May 4, 2011 (Marketwire Canada) --
HALIFAX, NOVA SCOTIA -- Gregory Isenor, P.Geo., President and CEO of Merrex Gold Inc. ("Merrex") (TSX VENTURE:MXI) is pleased to provide the following update on exploration at Zone Bambadinka at the Siribaya Gold Project in West Mali.
Zone Bambadinka is a gold-anomalous trend located two kilometres west of the Siribaya mega-structure extending approximately 10 kilometres on a north-south strike and approximately one kilometre east-west. Originally identified as a massive geochemical anomaly with 25 soil samples assaying over one gram per tonne, Zone Bambadinka is now being tested with mechanized auger drilling. The east-west lines are of variable length but generally are approximately one kilometre long with 20 metre hole spacing and to varying depths but approximately 10-12 metres. The northern fences in the area of the strongest geochemical response are spaced at 200 metre step-outs and the southern fences at 400 metre step-outs. To date approximately 9,781 metres of auger holes have been drilled.
The selection of shallow mechanized auger drilling was to penetrate the 5 to 10 metre laterite cover and sample the first 3 to 5 metres of Saprolite bedrock below. Auger drilling has now covered approximately eight kilometres of the ten kilometre north-south strike of Zone Bambadinka with significant gold mineralized intersections in the near-surface Saprolite bedrock at various locations along the trend. Assays as high as 2.56 g/t over 5 m; 3.01g/t over 3 m and 2.72 over 1.5 m have been received. (See attached map for more details): http://media3.marketwire.com/docs/Merrex_Gold_Inc._map.pdf.
The Zone Bambadinka trend is considered a priority satellite exploration target and will be the subject of future drill programs.
About the Siribaya Gold Project
The 848 km2 Siribaya Gold Project in West Mali is Merrex's flagship property. The Siribaya Gold Project is being explored in conjunction with Merrex's 50% earn-in partner and project operator IAMGOLD Corporation. The 2011 exploration program within the Siribaya mega-structure includes 17,000 metres of RC drilling to further extend the explored strike length of the Siribaya trends from three to six kilometres, and 10,000 metres of diamond drilling to increase the present NI 43-101 resource.
Outside of the Siribaya structures new mineralized trends have been discovered; Siribaya West which lies to the west of the Bambadinka trend, and the Babara-Kofia trends which lie to the east of Siribaya on the Babara and Kofia permits. These trends will be further tested during the 2011 field season.
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 a Mali focused gold exploration company with experienced management, a solid exploration team, a prominent gold-producer as a partner and an expanding gold resource … a winning combination offering investors an extraordinary opportunity.
Please visit our website at www.merrexgold.com for the most recent corporate presentation.
On Behalf of the Board
Gregory Isenor, P.Geo., President & CEO
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.
Merrex Gold Inc.
President & CEO
(902) 832-2223 (FAX)