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  • Mercer Gold Corp. (MRGP.OB) is “One to Watch” 0 comments
    Sep 13, 2010 2:10 PM

    Founded in 2004, Mercer Gold Corporation is a company that focuses on gold exploration and resource definition in Colombia. They acquired the prospective Guayabales Gold Project, located in the Marmato Gold District, Department of Caldas, earlier in 2010. The Company is exploring the Guayabales property and is looking to acquire additional prospective gold properties in Colombia. Mercer Gold Corp. trades on the OTCBB, and they have their headquarters in Golden, Colorado.

    The Company was formerly known as Uranium International Corp. They changed their name to Mercer Gold Corporation on June 9, 2010. Mercer Gold Corporation, entered into an Option Agreement with Comunidad Minerea Guayabales on March 4, 2010 to acquire a 100 percent interest in the Guayabales property. Mercer Gold subsequently entered into an Option Agreement with Uranium International (now renamed Mercer Gold Corporation) to acquire their 100 percent interest in Guayabales subject to the terms of the Underlying Option Agreement on April 13, 2010.

    The Guayabales Property is in the Department of Caldas, approximately 80 kilometers south of Medellin, Colombia. Guayabales is located in the Marmato Mining District. This region has an extensive and productive gold mining history dating back to before the time of the Spanish Conquistadors, and continuing to the present. Security, access, infrastructure and available workforce are adequate to support the development of a mineral deposit at Guayabales.

    Today, Mercer Gold announced that they received results from the geochemical soil sampling program completed at their Guayabales Gold Project in Caldas Department of Colombia near Marmato. A total of 292 samples were taken. This included blanks, standards and duplicates. Samples in the field were taken at depths of between 0.60 meters and 2.00 meters. The soils sampling program covered the entire property at sample spacing of 100 x 100 meters.

    The sampling program served to delineate more clearly the previously known epithermal Encanto Zone, which had been the subject of work by others in the past. The sampling identified a broad anomaly in Gold, Copper and Lead at the NE extremes of the property, interpreted to be related to porphyry mineralization. All of these anomalies will be the subject of an upcoming drill program to commence in the coming months. Mercer plans to drill 5000 meters to investigate epithermal and porphyry targets at Guayabales.

    “Our prudent exploration approach is delivering encouraging results; it’s broadened the Encanto Zone and even presented us with three new targets in areas previously unexplored. Our potential for success on this project is growing as a result. We look forward to additional results that will come as a result of our drill program starting in October,” said Rahim Jivraj, President.
     
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