Merrex Gold Inc.
TSX VENTURE : MXI

Merrex Gold Inc.

March 02, 2007 10:16 ET

Merrex Intersects 4.51 g/t Au / 14m Open at Depth and RAB Drilling at Siribaya, West Mali Continues

HALIFAX, NOVA SCOTIA--(CCNMatthews - March 2, 2007) - Merrex Gold Inc. ("Merrex")(TSX VENTURE:MXI) is pleased to announce additional extremely positive drill results from RAB drilling currently underway on its Siribaya Gold Project in West Mali. This drilling to date has outlined a gold mineralized structure extending for a distance of a minimum four kilometres, open at both ends and at depth. This indicates a Major Gold Mineralized System at Siribaya. (See Maps 1,2, and 3)

To view a map of the Zone 1A map, please click on the link below:

http://www.ccnmatthews.com/docs/merrex1.pdf

To view a map of the Zone 1A Surface Plan map, please click on the link below:

http://www.ccnmatthews.com/docs/merrex302.pdf

To view a map of the Siribaya Structure RAB Results map, please click on the link below:

http://www.ccnmatthews.com/docs/merrex302b.pdf



Assay highlights received to date from the Siribaya Trend include:

- 2.30 g/t Au / 32m
- 4.51 g/t Au / 14m
- 6.84 g/t Au / 4m
- 12.92 g/t Au / 2m


"Our Siribaya Gold Project continues to produce excellent results" commented Merrex President and CEO Greg Isenor, P. Geo." These are very significant results and an inspection of the drill section confirms several holes ending in excellent grade mineralization. This is an immediate diamond drill target. A longitudinal line through the Zone 1-A anomaly adds to our understanding of the Siribaya deposit. In particular, this north-south line provides further evidence of the continuity of the mineralization within Zone 1-A, and with excellent gold grades. Diamond drilling will be carried out in the near future to test this mineralization at depth."

Merrex has outlined a substantial mineralized structure at its Siribaya Gold Project. The structure is 10 kilometres long and has been drilled to date for a distance of approximately four kilometres long by one kilometre wide, with a confirmed depth extension of at least 30 metres, open to the north, south and at depth. (see release: February 8, 2007).

The RAB drilling program, with a planned total of 40,000 metres, is designed to test the numerous identified geochemical anomalies within the 10 kilometre long Siribaya Structure. (see release: January 8, 2007). Phase one of the planned program includes initially 19 lines of RAB drilling with lines spaced 100 to 200 metres apart and holes spaced 10 to 30 metres apart on the lines. All holes are scheduled to be drilled at -50 degrees to a planned depth of 55 -- 70 metres. To date, 26 RAB lines have been completed comprising 637 drill holes (27,000 metres). The cuttings from the RAB drill holes were detail logged and 14,814 samples were collected and shipped to ALS Chemex assay labs in Bamako, Mali for assay. Samples were collected every one or two meters down the hole and the entire hole was sampled.

A complete list of assays to date will be posted on the Merrex web site (www.merrexgold.com).



Assay results for the north-south RAB line over Zone 1-A are summarized
as follows:

ASSAY SUMMARY TABLE

--------------------------------------------------------------
RAB Line # Hole ID From (m) To (m) Length Au
(m) (g/t)
--------------------------------------------------------------
RTY-07-370 0 2 2 1.20
--------------------------------------------------------------

--------------------------------------------------------------
RTY-07-370 6 28 22 1.32
--------------------------------------------------------------
Incl. 6 14 8 1.76
--------------------------------------------------------------
Incl. 22 28 6 1.41
--------------------------------------------------------------

--------------------------------------------------------------
RTY-07-371 0 8 8 2.19
--------------------------------------------------------------

--------------------------------------------------------------
RTY-07-371 16 30 14 4.51
--------------------------------------------------------------
Incl. 18 30 12 4.96
--------------------------------------------------------------
Incl. 20 22 2 9.53
--------------------------------------------------------------

--------------------------------------------------------------
RTY-07-372 0 8 8 1.20
--------------------------------------------------------------

--------------------------------------------------------------
RTY-07-372 12 32 20 2.39
--------------------------------------------------------------
Incl. 18 22 4 3.38
--------------------------------------------------------------
Incl. 28 32 4 3.37
--------------------------------------------------------------

--------------------------------------------------------------
RTY-07-373 0 32 32 2.30
--------------------------------------------------------------
Incl. 8 12 4 6.01
--------------------------------------------------------------
Incl. 22 24 2 4.00
--------------------------------------------------------------

--------------------------------------------------------------
RTY-07-374 12 18 6 1.28
--------------------------------------------------------------

--------------------------------------------------------------
RTY-07-374 26 40 14 2.35
--------------------------------------------------------------
Incl. 28 34 6 3.88
--------------------------------------------------------------

--------------------------------------------------------------
RTY-07-376 32 40 8 3.66
--------------------------------------------------------------
Incl. 32 36 4 6.84
--------------------------------------------------------------
Incl. 34 36 2 12.92
--------------------------------------------------------------

--------------------------------------------------------------
RTY-07-381 12 16 4 1.35
--------------------------------------------------------------

--------------------------------------------------------------
RTY-07-382 20 22 2 1.42
--------------------------------------------------------------


Merrex owns a large land position in the prolific West Mali gold producing area. Together with strategic partner Touba Mining, Merrex has acquired five mineral permits covering over 750 square kilometres of the West Mali Gold Belt which currently produces in excess of 1.5 million ounces of gold per year from well known large gold deposits such as the Sadiola, Loulo and Tabakoto mines. The Merrex permits cover highly prospective land with significant geological structures, associated geochemically anomalous gold zones, extensive orpailleur alluvial gold workings and artisinal underground workings. In addition, Merrex is in various stages of negotiations to acquire additional mineral permits in the area which, when completed, would result in a contiguous land position of approximately 1,000 square kilometres all within the prolific West Mali Gold Belt.

Samples are collected at the exit of the drill cyclone with plastic buckets resulting in 30-35 kg of material. The cyclone is blown clean by the drill operator between samples. Each sample is split with a high capacity splitter until a two to three kilogram sample for assay and a duplicate are obtained, and both samples are bagged and numbered. The excess material is poured as heaps of cuttings on the ground in a systematic down-hole line for logging by a geologist. Control samples are inserted at approximately every 25 samples, and a duplicate sample and a blank sample are alternatively intercalated in the sampling sequence. The samples are then transported by truck to the exploration camp in Berekegni (less than four kilometres) under the direction and supervision of the named Qualified Person. The secured samples are packed in rice bags and shipped directly by truck or plane to Bamako with a sample shipment control form. Samples are recorded upon receipt at the ALS Chemix ABILAB Laboratory and then assayed for gold by method of "fire assay" form a pulverized fraction of 50g and with a limit detection of 5ppb.

The program is being carried out under the supervision of Jean-Marc Gagnon, Eng.,MBA, the qualified person responsible for the verification and accuracy of these results.

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.

Merrex Gold Inc. invites the public to visit its website at www.merrexgold.com or to email us at info@merrexgold.com to be added to the Company's email list for press releases and updates.

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.

Contact Information

  • Merrex Gold Inc.
    Greg Isenor
    President & CEO
    (902) 832-5555
    or
    Merrex Gold Inc.
    Diane Webber
    Senior Geologist/Investor Relations
    (902) 832-5555