Merc Staking Program Expands NWT Land Package by 241%
Published : April 26, 2011
( 0 vote, 0/5 ) Print article
  Article Comments Comment this article Rating Follow Company  
0
Send
0
comment
Keywords :   Canada | Gold | Gold Mine | Gold Mines | Iron | Volatility |

TORONTO, April 26 /CNW/ - Merc International Minerals Inc. (TSXV: MRK) ("Merc")  announced today that it has successfully staked an additional 79 mining claims (148,318 acres or 60,022 hectares), achieving another significant milestone in its consolidation of the prolific Indin Lake Gold Camp located in the Northwest Territories.  Merc now controls the majority of the prospective Indin Lake Greenstone belt in this historic gold camp with a total ground position now comprising 209,763 acres or 84,888 hectares.  The newly staked ground consists of several new gold prospects incremental to Merc's previously reported acquisitions (see news releases January 10, 2011 and January 20, 2011), some of which lie contiguous to the former producing Colomac Gold Mine and host similar geological and deposit characteristics.  Merc's land position now includes the Diversified, North Inca, Lexindin, Treasure Island, Damoti Lake, Echo Indin, and Fishhook gold deposits as well as ten additional historic gold showings.  Merc is actively drilling the Diversified, North Inca, Lexindin and Treasure Island deposits, and as part of the on-going approximately 7,000 metre drill program, will expand activities to explore its additional deposits in the near future.

The newly staked ground has significantly expanded Merc's gold exploration targets within an area that lies along the West Bay - Indin Lake Fault Zone, a regional structure that extends over 200 km from the shores of Great Slave Lake to areas north of the Indin Lake Belt.  This fault zone contains both the Giant and Con gold mines (approximately 13 million ounces of production) to the south and the Colomac Gold Mine (approximately 500,000 ounces production) within its northern extent.  Merc believes this structure has played a major role in the development and localization of Indin Lake gold mineralization;  much the same role as that of other large regional fault zones, such as the Destor-Porcupine Fault's influence on gold deposit formation within the Timmins Gold Camp. The Indin Lake Greenstone belt remains one of the few under-explored historic gold camps in Canada.

To view a map of the Indin Lake property, please go to http://files.newswire.ca/926/merc_0426.pdf

Property Highlights

Fishhook Property

The Fishook property is located 11 kilometres southwest of the Damoti Lake gold deposit. The geological setting is similar to that of the Damoti Lake deposit consisting of folded, sulphidized, banded iron formation within a sedimentary stratigraphy.  Gold is reported from twelve separate occurrences within the area, of which a number have been previously drilled.  The majority of the holes were laid out to test shallow (less than 100 meters) mineralization.  Drill intersection highlights include: 13.6 metres of 6.70 grams gold per tonne, 13.9 metres of 5.02 grams gold per tonne, 6.3 metres of 8.07 grams gold per tonne, 3.0 metres of 13.93 grams gold per tonne, and 1.6 metres of 19.78 grams gold per tonne.  Merc is planning a surface mapping and prospecting program this summer and drilling will be contingent upon the results of that work.

Andy Lake Property

The property is located northwest of Damoti Lake and just east of Indin Lake. Historic work was limited to surface sampling of quartz stockwork veins in shear zones between volcanic rocks and granite intrusions where assays up 8.05 grams gold per tonne were reported. No drilling has been conducted in this area.  Merc intends to prospect the showing as part of this summer's field program.

West Cass Property

Located at the west end of Indin Lake, the West Cass property lies within the mafic volcanic - sedimentary rock contact zone, a setting similar to the Diversified, North Inca, Lexindin, and Kim gold deposits. Historic surface sampling of quartz veins returned assays up to 5.96 grams gold per tonne, and surface grab samples up to 52.8 grams gold per tonne. Three short holes were previously drilled to test the vein structure with assays as high as 7.80 grams gold per tonne reported. Additional work is planned by Merc in 2011 prior to drilling.

Knob Lake Property

The Knob Lake property is located 5.0 kilometres northeast of the Diversified Mine within a prominent shear zone cutting sedimentary rocks; a setting similar to that described for the Diversified and North Inca gold deposits.  Historic sampling was limited to surface grab and channel samples taken from shear hosted quartz carbonate stockwork veins that returned values up to 8.35 grams gold per tonne.  Drilling will be contingent upon the results of the 2011 summer work program.

About Merc International Minerals Inc.

Merc is a Canadian-based exploration company focused on acquiring and developing gold mineral properties in the Northwest Territories. 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, 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.

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.

For further information:

David Wiley, President and CEO
Merc International Minerals Inc.
(647) 260-1247
(416) 363-4567 (FAX)
Email: dwiley@mercinternational.ca

Mehdi Azodi, Vice President Investor Relations 
Merc International Minerals Inc.
(416) 779-3268
(416) 363-4567 (FAX)
Email: mazodi@mercinternational.ca

Data and Statistics for these countries : Canada | All
Gold and Silver Prices for these countries : Canada | All

Merc International Minerals Inc.

EXPLORATION STAGE
CODE : MRK.V
ISIN : CA58733X1096
Follow and Invest
Add to watch list Add to your portfolio Add or edit a note
Add Alert Add to Watchlists Add to Portfolio Add Note
ProfileMarket
Indicators
VALUE :
Projects & res.
Press
releases
Annual
report
RISK :
Asset profile
Contact Cpy

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.

Your feedback is appreciated, please leave a comment or rate this article.
Rate : Average note :0 (0 vote) View Top rated
 
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...
Comments closed
 
Latest comment posted for this article
Be the first to comment
Add your comment
TSX-V (MRK.V)
0.100+11.11%
TSX-V
CA$ 0.100
05/29 15:06 0.010
11.11%
Prev close Open
0.090 0.100
Low High
0.100 0.100
Year l/h YTD var.
 -  -
52 week l/h 52 week var.
- -  0.100 -%
Volume 1 month var.
48,000 -%
24hGold TrendPower© : -26
Produces
Develops
Explores for Gold
 
 
 
Analyse
Interactive chart Add to compare
Interactive
chart
Print Compare Export
Last updated on : 7/16/2010
You must be logged in to use the porfolio and watchlists (free)
Top Newsreleases
MOST READ
Annual variation
DateVariationHighLow
 
5 years chart
 
3 months chart
 
3 months volume chart
 
 
Mining Company News
Plymouth Minerals LTDPLH.AX
Plymouth Minerals Intersects Further High Grade Potash in Drilling at Banio Potash Project - Plannin
AU$ 0.12-8.00%Trend Power :
Santos(Ngas-Oil)STO.AX
announces expected non-cash impairment
AU$ 7.58+2.71%Trend Power :
Oceana Gold(Au)OGC.AX
RELEASES NEW TECHNICAL REPORT FOR THE HAILE GOLD MINE
AU$ 2.83-4.07%Trend Power :
Western Areas NL(Au-Ni-Pl)WSA.AX
Advance Notice - Full Year Results Conference Call
AU$ 3.86+0.00%Trend Power :
Canadian Zinc(Ag-Au-Cu)CZN.TO
Reports Financial Results for Q2 and Provides Project Updates
CA$ 0.12+4.55%Trend Power :
Stornoway Diamond(Gems-Au-Ur)SWY.TO
Second Quarter Results
CA$ 0.02+100.00%Trend Power :
McEwen Mining(Cu-Le-Zn)MUX
TO ACQUIRE BLACK FOX FROM PRIMERO=C2=A0
US$ 0.47-7.33%Trend Power :
Rentech(Coal-Ngas)RTK
Rentech Announces Results for Second Quarter 2017
US$ 0.20-12.28%Trend Power :
KEFIKEFI.L
Reduced Funding Requirement
GBX 0.53-10.32%Trend Power :
Lupaka Gold Corp.LPK.V
Lupaka Gold Receives First Tranche Under Amended Invicta Financing Agreement
CA$ 0.02+0.00%Trend Power :
Imperial(Ag-Au-Cu)III.TO
Closes Bridge Loan Financing
CA$ 3.00+0.00%Trend Power :
Guyana Goldfields(Cu-Zn-Pa)GUY.TO
Reports Second Quarter 2017 Results and Maintains Production Guidance
CA$ 1.84+0.00%Trend Power :
Lundin Mining(Ag-Au-Cu)LUN.TO
d Share Capital and Voting Rights for Lundin Mining
CA$ 8.71-1.02%Trend Power :
Canarc Res.(Au)CCM.TO
Canarc Reports High Grade Gold in Surface Rock Samples at Fondaway Canyon, Nevada
CA$ 0.30+7.14%Trend Power :
Havilah(Cu-Le-Zn)HAV.AX
Q A April 2017 Quarterly Report
AU$ 0.25+4.17%Trend Power :
Uranium Res.(Ur)URRE
Commences Lithium Exploration Drilling at the Columbus Basin Project
US$ 6.80-2.86%Trend Power :
Platinum Group Metals(Au-Cu-Gems)PTM.TO
Platinum Group Metals Ltd. Operational and Strategic Process ...
CA$ 1.79-6.28%Trend Power :
Devon Energy(Ngas-Oil)DVN
Announces $340 Million of Non-Core Asset Sales
US$ 59.37+2.73%Trend Power :
Precision Drilling(Oil)PD-UN.TO
Announces 2017Second Quarter Financial Results
CA$ 8.66-0.35%Trend Power :
Terramin(Ag-Au-Cu)TZN.AX
2nd Quarter Report
AU$ 0.03+0.00%Trend Power :