interpreted northern extension of Zone 1A.The objective of this drilling is to increase the present NI 43-101resource estimate.
A total of 34 holes totalling approximately 6,500 metres havebeen completed with approximately 23 holes totalling 3,500 metresremaining in the planned 10,000 metre program.
RC Drilling Program
The plan for the RC drill program is for 30,000 metres ofdrilling across the 1A and 1B substructures to: i) investigate thestrike length of the 1A and 1B Siribaya substructures north and south ofZone 1B, and ii) selective infill and off-set drilling along 200 – 300metre spaced fences to follow up on mineralization intersected duringthe 2010 RC drilling.
The 2011 RC drill program will test the Siribayamega-structure with long 'fences' of heel-to-toe RC holes to identifyareas of gold mineralization. This process of outlining a mineralizedfootprint has been very successful to date and facilitated targeting offollow-up diamond drilling.
To date the RC drilling has shown the apparent continuity ofmineralization in the Siribaya mega-structure for four kilometres withinboth the 1A and 1B structures. Previous reconnaissance explorationincluding soil and termite geochemical sampling, RAB drilling,reconnaissance diamond drilling, high resolution airborne geophysicalsurveys, and mapping has outlined the Siribaya mega-structure for 10kilometres.
Of the 30,000 metre program planned for 2011, 21,506 metresof RC drilling was completed prior to the commencement of the seasonalrains.
RC drilling is by BLY Mali SA, the Malian division of BoartLongyear Canada of North Bay, Ontario. The project operator is IAMGOLDCorporation.
Gregory P. Isenor, P. Geo., is the Qualified Person asdefined under NI 43-101 who has reviewed and is responsible for thetechnical 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 withexperienced management, a solid exploration team, a prominentgold-producer as a partner and an expanding gold resource … a winningcombination 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