HALIFAX, NOVA SCOTIA--(CCNMatthews - July 16, 2007) - Gregory Isenor, P.Geo., President and CEO of Merrex Gold Inc. ("Merrex")(TSX VENTURE:MXI) announces that Phase I diamond drilling at Merrex's Siribaya Gold Project in West Mali has been completed.
"Phase I of our diamond drill program at Merrex's Siribaya Gold Project is complete" commented Merrex President and CEO Greg Isenor, P. Geo. "We have drill tested selected high-priority targets along the previously established seven kilometre long gold-bearing trend at Siribaya. Assay results are expected within the next six weeks and will be released as soon as they are available. Once Phase I assays are received and the information incorporated into the Phase II drill plan, the next phase of drilling will resume immediately. The drill remains on-site and all necessary preparations have been made to allow drilling to continue without interruption throughout the rainy season."
The Phase I diamond drill program consisted of a total of 3666 metres over 25 angled holes collared at -50 degrees and -55 degrees to a maximum depth of 150 metres. HQ size drill core samples were shipped for gold analysis to ALS Chemex ABILAB Laboratory in Bamako. The driller was the African division of Longyear Canada, of North Bay, Ontario.
A previous 31,000 metre RAB drilling program at Siribaya confirmed a substantial mineralized structure measuring seven kilometres long, up to one kilometre wide, with a confirmed depth extension of at least 30 metres and open to the north, south and at depth.
Merrex owns a large land position in the prolific West Mali gold producing area. Together with strategic partner Touba Mining, Merrex has acquired five mineral permits covering over 750 square kilometres and has an additional permit application in progress which will add an additional 150 square kilometres, all within the West Mali Gold Belt, a region which currently produces in excess of 1.5 million ounces of gold per year from such well-known large gold deposits as the Sadiola, Loulo and Tabakoto mines. The Merrex permits cover highly prospective land with significant geological structures, associated geochemically anomalous gold zones, extensive orpailleur alluvial gold workings and artisinal underground workings. In addition, Merrex is in various stages of negotiations to acquire additional mineral permits in the area which, when completed, would result in a contiguous land position of approximately 1,000 square kilometres, all within the prolific West Mali Gold Belt.
Merrex Gold is a mineral resource exploration company focused on exploration for gold in West Mali, Africa, zinc in Cape Breton, Nova Scotia, nickel in West Voisey's Bay, Labrador, and gold in Red Lake, Ontario, with a solid organization of people and projects to enable continued aggressive exploration, discovery, and growth.
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.
FOR FURTHER INFORMATION PLEASE CONTACT:
Merrex Gold Inc.
President & CEO
Merrex Gold Inc.
Senior Geologist/Investor Relations
(902) 832-2223 (FAX)