HALIFAX, NOVA SCOTIA--(Marketwire - Oct. 17, 2007) - Gregory Isenor, P.Geo., President and CEO of Merrex Gold Inc. ("Merrex")(TSX VENTURE:MXI) announced today that the phase two diamond core drilling program at Merrex's Siribaya Gold Project in West Mali has commenced.
"Merrex's Siribaya Gold Project is located on the Siribaya Structure, a major gold mineralized structure in West Mali" commented Merrex Gold President and CEO Greg Isenor, P. Geo. "Diamond drilling has resumed at Siribaya with a 3,000 metre program focusing on Zones 1A and 1B to further establish the depth, strike, plunge and continuity of the gold mineralization within those zones." (See map.)
The recently completed 2007 diamond drill program (25 holes totaling 3,666 metres) confirmed that the gold mineralization within the Siribaya Structure was continuous to a depth exceeding 100 metres and indicated a strike length of at least seven kilometres. Zone 1A yielded gold assays as high as 2.69 g/t over 15 m and 2.92 g/t over 34 m while Zone 1B produced gold assays up to 6.14 g/t over 8 m, 4.98 g/t over 14 m and 2.25 g/t over 30 m. A number of the holes remained open at depth. (See news releases of August 1 and September 18, 2007)
The planned 3,000 metre diamond drill program will focus primarily on Zones 1A and 1B of the Siribaya Structure. At Zone 1A the drilling will further test the depth, strike and plunge of the zone and at Zone 1B, in addition to further establishing the depth, strike and plunge, will test the continuity between the northern and southern mineralized areas of Zone 1B which appears to be one continuous gold-bearing zone over 1.2 kilometres long.
Project manager at Siribaya is Jean-Marc Gagnon, P. Eng assisted by Jean-Marc Simard, P. Eng. HQ size drill core samples will be shipped for gold analysis to ALS Chemex ABILAB Laboratory in Bamako. The driller is the African division of Boart Longyear Canada, of North Bay, Ontario. Drilling updates and analytical results will be released as received by Merrex.
Assay summary tables from the summer 2007 diamond drill program are listed at www.merrexgold.com.
Merrex owns a large land position in the prolific West Mali gold producing area. Together with strategic partner Touba Mining, Merrex holds five mineral permits totalling 750 sq km and with a sixth permit in process for a total land position covering over 900 sq km 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 and Loulo mines. The Merrex permits cover highly prospective land with significant geological structures, associated gold anomalous 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, gold in Red Lake, Ontario and nickel in West Voisey's Bay, Labrador, 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.
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Merrex Gold Inc.
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(902) 832-2223 (FAX)