Sep 21, 2011
Merrex Siribaya Gold Project: IAMGold comments on Siribaya in a recent News Release
In a news release dated September 19, 2011, IAMGold provided the following update on the Siribaya Gold Project:
"Siribaya Project, Mali
The Siribaya gold project in Mali is held under a previously described option to joint venture with Merrex Gold Inc. ("Merrex"). Drilling in 2011 has focused on the Siribaya trend, a structural corridor that extends for approximately eight kilometres within the Siribaya project concession block. The Siribaya resources occur on the western and eastern flanks of the structural corridor, and the 2011 program was designed to better determine the extent of known gold mineralization systems and develop additional target areas.
The planned 30,000 metre reverse circulation drilling program is being carried out on 400 to 500 metre spaced fences, followed by in-fill lines to off-set significant results. Although exploration activity was suspended in July 2011 with the on-set of seasonal rains, more than 21,500 metres of reverse circulation drilling and 6,500 metres of diamond drilling have been completed.
Reverse circulation drill coverage of known mineralized trends has been extended one kilometre north and almost three kilometres south of the Zone 1B resource area (Western Trend), and up to three kilometres north of the small Zone 1A resource (Eastern Trend). A 10,000 metre diamond drill program was initiated in April 2011 to extend the Siribaya Zone 1B resource to the north and south, and off-set significant gold mineralized intercepts elsewhere within the Siribaya structural corridor. Significant drill results have been recently encountered starting about one kilometre north of the Siribaya Zone 1A resource, and extending northward for one kilometre over three fences of holes. Peak assays are highlighted by:
Further details of recent drill results, including holes highlighted above, can be found in press releases provided by Merrex, and dated September 8, 2011 and September 13, 2011.
Two kilometres west of the Siribaya structural corridor, anomalous termite mound geochemistry in conjunction with mechanized auger drilling to depths of up to 20 metres has extended the Bambadinka trend for at least eight kilometres in a north-south direction. Nine reverse circulation drill holes in two fences were completed over short segments of the zone in Q2 2011, but assays are pending. The Bambadinka trend will be a priority exploration target for future testing, as will a number of new gold anomalous trends revealed by regional termite mound sampling programs elsewhere on the Siribaya concessions."
To view the full news release please go to www.iamgold.com
Merrex's Siribaya Gold Project
The Siribaya Gold Project is a Merrex-IAMGOLD Corporation joint project with IAMGOLD Corporation earning-in for 50% of the project. The Siribaya Gold Project comprises 848 square kilometres of contiguous exploration permits in West Mali including the Siribaya mega-structure. The Siribaya mega-structure has a CIM compliant NI 43-101 resource estimate of 4,015,000 tonnes grading 2.39 g/t Indicated (308,200 oz Au) and 946,000 tonnes grading 2.29 g/t Inferred (69,500 oz Au), and is open to the north, south and at depth.
For further details about the Siribaya Gold Project visit Merrex's website at www.merrexgold.com.
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.
Merrex Gold Inc.
1550 Bedford Highway
Suite 802, Sun Tower
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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