Mega Precious Metals Inc.
Mega Precious Metals Inc. is a Canadian mining company, engages in the acquisition, exploration, and development of precious metal properties in Canada.
The company primarily explores for gold, silver, copper, and molybdenum deposits.
It owns interests in Headway Property, North Madsen Properties, and Satterly Property in Red Lake, Ontario; Blue Caribou Property, Kitikmeot Region, Nunavut; and Domain Project and Monument Bay Project in Manitoba.
The company was formerly known as Mega Silver Inc. and changed its name to Mega Precious Metals Inc. in September 2009.
Mega Precious Metals Inc. is based in Thunder Bay, Canada.
The Headway property is located between the towns of Red Lake and Balmertown, Ontario, 2 km southwest of the High Grade Zone, in the shadow of Goldcorp’s Red Lake Gold Mines Headframes.
Mega Precious Metals has entered into a Definitive Acquisition Agreement to acquire a 100% interest in the Headway property in the Red Lake, Ontario area from King's Bay Gold Corporation.
The property consists of six patented claims and one unpatented claim units totaling approximately 320 acres.
The property appears to have all of the essential geological elements including a well-developed intersection pattern of stratigraphic, shear / deformation zones that are associated with the high grade gold system on the adjacent mine properties.
The Bonanza Replacement High Grade Zone is postulated to be hosted in Balmer age rocks occurring below the unconformity with the Confederation age rocks at 1,500 to 2500 metres deep.
The range of diamond drill intercepts carried out under NI-43101 compliant guidelines by King’s Bay in 2005 include 63.52 grams/tonne over 0.5 metres and 3.08 grams/tonne over 10.8 metres. Highlights of historical, none NI-43101 compliant exploration includes 0.61 oz/ton gold over 3.08 feet in drill core and several surface grab samples exceeding 1.0 oz/ton gold.
The Domain project is located in northern Manitoba It is located 15 kilometers east of the community of Oxford House. It totals 14,000 hectares situated in the Gods Lake greenstone belt.
The Domain Project is a joint venture with New Dimension Resources, with Mega retaining a 65% interest.
The property is host to several steeply dipping, northwest trending gold-bearing structures up to 3.5 kilometres long and at least 100 meters in down-dip extension. Since 2006, three drill programs have been completed which have produced very encouraging results.
The drill program completed in November 2008 was highly successful in confirming continuity of gold mineralization within the B Zone and extending its strike length by 150 metres to the northwest.
The B Zone has now been defined over a strike length of 850 metres and remains open along strike and down dip.
Mega Precious Metals Inc.
401 - 1113 Jade Court
Thunder Bay, Ontario
Canada P7B 6M7
Tel: (807) 766-3380
Toll Free: (877) 592-3380
Fax: (807) 346-0100