Merc International Minerals Inc. (TSX VENTURE:MRK) announced today that it has embarked on a strategic and extensive expansion program to grow its gold exploration property portfolio in the Northwest Territories through staking and property acquisitions.
Merc recently initiated a large scale staking program of ground in the Northwest Territories to enlarge its area of influence beyond its existing Damoti Lake Gold Project. Additionally, Merc is actively pursuing synergistic acquisitions in the area and is currently in the advanced stages of negotiations to acquire certain mining leases and mineral claims in the Northwest Territories from a private entity. These combined initiatives will enable Merc to undertake a methodical and exhaustive exploration program on one of the largest and most under-explored gold camps in Canada.
David Wiley, President and CEO of Merc commented, "Today's announcement signals Merc reigniting an "area play" in a region that has been under-explored given the history of significant gold discoveries, the abundance of gold showings, historic drilling, old workings, and geology that today remains untested. Our team of geologists have identified several exploration targets within an approximate 20km by 45km area. With two back to back fund raisings just completed, we are well funded by a seasoned, experienced and respected group of successful mining investors. We are committed to executing this Northwest Territories expansion strategy and look forward to an active 1st quarter in calendar 2011."
Source: Merc International Minerals Inc.