E-mail from Jim Hi Daniel
MB
2 drills will resume drilling in June, targeting higher grade pipes to bring pit deeper, numerous assays pending
Have commenced large assay program on old core that was not assayed between veins, hope to add 300-400k ounces into pit with this program, will use onsite lab for this.
Assessing district targets with prospecting. (I am going in to help out later next week)
We have discovered that the gold mineralization correlates directly with Scheelite (Fluoresces in black light) (Great vector tool!)
District drilling to follow up above targeting process will likely begin in Q3-4/12.
NM
Completing drilling and assay of remaining program by early June, numerous assays pending
Working on our neighbors for consolidation plan.
HW
Reviewing project options and opportunities.
Drilling not likely to resume in the short term.
We have slowed our spend at MB and expect our burn to be <$700k per month with the goal of having $5mm left at year end.
Jennings initiated coverage on us yesterday and we expect 2 others in the next weeks.
Expect to market withJennings and others after all of the coverage reports are out and with news flow from above programs that should start late May / June.
Sorry for the delay in responding.
Thx
Jim
James Rogers P.Geo
President & CEO
Mega Precious Metals Inc.
Office: 807-766-3385
Cell: 807-472-4303
Fax: 807-346-0100