Merrex Gold Inc.

Merrex Gold Inc.

November 24, 2009 08:02 ET

Merrex Airborne Survey Identifies Second Major Sub-Structure (1A) Within Siribaya Mega-Structure

HALIFAX, NOVA SCOTIA--(Marketwire - Nov. 24, 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 has identified Zone 1A to be part of a second distinct 9.4 kilometre parallel sub-structure twinning the 10.5 kilometre 1B sub-structure. 

1A Sub-Structure

Within the 1.5 km wide x 12 km long Siribaya mega-structure, the high resolution airborne survey has revealed a second major sub-structure running parallel to the 1B sub-structure. (see MXI News Release 19 November, 2009)

The second sub-structure, which includes Zone 1A identified by prior diamond drilling, is a distinct sub-structure lying immediately east of and parallel along strike to the 1B sub-structure. The twin 1A sub-structure is approximately 500 metres wide and 9.4 kilometres along strike extending north from the region near Zone Timeta through Zone 1A to the limit of the permit area. (see map attached) Reflecting characteristics similar to the 1B sub-structure, the 1A substructure is delineated by magnetic lineaments and cross-cut by numerous secondary structures. Prior exploration, including surface soil geochemistry, strong trench data including 35 metres of 3.1g/t at surface, termite geochemistry stronger than the termite geochemistry at Zone 1B, numerous notable RAB drill intercepts, and Zone 1A diamond drill intercepts as high as 2.92gr/t over 34m and 4.18g/t over 17 m, indicates the presence of significant gold mineralization along the length of the 1A sub-structure.

To view the accompanying map, please visit the following link:


"Understanding that the Zone 1B mineralization was only a small portion of the major 1B sub-structure was extremely significant technically and economically" commented Gregory Isenor, President and CEO of Merrex Gold Inc. "That Zone 1A is part of the separate, distinct 9.4 kilometre 1A sub-structure mirroring the geological characteristics of the 1B sub-structure, is an equally material advancement in our understanding of the Siribaya mega-structure. The airborne geophysical survey clearly evidences two parallel sub-structures whereas our prior working hypothesis was that Zones 1A and 1B were just parts of a single connected structure that had been offset by faulting. The presence of a second major 9.4 kilometre sub-structure laying immediately adjacent and running parallel to the 10.5 kilometre 1B sub-structure may alter the value analysis for Siribaya. Additionally, as with the 1B sub-structure, there is compelling supporting evidence of strong gold mineralization along the 1A sub-structure. We have surface geochemistry, strong trench data (35 metres of 3.1g/t at surface), deep termite geochemistry (stronger than the Zone 1B termite geochemistry), notable RAB drill intercepts and, within Zone 1A diamond drill intercepts as high as 2.92gr/t over 34m and 4.18g/t over 17 m, all supporting the airborne data. Integration of these data leads us to the conclusion that future drilling along the 9.4 kilometre 1A sub-structure will intersect additional mineralization."

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 Zones 1A and 1B. The airborne survey conducted by Xcalibur Airborne Geophysics of South Africa totalled 10,122 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.

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 Siribya 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 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 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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