Merrex Provides Exploration Update on 100% Owned Kakadian Permit, West Mali
HALIFAX, NOVA SCOTIA -- (Marketwire) -- 06/12/12 -- Gregory Isenor, P.Geo., President and CEO of Merrex Gold Inc. ("Merrex") (TSX VENTURE: MXI) is pleased to provide the following exploration update on the Kakadian Gold Project in West Mali.
Commentary
Merrex initiated a Phase I exploration program on its 100% owned Kakadian permit in 2011 (See news release dated April 6, 2011.) The Phase I program included 35 exploration pits to follow up on gold anomalies identified in 2006 as well as detailed soil geochemistry and termite mound sampling covering areas of the property that were previously not sampled.
Assays from the 2011 exploration pits returned low gold values and provided increased knowledge of the geology of that sector of the permit. The termite mound and soil geochemistry surveys delineated gold anomalous zones in the South East portion of the permit area. Currently, a 50 pit exploration program is underway to follow up on these anomalies and a termite mound survey is planned to cover other previously unsampled areas of the permit. The budget for the 2012 exploration program is estimated at approximately C$248,000.
About the Kakadian Gold Project
Unrelated to the Merrex-IAMGOLD joint venture at Siribaya, Merrex holds a 100% interest (subject to vendor retained 3% NPI) in the 55 square kilometre Kakadian gold permit located in the northern portion of West Mali approximately 10 kilometres west of the Sadiola gold mine.
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 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.
On Behalf of the Board
Gregory Isenor, P.Geo., President & CEO
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.
Contacts:
Merrex Gold Inc.
Gregory Isenor, P.Geo.
President & CEO
(902) 832-5555
(902) 832-2223 (FAX)
info@merrexgold.com
www.merrexgold.com
