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ESSEX OPTIONS MT TURNER COPPER-MOLYDENUM AND DRUMMER FAULT GOLD PROJECTS TO MERYLLION RESOURCES CORPORATION
ESSEX OPTIONS MT TURNER COPPER-MOLYDENUM AND DRUMMER FAULT GOLD PROJECTS TO MERYLLION RES...
About this update from Optegra Ventures Inc.
[{"type":"text","content":"\n \n \n \n ESSEX OPTIONS MT TURNER COPPER-MOLYDENUM AND DRUMMER FAULT GOLD PROJECTS TO MERYLLION RESOURCES CORPORATION\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n VANCOUVER, BC\n \n \n ,\n \n \n April 26, 2022\n \n \n /CNW/ -\n \n Essex Minerals Inc.\n \n (the \"Company\") (TSXV: ESX) (OTCQB: ESXFM) (FRA: EWX1) is pleased to announce that it has reached terms with Meryllion Resources Corporation (CSE: MYR) (\"Meryllion\"), a company listed on the Canadian Stock Exchange, for an arm's length option and earn-in joint venture on the Mt Turner copper-molybdenum and Drummer Fault gold projects in north\n \n Queensland, Australia\n \n .\n \n \n \n \n \n \n \n \n \n \n Highlights\n \n \n \n \n Exploration by\n \n Essex\n \n has identified a coherent copper in soil anomaly (>100ppm) flanking a molybdenum in soil anomaly (>10ppm) over a 4km x 4km area at Mt Turner. The soil anomalies are coincident with circular aeromagnetic and geological features which display classic signatures of a large copper-molybdenum porphyry system.\n \n \n \n \n Mt\n \n Turner\n \n also has the potential to identify an economic gold resource along the Drummer Fault structure, which has demonstrated gold mineralization beneath six small oxide open pits, previous drilling and rock chip samples along 14 km of the identified strike length within the project area.\n \n \n \n \n \n Essex\n \n has granted Meryllion a 90-day option to fund a minimum\n \n $250,000\n \n on exploration at Mt Turner, including a detailed induced polarization survey to define drill targets within the porphyry system.\n \n \n \n \n Meryllion will then have the right to earn up to a 70% interest in the project by funding up to a further\n \n $3,800,000\n \n in exploration in three stages.\n \n \n \n \n $400,000\n \n on exploration within 12 months from the exercise date of the Option (\"First Stage Earn-In\") to earn 25%;\n \n \n \n $1,400,000\n \n on exploration within 36 months of exercising the Option (\"Second Stage Earn-in\") to earn 51%; and\n \n \n a further\n \n $2,00...