Mega Precious Metals Files NI 43-101 Report for North Madsen

Mega Precious Metals Inc. (TSXV:MGP) announced that it has filed a NI 43-101 technical report for the gold resources at its Ontario-based North Madsen project.

The company notes that there is no material difference between today’s report and the disclosure provided in a news release put out on February 13, 2014.

Highlights include:

  • Surface/near surface (<250m from surface) Measured and Indicated Resources of 0.9 M Ounces of Gold at 1.2 g/t Au
  • Surface/near surface Inferred Resources of 0.38 M Ounces of Gold
  • All resources are open along strike and at depth
  • 91-95% Metallurgical Recoveries
  • Over 40,000 meters in 327 drill holes were incorporated into the geological model and includes over 25 new holes totaling 8,200 m of drilling since the previous resource update
  • Improved confidence in the deposit with 70% of the resource in the Measured and Indicated categories
  • Robust resource using a gold price of USD $1200 USD per ounce ($200 less than previous resource)
  • Approximately 7 kms trucking distance from Madsen Mine Mill being acquired by Laurentian Goldfields Ltd. and Goldcorp Inc.’s Red Lake Mill

Click here to read the full Mega Precious Metals Inc. (TSXV:MGP) press release.