MEGA’S STEPOUT DRILLING OUTLINES TWO NEW MINERALIZED ZONES AND FURTHER EXPANDS THE QUARTZ TOURMALINE AND DISSEMINATED ZONES AT THE NORTH MADSEN PROJECT IN RED LAKE, ONTARIO
None of the results from the 2012 drill program are included in the NI 43-101
resource which was released September 2011 and contained a NI 43-101 compliant
Measured resource of 19,638,140 tonnes grading 1.27 g/tonne for 803,886 ounces,
plus an Indicated resource of 3,838,000 tonnes grading 1.08 g/tonne for 133,281
ounces plus an Inferred resources of 11,486,000 tonnes grading 1.03 g/tonne for
379,026 ounces using a 0.50 g/tonne cut off grade.
Consolidated figures of the long sections are available below and the full series is available at http://www.megapmi.com/nm_project_presentations
•MM1213 intersected, 53.0 metres at 0.66 g/t gold
•MM1223 intersected, 26.0 metres at 1.57g/t gold, including 2.0 metres at 9.98 g/t gold
•MM1224 intersected, 70.0 metres at 0.86 g/t gold
•MM1225 intersected 99.0 metres at 0.74 g/t gold, including 11.0 metres at 3.96 g/t gold
Quartz Tourmaline Zone
•MM1212 intersected, 23.0 metres at 1.37 g/t gold, including 5.0 metres at 5.75 g/t gold
•MM1213 intersected, 29.6 metres at 3.21 g/t gold, including 8.0 metres at 4.61 g/t gold
•MM1215 intersected, 105.0 metres at 0.66 g/t gold, including 36.0 metres at 1.06 g/t gold
•MM1219 intersected, 3.0 metres at 0.96 g/t gold
A summary of the drilling results are listed below. -- Mega precious metals press continues at the link below.
Source: Mega Precious Metals
Disclosure: Mega Precious Metals is a Vulture Bargain Candidate of Interest (VBCI). Members of the GGR team are actively accumulating and may hold long positions in MGP.V.