Prohibition Drilling Results

MERCATOR GOLD plc
(“Mercator Gold”, “Mercator” or “the Company”)

AIM: MCR

US OTC: MTGDY

 

LONDON: 24 NOVEMBER 2006

  • Resource drill-outs at Prohibition return intersections that include:

    Prohibition

    • 12m at 13.8g/t
    • 19m at 5.0g/t
    • 30m at 3.1g/t
    • 21m at 3.1g/t
    • 31m at 2.1g/t
  • Reserve estimation for Bluebird and Surprise enter final stage.
  • Plant upgrade on time and budget for completion mid-January 2007

 

The Managing Director, Mr Patrick Harford said:

“The drilling results continue to confirm the potential of the Prohibition ore body. Consistent widths give us lots of options as to mining method. The plant refurbishment and mining studies are progressing well with recruitment and mining contracts now under consideration”

Prohibition-Vivian-Consols

Hole ID

Depth from surface

Internal dilution

Interval

06PRRD028

234m

7m

19m @ 5.0g/t

06PRRD029

407m

0

8m @ 2.5g/t

06PRRD030

322m

2m

16m @ 1.9g/t

06PRRD034

94m

3m

12m @ 13.8g/t

06PRRD036

282m

19m

27m @ 1.9g/t

including 6m @ 4.9g/t

06PRRD037

254m

6m

21m @ 3.1g/t

06PRRD040

343m

14m

31m @ 2.1g/t

including 9m @ 4.1g/t

06PRRD041

371m

12m

30m @ 3.1g/t

 

Exploration for shallow oxide mineralisation

The Company’s programme of exploration for shallow oxide and other near-surface ores is returning positive results. Preliminary data are available for Nannine, Maid Marion and Whangamata (north of Bluebird). Additional results are pending.

Nannine is one of four mining centres within the Company’s tenement holding at Meekatharra. The Nannine mining centre has produced more than 200,000 ounces of gold from surface alluvial, oxide open cut and lode underground mines. Significant RAB drill intersections (>1.0 g/t Au) received include but are not limited to:

Hole ID

Depth from surface

Internal dilution

Interval

06NNRB115

24m

0

4m @ 5.8g/t

06NNRB142

12m

0

4m @ 3.3g/t

 

At Meekatharra North, the Company is focused on RC drilling the zone of oxide mineralisation at Maid Marion. The drilling confirms a NNE-trending zone of deeply weathered mineralisation 270m in length. Significant drill intersections (>1.0 g/t Au) received include but are not limited to:

Hole ID

Depth from surface

Internal dilution

Interval

06MMRC040

75m

6m

10m @ 1.6g/t

06MMRC045

173m

5m

8m @ 1.1g/t

06MMRC047

10m

6m

18m @`1.7g/t

 

An on-going aircore (AC) programme at Whangamata continues to identify a NNW-trending zone of mineralised quartz veining at shallow depth. Significant drill intersects (>1.0 g/t Au) received include but are not limited to:

 

Hole ID

Depth from surface

Internal dilution

Interval

06WHAC047

18m

0

2m @ 8.2g/t

06WHAC055

46m

7m

12m @ 1.2g/t

06WHAC055

69m

9m

15m @ 1.3g/t

Consent for release

Julian Vearncombe BSc (Hons), PhD, FGS, RPGeo, FAIG is a director of the Company and consents to the inclusion of the exploration information in the form and context in which it appears here. Julian Vearncombe is a Competent Person for the reporting of these results as defined by the JORC Code 2004 Edition.

 

For further information please contact:

Mercator Gold plc    
Patrick Harford, Managing Director Tel: +44 (0) 20 7929 1010
Email:This email address is being protected from spambots. You need JavaScript enabled to view it.    
   
   
   
Parkgreen Communications    
Justine Howarth / Ana Ribeiro Tel: +44 (0) 20 7493 3713

 

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