News from ShebandowanMega Uranium Ltd (C-MGA) - News Release
Mega Uranium drills one m of 6.3 g/t Ag, 1.19 g/t Au
2005-12-16 16:48 ET - News Release
Shares issued 32,023,533
MGA Close 2005-12-16 C$ 4.55
Mr. Sheldon Inwentash reports
MEGA URANIUM LTD.: NEW PARALLEL GOLD BEARING STRUCTURE IN HAMLIN-SHEBANDOWAN THUNDER BAY, ONTARIO
Mega Uranium Ltd. has provided an activity update on the Hamlin-Shebandowan property, 100 per cent owned by Mega's Maple Minerals division and East West Resource Corp. (Each hold a 50-per-cent interest.)
Highlights:
* 5.8-metre-wide sericite shear with 1.19 grams per tonne to 0.11 gram per tonne of gold;
* gold zone is 350 metres north of copper-bearing breccia;
* 6:1 silver to gold ratio indicates volcanic origin; and
* further geophysical and site work will be undertaken on this gold find in January during the copper, silver, gold and molybdenum winter drill campaign.
Hole HAM05-37 was drilled to test the western end of a one-kilometre-long induced polarization anomaly in the volcanic rocks 350 metres north of the copper-bearing breccia zone and discovered a shear zone composed of sericite schist and quartz-chert laminated zones containing fine-grained pyrite and minor amounts of green mica. Anomalous silver values were associated with the highly anomalous gold, which ranged from 0.6 gram per tonne to 6.3 grams per tonne silver and the gold ranged from 0.11 g/t to 1.19 g/t gold. This zone was flanked by a pyrite-rich zone containing anomalous arsenic, molybdenum and zinc (1,615 parts per million to 2,680 parts per million zinc). The high silver content 6:1 (Ag:Au) suggests a volcanogenic origin to the mineralization.
The IP anomaly and very low frequency electromagnetic (VLF EM) trend is interpreted to be a shear zone that in part cuts the stratigraphic trends and extends eastward to the east of the Hamlin grid and appears to be an important control structure for gold mineralization. Further drilling is planned along this structure when freezing conditions permit better access in addition to an expanded program to follow the copper-bearing breccia to the east in Hamlin and Deaty Creek.
Ticket From To Int. Ag Au Mo As Zn
No. m m m g/t g/t ppm ppm ppm
748992 143 144 1.00 6.3 1.190 59 8 43
748993 144 145 1.00 4.2 0.470 2 1 76
748994 145 146 1.00 4.3 0.820 12 2 39
748995 146 147 1.00 0.6 0.110 1 5 47
748996 147 148 1.00 2.0 0.300 1 8 36
748997 148 148 0.80 1.5 0.260 2 7 48
Wtd. Avg. 5.8 3.2 .5 13.2 5.1 48.2
Base metal and silver values (copper, silver, molybdenum) were determined by induced coupled plasma (ICP) after an aqua regia acid digestion. Assays exceeding 100 grams silver and 10,000 parts per million copper were repeated using multiacid digestion and atomic absorption (AA). Check assays were run on high values. Preparation of the samples outlined in this news release were carried out by ALS Chemex in Thunder Bay and assaying was carried out by ALS Chemex in North Vancouver.
Gold values were determined by fire assay extraction on 30-gram samples followed by an AA finish.
The project set out above is being supervised by R. Middleton, PEng, who is the qualified person and responsible for quality control of the assaying and reporting. More details are available on SEDAR in Stockwatch.
We seek Safe Harbor.