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Mega Precious Metals Files NI 43-101 Report for North Madsen
Mega Precious Metals Inc. (TSXV:MGP) announced that it has filed a NI 43-101 technical report for the gold resources at its Ontario-based North Madsen project.
Mega Precious Metals Inc. (TSXV:MGP) announced that it has filed a NI 43-101 technical report for the gold resources at its Ontario-based North Madsen project.
The company notes that there is no material difference between today’s report and the disclosure provided in a news release put out on February 13, 2014.
Highlights include:
- Surface/near surface (<250m from surface) Measured and Indicated Resources of 0.9 M Ounces of Gold at 1.2 g/t Au
- Surface/near surface Inferred Resources of 0.38 M Ounces of Gold
- All resources are open along strike and at depth
- 91-95% Metallurgical Recoveries
- Over 40,000 meters in 327 drill holes were incorporated into the geological model and includes over 25 new holes totaling 8,200 m of drilling since the previous resource update
- Improved confidence in the deposit with 70% of the resource in the Measured and Indicated categories
- Robust resource using a gold price of USD $1200 USD per ounce ($200 less than previous resource)
- Approximately 7 kms trucking distance from Madsen Mine Mill being acquired by Laurentian Goldfields Ltd. and Goldcorp Inc.’s Red Lake Mill
Click here to read the full Mega Precious Metals Inc. (TSXV:MGP) press release.
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