Meryllion Resources Enters into Lease and Option Agreement for the Makenzie Gold, Silver and Antimony Project, Nevada, USA
Meryllion Resources (CSE:MYR) has executed a Lease and Option Agreement with Bull Mountain Resources LLC for the Makenzie Gold, Silver and Antimony project in Nevada. The project, located 44 km south-southwest of Austin, represents one of Nevada's largest untested gold, silver, and antimony anomalies.
The company has expanded the project area to 102 claims covering 8.34 km². Historical drilling results include values up to 1.337 g/t Au over 10 meters and 31.89 g/t Ag. Recent sampling reported values up to 2.90 g/t Au, 70.2 g/t Ag, and 288ppm Sb.
Under the five-year agreement terms, Meryllion will make staged payments totaling $370,000, complete 6,000 linear meters of drilling, and can acquire 100% interest in the property while granting BMR a 2% NSR on project lands.
Meryllion Resources (CSE:MYR) ha stipulato un Accordo di Locazione e Opzione con Bull Mountain Resources LLC per il progetto Makenzie di oro, argento e antimonio in Nevada. Il progetto, situato a 44 km a sud-sudovest di Austin, rappresenta una delle più grandi anomalie di oro, argento e antimonio non ancora esplorate del Nevada.
L'azienda ha ampliato l'area del progetto a 102 concessioni minerarie per un totale di 8,34 km². I risultati storici di perforazione includono valori fino a 1,337 g/t Au su 10 metri e 31,89 g/t Ag. Campionamenti recenti hanno riportato valori fino a 2,90 g/t Au, 70,2 g/t Ag e 288 ppm Sb.
Secondo i termini dell'accordo quinquennale, Meryllion effettuerà pagamenti scaglionati per un totale di 370.000 $, completerà 6.000 metri lineari di perforazione e potrà acquisire il 100% della proprietà, concedendo a BMR un 2% NSR sulle terre del progetto.
Meryllion Resources (CSE:MYR) ha firmado un Acuerdo de Arrendamiento y Opción con Bull Mountain Resources LLC para el proyecto Makenzie de oro, plata y antimonio en Nevada. El proyecto, ubicado a 44 km al sur-suroeste de Austin, representa una de las mayores anomalías de oro, plata y antimonio sin explorar de Nevada.
La empresa ha ampliado el área del proyecto a 102 reclamos que cubren 8,34 km². Los resultados históricos de perforación incluyen valores de hasta 1,337 g/t Au sobre 10 metros y 31,89 g/t Ag. Muestreos recientes reportaron valores de hasta 2,90 g/t Au, 70,2 g/t Ag y 288 ppm Sb.
Bajo los términos del acuerdo de cinco años, Meryllion realizará pagos escalonados por un total de 370,000 $, completará 6,000 metros lineales de perforación y podrá adquirir el 100% de la propiedad, otorgando a BMR un 2% NSR sobre las tierras del proyecto.
Meryllion Resources (CSE:MYR)는 Bull Mountain Resources LLC와 네바다 주에 위치한 Makenzie 금, 은, 안티몬 프로젝트에 대한 임대 및 옵션 계약을 체결했습니다. 이 프로젝트는 Austin에서 남남서쪽으로 44km 떨어진 곳에 위치하며, 네바다에서 가장 큰 미개척 금, 은, 안티몬 이상체 중 하나입니다.
회사는 프로젝트 구역을 102개의 채굴권으로 확장하여 8.34 km²를 커버하고 있습니다. 과거 시추 결과는 10미터 구간에서 1.337 g/t Au와 31.89 g/t Ag의 값을 포함합니다. 최근 시료 분석에서는 2.90 g/t Au, 70.2 g/t Ag, 288ppm Sb까지 보고되었습니다.
5년 계약 조건에 따라 Meryllion은 총 370,000달러의 단계별 지불을 진행하고, 6,000미터의 시추를 완료하며, 프로젝트 토지에 대해 BMR에게 2% NSR를 부여하는 조건으로 자산의 100% 지분을 취득할 수 있습니다.
Meryllion Resources (CSE:MYR) a conclu un accord de location et d'option avec Bull Mountain Resources LLC pour le projet Makenzie d'or, d'argent et d'antimoine au Nevada. Le projet, situé à 44 km au sud-sud-ouest d'Austin, représente l'une des plus grandes anomalies d'or, d'argent et d'antimoine non explorées du Nevada.
L'entreprise a étendu la zone du projet à 102 concessions couvrant 8,34 km². Les résultats historiques de forage incluent des valeurs allant jusqu'à 1,337 g/t Au sur 10 mètres et 31,89 g/t Ag. Des échantillonnages récents ont révélé des valeurs allant jusqu'à 2,90 g/t Au, 70,2 g/t Ag et 288 ppm Sb.
Selon les termes de l'accord de cinq ans, Meryllion effectuera des paiements échelonnés totalisant 370 000 $, réalisera 6 000 mètres linéaires de forage et pourra acquérir 100 % des intérêts de la propriété tout en accordant à BMR un 2 % NSR sur les terrains du projet.
Meryllion Resources (CSE:MYR) hat einen Miet- und Optionsvertrag mit Bull Mountain Resources LLC für das Makenzie Gold-, Silber- und Antimon-Projekt in Nevada abgeschlossen. Das Projekt, 44 km süd-südwestlich von Austin gelegen, stellt eine der größten bislang unerforschten Gold-, Silber- und Antimon-Anomalien Nevadas dar.
Das Unternehmen hat das Projektgebiet auf 102 Claims mit einer Fläche von 8,34 km² erweitert. Historische Bohrergebnisse umfassen Werte von bis zu 1,337 g/t Au über 10 Meter und 31,89 g/t Ag. Aktuelle Proben ergaben Werte von bis zu 2,90 g/t Au, 70,2 g/t Ag und 288 ppm Sb.
Im Rahmen der fünfjährigen Vereinbarung wird Meryllion gestaffelte Zahlungen in Höhe von insgesamt 370.000 $ leisten, 6.000 Meter Bohrungen abschließen und kann 100 % Eigentum an der Liegenschaft erwerben, während BMR eine 2 % NSR auf den Projektflächen erhält.
- None.
- Substantial capital commitments required including $370,000 in payments
- Mandatory exploration expenditures and drilling requirements
- Project is still in early exploration stage with no defined resources
- 2% NSR royalty obligation on project lands
Vancouver, British Columbia--(Newsfile Corp. - July 14, 2025) - Meryllion Resources Corporation (CSE: MYR) ("Meryllion" or the "Company") is pleased to announce that it has executed a Lease and Option Agreement dated as of July 11, 2025 (the "Agreement") with Bull Mountain Resources LLC ("BMR").
BMR is the owner of thirteen (13) lode-mining claims covering the volcano-sedimentary Antimony/Gold/Silver "Makenzie" project (the "Property") located in Nye County, Nevada.
The Makenzie Prospect is a large (>2.5km²) low-sulphidation epithermal style multi-vein underground target, located 44 kms south-southwest of Austin in the Toiyabe Range of Central Nevada and approximately 48 kms north-northwest of Kinross Mining's Round Mountain Mine (>10M ozs Au).
Makenzie is one of the largest untested gold, silver and antimony anomalies in Nevada.
As a condition precedent to the Agreement, Meryllion was required to stake a minimum of 50 additional lode-mining claims within the "Area of Influence" (see Figure 1 below) surrounding the Makenzie project. The Company wishes to advise that it has now staked an additional 89 claims, bringing the combined project area to 102 claims over an area of 8.34 kms2.
The geology at Makenzie comprises a series of NE trending silicified breccia bodies up to 100m in width associated with a large rhyolite porphyry dike that have intruded into a ~250m thick package of water lain felsic tuffs and tuffaceous sediments.
The breccia and dike intrusion has resulted in extensive and intense argillic and silicic alteration of the tuffaceous horizons, showing anomalous gold, silver and antimony geochemistry, with north-south trending strata-bound mineralization being documented in both the silicified mudstones and other water lain sediments.
The project has seen limited historic exploration in the 1980's by ASARCO Exploration (see Figure 2), in 2008/9 by Silverthorn Exploration Inc. (Exploration Report of ION5b Gold Project, Nye County, Nevada by J. Dixon, January 2009) and more recently (2014/15) by La Cuesta International (LCI) (Sample Designations and Summary of 2nd Quarter 2015 Reconnaissance Explorations Program by B. Hillemeyer and P. Dunning, August 2015).
The historical drilling (Rotary Drilling) by ASARCO Exploration in 1984 and 1985 (information sourced from LCI's 2015 report) included 11 short (20 to 290ft - 6 to 88m) and 2 deep (900ft - 274m) vertical holes focused on an open pit disseminated gold target within the intrusives and did not sufficiently test the higher-grade style of epithermal veining and strata-bound mineralization targets that Meryllion has identified.
The drilling reported several narrow anomalous gold values with up to 1.337 g/t Au (0.039 opt Au) over 10 meters (SJC84-4-0-10) and 31.89 g/t Ag (0.93 opt Ag) (SJC85-5-0-10 Average between rerun and original sample).
In 2008/9 Silverthorn Exploration Inc. acquired the claims and conducted a ground magnetic and VLF geophysical survey, outlining an area of interest trending NNE and covering some 2.5 x 1kms exposed at Antimony Hill (to the north of the project area) and Rhyolite Hill (to the south).
In 2009, further exploration included rock chip sampling (261 samples) and mapping across the claim block with a locally 100 x 50m soil grid (700 soil samples) focused on the main Rhyolite and Antimony hills area.
Results reported from the rock chip sampling include: 19 samples >1.0g/t Au with a high of 6.53g/t Au; Silver values up to 221.83g/t Ag and 88 samples having >50ppm Sb (antimony) of which 9 reported values >
The most recent sampling and reconnaissance mapping (confirmation of the historical mapping by Silverthorn) was completed in 2014/15 by LCI and reported assay values of:
2.90g/t Au + 70.2g/t Ag + 288ppm Sb over 2m true width within an iron stained flow banded rhyolite host.
1.3g/t Au + 11.5g/t Ag + 290ppm Sb over 2 x 2m from outcrop of clay altered intrusive.
1.74g/t Au + 11.4g/t Ag + 356ppm Sb over 3m in a silicified tuff unit.
Values were reported from intrusives, breccias, tufaceous units as well as the water lain mudstones and sediments. Anomalous As and Hg geochemistry is noted as haloeing the main area of interest.
Meryllion will now initiate an exploration program following a review of the current data (historical) available with an initial plan for conducting field work in the near future.
Meryllion's Chief Executive Officer, Richard Revelins, commented: "Our team has invested significant effort in attempting to identify and secure new additional exploration and mining activities for the Company. Nevada is certainly a well-known and sought after mining destination and the largest gold producing region in the US. Nevada boasts mining friendly regulations and a highly favorable permitting and exploration environment. We are looking forward to getting to work on this new high prospective and exciting project."
Figure 1: Makenzie Project Land Position
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Figure 2: Schematic Cross Section, Makenzie Au-Ag-Sb Project
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Structure of Transaction
1.1 Pursuant to the Agreement, which has a term of five years (the "Term"), Meryllion will lease the Property from BMR and will have the irrevocable option to purchase a
(a) make the following payments to BMR (all in US dollars):
| Payment | Due Date |
| USD 15,000 | Effective Date |
| USD 15,000 | 6 Month Anniversary of Effective Date |
| USD 20,000 | 12 Month Anniversary of Effective Date |
| USD 100,000 or, at Purchaser's discretion, and subject to the approval of the CSE, issuance of Shares to Seller with a 20-Day VWAP of USD 100,000 | 12 Month Anniversary of Effective Date |
| USD 20,000 | 18 Month Anniversary of Effective Date |
| USD 25,000 | 24 Month Anniversary of Effective Date |
| USD 50,000 or, at Purchaser's discretion, and subject to the approval of the CSE, issuance of Shares to Seller with a 20-Day VWAP value of USD 50,000 | 24 Month Anniversary of Effective Date |
| USD 25,000 | 30 Month Anniversary of Effective Date |
| USD 25,000 | 36 Month Anniversary of Effective Date |
| USD 25,000 | 42 Month Anniversary of Effective Date |
| USD 25,000 | 48 Month Anniversary of Effective Date |
| USD 25,000 | 54 Month Anniversary of Effective Date |
(b) Meryllion will be required to perform work, at a minimum equivalent to USD as follows:
| Incremental Work Commitment | Due Date |
| USD 50,000 | 1st Anniversary of Effective Date |
| An additional USD 100,000 | 2nd Anniversary of Effective Date |
| 2,000 linear meters of drilling | 3rd Anniversary of Effective Date |
| An additional 2,000 linear meters of drilling | 4th Anniversary of Effective Date |
| An additional 2,000 linear meters of drilling | 5th Anniversary of Effective Date |
| Additional annual USD 100,000 of exploration expenditure | 6th Anniversary of Effective Date and each subsequent Anniversary of Effective Date, thereafter, should the Term be extended |
Any exploration expenditure amounts and any drilling amounts in excess of the minimum requirements shall be credited against future work requirements.
1.2 On satisfaction of the payments and exploration activity outlined above, Meryllion shall acquire from BMR a
(a) two percent (
(b) one-half percent (
1.3 Upon cumulative pre-production payments and NSR payments totaling
Qualified Person
Mark J. Pryor, SACNASP, is a Qualified Person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects and has reviewed and approved the scientific and technical disclosure set out in this news release. Mr. Pryor is an independent advisor to the Company.
About Meryllion Resources Corporation:
Meryllion is an exploration stage company listed on the Canadian Securities Exchange. The Company has the rights to acquire up to a
About Bull Mountain Resources LLC:
BMR is a successful project identification and acquisition group with interests in a number of active exploration projects across the United States and Mexico. BMR's Perry Durning and Frank "Bud" Hillemeyer have operated La Cuesta International, Inc. (LCI) since 1993, successfully exploring for precious and base metals within Mexico and the United States since its inception. Over the course of the past 32 years LCI has successfully identified and secured numerous projects of which five major discoveries (including Orla Mining's Camino Rojo mine, First Majestic Silver's Cerro Los Gatos mine, and Hecla's San Sebastian mine) have gone into production. The LCI team has been credited with well over 1 billion ounces of Ag and over 10 million ounces of Au discovered. BMR was formed in 2020 to bring on Bud's son, Nick Hillemeyer, and continue the legacy of discovery.
For Further Information, please contact:
Richard Revelins
Chief Executive Officer
rrevelins@peregrinecorporate.com
+1-310-405-4475
Forward-Looking Statements
Information set forth in this news release may involve forward-looking statements under applicable securities laws. The forward-looking statements contained herein are expressly qualified in their entirety by this cautionary statement. The forward-looking statements included in this document are made as of the date of this document and the Corporation disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation. Although Management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. This news release does not constitute an offer to sell or solicitation of an offer to buy any of the securities described herein and accordingly undue reliance should not be put on such.
Neither CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/258688
FAQ
What are the key terms of Meryllion Resources' (MYRLF) Makenzie project acquisition?
Where is the Makenzie Gold, Silver and Antimony project located?
What are the historical drilling results from the MYRLF Makenzie project?
How many claims does Meryllion Resources have at the Makenzie project?
What are the exploration requirements for MYRLF at the Makenzie project?
