Merrex Expands Zinc Exploration
Wed Aug 22, 9:30 AM
ca.news.finance.yahoo.com
HALIFAX, NOVA SCOTIA--(Marketwire - Aug. 22, 2007) - Gregory Isenor, P.Geo., President and CEO of Merrex Gold Inc. ("Merrex")(TSX VENTURE: MXI.V) announces that Merrex is expanding its search for zinc in Cape Breton, Nova Scotia, and an exploration program of prospecting, geological mapping, sampling, geochemical surveying and diamond drilling is presently underway over several new target areas indicating Jubilee type zinc-lead mineralization within the Carboniferous rocks of Cape Breton.
"We believe that our Jubilee Project will be one of several zinc discoveries to be made in Cape Breton" commented Merrex President and CEO Greg Isenor, P. Geo. "Therefore, Merrex has accumulated substantial additional claim-holdings over selected areas prospective for zinc-lead mineralization and exploration is actively underway on our new claim groups in Cape Breton."
That considerable potential exists for zinc-lead deposits within the Carboniferous rocks of Nova Scotia is well-evidenced by such deposits as Walton, Jubilee and Gays River. Data compilation and analysis together with prospecting have identified four areas with geology similar to Jubilee and Merrex has assembled a land package of over 200 claims covering those four regions. They are designated individually as Middle River, Baddeck Forks, River Denys and West Bay and collectively as the Cape Breton Regional Zinc Project. (see map) ccnmatthews.com
Initial prospecting, geological mapping, sampling and geochemical surveying have been undertaken and prospective drill targets identified in several areas. Diamond drilling is underway at the Middle River property now and diamond drilling of additional selected targets on other areas will follow.
The exploration of Merrex's new Cape Breton Regional Zinc Project is fully funded from 'flow through' cash-on-hand from previous financings and is in addition to the aggressive diamond drilling of Merrex's Jubilee zinc-lead deposit.
Merrex Gold is a mineral resource exploration company focused on exploration for gold in West Mali, Africa, zinc in Cape Breton, Nova Scotia, nickel in West Voisey's Bay, Labrador, and gold in Red Lake, Ontario, 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.
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ACCURACY OF THIS RELEASE.
Contacts
Greg Isenor
Merrex Gold Inc.
President & CEO
(902) 832-5555
John Cumming
Merrex Gold Inc.
Executive Vice-President
(604) 618-4262
(604) 688-3348 (FAX)
Email: info@merrexgold.com
Website: www.merrexgold.com |
