Mega Precious Metals Intersects 61M of 3.44 g/t Gold Including 6.64 g/t Gold Over 30M, Expands High Grade Continuity Near Surface at Monument Bay
Thunder Bay, Ontario May 22, 2014
Press Release Highlights:
Mega’s 2014 drill program continues to define near surface high grade gold and gold/tungsten structures within a broader gold mineralized zone and multiple occurrences of visible gold (“VG”).
TL-14-526 intersects 61m of 3.44 g/t gold including 6.64 g/t gold over 30m
TL-14-518 intersects 52m of 1.34 g/t gold equivalent including 1.98 g/t gold over 31m plus 1.17% WO3 over 3.0m
TL-14-516 intersects 18.5m of 1.81 g/t gold including 2.71 g/t gold over 11.85m
TL-14-520 intersects 25m of 1.00 g/t gold including 1.40 g/t gold over 15m
Additional gold and tungsten assays are pending from the ongoing 2014 OCAP and drill program
Mega Precious Metals Inc. (MGP:TSX-V) (“Mega”) is pleased to announce an additional six (6) holes from its 29 hole, 4,784 m winter drill program on its 100% owned high grade gold and tungsten Monument Bay Project, located in Manitoba.
Prior to this year’s 2014 drill program, limited drilling had taken place in the top 100 m of the porphyritic dyke host rock and associated shear zones at the Twin Lakes Deposit. The results are especially significant because of the width of near surface high grade mineralization, up to 30m in true thickness, and Mega’s ability to continue to intersect continuous gold and gold/tungsten mineralization within a broader gold mineralized zone all within the upper 50 m of the deposit.
The results from TL-14-526 are among the highest gold intercepts with multiple occurrences of visible gold (VG) in the Twin Lakes Deposit. Drilling continues to demonstrate that appreciable high grade mineralization occurs within 25m of surface along the eastern edge of the proposed starter pit. Holes TL-14-513, TL-14-516, TL-14-518 to TL-14-520 were focused on converting near surface inferred low grade or waste material into considerable grade potential within the eastern/central portions of the current proposed pit shell. The current Monument Bay open-pittable resource covers a strike length of 8 kms with limited deep drilling.
Glen Kuntz, P.Geo, President and CEO, stated “The 2014 drill program has definitively confirmed that there are multiple continuous high grade gold and gold tungsten mineralized horizons within the deposit. These horizons are providing further confidence in our geological model, our ability to continue to building resources and to realize the full potential of the Monument Bay Project.
The continuity of these intercepts along with previously reported gold and tungsten results are located in continuous shear zones that flank the broad QFP dike which hosts the majority of the gold and tungsten mineralization and suggest the potential for an economic Tungsten by-product credit due to the consistent nature of the gold and tungsten association throughout the Monument Bay Project. Mega’s decision to focus its efforts on near surface resource expansion, above 150 meters, has further strengthened the geological model and continues to added significant value for our shareholders.”
