|By Marketwired .||
|January 20, 2014 04:31 PM EST||
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 01/20/14 -- Meryllion Resources Corporation ("Meryllion" or the "Company") (TSX VENTURE:MYR) is pleased to announce that it has commenced its austral summer campaign of exploration on its Cerro Amarillo Cu-Mo-Au property in west central Argentina. All necessary authorizations have been issued by the relevant authorities and written permission to access the property and to carry out the exploration has been received from the surface rights owner.
The Cerro Amarillo project area is 168 km2 and contains three porphyry prospects, Cerro Amarillo ("CA"), Cajon Grande ("CG"), and C4, which lie in a corridor trending from northeast to southwest, respectively.
The CA prospect contains a classical porphyry-style mineralized system which includes stockwork, disseminated, breccias, skarn, and vein-types of mineralization. These appear zoned, with a central quartz diorite porphyry plug containing well developed quartz-magnetite stockworks and disseminated chalcopyrite surrounded by mineralized hydrothermal breccias with abundant pyrite. Within the hydrothermal breccia zone, weathering and the presence of pyrite may present an excellent supergene trap for leached copper and gold. Skarn mineralization occurs in an almost perfect ring at the intersection of the vertical breccias and the shallow-dipping calcareous sedimentary sequence. Rare, peripheral veins containing barite, hematite, galena, and sphalerite occur out to a radius of approximately one kilometer.
At CG, the porphyry intrusions also exhibit copper mineralization and associated hydrothermal alteration, and earlier sampling results have indicated the presence of anomalous values of molybdenum and gold. The alteration includes an early stage potassic (quartz biotite) event with which some of the copper mineralization is associated. This appears to have been overprinted by an intense stockwork of veins and associated sodic-calcic (actinolite albite +/- sericite) alteration with which most of the copper seems to be related. Magnetite also strongly associated with this event. In addition, low-temperature, sub-epithermal, barite siderite sulphide veins occur distal to the porphyry system.
The C4 system in the southwest is believed to have the potential to host large zones of mineralized porphyry and breccia, as evidenced by float samples of dacite porphyry and mineralized breccia. There is extensive hydrothermal alteration developed over a six kilometer strike. This alteration includes zones of quartz pyrite with argillic overprinting developed over a strike of at least two kilometers, and extending beyond that into shears and peripheral breccia zones. Magnetite, magnetite-actinolite, and specular hematite veins, stockworks and breccias have been noted to occur below this main phyllic zone, and the alteration can be interpreted as a lower-grade sodic-calcic alteration phase, which may have a possible core of potassic alteration not yet noted or exposed at surface.
In addition to the three well defined prospects, there are an additional four colour/alteration anomalies (C2, C3, La Tienda and Vacas Muertas), which the Company could explore in future exploration campaigns.
"The large scale footprint of the porphyry systems identified to date, and especially C4, is indicative of the large tonnage Cu-Mo-Au potential for the property," commented Meryllion's CEO Terry Krepiakevich, "Furthermore, Cerro Amarillo's geological similarity to the world class El Teniente and Los Bronces deposits as well as its the location within the extension of the same Neogene magmatic arc is positive for future exploration success."
Meryllion's program comprises detailed geological mapping, geochemical sampling, and geophysical surveying together with property-wide prospecting. Quantec Geoscience has been contracted to undertake an IP survey over known indications of mineralization, and all geochemical samples are being sent to the accredited facilities of ALS Chemex Laboratory in Argentina for analysis. The work is being supervised by Willem Fuchter, PhD PGeo, who 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 program on the Cerro Amarillo property, and has approved the technical information in this news release.
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.
Meryllion Resources Corporation
Chief Legal Officer and Corporate Secretary