Jul 23, 2013
Merrex Gold Siribaya Drilling Update
HALIFAX, NOVA SCOTIA -- (July 23, 2013) - Greg Isenor, President and CEO of Merrex Gold Inc. ("Merrex") (TSX Venture: MXI) announces:
2013 Drilling Update
IAMGOLD Corporation, Siribaya Gold project operator, reports that to the end of June, 2013 there were 5050 meters of air core drilling completed on the Kona anomaly and 273 metres of mechanized auger drilling completed on the Diakha anomaly. These anomalies are located western portion of the Siribaya property. Assays are pending.
See attached map.
Drilling at Siribaya has been suspended due to the season rains and the rising Falame River.
The private placement announced May 22, 2013 will not proceed at this time due to market conditions. Financing activity will resume once all drill results from the current exploration program have been received and released.
About the 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 $35 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 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 [email protected].
On Behalf of the Board
Gregory Isenor, P.Geo.
President & CEO
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.
You can view the Next News Releases item: Wed Jul 24, 2013, Merrex Gold Share Placement to IAMGOLD Corporation
You can view the Previous News Releases item: Fri Jul 19, 2013, Merrex Gold Share Placement to IAMGOLD
You can return to the main News Releases page, or press the Back button on your browser.