RE: RE: RE: RE: Mega Uranium - I would buy 1. https://www.megauranium.com/news_room/index.php?&content_id=418
Project Activity
During the quarter, Mega continued to advance its feasibility studies of the Lake Maitland uranium project in Western Australia. Mega has completed the diamond drilling program and anticipates completing analysis of the results by the end of the second quarter of calendar 2012.
2. https://www.megauranium.com/news_room/2011/index.php?&content_id=385
October 26, 2011
- Commencement of a Diamond Drill Program aiming to increase the Lake Maitland resource tonnes, grade and contained uranium.
TORONTO, Ontario (October 26, 2011) - Mega Uranium Ltd. (TSX:MGA) (“Mega”) is pleased to provide an update on the development of its Lake Maitland Uranium Project (“Project”) in Western Australia.
Mega has commenced a Diamond Drill Program at Lake Maitland which is planned to consist of 200 holes with a total of 1200 meters. Weather permitting, the drilling component of the program is scheduled to be complete by the end of the year.
Figure 1 – Project Deposit and Diamond Drill Program Hole Locations
The results of the disequilibrium study conducted on the Project earlier this year concluded that, overall, positive disequilibrium exists in the Project deposit and that downhole radiometric logging significantly understates the actual uranium grade. Examination of the diamond core assays from the Test Pit Program showed them to be robust, with the analysis of the diamond hole radiometric logging versus the chemical analysis of the core samples indicating that, on average, radiometric logging at Lake Maitland understates the:
- Mineralisation thickness
- Mineralisation volume
- U3O8 grade
The completion of the Diamond Drill Program therefore has the potential to increase the magnitude of the resource as the resource estimation to date has been based mainly on data from downhole radiometric logging.
In addition, the results from density determinations on two diamond cores from the recent Test Pit Program indicate appreciably higher density values than used to date for the resource estimation. The Diamond Drill Program provides an opportunity to collect additional density determinations which have the potential to significantly increase the tonnage estimate for the Lake Maitland resource.