Merc Step-out Drilling Intersects High-grade Gold Mineralization Over Broad Zones At Both the North Inca and Diversified Deposits
September 6, 2011
-Intersects 6.08 g/t Au over 16.90 metres, including 22.07 g/t Au over 3.44 metres-
TORONTO, Sept. 6, 2011 /CNW/ – Merc International Minerals Inc. (“Merc”) (TSX Venture: MRK) announces drill results for ten of the twenty-six holes from its Phase II summer drill program at its Indin Lake Gold Project in the Northwest Territories. Merc continued to encounter gold mineralization by drilling 150 metres to the west of the North Inca Deposit East Zone and stepping-out up to 450 metres south of the Diversified Deposit. Highlights from the drill results on these areas include:
- 6.08 g/t Au over 16.90 metres, including 22.07 g/t Au over 3.44 metres from hole NI11-04;
- 4.20 g/t Au over 16.50 metres, including 15.72 g/t Au over 2.00 metres from hole NI11-04B;
- 16.36 g/t Au over 4.81 metres, including 122.50 g/t Au over 0.50 metres from hole NI11-04C;
- 9.25 g/t Au over 3.73 metres, including 49.60 g/t Au over 0.67 metres from hole NI11-05C; and
- 14.03 g/t Au over 3.20 metres, including 40.90 g/t Au over 0.50 metres from hole DV11-04B
Merc President and CEO, David Wiley, commented, “These drill results move Merc one step closer to being able to define an ore body within a mineralized corridor spanning at least 10 kilometres. We have stepped out a considerable distance from the Phase I collars and intersected new zones containing parallel veins of substantial widths to previously known mineralization. Furthermore, the intersection of mineralization at the historical #3 Deposit advances Merc’s belief that the Diversified and North Inca Deposits are part of the same structure and are connected along strike. In the coming weeks, we will continue to report additional drill assays as they are received while our technical team works to update geological models and interpret the results.”
Merc’s Phase II summer drill program consisted of twenty six drill holes (7,610 metres). Today’s reported assay results are for ten of the twenty-six holes with results pending for the remaining holes. Sixteen 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. Results are also pending for a single hole drilled at Lexindin (237 metres), a historically defined near surface deposit located 1.1 kilometres north of Diversified.
Drilling tested a strike length of approximately 2.4 kilometres along the Leta Arm Fault Corridor covering four historic gold deposits for which new zones were discovered and historical zones extended along strike and to depth (see Figure 1. below). The recent drilling targeted a series of en-echelon quartz veins and mineralized zones. Both the North Inca and Diversified properties lie within the Leta Arm Fault Corridor (previously referred to as the Diversified Corridor), a 500 metre wide deformation zone that locally parallels this main lithological contact. This structure regionally transects the entire Indin Lake Gold Camp, which hosts numerous gold deposits and showings.
|Drill Hole||From (metres)||To (metres)||Core Lenght* (metres)||gt/Au|
|NI11-05B||No significant values|
* Lengths are reported as core lengths. True widths are unknown at this time.
Figure 1 – 2011 Drill Hole Location Map
To view the 2011 Drill Hole Map, please click here: http://files.newswire.ca/926/2011DHmap.pdf
North Inca Deposit
North Inca consists of several parallel north striking silicified zones of variable widths hosted by metavolcanic rocks. Historical (1940’s) development was limited to shallow vertical depths, leaving the deposit open at depth. The en-echelon nature of the vein sets indicates the deposit’s potential to continue along strike. Winter (Phase I) drilling tested the eastern most mineralized zone (East Zone) situated within metasediments. Five holes drilled from three lake setups returned several high-grade intersections with zone widths much wider than previously recognized (see June 15, 2011 news release). Phase II drilling targeted near surface mineralization within metavolcanic rock located 150 metres west (West Zone) of the East Zone. Step out holes were successful in extending known mineralized zones laterally and to depth. The holes confirm the high-grade nature of the mineralization and expand the widths of the mineralized zones. In addition, new zones were intersected and known zones extended to depths in excess of 100 metres. Visible gold was observed in the most northerly step out hole, NI11-10, (assays pending) extending the North Inca mineralized structure over 250 metres northward. North Inca continues to deliver encouraging results while remaining open in all directions. Drilling to date has confirmed its high-grade nature, significant mineralized widths, and the potential to deliver new zones along strike and merge with the #3 and Diversified Deposits.
Sectional drilling targeted two near surface vein systems within the West Zone. NI11-04, NI11-04B, and NI11-04C intersected the intended targets and discovered a third new zone 28 metres further west. NI11-04 intersections for the three zones are 22.07 grams per tonne gold (“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; and 0.96 g/t Au over 16.50 metres, including 3.96 g/t Au over 1.50 metres. NI11-04B (steeper cut) intersected all three zones with the two upper zones appearing to coalesce into a single broad feature running 2.29 g/t Au over 37.00 metres including 15.72 g/t Au over 2.00 metres. The new lower zone returned 5.31g/t Au over 6.44 metres, including 45.10 g/t Au over 0.50 metres. The steepest hole on the section (NI11-04C) intersected one narrower zone of 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.
Sectional holes NI11-05, NI11-05B, and NI11-05C drilled 40 metres south of NI11-04, intersected the projected extension of the mineralized zones. Although all three holes intersected their intended targets, assay results are variable. NI11-05C, the steepest hole, returned positive results of 9.25 g/t Au over 3.73 metres, including 49.60 g/t Au over 0.67 metres. To date, mineralization has been drilled to a vertical depth of 150 metres and remains open to the south beneath Indin Lake. Geological models are currently being updated and resulting interpretations forthcoming.
Initial drilling of the North Inca West Zone has been positive. High-grade gold mineralization was intersected over significant widths (22.07 g/t Au over 3.44 metres, 15.72 g/t Au over 2.00 metres, 16.36 g/t Au over 4.81 metres, and 9.25 g/t Au over 3.73 metres). These results are a clear indication of the potential this property has to host a gold deposit.
The #3 Deposit lies along the Leta Arm Fault Corridor 450 metres south of the Diversified shaft and 800 metres north of the North Inca East Zone. Merc believes the three metasediment-hosted gold deposits are part of the same mineralized structure as they have similar gold grades, mineralized widths, and general morphology, and when viewed in longitudinal section, share the same orientation.
Six sectional holes were drilled at 40 metre centres in Phase II of which two are being reported (results are pending for the remaining four). DV11-04 and DV11-04B tested the downward extension of the #3 deposit, a near surface prospect defined in the 1940’s by overburden trenching and limited diamond drilling to a vertical depth of 50 metres. DV11-04B returned a intersection assaying 14.03 g/t Au over 3.20 metres, including 40.00 g/t Au over 0.50 metres, believed to represent the extension of the #3 Deposit at a vertical depth of approximately 200 metres. To follow-up, two holes were drilled at the end of the current program to test the near surface portion of the deposit. DV11-09 and DV11-09B cut the mineralization at a shallow downhole depth with several grains of visible gold reported in both holes. Assay results are pending but are expected to confirm the continuity of mineralization for over 200 metres in depth. This represents a material advancement and significant expansion of this deposit and reaffirms the huge potential present within the Leta Arm Fault Corridor.
The deposit’s “Main Zone”, which lies within metasedimentary rocks, has been traced for 220 metres based upon historical drilling and underground development. Merc’s Phase I drilling confirmed the high grade nature of the deposit’s mineralization, defined zone widths that significantly exceed those previously reported, and extended high grade mineralization to new depths.
In Phase II two sectional holes were drilled 120 metres south of previous Phase I drilling. The step-out holes successfully intersected the projected mineralized horizons returning moderate assay results. DV11-05B (steeper hole) cut a 1.0 metre section that assayed 4.35 g/t Au at approximately 100 metres vertical depth. All mineralized zones continue to remain open laterally and to depth.
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.
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.
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.