Nov 16 2010
Mercer Gold Corporation (OTCQB: MRGP, AN4.F Frankfurt) announces that it has reached a depth of 242 meters on its third drill hole, MGDH-03 at its Guayabales Gold Project in Colombia and plans are to extend the drilling to a target depth of approximately 600 meters.
Mercer Gold Corp. geological team has stated that the Company is seeking to define targets across the current drill zone, which is one of three areas on the site with potential targets for gold, silver and copper mineralization. This program is on time and continues to fall within the budget established for drilling, despite some challenging conditions caused by heavy rains in the area.
Mercer Gold Corp.'s in-country team has been very successful working with their experienced localized driller who is familiar with the topography and the varied conditions. They have met each target drill date over the previous zones on the Guayabales site and are on track for completion of this stage of drilling as planned.
A number of landslides have occurred on access routes over the past couple of weeks. Mercer has assigned a work force to the task of clearing roads to assist the community in overcoming the hardships related to the current weather situation. Additionally, Company crews are repairing small local water pipelines to restore water service where it has been cut.
Rahim Jivraj, Mercer Gold's CEO and President states, "Mercer's camp is on track with our drilling and we are confident about our timing as mapped out by our team. We are aware however that it's important for us to contribute by aiding the communities near Marmato. Therefore, we are lending workforce assistance to vital services and infrastructure such as roads. We plan to be a part of Guayabales and the Marmato area for a very long time. We are glad to contribute."
Source: Mercer Gold Corp.