Resource News

Mega Precious Metals Inc. (TSXV:MGP) announced further results from its Old Core assay program at its Monument Bay project in Manitoba, which continues to show high-grade gold and tungsten mineralization in the proposed open pit.

Mega Precious Metals Inc. (TSXV:MGP) announced further results from its Old Core assay program at its Monument Bay project in Manitoba, which continues to show high-grade gold and tungsten mineralization in the proposed open pit.

As quoted in the press release:

Since the August 12, 2014 cut-off date of the NI 43-101 resource statement, the OCAP program has sampled over 50 percent more tungsten samples above a cutoff grade of 0.13 percent WO3 (approximately 1.33 grams per tonne gold equivalent) and over 40 percent more samples greater than 0.63 percent (approximately 6.64 g/t gold equivalent) in the database. Consequently, these results have not been included in the current estimate and are indicative of how the tungsten resource will grow. As a point of reference, current Tungsten open pit mines have operational grades between 0.1 – 0.2 percent WO3.

Highlights of the Old Core assay program include:

  • SR -00-07 intersects 4.08 g/t gold, 0.13 percent WO3 across 3.0 meters
  • TL-03-128 intersects 3.79 g/t gold, 0.20 percent WO3 across 6.4 meters
  • TL-03-147 intersects 1.30 g/t gold, 0.06 percent WO3 across 26.0 meters including 2.21 g/t Au, 0.19 percen WO3 across 5.0 meters
  • TL-04-227 intersects 1.08 g/t gold, 0.04 percen WO3 across 20.8 meters including 2.14 g/t Au, 0.20 percent WO3 across 3.8 meters
  • TL-05-288 intersects 1.53 g/t gold, 0.12 percent WO3 across 3.5 meters
  • TL-11-396 intersects 1.01 g/t gold, across 23 meters including 6.21 g/t gold across 1.0 meters

Glen Kuntz, president, CEO and professional geoscientist at Mega Precious Metals, commented:

The OCAP Program has been a continual success.  Within the Twin Lakes Deposit we are finding a very strong correlation of high grade gold associated with tungsten mineralization that is concentrated in regular spaced high grade shoots. We are confident that the OCAP program will continue to expand and improve the resource with ongoing sampling as the results to date have shown consistent improvement in grade along the entire 4.0 kilometer deposit.  Since the tungsten discovery hole in Feb 6, 2013 the Twin Lakes Deposit and in particular the high grade gold and tungsten mineralization has always benefited and improved in grade with more sampling and infill drilling. We are very encouraged by these results which show significant potential for further expansion.

Click here to read the full Mega Precious Metals Inc. (TSXV:MGP) press release.

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