Merrex Gold Inc.

Merrex Gold Inc.

November 19, 2009 15:03 ET

Merrex Airborne Survey Confirms Strike Extension of Siribaya Zone 1B

HALIFAX, NOVA SCOTIA--(Marketwire - Nov. 19, 2009) - Gregory Isenor, P.Geo., President and CEO of Merrex Gold Inc. ("Merrex")(TSX VENTURE:MXI) announces that the 2009 high resolution airborne magnetic/radiometric spectrometer survey confirms the extension of the sub-structure hosting the Zone 1B mineralization to over ten kilometres strike length. 

Zone 1B Sub-Structure

Using the known resource at Zone 1B's Area 55 which prior to the 2009 exploration program already had initial indicated resources* of 2.1 million tonnes grading 1.81 g/t Au (123,000 contained ounces) and inferred resources of 5.7 million tonnes grading 1.74 g/t Au (319,000 contained ounces), as a control, the airborne geophysical survey data were used to identify extensions of the known mineralized structure.

Inside the 1.5 km wide Siribaya mega-structure, the high resolution survey identified a sub-structure approximately 500 metres wide delineated by magnetic lineaments and extending along a strike of 025°. This sub-structure, which includes Zone 1B, can be traced 2.5 km north and 8.0 km south from Zone 1B, a strike length of 10.5 kilometres. This main corridor is cross-cut by many secondary magnetic lineaments oriented from 050° to 080° Az.


"We began the 2009 exploration program at Siribaya with 123,000 ounces Au indicated and 319,000 ounces Au inferred over a 300 metre strike length at Area 55 of Zone 1B" commented Gregory Isenor, President and CEO of Merrex Gold Inc. "The 2009 drill program tripled Zone 1B's strike length to over 900 metres with strongly mineralized intercepts throughout the zone. With the airborne data we are now able to confidently identify the Zone 1B mineralized sub-structure starting at Area 55, follow the magnetic signature of that structure with the corresponding drill intercepts within Zone 1B, and map the specific mineralized sub-structure for a total of 10.5 kilometres, 2.5 kilometres north and 8.0 kilometres south from Zone 1B. We also have RAB drill intercepts over the 10 kilometre long Siribaya mega-structure and surface and termite geochemistry supporting the airborne data. Integration of these data reinforces our belief that future drilling along the 10.5 kilometre Zone 1B sub-structure will intersect mineralization and result in substantial increases in the Zone 1B resource."

The Airborne Survey

From June to August 2009 Merrex undertook a high resolution airborne magnetic/radiometric spectrometer survey on its 800 square kilometre Siribaya Gold Project, including the region of the Siribaya mega-structure and Zone 1B. The airborne survey conducted by Xcalibur Airborne Geophysics of South Africa totalled 22,785 line-kilometres with 50 metre flight line spacing. Quality control and enhancements were done by Paterson, Grant & Watson Limited of Toronto. The enhanced data were interpreted by Merrex technical personnel.

Further announcements regarding the airborne survey results from other areas of the Siribaya Gold Project will be made in the near future.

* The initial resource estimate was prepared in February 2009 by ACA Howe International Limited and is compliant with the disclosure requirements of NI 43-101.

Siribaya Gold Project

Merrex holds a 100% interest in an 800 square kilometre land package located in west Mali, Africa. The Siribaya Gold Project is joint exploration project funded by IAMGOLD Corporation, managed by a joint IAMGOLD-Merrex management team and operated by Merrex. IAMGOLD may earn up to 50% interest in the Siribaya Gold Project by expending Can$10.5 Million over four years. During 2009 over $3,000,000 was spent on an exploration program comprised of diamond drilling, soil and termite mound geochemical sampling and an airborne magnetometer and spectrometer survey.

Jean-Marc Gagnon, P. Eng., Project Manager at Siribaya, is the Qualified Person as per NI 43-101 and is responsible for the information in this news release.

About Merrex

Merrex is a Mali focussed 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 which offers investors an extraordinary opportunity.


Gregory Isenor, President and Chief Executive Officer

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.

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