Merc receives Colomac exploration permits
2012年3月5日 - 9:00PM
PR Newswire (Canada)
Drilling to commence in March www.mercinternational.ca TORONTO,
March 5, 2012 /CNW/ - Merc International Minerals Inc. ("Merc") is
pleased to announce it has received all government permits
necessary to begin drilling at its 100% owned Colomac Gold Project
in the Northwest Territories ("NWT"). Highlights: -- Merc now has
Land Use Permit coverage for its entire 234,000 acre (947 square
kilometre) Indin Lake Gold Property; -- Permit is valid for 5 years
and allows for standard surface exploration programs as well as
some advanced activities including drilling and bulk sampling; --
Ice road to Colomac site is currently being constructed and will be
used to expedite fuel, drilling supplies, and equipment from
Yellowknife; and -- Mobilization of drill crews and equipment to
support the winter exploration program is currently underway with
drilling expected to commence in March. Merc received its Land Use
Permit (the "Permit") from the Wek'èezhìi Land and Water Board on
February 29, 2012. In addition to drilling and surface
exploration, the Permit allows Merc to construct an ice road spur
to Colomac, establish fuel storage areas, transport and use heavy
machinery, and build a larger camp to support an expanded summer
drill program. Merc President and CEO, David Wiley, commented,
"With permits in hand ahead of schedule, we are now able to
accelerate the timing of our winter drilling program at the Colomac
Gold Project. We have already begun mobilizing drilling crews and
equipment to the area, and drilling is expected to commence this
month. Our initial focus will be expanding and upgrading our
previously announced NI 43-101 Inferred Mineral Resource estimate
utilizing the two drill rigs already on the property. We expect to
add additional drill rigs for the summer phase of our program at
which time drilling activity will be ramped up further at the
Colomac Gold Project. We also intend to expand this summer's
drilling program to further advance the priority targets identified
from our 2011 exploration season." Merc International Minerals Inc.
Merc is a Canadian-based exploration company focused on acquiring
and developing gold mineral properties in the NWT. Its primary land
position covers 234,013 acres or 947 square kilometres in the Indin
Lake Gold Camp. Located approximately 220 kilometres north of
Yellowknife, NWT Merc's expansive land package includes an NI
43-101 Inferred Mineral Resource estimate of 1.446 million oz Au
with an average grade of 1.05 g/t Au using a block cut-off grade of
0.6 g/t Au at the recently acquired Colomac Gold Project. For
further information on the Colomac Gold Project, refer to Merc's
January 26 and February 21, 2012 news releases. The technical
aspects of this press release have been reviewed by Michael Byron,
Ph.D., P.Geol., Chief Geologist and Director for Merc, who is the
"Qualified Person" as defined by NI 43-101 for this project.
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 news release. Forward-Looking Information This
news release contains "forward-looking information" within the
meaning of applicable Canadian securities legislation.
Forward-looking information includes, but is not limited to,
information with respect to the completion of the Offering, TSX
Venture Exchange acceptance and use of proceeds. Generally,
forward-looking information can be identified by the use of
forward-looking terminology such as "plans", "expects", or "does
not expect", "is expected", "budget", "scheduled", "estimates",
"forecasts", "intends", "anticipates", or "does not anticipate", or
"believes" or variations of such words and phrases or state that
certain actions, events or results "may", "could", "would",
"might", or "will be taken", "occur", or "be achieved".
Forward-looking information is based on the opinions and estimates
of management at the date the information is made, and is based on
a number of assumptions and is subject to known and unknown risks,
uncertainties and other factors that may cause the actual results,
level of activity, performance or achievements of Merc to be
materially different from those expressed or implied by such
forward-looking information, including risks associated with the
exploration, development and mining such as economic factors as
they effect exploration, future commodity prices, changes in
foreign exchange and interest rates, actual results of current
exploration activities, government regulation, political or
economic developments, environmental risks, permitting timelines,
capital expenditures, operating or technical difficulties in
connection with development activities, employee relations, the
speculative nature of gold exploration and development, including
the risks of diminishing quantities of grades of reserves, contests
over title to properties, and changes in project parameters as
plans continue to be refined as well as those risk factors
discussed in Merc's management discussion and analysis for the year
ended July 31, 2011, available on www.sedar.com. Although
Merc has attempted to identify important factors that could cause
actual results to differ materially from those contained in
forward-looking information, there may be other factors that cause
results not to be as anticipated, estimated or intended. There can
be no assurance that such information will prove to be accurate, as
actual results and future events could differ materially from those
anticipated in such information. Accordingly, readers should not
place undue reliance on forward-looking information. Merc does not
undertake to update any forward-looking information, except in
accordance with applicable securities laws. Merc International
Minerals Inc. CONTACT: David Wiley, President and CEO Merc
International Minerals Inc.(647) 260-1247(416) 363-4567 (FAX)Email:
dwiley@mercinternational.caDaniel Boase, Investor RelationsFirst
Canadian Capital Corp.(416) 742-5600 ext 232 Email:
dboase@firstcanadiancapital.com
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