Merrex Gold - Drilling Operations Update for Siribaya Gold Project, West Mali
April 10 2014 - 10:58AM
Access Wire
HALIFAX, NOVA SCOTIA / ACCESSWIRE / April 10, 2014 / Greg
Isenor, President and CEO of Merrex Gold Inc., ("Merrex") (TSX
Venture: MXI) announces:
Drilling Operations Update for Siribaya Gold Project,
West Mali
Drilling at the Diakha prospect finished April 1, 2014.
Fifty-four Reverse Circulation ("RC") holes (including 2 abandoned
holes) totalling 5,211 metres were completed. Drill samples have
been submitted for assay. Once assay results have been returned to
project operator IAMGOLD Corporation, validated, compiled and
provided to Merrex those assays will be released as soon as
possible.
Project driller Amco Drilling (UK) Limited has moved the drill
rig to the Babara target area (see map) to begin Air Core ("AC")
drilling of prioritized geochemical targets. The drill will move
progressively westward towards the Siribaya area to test other
targets including Fandou, Liberta and Guia to finish near the
Siribaya camp before the beginning of the seasonal rains.
About the 2014 Exploration Program
The 2014 exploration plan includes 30,250 metres of RC and AC
drilling budgeted at US$1.75 million and is designed to test
priority targets identified by geochemical termite sampling.
Greater emphasis will be placed on targets occurring within the
western permits (Kambaya and Siribaya West), while those located
further east will be further refined and prioritized (Kofia to
Diarindi).
IAMGOLD is funding the US$1.75 million 2014 program and has
agreed to extend the payment deadline for all joint venture
exploration contributions to December 31, 2014 providing Merrex
with additional time to finance.
About Merrex's Siribaya Gold Project
The Siribaya Gold Project is a 50/50 joint Merrex-IAMGOLD
advanced-stage gold exploration project in West Mali comprised of
approximately 910 square kilometres of gold-prolific exploration
permits and permit applications pending. Exploration of the
Siribaya Gold Project is conducted under a joint management
committee. Expenditures to date on the Siribaya Project total
approximately $37 million.
The Siribaya Gold Project presently hosts a NI 43-101 compliant
gold resource estimated at 303,900 ounces grading 2.34 g/t
Indicated, and 301,400 ounces grading 2.17 g/t Inferred (July 31,
2012 ACA Howe International Limited); the deposit areas are open to
the north, south and at depth. Numerous other gold-anomalous target
areas have been identified by geochemistry and require
drilling.
Gregory P. Isenor, P. Geo., is the Qualified Person as defined
under NI 43-101 who has reviewed and is responsible for the
technical information presented in this news release.
Merrex is primarily a West African focused gold exploration
company with experienced management, a solid exploration team, a
prominent gold-producer as a JV partner and an expanding gold
resource.
For further details about the Company's exploration activities
or to view the most recent corporate presentation visit Merrex's
website at www.merrexgold.com. To be added to Merrex's email
contact list please email your request to info@merrexgold.com.
On Behalf of the Board
Gregory Isenor, P.Geo.
President & CEO
Merrex Gold Inc.
Suite 802, 1550
Bedford Highway, Bedford, NS B4A 1E6
Tel.: (902) 832-5555 Fax: (902) 832-2223
This press release includes certain statements that may
be deemed "forward-looking statements". All statements in this
release, other than statements of historical facts, that address
future exploration drilling, exploration activities and events or
developments that the Company expects, are forward-looking
statements. Although the Company believes the expectations
expressed in such forward-looking statements are based on
reasonable assumptions, such statements are not guarantees of
future performance and actual results or developments may differ
materially from those in forward-looking statements. Factors that
could cause actual results to differ materially from those in
forward-looking statements include market prices, exploitation and
exploration successes, continued availability of capital and
financing, and general economic, market or business
conditions.
Neither the 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.
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SOURCE: Merrex Gold Inc.
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