Mercer Gold Commences Drilling of Third Hole to 600 Meters Depth at Guayables Gold Project, Colombia
Mercer Gold Corporation ("Mercer Gold" or the "Company") (OTCQB:MRGP, AN4.F Frankfurt) announces that MGDH-03 was commenced on November 6 with a target depth of approximately 600 meters. Additionally, the upper 72.5 meters of drill hole MGDH-01 was re-drilled (MGDH-01a) due to recovery associated with this portion of the hole. Samples from the first two holes are expected to arrive at the laboratory on November 8, 2010, with results expected in 7 to10 days. Samples will be submitted to Acme labs in Medellin, Colombia for preparation and subsequent analysis in Peru.
Drilling is underway at Mercers Guayabales Gold Project near Marmato in Colombia where four distinct geologic and geochemical targets have been identified as meriting drill testing based on geologic mapping and sampling. Drilling is expected to last three and a half months and will precede a larger program planned for 2011. 5000 meters are planned in this program with some holes projected to be up to 700 meters in length.
MGDH03, which is targeting a depth of 600 meters, is going to test the Encanto shear zone approximately 125 meters NW of the first MGDH01/01a/02 holes. The hole also starts approximately 125 meters NE of the zone to test an anomaly indicated by our geochemical soil survey. I think our technical team is doing a great job with the program so far and I look forward to the results, said Rahim Jivraj, CEO and President of Mercer Gold.
About Mercer Gold Corporation
Mercer Gold Corporation is focused on gold exploration and resource definition in Colombia. The Company acquired the prospective Guayabales Project, located in the Marmato Gold District, Department of Caldas, in early 2010. Mercer is exploring the Guayabales property and is seeking to acquire additional prospective gold properties in Colombia.
IMPORTANT CAUTIONARY NOTE REGARDING CANADIAN DISCLOSURE STANDARDS
The Company is an OTC Reporting Issuer under BC Instrument 51-509, Issuers Quoted in the U.S. Over-the-Counter Markets, promulgated by the British Columbia Securities Commission. Accordingly, certain disclosure in this news release or other disclosure provided by the Company has been prepared in accordance with the requirements of securities laws in effect in Canada, which differ from the requirements of United States securities laws. In Canada, an issuer is required to provide technical information with respect to mineralization, including reserves and resources, if any, on its mineral exploration properties in accordance with Canadian requirements, which differ significantly from the requirements of the United States Securities and Exchange Commission (the SEC) applicable to registration statements and reports filed by United States companies pursuant to the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended. As such, information contained in this news release or other disclosure provided by the Company concerning descriptions of mineralization under Canadian standards may not be comparable to similar information made public by United States companies subject to the reporting and disclosure requirements of the SEC.
This news release or other disclosure provided by the Company may use the terms measured mineral resources, indicated mineral resources and inferred mineral resources. While these terms are recognized and required by Canadian regulations (under National Instrument 43-101, Standards of Disclosure for Mineral Projects), the SEC does not recognize them. United States investors are cautioned not to assume that any part or all of the mineral deposits in these categories will ever be converted to reserves. In addition, inferred resources have a great amount of uncertainty as to their existence and economic and legal feasibility. It cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category. Under Canadian securities legislation, estimates of inferred mineral resources may not form the basis of feasibility or pre-feasibility studies, or economic studies, except in rare cases. U.S. investors are cautioned not to assume that part or all of an inferred resource exists, or is economically or legally mineable.
For further information see: www.mercergoldcorp.com
Symbol: OTCBB MRGP; Frankfurt AN4, WKN NO. A0MUN4.
|Contact:||Rob Grace, Investor Relations|
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