Merc International Minerals Inc.

Published : July 06th, 2010

Intersects 16.12 Grams Gold Per Tonne Over 8.0 Metres and Discovers New Gold Zones at Red Mount

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Keywords :   Gold | Iron |

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Merc International Minerals Inc.

 

July 6, 2010                                                                                                                                                                                                                                         www.mercinternational.ca

 

Merc Intersects 16.12 Grams Gold Per Tonne Over 8.0 Metres and

Discovers New Gold Zones at Red Mountain.

 

Merc International Minerals Inc. ("Merc") (TSXV: MRK) reports results on seven additional drill holes from its recently completed 2010 Winter Drill Program at its Damoti Lake Gold Project, Northwest Territories. All holes were collared within the eastern limb of the Red Mountain syncline, located 125 metres west of the Horseshoe syncline and its associated high-grade gold mineralization.

 

Highlights include: Hole D10-416B which returned 16.12 grams gold per tonne over 8.0 metres, including 60.25 grams gold per tonne over 1.5 metres and 8.50 grams gold per tonne over 4.0 metres, including 18.12 grams gold per tonne over 1.5 metres; Hole D10-418 returned 7.93 grams gold per tonne over 3.00 metres, including 12.40 grams gold per tonne over 1.80 metres, and 2.60 grams gold per tonne over 16.25 metres, including 6.84 grams gold per tonne over 4.25 metres, and 17.90 grams gold per tonne over 1.25 metres. Drill hole D10-416B intersected extensive mineralization extending from near-surface, returning a composite grade of 1.64 grams gold per tonne over 151.40 metres. These intersections represent the best widths and grades ever reported for Red Mountain.

 

Drill holes D10-416, D10-416B, and D10-418 infill and extend, up to 75 metres in length, two of the five mineralized zones within the east limb of the Red Mountain syncline, and confirmed the presence of two new zones at depth.   The intersections also collectively helped to better define a recently identified southeast/northwest trending mineralized corridor that includes the high-grade Horseshoe Zone (125 metres to the east) and a high magnetic feature in association with an induced polarization (IP) anomaly located 250 metres further east of Horseshoe.  Historic work in this latter area returned several anomalous gold values in iron formation from surface samples. This portion of the property remains largely unexplored and highly prospective.

 

Two holes (D10-417 and D10-417B) drilled 40 metres south of hole D10-418, intersected mineralized zones at similar depths to those encountered in D10-418, as well as a new zone at depth.  Two drill holes located further to the south of the Red Mountain ? Horseshoe corridor (D10-423 and D10-423B) intersected the targeted iron formation but returned no significant assay results.  For additional information on drill hole locations and Merc?s drill program please visit Merc?s website www.mercinternational.ca.

 

?We are very encouraged by the total length of mineralization intersected in hole D10-416B and its five internal higher grade zones. This was one of our priority drill targets chosen for its associated IP anomaly.  A similar IP/magnetic anomaly also exists along the eastern perimeter of the mineralized corridor,? stated Dr. Michael Byron, Merc President and CEO.  ?That area has yet to see any focused exploration activity. As our exploration model continues to evolve, this mineralized corridor will play a significant role in our exploration strategy and target identification.?

 

Drilling at Red Mountain was designed to test the continuity of new mineralization discovered by Merc in 2009 and to expand these vertically stacked zones to the north and south.  ?Given the success in this new northern area of the Red Mountain syncline, Merc now awaits with great interest the results of additional holes that were drilled further north along the same structure,? added Dr. Byron.  ?Positive results from these holes will significantly open up Red Mountain by extending the mineralization in excess of 200 metres northward.?

 

Drill Hole

From (m)

To (m)

 Core Length* (m)

 Au (gpt)

D10-416

30.00

47.00

17.00

1.11

including

31.50

32.00

0.50

11.85

including 

44.50

47.00

2.50

2.38

 

89.75

90.50

0.75

5.49

D10-416B

49.00

56.50

7.50

2.50

including

49.00

50.50

1.50

3.81

including 

54.50

56.50

2.00

6.27

including

55.00

55.50

0.50

19.85

 

87.50

95.50

8.00

16.12

including

89.00

91.50

2.50

13.49

including

90.50

91.50

1.00

26.30

including

90.50

91.00

0.50

42.40

including

94.00

95.50

1.50

60.25

including

94.50

95.00

0.50

142.00

 

144.00

150.50

6.50

3.02

including

147.00

148.00

1.00

12.19

 

162.00

166.00

4.00

8.50

including

163.50

165.00

1.50

18.12

including

164.50

165.00

0.50

33.40

 

168.00

168.50

0.50

4.26

 

177.00

184.00

7.00

4.11

including

181.50

182.50

1.00

13.00

including

182.00

182.50

0.50

17.70

total drill hole composite

35.40

186.80

Merc International Minerals Inc.

EXPLORATION STAGE
CODE : MRK.V
ISIN : CA58733X1096
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Merc International is a gold exploration company based in Canada.

Merc International holds various exploration projects in Canada.

Its main exploration properties are BORTHWICK LAKE, DAMOTI LAKE, LAUNAY, DISSON and LA REINE in Canada.

Merc International is listed in Canada. Its market capitalisation is CA$ 18.6 millions as of today (US$ 18.0 millions, € 13.9 millions).

Its stock quote reached its highest recent level on July 04, 2008 at CA$ 1.30, and its lowest recent point on March 20, 2009 at CA$ 0.07.

Merc International has 185 995 000 shares outstanding.

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Annual reports of Merc International Minerals Inc.
2009 Annual Report
Financings of Merc International Minerals Inc.
3/29/2011Completes Final Tranche of Private Placement
3/7/2011Closes $9 Million Private Placement-Appoints Mark Goodman to...
Option Grants of Merc International Minerals Inc.
2/22/2011Grants 190,000 stock options to PR Firm
2/16/2011Grants Stock Options
Nominations of Merc International Minerals Inc.
2/22/2011Retains First Canadian Capital Corp. to Provide Investor Rel...
Project news of Merc International Minerals Inc.
3/24/2011(Treasure Island Canada)COMMENCED DRILLING ON NWT GOLD PROPERTIES
8/4/2010(Damoti Lake)Intersects 9.80 Grams Gold Per Tonne Over 8.5 Metres at Red ...
7/6/2010(Damoti Lake) Intersects 16.12 Grams Gold Per Tonne Over 8.0 Metres and D...
6/15/2010(Damoti Lake)Releases Further Gold Intersections at BIF Island Zone
4/14/2010(Damoti Lake)Resource World Covers Merc International drilling Damoti Lak...
1/26/2010(Damoti Lake)Initiates Geophysical Program at its Damoti Lake Gold Projec...
Corporate news of Merc International Minerals Inc.
4/26/2011Staking Program Expands NWT Land Package by 241%
11/12/2009Merc Discovers New Gold Zone within the Red Mountain Synclin...
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