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January 15, 2015
Mega Precious Metals Inc. (MGP:TSX-V) (“Mega”) is pleased to announce additional drill results from the 2014 drill and Old Core Assay Program (“OCAP”) at the Monument Bay Project, located in Manitoba. The success of the 2014 exploration program continues to confirm and extend the continuity of near surface high grade gold/tungsten structures that have multiple occurrences of visible gold (“VG”). In addition, Mega has defined new mineralized structures and has extended the mineralization below the conceptual open pit (figure 1). The gold and tungsten intercepts announced below focus on the east side of the Twin Lakes deposit. These intercepts have the potential to significantly increase the size and grade of the current mineralized footprint as they are not included in the recently announced resource update (November 21, 2014).
Intercepts include broad intervals of continuous gold mineralization that host high grade gold and tungsten:
Glen Kuntz, P.Geo, President and CEO, stated “The 2014 drill and OCAP programs continue to demonstrate the potential to expand the size, grade and quality of the current Twin Lakes resource. The knowledge gained with the recent discovery of the parallel South Limb mineralized structure and the expansion of the gold tungsten high grade areas within the Twin Lakes deposit has the potential to provide value for our shareholders. Our team is looking forward to drilling our step out targets in our upcoming winter drill program which is limited in scope and will leave our treasury in good shape.”
To date, over 150 km of drilling has been completed on the project which has outlined multiple gold/tungsten deposits, a high grade starter pit, a tungsten by-product credit and most recently the discovery of multiple parallel systems along our 140 km mineralized belt. The upcoming 5,000m drill and OCAP program will focus on the expansion of these near surface high grade structures and the step out holes will focus on the regional structures as we believe they have the potential to identify additional high grade mineralization within and between the proposed high grade starter pits.
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