TORONTO, ONTARIO--(Marketwire - Jan. 26, 2010) - Merc International Minerals Inc. ("Merc") (TSX VENTURE:MRK) announced today that a ground geophysical program has commenced at its Damoti Lake Gold Project in preparation for the 2010 Winter Drill Program expected to begin in early March. The first drill program was completed in early November 2009 and included 27 drill holes (5,600 metres) of which 96% intersected gold mineralization. (For further results please visit Merc's website: www.mercinternational.ca.)
As part of an initial orientation program, a detailed ground magnetic, electromagnetic, and localized induced polarization surveys will be carried out over gold mineralized zones previously drilled by Merc in order to determine their physical responses and characteristics. This information will be used to help trace mineralization along strike and down plunge within the known host structures, and to establish better survey parameters to more effectively target and assess new opportunities throughout the property's 14 kilometre strike length of gold mineralized iron formation.
"The detailed magnetic survey will help us locate areas of structural complexities, including folding, faulting, and thickening of the iron formation units, all of which represent highly prospective areas in terms of their potential to host gold mineralization," stated Merc's CEO, Dr. Michael Byron. "Once identified, electromagnetic and induced polarization surveys will be selectively run over these areas to identify conductors, as the association between gold and pyrrhotite, a highly conductive mineral, has been well documented. The resulting targets will be tested in our upcoming drill program as we continue to aggressively advance Damoti Lake."
In November 2009, Merc closed a $3.1 million flow-through financing to support the 2010 Damoti Lake geophysics and winter drill program (10,000 metres), which is expected to be completed by May 2010.
Merc is also pleased to announce that it will be displaying core samples from its 2009 Damoti Lake Summer Drill Program at the 2010 Prospectors and Developers Association of Canada's (PDAC) Trade Show in Toronto, Ontario. The core may be viewed on March 7 & 8, 2010 at the PDAC Core Shack, Booth #5004, Level 700, Metro Toronto Convention Center, South Building.
This news release may contain forward-looking statements based on assumptions and judgments of management regarding future events or results. Such statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements. The Company disclaims any intention or obligation to revise or update such statements.Neither 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.