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Last C$0.09 CAD
Change Today +0.045 / 100.00%
Volume 18.9M
MGP On Other Exchanges
As of 3:59 PM 04/24/15 All times are local (Market data is delayed by at least 15 minutes).

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mega precious metals inc (MGP) Details

Mega Precious Metals Inc. is engaged in the acquisition, exploration, and development of mineral properties in Canada. It holds a 100% interest in the Monument Bay property, which consists of 136 contiguous claims totaling approximately 338 square kilometers in northern Manitoba; and a 65% interest in the Domain project that comprises 3 staked claims totalling 576 hectares situated in the Gods Lake greenstone belt in northern Manitoba. The company also has a 100% interest in the North Madsen project, which comprises the Laverty East My-Ritt and Skookum properties located in the prolific Red Lake Gold Camp; and the Headway property that consists of 6 patented claims and 1 unpatented claim totaling approximately 320 acres in Red Lake, Ontario. In addition, it holds interest in the Blue Caribou property, which consists of 25 staked mineral claims totaling 25,605.9 hectares in Nunavut, Canada. The company was formerly known as Mega Silver Inc. and changed its name to Mega Precious Metals Inc. in September 2009. Mega Precious Metals Inc. is headquartered in Thunder Bay, Canada.

mega precious metals inc (MGP) Top Compensated Officers

Chief Executive Officer, President and Direct...
Total Annual Compensation: C$189.7K
Chief Financial Officer
Total Annual Compensation: C$18.0K
Compensation as of Fiscal Year 2013.

mega precious metals inc (MGP) Key Developments

Mega Precious Metals Inc. Announces Old Core Assay Program Results from Monument Bay Project, Manitoba

Mega Precious Metals Inc. announced further Old Core Assay Program ("OCAP") results which continue to define multiple parallel high grade gold and tungsten mineralization located within the proposed open pit at the Monument Bay Project, located in Manitoba. Since the August 12, 2014 cut-off date of the NI 43-101 resource statement, the OCAP program has sampled over 50% more tungsten samples above a cutoff grade of 0.13% WO3 (approximately 1.33 g/t Au Equivalent) and over 40% more samples greater than 0.63% (approximately 6.64 g/t Au 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% WO3. OCAP intercepts include broad intervals of continuous gold mineralization that host high grade gold and tungsten: //st SR -00-07 intersects 4.08 g/t Au, 0.13% WO3 across 3.0m TL-03-128 intersects 3.79 g/t Au, 0.20% WO3 across 6.4m TL-03-147 intersects 1.30 g/t Au, 0.06% WO3 across 26.0m including 2.21 g/t Au, 0.19% WO3 across 5.0m TL-04-227 intersects 1.08 g/t Au, 0.04% WO3 across 20.8m including 2.14 g/t Au, 0.20% WO3 across 3.8m TL-05-288 intersects 1.53 g/t Au, 0.12% WO3 across 3.5m TL-11-396 intersects 1.01 g/t Au, across 23m including 6.21 g/t Au across 1.0m. To date, the OCAP gold and tungsten sampling program has focused primarily on the central and western portions of the deposit which have shown considerable growth in both the width of the mineralization and the grade continuity. This is demonstrated by the much deeper proposed open pit outline in the current resource both in the central and western portions of the Twin Lakes Deposit. The OCAP sampling program is currently focused on the eastern portions of the Twin Lakes Deposit where little to no gold or tungsten sampling had been completed to date and has discovered considerable meterage that is mineralized and has not been sampled.

Mega Precious Metals Inc. Discovers Extensive Sericite Fuchsite Alteration and Broad Gold Mineralization at Newly Identified Regional Structure

Mega Precious Metals Inc. announced that initial exploration drilling on the regional targets has succeeded in identifying a new regional structure called the South Limb Shear Zone (SLSZ). Recent widely spaced drilling has intersected broad areas of alteration with consistent anomalous gold mineralization over a strike length of more than 20 km. The newly discovered SLSZ is 1 km south of and parallel to the Twin Lakes Shear Zone (TLSZ) which hosts more than 2.2 million measured and indicated ounces and 0.9 million inferred ounces of equivalent gold at the Monument Bay Project, located in Manitoba. Each drill hole in the TLSZ and SLSZ has consistently intersected gold mineralization. Drilling on the SLSZ has also intersected a new style of mineralization of fuchsite-quartz-pyrite-molybdenite veining in altered volcanics and Timiskaming-type metasedimentary rocks. Assays are pending. Monument Bay Project now hosts multiple mineralized deposits in a variety of host rocks along multiple structures that are indicative of large gold camps (such as Hemlo and Timmins). To date, approximately 2,700 metres of the planned drill program has been completed, consisting of 10 drill holes that have tested multiple targets along each of the 27km long TLSZ and SLSZ structures. The SLSZ was recently identified during a geological-geophysical compilation and was interpreted to represent the sheared southern limb of a large scale fold with the TLSZ occurring along the northern limb of this fold. Mega's 2015 winter drill program along the South Limb Shear Zone (SLSZ) has intersected broad sericite-silica alteration with associated gold mineralization comparable to alteration occurring in and proximal to the Twin Lakes and Mid East deposits hosted in the TLSZ. Localized fuchsite alteration is unique to the SLSZ and occurs proximal to gold mineralization. South Limb Target: The South Limb Target is the first area tested in the SLSZ and is in the immediate vicinity of the Twin Lakes Deposit. Three drill holes each spaced approximately one kilometre apart intersected broad alteration zones and gold mineralization in quartz-carbonate veins with pyrite, arsenopyrite, pyrrhotite, chalcopyrite and sphalerite mineralization. TL-15-551 intersected a broad gold mineralized zone grading 0.30 g/t over 17.0 m. (81.0 m - 98.0 m). TL-15-549 and TL-15-550 have assays pending. The mineralization, while not ore grade in these first few holes are spatially associated with the earlier D2 deformation mineralized event within the Twin Lakes Deposit. The presence of broad gold mineralization within the South Limb Structure indicates a high probability that higher grade gold mineralization exists along the structure. Twin West Target: Drill hole TL-15-546 targeted an induced polarization (IP) anomaly parallel to a historical drill tested and mineralized portion of the TLSZ approximately 2 km west of the Twin Lakes Deposit. The drill hole intersected anomalous gold and tungsten mineralization confirming a parallel mineralized zone. This new mineralized zone is currently untested for approximately 2.5 km of western strike extent, and is target for potential resource growth. This anomaly and multiple other untested anomalies along the TLSZ, SLSZ and located in between these structures indicate further mineralization potential in the immediate vicinity of the Twin Lakes Deposit.

Mega Precious Metals Inc. Presents at Prospectors & Developers Association Conference 2015, Mar-02-2015 03:20 PM

Mega Precious Metals Inc. Presents at Prospectors & Developers Association Conference 2015, Mar-02-2015 03:20 PM. Venue: Toronto, Ontario, Canada. Speakers: Glen Kuntz, Chief Executive Officer, President and Director.


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