Meryllion Resources Corp. announce that the first phase of exploration on the Mt Turner Cu-Mo-Au project in north Queensland has identified a number of previously unknown near surface drilling targets as well as sub vertical deeper targets possibly associated with porphyry mineralization targets. Meryllion is earning an option over the Mt Turner Project from Essex Minerals Inc. ("Essex") by funding an induced polarization (IP) geophysical and mapping program to identify drill 1targets associated with an under-explored porphyry intrusive complex. The eastern flat-lying zone is characterized by a +40 millivolt/volt anomaly currently traced for a strike of 1.6 km (open to the north) with a width of up to 1.2 km. Initial interpretation suggests this anomaly could represent a secondary sulphide blanket or mineralization associated with overlying impervious flat- lying volcanic units and underlying coarser units and flat granite fractures above vertical feeder structures -- a classic trap site for hydrothermal fluids. The anomaly represents a previously unknown, significant near surface drill target. The sub-horizontal and associated vertical anomalies are associated with the annular Mt Turner and Mt Turner East intrusive centers and provide important new data in defining significant porphyry drill targets at Mt Turner. Detailed field mapping has confirmed the contact of the intrusive and granite host is oftenoccupied by annular hydrothermal and collapsed breccias intruded by late-stage pebble dykes. The clasts are rounded indicating transport and cemented in places by drusy quartz and gossan and display open space texture. In addition, quartz veined mineralized clasts within the breccia indicate that hydrothermal fluids have brought deeper mineralization to the surface. These hydrothermal breccias may have transported deeper porphyry style molybdenite mineralization to the surface which has been identified in previously reported soil anomalies. Decompression breccias indicative of a porphyry environment have also been observed.the western NE striking zone varies from 100 to 200 m wide and is currently 1.2 km in strike. Several zones of quartz veined gossanous breccias associated with fault slices of schist and altered granite intruded by rhyolite dykes are evident at surface. A significant (+40 millivolt/volt) vertical chargeability anomaly is coincident with a gold in soil anomaly on IP Line 3 and 5. Supergene copper mineralization has been located at lower elevations associated with quartz veining. Several rock chips of surface mineralization have been submitted for assay. The Mount Turner Property lies in the western portion of the Georgetown Inlier, which constitutes the
bulk of the proclaimed Etheridge Goldfield. It consists of variably metamorphosed and deformed sedimentary and volcanic rocks of Palaeo- to Mesoproterozoic age, intruded by Mesoproterozoic granites. The Proterozoic rocks have been intruded by Siluro-Devonian age granitic rocks during a period of subduction and underplating that is thought to have occurred during the Tabberabberan cycle of the Tasman Orogen (ca 430- 380 Ma). The Georgetown Inlier subsequently experienced a period of felsic intrusion and accompanied sub-aerial volcanism during the Carboniferous to Permian period (ca 350-230 Ma) associated with extension and rifting that developed during the Hunter-Bowen cycle of the Tasman Orogeny. This magmatism is termed the Kennedy Igneous Association, which consists of widespread and voluminous felsic extrusive and intrusive igneous rocks, producing a number of large volcanic subsidence structures. This magmatic event was responsible for the 5 million-ounce Kidston gold deposit located some 70 km to the SE of Mt Turnerand several other precious metal deposits in Queensland.