Merc International Minerals Inc.

Published : August 04th, 2010

Intersects 9.80 Grams Gold Per Tonne Over 8.5 Metres at Red Mountain - Reports Additional Near-

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Merc International Minerals Inc.

 

 

August 4, 2010                                                                                                                                                                                                                   www.mercinternational.ca

 

 

Merc Intersects 9.80 Grams Gold Per Tonne Over 8.5 Metres at Red Mountain -

Reports Additional Near-Surface Mineralization

 

Merc International Minerals Inc. ("Merc") (TSXV: MRK) is pleased to report results on the remaining 13 drill holes from the recently completed 2010 Winter Drill Program at its Damoti Lake Gold Project, Northwest Territories.

 

Eight holes were collared within the eastern limb of the Red Mountain syncline as part of the ongoing evaluation of this mineralized fold structure. Twenty metres from surface, hole D10-420B intersected 20 metres of 5.60 grams gold per tonne, including 9.80 grams gold per tonne over 8.5 metres.  This hole lies 165 metres north of drill hole D10-416B (see July 6, 2010 news release) which returned a composite assay interval of 151.40 metres of 1.64 grams gold per tonne starting 30 metres below surface.  Hole D10-420B has significantly extended the mineralization northward along Red Mountain?s eastern fold limb and opened up a new area for exploration. Subsequent holes D10-421, 421B, D10-422 and 422B all intersected mineralization north of 10-420B, further extending the target area in excess of 200 metres north of D10-416B.

 

Delineation of a newly defined mineralized corridor, as described in the July 6, 2010 news release, is largely based upon drill results to date, and results from the winter ground geophysics program. The corridor includes the Red Mountain Zone, the high-grade Horseshoe Zone (125 metres to the east of the Red Mountain Zone), and the magnetic high associated with an induced polarization (IP) anomaly located 250 metres further east of Horseshoe.  Current drill results further confirm the presence of this feature and its extension to the north.  Merc is presently working at developing drill targets within the corridor, as this represents an exciting new prospect.

 

?In addition to the high-grade mineralization, drilling at Red Mountain has also identified several near-surface areas of extensive lower grade mineralization that is considered of great exploration significance,? commented Dr. Michael Byron, Merc President and CEO.   ?Coinciding with the large composite lengths reported for previously drilled holes D10-416B and D10-420B, drill hole D10-422B intersected, starting from surface, 86.5 metres grading 0.44 grams gold per tonne. Such pervasive mineralization may be indicative of nearby higher grade zones,? added Dr. Byron. ?These opportunities will be evaluated further upon completion of our geological modeling, as this mineralized setting may be amenable to bulk mining methods.?

 

Drill holes D10-427, 427B and 427C tested the near-surface northern extension of the Horseshoe mineralized zone returning 5.03 grams gold per tonne over 3.5 metres, 14.95 grams gold per tonne over 0.5 metres; 1.0 metre of 14.66 grams gold per tonne, including 0.5 metres of 28.20 grams gold per tonne; and 2.5 metres of 6.56 grams gold per tonne, including 0.5 metres of 22.90 grams gold per tonne.  Additional holes are to further evaluate/extend the Horseshoe mineralization northward within the fold limb, and to more effectively model the controls on mineralization. These results continue to demonstrate the ongoing potential of this mineralized zone.

 

Two holes, D10-430 and 430B, were drilled in the nose of a fold west of the Runway syncline, 200 metres southwest of the Red Mountain drilling. Drilling appears to have intersected the fringe of a mineralized zone with results of 3.5 metres of 3.49 grams gold per tonne, including 12.5 grams gold per tonne over 0.5 metre.  Given these encouraging early results, geological modeling of this area will better define additional targets.

 

The 2010 Winter Drill Program was intended to trace mineralization northward within the Horseshoe Zone, to extend new zones discovered at Red Mountain by the 2009 Summer Drill Program, and to confirm and expand the high-grade mineralization previously reported for the BIF Island Zone.  Drilling was successful in infilling and extending the stacked mineralized zones identified at Red Mountain, intersecting additional near surface mineralization, and opening up the northern portions of the Red Mountain and Horseshoe Synclines.

 

Additional drilling and exploration work is planned and is contingent upon the incorporation of the present drill results into an expanded geological model to assist in target generation and evaluation.

 

Drill Hole

From (m)

To (m)

 Core Length* (m)

 Au (gpt)

D10-416C

21.50

22.00

0.50

9.44

 

28.00

31.00

3.00

1.63

including

29.50

30.50

1.00

2.59

 

41.00

47.00

6.00

1.70

including

44.00

45.00

1.00

7.18

 

162.00

163.50

1.50

7.27

including

162.00

162.50

0.50

12.25

 

170.50

171.50

1.00

2.39

D10-419

11.50

15.00

3.50

1.84

 

34.50

36.00

1.50

3.25

including

35.00

35.50

0.50

6.60

 

49.00

50.00

1.00

2.00

 

59.00

61.00

2.00

2.65

 

63.00

63.50

0.50

3.85

 

106.50

107.00

0.50

2.39

D10-420

11.00

11.50

0.50

1.59

 

24.50

38.00

13.50

1.42

including 

24.50

26.00

1.50

2.97

including 

29.00

30.00

1.00

3.03

including 

35.00

38.00

3.00

2.70

 

68.00

69.00

1.00

1.35

 

76.50

85.50

9.00

1.81

 

100.00

100.50

0.50

1.47

D10-420B

4.00

5.00

1.00

2.00

 

21.50

41.50

20.00

5.60

including

26.50

29.50

3.00

6.56

including

33.00

41.50

8.50

9.81

including

35.50

37.00

1.50

23.53

including

35.50

36.00

0.50

32.80

including

36.50

37.00

0.50

35.60

including

39.00

41.50

2.50

10.93

including

40.50

41.50

1.00

21.81

including

41.00

41.50

0.50

35.70

D10-421

3.00

17.00

14.00

1.98

including 

14.50

15.00

0.50

12.00

 

37.00

38.50

1.50

2.17

 

43.50

46.50

3.00

3.27

 

64.50

65.00

0.50

4.93

D10-421B

3.00

6.00

3.00

2.93

 

29.50

30.50

1.00

3.58

 

76.00

76.50

0.50

2.03

 

86.00

86.50

0.50

19.45

 

103.00

104.00

1.00

2.35

D10-422

9.50

10.50

1.00

2.03

 

20.50

22.00

1.50

1.94

 

30.50

32.00

1.50

1.82

 

68.50

69.50

1.00

2.22

D10-422B

7.00

8.00

1.00

4.56

 

23.00

25.00

2.00

1.52

 

27.50

29.00

1.50

2.93

 

44.00

46.00

2.00

2.37

 

48.50

50.00

1.50

3.76

 

52.50

53.50

1.00

1.29

 

93.00

94.00

1.00

3.00

D10-427

62.50

66.00

3.50

5.03

including

62.50

63.50

1.00

9.16

 

72.00

73.50

1.50

8.17

including

72.50

73.00

0.50

14.95

 

100.75

104.00

3.25

3.89

including

103.00

104.00

1.00

9.96

 

129.75

131.50

1.75

4.56

 

243.50

245.00

1.50

2.09

D10-427B

76.50

77.50

1.00

14.66

including

77.00

77.50

0.50

28.20

 

114.00

116.00

2.00

4.46

D10-427C

109.00

111.50

2.50

6.56

 

109.50

110.00

0.50

22.90

 

176.50

178.75

2.25

1.84

D10-430 

76.20

77.00

0.80

4.01

 

83.00

84.00

1.00

1.71

D10-430B

74.00

75.00

1.00

4.24

 

124.00

127.50

3.50

3.49

including 

126.00

126.50

0.50

12.50

 

Quality Control

 

Merc International Minerals Inc. has implemented a quality-control program to ensure best practice in the sampling and analysis of the drill core. NQ-size drill core is saw cut and half the drill core is sampled in standard intervals not exceeding 1.5 metres in length while core from the main mineralized horizons or core displaying visible gold or significant sulfides are sampled in greater detail generally not exceeding 1 metre in length. The remaining half core is stored in a secure location.

 

Core samples are transported in security-sealed bags for analyses at ALS Chemex Assay Laboratory, Vancouver, BC. ALS Chemex is an ISO 9001:2000 certified laboratory. Gold assaying is done by a fire assay - atomic absorption spectrometry method on a 30-gram charge of a 1,000 gram pulp. Samples returning values exceeding 3 gpt Au are re-checked by fire assay with a gravimetric finish. Pulp and metallics assaying for gold is conducted on the entire pulverized sample for all samples within the main mineralized horizons and those samples with visible gold or significant sulfides.

 

As part of its QA/QC program, Merc International Minerals Inc. inserts external gold standards (low to high grade) and blanks every 20 samples. This is in addition to the standards, blanks and pulp duplicates inserted by ALS Chemex. In addition, samples of pulps have been collected from ten percent of all samples analyzed and will be submitted to a second independent laboratory for comparison purposes.

 

The Damoti Lake Gold Project is being supervised by William Waychison, M.Sc.A., P.Geo., the Qualified Person (QP) for this project.

 

This news release may contain forward-looking statements based on assumptions and judgments of management regarding future events or results. Such statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements. Merc disclaims any intention or obligation to revise or update such statements.

 

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.

 

For more information, please contact:

 

Merc International Minerals Inc.

Dr. Michael Byron

705-560-2382

705-560-0765 (FAX)

info@mercinternational.ca

 

 

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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