Mega Uranium Ltd.: Wide Copper-Gold-Silver-Molybdenum Zones Establish Continuity at Hamlin Deposit, Shebandowan, Thunder Bay, Ontario.TORONTO -- Mega Uranium Ltd. (TSX VENTURE:MGA) - - 44.8 m intercept 0.32% copper in HAM06-41 or 0.55% copper equivalent - 55.6 m intercept 0.28% copper in HAM06-56, or 0.50% copper equivalent - Continuity of mineralization confirmed within 800m strike length - Iron Oxide Copper Gold (IOCG IOCG - International Organization for Crystal Growth) affinity becoming apparent - High grade narrow sections of 1.78% copper in HAM06-41 and 3.21%, 2.1%, 2.92%, 1.48% copper in HAM06-56 over 0.5 - 1.0 m, similar to surface showing Mega Uranium Ltd. ("Mega") (TSX VENTURE:MGA) (through its Maple Minerals division) and East West Resource Corporation (TSX VENTURE:EWR) are pleased to report the results of two additional holes from its 50/50 jointly-owned Hamlin-Shebandowan property. The Hamlin copper bearing breccia zone was cross-sectioned on 1+50E with two drill holes (HAM06-41 and 06-56) that confirmed the continuity of mineralization across substantial widths of 44.7 - 56 m. Mineralization continues beyond these selected intervals. Despite localised zones running higher grade, the overall average copper grades remain fairly consistent in the drill holes assayed so far along an 800 m strike length. As a test, a 17 m section of hole HAM06-41 for example contains 0.30% copper (0.56% copper equivalent), which is the same as the overall average value over the 44.8 m interval. Drilling continues on the east side of the property where other IP (Induced Polarization) and magnetic anomalies are being tested. Evidence is building from both the Hamlin core and Deaty Creek that an iron oxide copper-gold (IOCG) type system may be present. Increasing amounts of magnetite are seen in the cores from the eastern part of Hamlin and particularly in the adjoining Deaty Creek property. Magnetite, epidote, chlorite and pyrite is associated with the copper mineralization. The breccia is pink coloured due mainly to hematization. Bright red hematite veinlets of 1 - 2 cm cut all of the fragment types including the magnetite suggesting a late stage iron oxide alteration has also occurred. Molybdenite molybdenite (məlĭb`dənīt, mō–), a mineral, molybdenum disulfide, MoS2, blue-gray in color, with a metallic luster and greasy feel. It occurs in crystals of the hexagonal system but more commonly in scales, grains, or foliated or massive form. occurs as a late stage event on slip planes and fractures and quartz veins. Gold and silver values correlate with copper mineralization. Fragments mainly consist of felsic volcanics with minor mafic ones, but intrusive rocks such as gabbro-diorite in the footwall are also brecciated and altered. This setting appears to be similar to geology seen at the Cloncurry deposit in Australia where large low-grade copper-gold bearing breccias are mined. HAM06-41 Ticket # From (m) To (m) Length (m) Cu (ppm) Cu (%) ---------------------------------------------------------- ---------------------------------------------------------- 756157 116.30 117.30 1.00 1895 0.190 756159 117.30 118.30 1.00 2840 0.284 756160 118.30 119.30 1.00 2190 0.219 756161 119.30 120.00 0.70 3630 0.363 756162 120.00 121.00 1.00 1185 0.119 756163 121.00 122.00 1.00 2080 0.208 756164 122.00 123.00 1.00 5530 0.553 756165 123.00 124.00 1.00 3750 0.375 756166 124.00 125.00 1.00 1095 0.110 756167 125.00 126.00 1.00 1800 0.180 756168 126.00 127.00 1.00 1040 0.104 756169 127.00 128.00 1.00 5730 0.573 756170 128.00 129.00 1.00 651 0.065 756171 129.00 130.00 1.00 3980 0.398 756172 130.00 131.00 1.00 1395 0.140 756173 131.00 132.00 1.00 1385 0.139 756174 132.00 133.00 1.00 6350 0.635 756175 133.00 134.00 1.00 4310 0.431 756176 134.00 135.00 1.00 1275 0.128 756177 135.00 136.00 1.00 4150 0.415 756178 136.00 137.00 1.00 2300 0.230 756179 137.00 138.00 1.00 2610 0.261 756180 138.00 139.00 1.00 2710 0.271 756181 139.00 140.00 1.00 4890 0.489 756182 140.00 141.00 1.00 3300 0.330 756183 141.00 142.00 1.00 2470 0.247 756184 142.00 143.00 1.00 2430 0.243 756185 143.00 144.00 1.00 1250 0.125 756186 144.00 145.00 1.00 2810 0.281 756187 145.00 146.00 1.00 3790 0.379 756188 146.00 147.00 1.00 964 0.096 756189 147.00 148.00 1.00 2510 0.251 756190 148.00 149.00 1.00 17800 1.780 756191 149.00 150.00 1.00 3660 0.366 756192 150.00 151.00 1.00 5320 0.532 756193 151.00 152.00 1.00 2150 0.215 756194 152.00 153.00 1.00 7750 0.775 756195 153.00 154.00 1.00 1600 0.160 756196 154.00 155.00 1.00 3530 0.353 756197 155.00 156.00 1.00 3080 0.308 756198 156.00 157.00 1.00 473 0.047 756199 157.00 158.00 1.00 3400 0.340 756200 158.00 159.00 1.00 2220 0.222 755201 159.00 160.00 1.00 1845 0.185 755202 160.00 161.05 1.05 2280 0.228 Wtd. Avg. 44.75 3183 0.318 HAM06-41 (continued) Ticket # Ag (g/tonne) Au (g/tonne) Mo (ppm) Mo (lbs/ton) Cu Eqv. (%) --------------------------------------------------------------------- --------------------------------------------------------------------- 756157 1.6 0.072 48 0.096 0.305 756159 2.1 0.102 55 0.110 0.426 756160 1.6 0.077 44 0.088 0.330 756161 2.4 0.115 103 0.206 0.591 756162 0.7 0.034 40 0.080 0.202 756163 1.0 0.071 111 0.222 0.425 756164 2.6 0.188 96 0.192 0.798 756165 2.0 0.085 99 0.198 0.583 756166 0.7 0.036 47 0.094 0.205 756167 1.0 0.050 83 0.166 0.343 756168 0.8 0.026 59 0.118 0.217 756169 3.1 0.497 134 0.268 1.000 756170 0.4 0.016 100 0.200 0.240 756171 2.1 0.081 87 0.174 0.585 756172 1.1 0.039 120 0.240 0.360 756173 1.0 0.041 113 0.226 0.348 756174 4.2 0.134 317 0.634 1.237 756175 2.7 0.111 116 0.232 0.681 756176 0.9 0.036 48 0.096 0.226 756177 2.7 0.092 245 0.490 0.873 756178 1.5 0.060 97 0.194 0.423 756179 1.7 0.065 127 0.254 0.507 756180 2.3 0.075 54 0.108 0.402 756181 5.2 0.185 110 0.220 0.771 756182 2.2 0.142 95 0.190 0.554 756183 1.8 0.088 34 0.068 0.347 756184 1.5 0.069 139 0.278 0.509 756185 0.7 0.042 106 0.212 0.321 756186 1.7 0.079 189 0.378 0.635 756187 2.2 0.092 150 0.300 0.676 756188 0.6 0.029 29 0.058 0.159 756189 1.2 0.072 52 0.104 0.371 756190 7.0 0.397 98 0.196 2.131 756191 2.3 0.104 74 0.148 0.541 756192 3.4 0.114 155 0.310 0.852 756193 1.2 0.064 121 0.242 0.447 756194 2.2 0.272 252 0.504 1.309 756195 1.2 0.066 152 0.304 0.445 756196 2.0 0.115 140 0.280 0.641 756197 1.9 0.100 282 0.564 0.826 756198 0.0 0.038 20 0.040 0.095 756199 0.6 0.135 105 0.210 0.569 756200 0.5 0.056 88 0.176 0.392 755201 0.4 0.032 79 0.158 0.330 755202 0.5 0.090 115 0.230 0.456 Wtd. Avg. 1.8 0.100 109.6 0.220 0.548 HAM06-56 Ticket # From (m) To (m) Length (m) Cu (ppm) Cu (%) ---------------------------------------------------------- ---------------------------------------------------------- 761766 57.05 58.20 1.15 3510 0.351 761767 58.20 58.65 0.45 21000 2.100 761768 58.65 59.65 1.00 2000 0.200 761769 59.65 60.65 1.00 3410 0.341 761770 60.65 61.30 0.65 4810 0.481 761771 61.30 62.10 0.80 9840 0.984 761772 62.10 63.00 0.90 741 0.074 761773 63.00 64.00 1.00 2390 0.239 761774 64.00 65.00 1.00 326 0.033 761775 65.00 66.00 1.00 1840 0.184 761776 66.00 67.00 1.00 1140 0.114 761777 67.00 68.00 1.00 824 0.082 761778 68.00 69.00 1.00 1165 0.117 761779 69.00 70.00 1.00 1700 0.170 761780 70.00 71.00 1.00 1790 0.179 761781 71.00 72.00 1.00 3120 0.312 761782 72.00 73.00 1.00 1510 0.151 761783 73.00 74.00 1.00 3770 0.377 761784 74.00 75.00 1.00 3050 0.305 761785 75.00 76.00 1.00 198 0.020 761786 76.00 77.00 1.00 259 0.026 761787 77.00 78.00 1.00 692 0.069 761788 78.00 79.00 1.00 1285 0.129 761789 79.00 80.00 1.00 1215 0.122 761790 80.00 81.00 1.00 3050 0.305 761792 81.00 81.50 0.50 1040 0.104 761793 81.50 82.00 0.50 8290 0.829 761794 82.00 83.00 1.00 6350 0.635 761795 83.00 84.00 1.00 4020 0.402 761796 84.00 85.00 1.00 1930 0.193 761797 85.00 86.00 1.00 1920 0.192 761798 86.00 87.00 1.00 3530 0.353 761799 87.00 87.95 0.95 2140 0.214 761800 87.95 88.70 0.75 952 0.095 761801 88.70 89.20 0.50 32100 3.210 761802 89.20 90.20 1.00 249 0.025 761803 90.20 90.95 0.75 3860 0.386 761804 90.95 92.00 1.05 1460 0.146 761805 92.00 93.00 1.00 1850 0.185 761806 93.00 94.00 1.00 1215 0.122 761807 94.00 95.00 1.00 992 0.099 761808 95.00 96.00 1.00 166 0.017 761809 96.00 96.80 0.80 1290 0.129 761810 96.80 97.30 0.50 2090 0.209 761811 97.30 98.30 1.00 1855 0.186 761812 98.30 99.30 1.00 1405 0.141 761813 99.30 100.20 0.90 1160 0.116 761814 100.20 101.15 0.95 404 0.040 761815 101.15 102.00 0.85 913 0.091 761816 102.00 102.80 0.80 1380 0.138 761817 102.80 103.05 0.25 4500 0.450 761818 103.05 104.00 0.95 621 0.062 761819 104.00 105.00 1.00 460 0.046 761820 105.00 106.00 1.00 637 0.064 761821 106.00 107.00 1.00 1020 0.102 761822 107.00 107.50 0.50 14800 1.480 761823 107.50 108.00 0.50 4300 0.430 761824 108.00 109.00 1.00 2710 0.271 761825 109.00 110.10 1.10 860 0.086 761826 110.10 110.60 0.50 29200 2.920 761827 110.60 111.60 1.00 662 0.066 761828 111.60 112.60 1.00 2930 0.293 Wtd. Avg. 55.55 2770 0.277 HAM06-56 (continued) Ticket # Ag (g/tonne) Au (g/tonne) Mo (ppm) Mo (lbs/ton) Cu Eqv. (%) --------------------------------------------------------------------- --------------------------------------------------------------------- 761766 2.1 0.184 97 0.194 0.593 761767 11.4 0.611 92 0.184 2.546 761768 1.3 0.077 101 0.202 0.404 761769 2.8 0.147 160 0.320 0.678 761770 4.3 0.286 221 0.442 0.981 761771 9.6 0.537 116 0.232 1.432 761772 0.7 0.035 94 0.188 0.248 761773 2.6 0.226 115 0.230 0.530 761774 0.4 0.017 108 0.216 0.221 761775 1.3 0.187 71 0.142 0.380 761776 1.1 0.068 68 0.136 0.259 761777 0.6 0.036 82 0.164 0.236 761778 1.4 0.121 78 0.156 0.300 761779 1 0.08 100 0.200 0.372 761780 1.2 0.098 119 0.238 0.421 761781 2 0.154 110 0.220 0.564 761782 1.2 0.104 105 0.210 0.372 761783 2.3 0.203 182 0.364 0.769 761784 1.7 0.169 142 0.284 0.614 761785 0 0.014 116 0.232 0.218 761786 0.3 0.017 120 0.240 0.234 761787 0.7 0.077 120 0.240 0.302 761788 2.6 0.098 154 0.308 0.437 761789 1.1 0.111 97 0.194 0.331 761790 1.8 0.169 89 0.178 0.527 761792 0.6 0.063 65 0.130 0.239 761793 4.7 0.294 140 0.280 1.199 761794 4.4 0.402 106 0.212 0.987 761795 2.6 0.176 96 0.192 0.643 761796 1.5 0.086 95 0.190 0.392 761797 1.5 0.09 85 0.170 0.376 761798 2.8 0.136 113 0.226 0.608 761799 1.8 0.092 102 0.204 0.429 761800 1 0.111 113 0.226 0.331 761801 26.7 0.672 198 0.396 3.943 761802 0.3 0.013 84 0.168 0.171 761803 8.6 0.759 83 0.166 0.857 761804 1.7 0.07 100 0.200 0.348 761805 1.6 0.063 71 0.142 0.336 761806 0.9 0.035 49 0.098 0.221 761807 0.6 0.039 120 0.240 0.317 761808 0 0.006 45 0.090 0.094 761809 2 0.041 86 0.172 0.299 761810 3 0.255 94 0.188 0.478 761811 1.6 0.076 66 0.132 0.333 761812 1.4 0.06 93 0.186 0.326 761813 1.2 0.059 94 0.188 0.302 761814 0.4 0.016 64 0.128 0.155 761815 1 0.03 67 0.134 0.220 761816 1.3 0.049 26 0.052 0.207 761817 9.1 0.155 21 0.042 0.595 761818 0.7 0.028 80 0.160 0.210 761819 0.4 0.015 88 0.176 0.201 761820 0.7 0.028 39 0.078 0.143 761821 0.7 0.045 44 0.088 0.196 761822 7.7 0.28 106 0.212 1.805 761823 4.6 0.156 132 0.264 0.734 761824 2.5 0.097 118 0.236 0.518 761825 1.1 0.046 113 0.226 0.298 761826 21.5 0.828 148 0.296 3.598 761827 0.5 0.128 84 0.168 0.257 761828 2.7 0.117 63 0.126 0.457 Wtd. Avg. 2.3 0.131 98.3 0.221 0.503 Copper equivalent is calculated using assumed metal prices of US $1.80/lb Cu, US $460/oz Au, US $30.00/lb Mo, and US $7.00/oz Ag, and is not adjusted for metallurgical recoveries, as these remain unknown. The formula used is as follows: Cu Eqv. (%) equals ((Cu$+Ag$+Au$+Mo$)/1.8)/22. (500 ppm equals 0.05 % equals 1.0 lbs/ton) Basemetal and silver values (Copper, Silver, Molybdenum) were determined by ICP induced coupled plasma) 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 multi acid digestion and 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 and assaying was carried out by ALS Chemex in North Vancouver. Diamond Drill Core will be on display at the PDAC PDAC - Power Dynamics Awareness Committee (Pomona College) PDAC - Prospectors and Developers Association of Canada (Prospectors and Developers Association of Canada) Conference at the Toronto Convention Centre March 5th and 6th.The project set out above is being supervised by R. Middleton, P.Eng. who is the qualified person and who is responsible for quality control of the assaying and reporting. The project set out above is being supervised by R. Middleton, P.Eng. of East West Resource Corporation who is the Qualified Person and the person responsible for quality control of the assaying and reporting. Mega Uranium Ltd. is a Toronto-based mineral resources company with a focus on uranium properties in Australia, Argentina, Mongolia and Canada. Through Mega's Maple Minerals division, Mega and its partners are exploring other base-metal properties in Northern Ontario and Africa. Further information on Mega can be found on the company's website at www.megauranium.com This news release contains forward-looking statements within the meaning of the "safe harbour" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties and other factors that may cause Mega's results to differ materially from expectations. These include risks relating to market fluctuations, property performance and other risks. These forward-looking statements speak only as of the date hereof. Mega Uranium disclaims any intent or obligation to update these forward-looking statements and cautions investors from placing undue reliance on forward-looking statements. Mega does have an ongoing obligation to disclose material information as it becomes available. THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESP ONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE. Mega Uranium Ltd. (TSX VENTURE:MGA) |
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