The news feeds on this site are independently provided by Adfero Limited © and do not represent the views or opinions of the World Gold Council.

Monday, 22nd December 2008 (944 views)

Merc International Minerals has confirmed that it has started work on its Damoti Lake gold project in Canada.

The company plans to carry out a new drilling programme at the site in early summer 2009 and mobilise supplies to Damoti Lake using a winter road during March next year.

A number of drill-ready targets have been identified on the property, including the Lard, Red Mountain and North Horseshoe zones.

Damoti Lake is located 200km north of Yellowknife, Northwest Territories and initial activities at the site include a detailed compilation of previous exploration work with the aim of increasing the overall resource in and around the project's Horseshoe zone.

Based in Toronto, Ontario, Merc acquired 100 per cent of Anaconda Mining's interests in the 2,849 hectare Damoti Lake gold project contiguous land package for CN$250,000 (£138,250) and issuing 1,250,000 common shares of Merc.

Merc recently announced that Murray Sinclair, co-chairman of Quest Capital, agreed to rejoin its board of directors to fill a vacancy left by the resignation of John McBride.

 

« Back to Gold News stories