Drilling project complete at Mali's Siribaya gold mine

A 31-hole drilling project was completed at the end of 2015 at the Siribaya gold mine in the West African nation of Mali.

The mine is owned by Canadian company Merrex, the mining interests of which are mainly in West Africa. The completion of the Siribaya project was announced by Merrex President and CEO Greg Isenor.

The Siribaya Gold Project is an advanced-stage gold exploration project in West Mali comprised of approximately 700 square kilometers of exploration permits and permit applications pending. The site has proven to be gold-prolific. To date, project expenditures stand at $45 million.

In 2014 and 2015, activity at the Siribaya project was mainly at the Diakha deposit area along the Fekola-Boto trend in the western-most portion of the site. Those drill programs confirmed gold mineralization in several areas.

The drilling project was conducted to assess whether more shallow oxide mineralization was present in Zone 1B and Zone Taya-ko of the mine. Results are pending.

Successful mining projects have led to Merrex offering more than 4.3 million stock options to its officers and directors at 16 cents per share for five years; options will expire Dec. 28, 2020.

More information on the Siribaya Gold Project can be found online at www.merrexgold.com.