News releaseMega Uranium Ltd (C-MGA) - News Release
2006-02-27 15:19 ET - News Release
Shares issued 40,602,913
MGA Close 2006-02-24 C$ 5.55
From News Release (C-EWR) East West Resource Corp
Mr. Blake Colvin of East West reports
HAMLIN DRILLING FINDS HIGH GRADE PHASE AND EXTENDS COPPER-GOLD-SILVER-MOLYBDENUM ZONES SHEBANDOWAN CAMP, THUNDER BAY, ONTARIO
East West Resource Corp. (EWR) and Maple Minerals, a division of Mega Uranium Ltd., have drilled at the Hamlin-Shebandowan property. Each holds a 50-per-cent interest in Hamlin-Shebandowan. The highlights are:
* high-grade phase 0.88 per cent copper over 6.1 metres or 1.17 per cent copper equivalent in HAM06-43;
* 89-metre-wide zone of 0.37 per cent copper equivalent in hole HAM06-43;
* including six metres of 0.83 per cent copper equivalent and 11 metres of 0.41 per cent copper equivalent;
* chert marker unit intersected again; and
* 52-metre-wide copper zone in hole HAM05-32, located 250 metres east of HAM06-43.
Hole HAM06-43 drilled in section with hole HAM06-39 (see Stockwatch, Feb. 14, 2006) has located a higher-grade copper zone with individual assays of 2.78 per cent copper over one metre adjacent to 1.49 per cent copper over one metre, giving a 6.1-metre interval of 0.875 per cent copper or 1.17 per cent copper equivalent. This zone is adjacent to a chert magnetite marker seen in hole HAM05-33 and that also yielded copper assays up to 1.55 per cent in HAM05-33 and up to 2.22 per cent in HAM06-39.
An 89-metre zone in HAM06-43 extends from 15 to 104 metres with 0.37 per cent copper equivalent, but contains three distinct zones from 52 to 58 metres (six metres), 64 to 67 metres (11 metres) and 90.9 to 97 metres (6.1 metres).
Highlights from hole HAM06-43:
Ticket From To Length Cu Cu
No. (m) (m) (m) (ppm) (%)
755763 52.00 53.00 1.00 3380 0.338
755764 53.00 54.00 1.00 2130 0.213
755765 54.00 55.00 1.00 2440 0.244
755766 55.00 56.00 1.00 4870 0.487
755767 56.00 57.05 1.05 2410 0.241
755768 57.05 58.00 0.95 2630 0.263
Weighted avg. 6.00 2975 0.297
755776 64.00 65.00 1.00 1805 0.181
755777 65.00 66.00 1.00 5730 0.573
755778 66.00 67.00 1.00 1175 0.118
755779 67.00 68.00 1.00 1400 0.140
755781 68.00 69.00 1.00 1490 0.149
755782 70.00 71.00 1.00 3680 0.368
755783 71.00 72.00 1.00 3560 0.356
755784 72.00 73.00 1.00 1255 0.126
755785 73.00 74.00 1.00 1845 0.185
755786 74.00 75.00 1.00 1715 0.172
755787 75.00 76.00 1.00 3990 0.399
Weighted avg. 11.00 2513 0.251
755805 90.90 92.00 1.10 2240 0.224
755807 92.00 93.00 1.00 5960 0.596
755808 93.00 94.00 1.00 27800 2.780
755809 94.00 95.00 1.00 14900 1.490
755810 95.00 96.00 1.00 1175 0.118
755811 96.00 97.00 1.00 1095 0.110
Weighted avg. 6.10 8753 0.875
Ticket Ag Au Mo Mo Cu
No. (g/t) (g/t) (ppm) (lb/ eqv.
ton) (%)
755763 1.2 0.226 579 1.158 1.394
755764 0.9 0.231 56 0.112 0.398
755765 1.9 0.141 612 1.224 1.327
755766 4.7 0.217 296 0.592 1.088
755767 2.1 0.129 42 0.084 0.371
755768 1.7 0.187 39 0.078 0.408
Weighted
avg. 2.1 0.188 270.7 0.541 0.831
755776 1.7 0.119 46 0.092 0.311
755777 3.4 0.174 59 0.118 0.756
755778 1.0 0.058 43 0.086 0.217
755779 1.1 0.077 82 0.164 0.312
755781 1.3 0.084 36 0.072 0.248
755782 2.7 0.300 69 0.138 0.610
755783 3.0 0.288 35 0.070 0.539
755784 1.0 0.073 30 0.060 0.208
755785 1.4 0.135 59 0.118 0.341
755786 1.6 0.111 70 0.140 0.339
755787 3.0 0.254 90 0.180 0.661
Weighted
avg. 1.9 0.152 56.3 0.113 0.413
755805 1.7 0.135 33 0.066 0.339
755807 6.0 0.393 50 0.100 0.860
755808 18.9 0.583 89 0.178 3.254
755809 10.7 0.659 238 0.476 2.194
755810 0.9 0.090 70 0.140 0.273
755811 0.6 0.095 17 0.034 0.177
Weighted
avg. 6.4 0.323 82.0 0.163 1.169
Copper equivalent is calculated using assumed metal prices of $1.80 (U.S.) per pound copper, $460 (U.S.) per ounce gold, $30.00 (U.S.) per pound molybdenum and $7.00 per ounce silver. It is not adjusted for metallurgical recoveries, as these remain unknown. The formula used is as follows: Cu equivalent (per cent) equals ((copper dollars plus silver dollars plus gold dollars plus molybdenum dollars) divided by 1.8) divided by 22. Five hundred parts per million equals 0.05 per cent equals 1.0 pound per ton.
Hole HAM05-32 completed before Christmas was assayed in several sections over January and yielded 56 metres of 0.52 per cent copper equivalent with zones of five metres of 0.82 per cent copper equivalent (13.5 to 18.5 metres) and seven metres of 0.48 per cent copper equivalent (20.5 to 27.5 metres).
This hole is located on line 7E, 800 metres east of the west end of the trenching (a complete table of assays is shown on the website and is available on SEDAR). This hole not only showed the consistency of the mineralization, but confirmed that the main zone tracks the volcanic contact on the north margin of the breccia and produces continuous grades with similar averages. The known copper zone is now confirmed over an 800-metre length (line 1W to 7E). Further drilling to test continuity is under way to be completed by the end of October.
Base metal and silver values (copper, silver, molybdenum) were determined by induced coupled plasma (ICP) after an aqua regia acid digestion. Gold values were determined by fire assay extraction on 30-gram samples followed by an atomic absorption (AA) finish. Assays exceeding 10,000 parts per million copper were repeated using multiacid digestion and atomic absorption (AA). Check assays were run on high values. Blind standards were inserted approximately every 40 samples. Preparation of the samples outlined in this news release were carried out by ALS Chemex in Thunder Bay, Ont., and assaying was carried out by ALS Chemex in North Vancouver, B.C.
The project set out above is being supervised by R. Middleton, PEng, who is the qualified person and the person responsible for quality control of the assaying and reporting. More details are available on all of East West's properties at the company's website.
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