Meryllion begins ionic adsorption clay project drilling

Executive Summary

• Meryllion Resources has commenced an investigative reconnaissance open-hole RAB drilling program at its Tasmanian Ionic Adsorption Clay (IAC) Rare Earth Element (REE) project in northeastern Australia.
• The drilling aims to follow up on previous outcrop sampling that reported significant grades, including up to 3,500 ppm TREE, high-grade dysprosium, and terbium, with no detected radioactive elements.
• The company anticipates receiving drilling results within 60 days and is also planning to initiate the permitting process for its Makenzie project in Nevada in the first quarter of 2026.

Key Details

• Project Location: Tasmanian IAC REE Project, northeastern Tasmania, Australia.
• Tenure: 800-square-kilometre tenement package prospective for IAC-hosted REEs.
• Drilling Method: Open-hole rotary air blast (RAB) techniques.
• Drilling Scope: Approximately 400 metres in wide-spaced reconnaissance-type vertical holes.
• Depth: Expected average of six metres deep.
• Sampling Protocol: Samples taken at one-metre intervals from surface.
• Laboratory: ALS Chemex in Burnie, Tasmania, for prepping; South Australia facility for XRF analysis.
• Previous Sampling Context (May 21, 2024 Release):
  • TREE grades up to 3,500 ppm (range 2,395.5 to 3,505.3 ppm).
  • Dysprosium (Dy to Dy2O3): 163.0 to 276.6 ppm.
  • Terbium (Tb to Tb4O7): 26.11 to 43.28 ppm.
  • Radioactive elements (thorium and uranium): None detected.
• Future Plans: Initiation of the permitting process for the Makenzie project (Nye County, Nevada) in Q1 2026.

Notable Quotes

• Richard Revelins, CEO: "We are very pleased to get out onto our ground and start drilling. We are highly encouraged by the results that have been reported by our immediate neighbours ABx Group. The nature of IAC REE deposits is they tend to occur near surface and are generally shallow in nature. The drilling program is designed to cover as much ground as possible over a number of defined target areas. We anticipate having results available within the next 60 days."