Meryllion Resources Corporation

TSX VENTURE : MYR


Meryllion Resources Corporation

February 03, 2014 16:21 ET

Meryllion Discovers Three Mineralized Breccia Zones at Its Cerro Amarillo Cu-Mo-Au Property in West Central Argentina

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb. 3, 2014) - Meryllion Resources Corporation ("Meryllion" or the "Company") (TSX VENTURE:MYR) is pleased to announce progress at its 168 sq-km Cerro Amarillo property in west central Argentina. During the course of routine, detailed geological mapping and sampling, the geological team has recognized three breccia bodies situated on the La Blanca prospect (formerly the "C4 prospect") situated in the southwest quadrant of the property (Figure 1). The location, shape and character of these breccia bodies suggests they could be hydrothermal breccia pipes which are commonly associated with Cu-mineralized porphyry systems. The breccias found so far include the "main", the "70 m" and the"150 m" bodies, generally from north to south, respectively (Figure 2).

The main breccia pipe at La Blanca forms an elliptical outcrop approximately 600 m long and 400 m wide (Figure 2) and occurs within a complex intrusive "plug" of diorite and micro-diorite porphyry approximately 1500 m in diameter; a zone of crackle breccia and stockwork veins extend up-to 100 m into the wallrock surrounding this pipe. Compositionally, the clasts in this breccia include diorite wallrock and quartz-dacite porphyry and range from a few millimetres to several metres in size. The clasts are angular to sub-rounded, and the matrix in-fill between the fragments is dominated by gossan developed after sulphide, with minor quartz, hematite, calcite and gypsum. Secondary copper minerals (malachite and azurite) have been observed both in outcrops and in float near the southern limit of the exposure of this pipe. The host diorite has been moderately to strongly affected by potassic alteration (biotite+magnetite), while the breccia and surrounding crackle zone exhibits strong phyllic alteration (quartz+sericite+pyrite). A broad halo of albite±pyrite alteration surrounds the pipe and overprints the potassic alteration. Some breccia clasts contain classic "A-type" stockwork veins which are associated with economically mineralized "porphyry copper" systems; similar stockworks have been observed in the diorite surrounding the north end of the main pipe (Figure 3).

The smallest of these exposures at La Blanca, the "70 m" pipe, is almost circular in outcrop and approximately 70 m in diameter, and occurs within a cluster of diorite porphyry outcrops similar to those at the main La Blanca pipe. The breccia around the eastern side of this pipe has angular clasts which are altered to an albite+chlorite assemblage hosted within a matrix of chlorite+specular-hematite. The breccia in the core of this pipe comprises sub-rounded clasts exhibiting sericite+quartz+pyrite alteration, and has a well-developed matrix infill matrix of gossan developed after sulphide+quartz. The diorite surrounding this pipe has irregularly developed zones of chlorite+magnetite and albite+chlorite alteration.

The "150 m" pipe has an irregular shape approximately 150 m long and 100 m wide, and occurs within a sequence of andesitic tuffs and volcanics. Breccia clasts here are mostly andesitic wallrocks and quartz-dacite porphyry. These clasts are angular in shape and range up-to 10 cm in size. Infill between the clasts includes gossan, pyrite and cockscomb quartz. The breccia has strong phyllic alteration (quartz+sericite+pyrite) which extends a short distance into the surrounding volcanic country rock.

"We're excited about this work, as the main La Blanca pipe is sufficiently-sized to contain a deposit of substantial tonnage," commented Meryllion's CEO Terry Krepiakevich, "We expect our on-going, aggressive rock-chip geochemical sampling program to refine the targets we currently know, while identifying new areas worthy of follow-up. Following the completion of this exploration program, we expect to develop a number of high-priority, compelling drill targets."

Meryllion's current exploration program comprises detailed geological mapping, geochemical sampling, and geophysical surveying together with property-wide prospecting. The geological team is headed by Geological Consultant Nick Tate, AIG. Mr. Tate has vast-experience in mapping porphyry and related mineralization systems throughout Australia, Papua New Guinea, Asia, South America and South Africa. Among his discovery credits are Phu Kham Cu-Au orebody, LCT Au orebody, Xaysomboun Pt prospect, and the Nong Xeun polymetallic prospect, all in Laos. The exploration program at the Cerro Amarillo project is being supervised by Willem Fuchter, PhD, PGeo, and CEO of Meryllion Argentina S.A. 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 is responsible for the exploration, and has approved the technical information 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.

To view Figures 1-3, click on the following link: http://media3.marketwire.com/docs/925572m.pdf

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