HALIFAX, NOVA SCOTIA--(CCNMatthews - Sept. 5, 2006) - Gregory Isenor, President and CEO of Merrex Gold Inc., ("Merrex") (TSX VENTURE: MXI)is pleased to provide shareholders with the following update on its West Mali Gold Project.
Merrex has completed an extensive geochemical sampling program covering gold anomalous structures on its West Mali Siribaya Gold Project which presently includes the Siribaya, Taya-Malea, Kofia, Babara and Somageco permits. Merrex has also completed a small orientation diamond drilling program over the Berekegni orpailleur workings within the Siribaya Permit.
To date approximately 25% of the known gold anomalous structures have been soil sampled. The geochemical program successfully outlined numerous gold anomalies in the area sampled including an eight kilometer gold anomalous structure that has produced trenching results of 3.1 g/t Au over 35 meters at Zone 1A (previously reported July 25, 2006), grab sample of 76 g/t Au at Timeta 1 and soil samples as high as 14.89 g/t Au at Timeta 2. See: Map 1 Map 2 Map 3 Map 4.
Concurrently with the geochemical survey, Merrex undertook a small orientation drill program over the orpailleur workings at Berekegni on the Siribaya Permit. This program, which consisted of five shallow holes aggregating 435 meters, was designed to test the geology of the old surface workings. The orientation drilling program yielded gold intersections in four of the five holes and confirms that the gold mineralization outlined in the geochemical anomalies continues at depth.
From the four positive holes the most significant gold intersections assayed were:
Drill hole SRB-06-01: 2.4 g/t Au over 1.5 meters from 62 meters to 65.2 meters and 3.3 g/t Au over 3.2 meters from 62 meters to 65.2 meters; Drill hole SRB-06-03: 1.0 g/t Au over 7.7 meters from 17.6 meters to 25.3 meters; Drill hole SRB-06-05: 2.1 g/t Au over 3.4 meters from 47.9 meters to 51.3 meters; and Drill hole SRB-06-04: 1.0 g/t Au over 8.2 meters from 70.7 meters to 78.9 meters and 1.3 g/t Au over 9.6 meters from 93.9 meters to 103.5 meters.
Overall, in addition to the intersections reported above, gold values grading from 0.5 to 1.6 g/t Au were obtained in 17 additional intersections varying in length from 0.6 to 2.0 meters.
The orientation drill program has demonstrated that the Siribaya Permit region has been affected by a strong gold bearing hydrothermal system with the hydrothermal activity being clearly evidenced by silicification and hematisation, and by the encountered chalcopyrite, pyrite, arsenopyrite, galena, and tourmaline mineralisation, in close correlation with a quartz veinlet system. See Map 5.
A RAB drilling program of approximately 30,000 meters is being designed to test these gold anomalies. An aggressive soil sampling and prospecting program over the remaining gold anomalous structures within Merrex's 750 sq km Siribaya Project is also being planned for the next six-month field season.
Siribaya and Taya-Malea Permits
These additional geochemical results have extended the previously reported geochemical anomaly identified at Siribaya (July 13, 2006) for an additional four kilometers resulting in the outlining of a gold anomalous structure of eight kilometers in length which remains open both to the north and south. Sampling and prospecting identified several other target areas within the Siribaya and Taya-Malea permits that require follow-up. The diamond drill results confirm that the geochemical gold anomalies reflect gold in bedrock and, together with the ongoing geochemical work, clearly indicate the gold potential within the Siribaya Project. (See maps on the Merrex website).
Kofia and Babara Permits
A limited geochemical sampling program was carried out on these permits and anomalies previously identified have been confirmed. These permits will be sampled and prospected during the next field season. (See maps on the Merrex website).
The 109 sq km Kakadian permit is located in the northern portion of the West Mali Gold Belt approx 15 kilometers west of the Sadiola Mine. A small geochemical sampling program covering approx 15% of the permit was completed to test the previously mapped structures on the property. Geochemical anomalies have peak values of 639 ppb and 405 ppb and, though sparse, do outline the mapped structure. Based on the positive indications from this additional due diligence work Merrex is proceeding from the Letter of Intent stage to a final option agreement. Further work will be completed on the property once required documentation and regulatory filings have been completed. (See maps on the Merrex website).
Diamond drilling was carried out by the PDRM, a technical department of the Ministry of Mines of Mali and samples from both the drilling and geochemical program were sent to ABILAB, a well-known accredited laboratory in Bamako, Mali, where they were assayed for gold by the Fire Assay method on pulverized fractions of 50 grams.
Jean-Marc Gagnon, Eng, MBA, is the named Qualified Person who supervised this program and reviewed and approved the technical information contained in this news release.
The following maps (attached) and the information contained therein are incorporated into this news release by reference:
Map 1: "Soil Geochemical Survey for Gold"
Map 2: "Geochemical Siribaya/Taya-Malea Projects
Map 3: "Geochemical Zone 1A / Taya-Malea Project"
Map 4: "Soil Geochemistry Timeta zone / Siribaya Project
Map 5: Plan showing drill holes with assays, SRB-06-01 to SRB-06-05
Merrex Gold is a mineral resource exploration company focused on exploration for gold in Mali, West Africa, for zinc-lead in Cape Breton, Nova Scotia and for nickel in Voisey's Bay, Newfoundland.
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.
FOR FURTHER INFORMATION PLEASE CONTACT:
Merrex Gold Inc.
Greg Isenor - Halifax office
Merrex Gold Inc.
John Cumming - Vancouver office