Meryllion Resources Corporation

TSX VENTURE : MYR


Meryllion Resources Corporation

March 17, 2014 17:46 ET

Meryllion Completes Induced Polarization (IP) Surveys at Its Cerro Amarillo Cu-Mo-Au Property in Argentina

VANCOUVER, BRITISH COLUMBIA--(Marketwired - March 17, 2014) - Meryllion Resources Corporation ("Meryllion" or the "Company") (TSX VENTURE:MYR) is pleased to announce that it has completed two ground geophysical surveys on its Cerro Amarillo Cu-Mo-Au property in west central Argentina. The Cerro Amarillo project covers an area of 168 km2 and contains at least three high priority porphyry prospects, Cerro Apero, Cajon Grande, and La Blanca in addition to a number of other colour/alteration anomalies. The porphyry prospects lie in a northeast-trending corridor on the property, and geophysical surveying was conducted over the Cero Apero and Cajon Grande prospects.

The geophysical surveys were conducted by Quantec Geoscience employing a 2D/3D DC Resistivity and IP system. Surveyed grids were laid out over Cerro Apero and Cajon Grande prospects with each grid consisting of two orthogonal lines arranged to intersect at the center of the mineralized zone within the porphyry systems (Fig 1). Line location and final specifications were determined with the help of Meryllion's geophysical consultant in conjunction with Quantec's field crew and processing staff, and the practicality of surveying in the topographically difficult terrain of the property was also taken into consideration.

Basic survey parameters were: a = 100 m, n = 1-8, and a pole-dipole array was employed. In addition, ground magnetic data were collected along the IP lines. The program was supported by helicopter to move personnel and equipment onto, between, and off the prospects.

Standard 2D in-line pole-dipole IP and resistivity data were collected on both of the orthogonal lines on each of the two prospects, plotted in the normal pseudo-section format, and processed subsequently using 2D inversion code.

In order to obtain added off-line coverage while collecting data in 2D in-line mode, a suite of potential electrodes connected to a second conventional receiver was set up on the orthogonal cross-lines, and data were collected for each transmitter electrode position coincident with the in-line data acquisition. This approach should provide off-line information which, together with the in-line data, will then be inverted using standard 3D inversion code. This is a novel configuration, and expectations are that it could add significant subsurface information on the two prospects.

Data are currently being processed by Quantec's staff in Toronto, and both 2D/3D inversions are being computed. Preliminary field 2D inversions were calculated and plotted onto sections, revealing chargeable material at-depth at both Cajon Grande and Cerro Apero, and suggesting the presence of sulphide mineralization. At Cajon Grande, a buried, approximately 300 m deep, IP anomaly of moderate intensity is located directly under the microdiorite porphyry plug and represents a promising drill target. At Cerro Apero, the majority of the IP response in the 2D inversions appears flat-lying and presumably related to the skarn mineralization known to occur on the prospect. These data suggest that potential skarn mineralization is volumetrically much larger than has been mapped at surface, and has suggested specific targets for possible drill testing.

"While not all the data have been processed, we are nevertheless excited with the preliminary results," commented Meryllion's CEO Terry Krepiakevich, "Our technical team is starting to develop a model for the mineralization that will aid in the development of an effective drilling strategy for the next phase of exploration."

Meryllion's program comprises detailed geological mapping, geochemical sampling, and geophysical surveying together with property-wide prospecting. Meryllion's geophysical efforts are overseen by Geophysical Consultant Anthony Watts, PGeo. Mr. Watts has recently retired as Chief Geophysicist with Glencore after 25 years with Falconbridge/Xstrata Nickel. Prior to that, he worked with Amax Exploration Canada and Geoterrex, and has conducted geophysical exploration in North and South America, Africa, Asia, and Australasia, and was part of the exploration team responsible for the discovery of the buried Ujina orebody at the Collohuasi porphyry project in Chile. The exploration program at Cerro Amarillo is being supervised by Willem Fuchter, PhD PGeo, CEO of Meryllion's subsidiary in Argentina. Dr. Fuchter is a Member of the Association of Professional Geoscientists of Ontario ("APGO"), and is a qualified person in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects. He has approved the data disclosed in this news release.

ABOUT MERYLLION

Meryllion is a natural resource company engaged in the acquisition and exploration of resource properties in South America.

This press release contains forward-looking statements. All statements, other than statements of historical fact, constitute "forward-looking statements" and include any information that addresses activities, events or developments that the Company believes, expects or anticipates will or may occur in the future including the Company's strategy, plans or future financial or operating performance and other statements that express management's expectations or estimates of future performance.

There can be no assurance that any forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader should not place any undue reliance on forward-looking information or statements. Except as required by law, the Company does not intend to revise or update these forward-looking statements after the date of this document or to revise them to reflect the occurrence of future unanticipated events.

The TSX Venture Exchange has neither approved nor disapproved of the contents of this press release. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.

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