Merc Step-out Drilling Extends Mineralization At Indin Lake Nwt Including Intercept of 65.35 G/t Au Over 3.0 Metres and 1.14 G/t Au Over 33.77 Metres
November 21, 2011
TORONTO, Nov. 21, 2011 /CNW/ – Merc International Minerals Inc. (“Merc“) (TSX Venture: MRK) is pleased to announce that step-out drilling at its Indin Lake Gold Project in the Northwest Territories (“NWT“) intersected two near surface high-grade gold zones at the # 3 deposit 400 metres south of the Diversified Mine, and extended gold mineralization 250 metres north of the North Inca deposit. Drill results reported today from the final sixteen holes from Merc’s 2011 Phase II drill program include 65.35 grams per tonne gold (“g/t Au“) over 3.0 metres and 1.14 g/t over 33.77 metres.
David Wiley, Merc President and CEO, commented, “Step-out drilling continues to extend the strike length of our priority targets, which remain open in all directions. Importantly, the Phase II drill program has identified multiple gold zones not previously encountered through our multi-phase drilling program. Drill core assays recorded some of the highest grades we’ve reported to date coupled with attractive intersection lengths, one being 1.14 g/t Au over 33.77 metres, at our Indin Lake Gold Project. The results also validate our belief that high-grade mineralization exists between the Diversified and North Inca deposits and that those two deposits are actually part of the same structure. We fully expect the upcoming 2012 drill program will extend the areas of known mineralization even further, which will then enable Merc to be in a position to calculate a maiden resource. Drilling to date has been focused on the Leta Arm Corridor, which hosts several historic deposits and two historic gold mines. In February 2012 Merc will continue to test and expand this area, which has yielded tremendous success to date. Our drill program is focused on testing the Leta Arm Fault Zone, a broad structure with a strike length in excess of 10 kilometres. Within our 210,000 acre land package we have numerous other highly prospective and untested drill targets in the pipeline that are outside of our current area of focus.”
The just completed Phase II drill program was designed to extend known areas of mineralization and to identify new gold zones along the sedimentary-volcanic rock contact between the Diversified and North Inca shafts. Merc continues to intersect gold mineralization within and beyond this 1.2 kilometre section of the Leta Arm Corridor, providing further evidence that the deposits may be part of a coherent gold system.
Highlights from the drill results on these areas include:
- 65.35 g/t Au over 3.0 metres and 5.20 g/t Au over 12.90 metres, including 22.12 g/t Au over 2.85 metres from hole DV11-09;
- 1.14 g/t Au over 33.77 metres and 8.84 g/t Au over 5.50 metres, including 18.2 g/t Au over 2.44 metres from hole NI11-06;
- 2.00 g/t Au over 12.00 metres, including 3.90 g/t Au over 5.20 metres from hole NI11-07B;
- Step-out drilling intersects two near surface high-grade gold zones at #3 deposit, 400 metres south of Diversified; and
- Step-out drilling at North Inca extends gold mineralization 250 metres north
Merc’s 2011 Phase II drill program consisted of twenty-six drill holes (7,610 metres). Today’s reported assay results are for the final sixteen holes. Sixteen of the twenty-six holes were drilled at North Inca (4,898 metres) with eight containing intersections of visible gold, while three of the nine holes completed at Diversified (2,475 metres) contained visible gold. A single hole was drilled at Lexindin (237 metres), a historically defined near surface deposit located 1.1 kilometres north of Diversified.
Table 1. 2011 Phase II Drill Results – Leta Arm Corridor
|Drill Hole||From (m)||To (m)||Lenght (m)||g/t Au|
|DV11-08||no significant results|
|NI11-06B||no significant results|
|NI11-08||no significant results|
|NI11-09B||no significant results|
* Lengths are reported as core lengths. True widths are unknown at this time.
# 3 Deposit
Located along the Leta Arm Corridor 450 metres south of the Diversified deposit, the #3 deposit forms part of a strongly mineralized structure extending north from North Inca East Zone. These three metasediment-hosted gold deposits are part of the same mineralized package, as they show similar grade, mineralized widths, general morphology, and orientation.
A total of six holes tested the #3 deposit laterally and to depth. Merc is pleased to report that DV11-09 and DV11-09B, designed to intersect the upward extension of this deposit, have intersected considerably higher grades and greater widths than the previous holes reported in the area. These holes confirm that the mineralization extends in excess of 200 metres. The intersection of two near surface high-grade zones are reported and are highlighted by hole DV11-09 which intersected 3.0 metres of 65.35 g/t Au (starting at 45.50 metres), including 1.0 metre of 193.75 g/t Au. A second zone begins at 65.80 metres and includes 5.2 metres of 12.90 g/t Au with 2.85 metres returning 22.12 g/t Au. Two additional geochemically anomalous gold zones occur further downhole and may be more distal appendages of the two main zones, or may indicate additional zones at depth below the hole. Hole DV11-09B, drilled on the same section, but at a steeper angle, intersected four distinct intervals of quartz veining with associated sulphides including one interval reporting visible gold. Interval results range up to 2.92 g/t Au. DV11-06 and DV11-07 were collared 40 metres either side of DV11-04 to test the mineralization at depth. Although the structure was intersected, and anomalous values were reported in both holes, it appears that DV11-06 may have drilled above the plunging mineralization with much of the zone offset by faulting and a diabase dike that occurs 5 to 7 metres downhole. DV11-07 appears to have been displaced by a diabase dike that occurs near the zone. DV11-08 was drilled west of DV11-04 to test the stratigraphy west of the #3 deposit and reported no significant results.
Results for two previous holes in the #3 deposit were reported in a release dated September 6th 2011, in which DV11-04 and DV11-04B, drilled from the west, tested the downward extension of the deposit. DV11-04B, highlighted by 14.03 g/t Au over 3.20 metres, including 40.90 g/t Au over 0.50 metres at a down hole depth of 266 metres, further illustrates the vast opportunities Leta Arm Corridor presents in terms of new discoveries of high-grade, multi-metre wide mineralized zones that are open to depth.
North Inca Deposit
North Inca consists of several parallel north striking silicified zones within metavolcanic and metasedimentary rocks. The en-echelon nature of the veins indicates their potential to continue along strike and repeat to depth. The 2011 Phase I drill program tested the East Zone located within metasediments (see June 15, 2011 news release), whereas the summer program targeted West Zone mineralization within metavolcanic rocks 150 metres west of the East Zone.
Results are reported for ten recently drilled holes intended to intersect the northern extension of the North Inca West Zone. NI11-06 and NI11-06B were drilled on a section 40 metres north of the NI11-04 collar. NI11-06 successfully intersected the projected zones intersected in the NI11-04 series holes, returning 5.82 g/t Au over 2.50 metres, and 8.84 g/t Au over 5.50 metres including 18.20 g/t Au over 2.44 metres. NI11-06B, the steeper sectional hole at a 70 degree dip, lacks signs of significant alteration and appears to have undershot the mineralization or the mineralization was displaced by a fault.
Previously reported holes NI11-04, NI11-04B, and NI11-04C (see September 06, 2011 news release), collared at North Inca West, successfully intersected two high-grade veins and discovered a third. Intersection highlights include: 22.07 g/t Au over 3.44 metres, including 103.50 g/t Au over 0.50 metres; 3.97 g/t Au over 6.50 metres, including 31.70 g/t Au over 0.5 metres; 15.72 g/t Au over 2.00 metres; 5.31 g/t Au over 6.44 metres, including 45.10 g/t Au over 0.50 metres; 16.36 g/t Au over 4.81 metres, including 122.50 g/t Au over 0.50 metres and 26.90 g/t Au over 0.50 metres.
NI11-07 and NI11-07B were collared 30 metres north of NI11-06. NI11-07B cut four mineralized zones: a broad zone of lower grade material at a downhole depth of 90.50 metres; a second zone at 182.80 meters that assayed 3.90 g/t Au over 5.20 metres including 8.96 g/t Au over 0.60 metres; third zone at 214.35 metres that returned 4.56 g/t Au over 3.0 metres; and a lower zone at 226.60 metres that returned 3.20 g/t Au over 1.40 metres. NI11-07, the shallower of the two holes, appears to have overshot the plunging mineralization. NI11-08 and NI11-09 series sectional holes were spaced 50 metres apart to the north and tested 100 metres of strike potential. These holes failed to intersect significant mineralization within the main structure, but the steeper holes did return a few narrow geochemical anomalous sections, suggesting that the mineralization within this area may lie at depth due to the plunge geometry.
NI11-10 and NI11-10B, the most northerly step out holes, situated approximately 100 metres north of the NI11-09 setup, extended the North Inca mineralized structure over 250 metres to the north confirming the potential to deliver new zones along strike and down plunge. These holes were drilled to undercut a surface showing that returned assays of 35.40 g/t Au and 27.50 g/t Au (see September 12, 2011 news release). NI11-10 intersected the projected plunge of the mineralization and returned 13.75 g/t Au over 0.60 m. NI11-10B, the steeper hole on this section, intersected more moderate mineralization, but appears to have undershot the plunge.
Geological modeling of the results to date is ongoing. It is expected that a reinterpretation of the mineralization will show substantial deviations from the relatively linear East Zone Vein model. This work will form the basis of future target generation along the North Inca West trend.
A single hole, LX11-01, was drilled to test shallow mineralization historically reported for the Lexindin Zone. The hole intersected moderate mineralization at 141.25 metres downhole depth that assayed 2.56 g/t Au over 0.75 metres. The Lexindin deposit is 1.3 kilometres north of the Diversified mine and consists of tensional, en-echelon, quartz veins lying obliquely to branches of the main shear zone. Veins dip steeply north within the 40 metre to 60 metre wide shear zone and open-up laterally with increased depth. Historical winter lake drill setups were limited to less than 150 metres vertical depth reporting intersections of 113.80 g/t Au over 3.05 metres, 18.85 g/t Au over 1.53 metres, and 22.97 g/t Au over 2.37 metres. Additional drilling is required to fully assess the opportunities present at Lexindin and to determine if mineralization can be traced north and south towards the Diversified 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.
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.
PDF with caption: “Figure 1 – 2011 Drill Hole Location Map”. PDF available at:http://stream1.newswire.ca/media/2011/11/21/20111121_C7690_DOC_EN_6988.pdf