NewsMega cuts Uranium zone containing Cu, Ag, Au and Mo
Mega Uranium Ltd (TSX-V:MGA)
Shares Issued 32,023,533
Last Close 11/15/2005 $3.40
Wednesday November 16 2005 - News Release
Mr. Sheldon Inwentash reports
LARGE COPPER-SILVER-GOLD-MOLYBDENUM ZONE INTERSECTED - HAMLIN PROPERTY, SHEBANDOWAN CAMP - THUNDER BAY, ONTARIO
Mega Uranium Ltd. is providing an update of the drilling progress on the Hamlin-Shebandowan property, 100-per-cent-owned by Mega's Maple Minerals division and East West Resource Corp. Highlights include:
a new higher-grade multiple zone discovered by drill hole HAM-05-33 on north contact EM target, 1.07 per cent copper to 1.61 per cent copper;
higher-grade core zones identified within the central zone, 2.49 per cent copper over one metre in drill hole HAM-05-29b and 1.43 per cent coppper over one metre in drill hole HAM-05-30;
100-metre-wide disseminated sulphide zone cut by three holes;
800-metre-long zone confirmed by trenches and drilling;
a total of 2,000 metres of mineralization traced by mapping and geophysics;
breccia host rocks over 200 m wide;
several other untested EM targets occur along the strike; and
further assays pending.
Geological details
A large breccia-hosted copper-silver-gold-molybdenum-bearing system has been intersected by the first two cross-section holes HAM-05-29b and HAM-05-30, drilled at minus 45 degrees and minus 60 degrees to depths of 151 m and 176 m (line zero plus 70E), respectively. Both holes collared in disseminated sulphides mineralization with local concentrations of chalcopyrite 0.5 to one metre wide. In hole HAM-05-29b, splitting was initially done on the upper 71-metre section, as well as other sections lower in the hole. Two parts are presented below with a more complete table to follow once infill intervals are completed. In hole HAM-05-30 an 88-metre-wide zone has been split and assayed, with additional splitting of the remaining breccia to follow. Three zones, within the 88 m interval, are presented on the attached table for brevity. A complete table for the 88 m will be posted on SEDAR and the company's website. Both holes, HAM-05-29b and HAM-05-30, identified similar zones, confirming the sulphides extend to depth. A back up hole, HAM-05-36, drilled 50 m behind, HAM-05-29b and HAM-05-30, located another zone of higher sulphide concentration along the north contact with sulphide (pyrite-chalcopyrite) bearing volcanics, which expands the surface expression of mineralization to 100 m. This hole, HAM-05-36, which was just completed, was drilled to test for a new higher-grade contact zone that was originally discovered 430 m to the east in hole HAM-05-33. Assays will be reported, when available, along with additional splits of hole HAM-05-29b and HAM-05-30 to complete Section zero plus 70E.
Hole HAM-05-33 was drilled northward on line five plus 00E, to test copper mineralization in a trench and was continued to a depth of 296 m (977 feet), with continuous disseminated sulphides. Veins and lenses of massive chalcopyrite-pyrite were encountered at 202 to 204 m in a chert zone within a five-metre fragment of volcanics hosted in the breccia. Two other five-metre-wide zones of massive sulphides (218 to 233 m and 235 to 240 m) occur 14 m below the chert within the breccia. Assays for these two zones are presented below and assays for the disseminated zone above will be reported once all the assays are completed. This discovery is associated with an EM conductor that was seen by the helicopter airborne EM survey and Crone ground pulsed EM survey. Other conductors along this contact occur on a 1,600-metre trend to the east from line five plus 00E that will be the subject of future follow-up drilling.
HAM-05-33 north contact zone
Ticket From To Length Cu Cu
No. m m m ppm %
335673 202 203 1 12,900 1.290
335674 203 204 1 5,790 0.579
Wtd. Avg. 2 9,345 0.935
335689 218 219 1 1,940 0.194
335690 219 220 1 14,700 1.470
335691 220 221 1 10,700 1.070
335692 221 222 1 2,950 0.295
335693 222 223 1 13,200 1.320
Wtd. Avg. 5 8,698 0.870
638006 235 236 1 15,500 1.550
638007 236 237 1 3,200 0.320
638008 237 237.7 0.7 4,550 0.455
638009 237.7 238.7 1 16,100 1.610
638010 238.7 240 1.3 2,170 0.217
Wtd. Avg. 5 8,161 0.816
638019 276.5 277 0.5 13,800 1.380
638020 277 277.5 0.5 13,900 1.390
638021 277.5 278 0.5 11,600 1.160
Wtd. Avg. 1.5 13,100 1.31
Mo
pounds
Ticket Cu Ag Au Mo per
No. pounds g/t g/t ppm tonne
335673 28.4 7.29 0.240 113.5 0.250
335674 12.7 3.34 0.420 89.0 0.196
Wtd. Avg. 20.6 5.32 0.330 101.3 0.223
335689 4.3 1.55 0.020 207.0 0.455
335690 32.3 16.90 0.190 152.0 0.334
335691 23.5 7.11 0.070 205.0 0.451
335692 6.5 2.15 0.020 142.0 0.312
335693 29.0 7.16 0.040 225.0 0.495
Wtd. Avg. 19.1 7.00 0.068 186.2 0.410
638006 34.1 9.66 0.160 129.0 0.284
638007 7.0 1.82 0.070 209.0 0.460
638008 10.0 2.61 0.050 151.5 0.333
638009 35.4 11.80 0.310 255.0 0.561
638010 4.8 1.55 0.050 87.5 0.193
Wtd. Avg. 18.0 5.00 0.128 162.6 0.358
638019 30.360 0.45 9.66 108.5 0.239
638020 30.580 0.1 5.79 128.5 0.283
638021 25.520 0.15 5.9 384 0.845
Wtd. Avg. 28.8 0.23 7.12 207.0 0.455
HAM-05-29b central zone
Ticket From To Length Cu Cu
No. m m m ppm %
639151 21.00 22.00 1 2,760 0.276
639152 22.00 23.00 1 5,160 0.516
639153 23.00 24.00 1 1,190 0.119
639154 24.00 25.00 1 4,770 0.477
639155 25.00 26.00 1 3,880 0.388
639156 26.00 27.00 1 1,855 0.186
639157 27.00 28.00 1 942 0.094
639158 28.00 29.00 1 848 0.085
639159 29.00 30.00 1 6,260 0.626
639160 30.00 31.00 1 2,530 0.253
Wtd. Avg. 10 3,020 0.302
639166 46.00 47.00 1 5,040 0.504
639167 47.00 48.00 1 7,050 0.705
639168 48.00 49.00 1 4,830 0.483
639169 49.00 50.00 1 1,320 0.132
639170 50.00 51.00 1 3,410 0.341
639171 51.00 52.00 1 2,480 0.248
639172 52.00 53.00 1 5,940 0.594
639173 53.00 54.00 1 24,900 2.49
639174 54.00 55.00 1 5,080 0.508
639175 55.00 56.00 1 3,000 0.300
639176 56.00 57.00 1 2,270 0.227
639177 57.00 58.00 1 2,450 0.245
639178 58.00 59.00 1 338 0.034
639179 59.00 60.00 1 3,530 0.353
Wtd. Avg. 14 5,117 0.512
Mo
pounds
Ticket Cu Ag Au Mo per
No. pounds g/t g/t ppm tonne
639151 6.1 1 0.140 83.0 0.183
639152 11.4 2 0.150 226.0 0.497
639153 2.6 1 0.250 108.0 0.238
639154 10.5 2 0.240 76.0 0.167
639155 8.5 2 0.200 169.0 0.372
639156 4.1 1 0.080 97.0 0.213
639157 2.1 1 0.060 95.0 0.209
639158 1.9 0 0.030 38.0 0.084
639159 13.8 3 0.100 118.0 0.260
639160 5.6 2 0.110 65.0 0.143
Wtd. Avg. 6.6 1 0.136 107.5 0.237
639166 11.1 3 0.090 350.0 0.770
639167 15.5 5 0.210 384.0 0.845
639168 10.6 3 0.140 190.0 0.418
639169 2.9 1 0.040 75.0 0.165
639170 7.5 2 0.140 301.0 0.662
639171 5.5 1 0.080 92.0 0.202
639172 13.1 3 0.090 212.0 0.466
639173 54.8 17 0.240 349.0 0.768
639174 11.2 3 0.190 94.0 0.207
639175 6.6 2 0.130 108.0 0.238
639176 5.0 1 0.080 101.0 0.222
639177 5.4 2 0.150 90.0 0.198
639178 0.7 0 0.020 39.0 0.086
639179 7.8 2 0.100 76.0 0.167
Wtd. Avg. 11.3 3 0.121 175.8 0.387
HAM-05-30 central zone
Ticket From To Length Cu Cu
No. m m m ppm % Mo
639191 19 20 1 2,780 0.278
639192 20 21 1 3,750 0.375
639193 21 22 1 4,700 0.470
639194 22 23 1 3,830 0.383
639195 23 24 1 3,140 0.314
639196 24 25 1 1,825 0.183
639197 25 26 1 1,980 0.198
639198 26 27 1 966 0.097
639199 27 28 1 1,135 0.114
639200 28 29 1 6,940 0.694
639321 29 30 1 1,825 0.183
639322 30 31 1 2,940 0.294
Wtd. Avg. 12 2,984 0.298
Mo
pounds
Ticket Cu Ag Au Mo per
No. pounds g/t g/t ppm tonne
639191 6.1 2 0.120 130.0 0.286
639192 8.3 2 0.140 116.0 0.255
639193 10.3 2 0.200 162.0 0.356
639194 8.4 2 0.340 106.0 0.233
639195 6.9 2 0.100 146.0 0.321
639196 4.0 1 0.070 96.0 0.211
639197 4.4 1 0.080 79.0 0.174
639198 2.1 0 0.040 74.0 0.163
639199 2.5 1 0.040 60.0 0.132
639200 15.3 3 0.290 122.0 0.268
639321 4.0 1 0.110 57.0 0.125
639322 6.5 2 0.120 85.0 0.187
Wtd. Avg.6.6 2 0.138 102.8 0.226
HAM-05-30 central zone
Ticket From To Length Cu Cu
No. m m m ppm %
639261 45 46 1 1,825 0.183
639262 46 47 1 1,870 0.187
639263 47 48 1 2,440 0.244
639264 48 49 1 2,660 0.266
639265 49 50 1 3,490 0.349
639266 50 51 1 1,995 0.200
639267 51 52 1 1,045 0.105
639268 52 53 1 4,690 0.469
639269 53 54 1 14,300 1.430
639270 54 55 1 1,255 0.126
Wtd. Avg. 10 3,557 0.356
Mo
pounds
Ticket Cu Ag Au Mo per
No. pounds g/t g/t ppm tonne
639261 4.0 1 0.090 97.0 0.213
639262 4.1 1 0.090 113.0 0.249
639263 5.4 2 0.120 84.0 0.185
639264 5.9 2 0.110 87.0 0.191
639265 7.7 2 0.110 124.0 0.273
639266 4.4 1 0.070 105.0 0.231
639267 2.3 1 0.030 50.0 0.110
639268 10.3 3 0.100 73.0 0.161
639269 31.5 8 0.440 208.0 0.458
639270 2.8 1 0.040 58.0 0.128
Wtd. Avg.7.8 2 0.120 99.9 0.220
HAM-05-30 central zone
Ticket From To Length Cu Cu
No. m m m ppm %
639277 61 62 1 5,160 0.516
639278 62 63 1 8,860 0.886
639279 63 64 1 2,040 0.204
639280 64 65 1 3,270 0.327
639281 65 66 1 3,180 0.318
639282 66 67 1 930 0.093
639283 67 68 1 1,350 0.135
639284 68 69 1 2,170 0.217
639285 69 70 1 1,195 0.120
639286 70 71 1 1,350 0.135
639287 71 72 1 3,620 0.362
639288 72 73 1 2,330 0.233
639289 73 74 1 3,720 0.372
639290 74 75 1 3,750 0.375
639291 75 76 1 4,070 0.407
639292 76 77 1 5,150 0.515
Wtd. Avg. 16 3,259 0.326
Mo
pounds
Ticket Cu Ag Au Mo per
No. pounds g/t g/t ppm tonne
639277 11.4 3 0.220 196.0 0.431
639278 19.5 4 0.210 454.0 0.999
639279 4.5 1 0.070 126.0 0.277
639280 7.2 2 0.120 195.0 0.429
639281 7.0 2 0.100 110.0 0.242
639282 2.0 1 0.030 86.0 0.189
639283 3.0 1 0.040 57.0 0.125
639284 4.8 2 0.070 84.0 0.185
639285 2.6 1 0.030 138.0 0.304
639286 3.0 1 0.030 147.0 0.323
639287 8.0 3 0.090 280.0 0.616
639288 5.1 2 0.080 305.0 0.671
639289 8.2 3 0.090 239.0 0.526
639290 8.3 3 0.110 148.0 0.326
639291 9.0 4 0.120 529.0 1.164
639292 11.3 5 0.170 262.0 0.576
Wtd. Avg. 7.2 2 0.099 209.8 0.461
Five hundred parts per million is equal 0.5 per cent, which is equal to 1.1 pounds per tonne.
The molybdenum content of the zone potentially is as important as the copper in terms of value credit. Silver correlates with copper values, as originally seen in trench results reported in Stockwatch on Oct. 18, 2005. Gold values also correlate with copper, but are very elevated when high concentrations of copper occur (see trench results Oct. 18, 2005).
The majority of breccia fragments are altered pink rhyolite-quartz-eye rhyolite (with occasional blue quartz-eyes), reddish-brown altered volcanic and epidote altered diorite clasts forming the remaining clasts. Chert clasts also occur containing sulphides. Magnetite is associated with the copper in most cases, along with black-green chlorite. It can still be argued that a VMS-style system occurred in the volcanics and was intruded by an alkali porphyry system to generate this unique extensive breccia. It can also be argued that a form of IOCG (iron-oxide-coppper-gold) deposit has formed.
Assays for other holes will be reported as they are completed, however additional splitting will be done to help determine the extent of values beyond the zones that have been initially identified by visual examination.
Basemetal and silver values (coppper, silver and molybdenum) were determined by ICP-induced coupled plasma, 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 and assaying of the samples outlined in this news release were carried out by ALS Chemex in Thunder Bay.
Gold values were determined by fire assay extraction on 30-gram samples followed by an AA finish.