Nov 25 2010
Mercer Gold Corporation (OTC Bulletin Board: MRGP, AN4.F Frankfurt) announces the receipt of positive results from its first analyzed drill hole from the Guayabales Gold Project in the Marmato District in Caldas Department, Colombia.
Hole MGDH-01A intercepted 14 meters grading 2.12 grams per tonne within a zone of 22 meters in length grading 1.59 grams per tonne. The best value in the Zone was 6.6 grams per tonne over 2 meters between 42 and 44 meters. MGDH-01A was drilled as a replacement for Hole MGDH-01, which experienced less than satisfactory recovery in the area of interest and was subsequently lost at 107 meters. MGDH-01A re-drilled through the area of interest to a depth of 70 meters.
James Stonehouse, Mercer's Country Manager in Colombia states, "The zone is thicker in this area than predicted, which is good. This data will help us guide subsequent drilling better into this important target area."
Hole MGDH-01A and recently completed Hole MGDH-02 were targeted to determine true orientations of the previously described Encanto Target Zone and to prove vertical continuity to this important target area. The Encanto Zone is one of four significant target areas to be tested in the current 5000-meter program of drilling underway at Guayabales. Subsequent drilling will test deep, Marmato-type mineralization, a porphyry target delineated by geologic mapping and sampling, and an anomalous Silver and arsenic area outlined in previous geochemical sampling.
Rahim Jivraj, Mercer's President and CEO states, "We're excited to get positive drill results from this first, relatively short drill hole. These assays offer early validation of our concept at Guayabales and are even better than expected. I am looking forward to the further results from the drilling that is already under way."
Comments on Sampling, Assaying, and QA/QC: Mercer's samples were collected in accordance with accepted industry standards and procedures. The program was carried out by Mercer personnel under close geologic supervision. Samples were submitted using in-house QA/QC protocols employing commercially purchased standards to Acme Laboratories commercial preparation laboratory in Medellin, Colombia.
James M. Stonehouse, CA P. Geo #5518, is a Qualified Person for the purposes of National Instrument 43-101 Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators. He has prepared, reviewed and verified the technical information contained in this news release.