MERCATOR GOLD plc
(“Mercator Gold”, “Mercator” or “the Company”)
US OTC: MTGDY
LONDON: 20 OCTOBER 2004 - Mercator Gold plc (“AIM-MCR”) as operator of the Annean Joint Venture is pleased to announce that drilling rigs have been mobilised for commencement of a 10,000m reverse circulation and rotary air blast drilling program on three gold exploration targets in the Yaloginda region.
The Yaloginda drilling represents the first of five gold targets to be drilled by Mercator before the end of the year within the 1,020 sq km Annean Joint Venture area in the Meekatharra region of Western Australia.
Using SpaDiS™ technology, Mercator has reviewed the previous exploration and production data from the Yaloginda area, where more than 1,000,000 ounces of gold was mined previously from 18 surface oxide deposits in a 15km by 2km mineralised zone.
The initial drilling at Yaloginda targets high-grade shoots below and along strike from the previously mined oxide resources, which have been chosen by Mercator for their capacity to host ore bodies containing at least 500,000 ounces of gold. Assay results from the drilling should be available within eight weeks.
Mercator operates a continuous disclosure policy with respect to exploration results. Company news releases are based on technical information approved by the Company’s Exploration Director, Julian Vearncombe BSc (Hons), PhD, FGS, RPGeo, FAIG.
For further information please contact:
|Mercator Gold plc|
|Patrick Harford, Managing Director||Tel:||+44 (0) 20 7929 1010|
|Beaumont Cornish Limited|
|Roland Cornish||Tel:||+ 44 (0) 20 7628 3396|
|Phillip Securities UK Limited|
|Nick Bealer||Tel:||+44 (0) 20 7553 8281|
|Justine Howarth / Ana Ribeiro||Tel:||+44 (0) 20 7493 3713|
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