Mega Precious Metals Inc. (fka MPRXF)

[AIM120]

Thanks for the reply. I just moved to Japan so the 13 hour time difference makes it difficult to pick up the phone and call my broker these days. I figured that it would take some time for the share swap to post in my brokerage account but I was hoping to find out what other folks on this board were experiencing.

[Renee]

Check with your Broker, AIM120. Your shares were acquired in conjunction with the company being acquired, so it may take a day or two but your shares should be OK.

[AIM120]

So what happens to our shares?

My assumption was that they would convert to Yamana shares but it has 't registered on my brokerage account yet.

[Renee]

MPRXF: Yamana Gold Inc. has acquired all of the outstanding shares of the company.

Finra deleted symbol:

http://otce.finra.org/DLDeletions

[souwester]

MPRXF take over by Yamana Gold

Mega Precious to be Acquired by Yamana Gold
V.MGP | 2 hours ago

Read more at http://www.stockhouse.com/news/press-releases/2015/04/24/mega-precious-to-be-acquired-by-yamana-gold#CWjCEOBmFCXrEvKD.99
THUNDER BAY, ONTARIO--(Marketwired - April 24, 2015) - Mega Precious Metals Inc. (TSX VENTURE:MGP) ("Mega" or the "Company") is pleased to announce that it has entered into a definitive agreement (the "Agreement") with Yamana Gold Inc. (TSX:YRI)(NYSE:AUY) ("Yamana"), whereby Yamana will acquire all of the outstanding shares of Mega under a plan of arrangement for consideration of 0.02092 of a Yamana share and cash of C$0.001 per Mega share, equivalent to C$0.10 per Mega share, based on the closing price of Yamana shares on the TSX on April 23, 2015. The total consideration to Mega shareholders is approximately C$17.5 million, based on the Company's issued current and outstanding shares. Yamana has also agreed to purchase the outstanding convertible debentures held by Pacific Road Capital Resources Funds.

Mega's board of directors has unanimously approved the transaction and recommends that Mega shareholders vote in favour of the arrangement. All of the directors and officers of Mega, as well as certain shareholders who collectively own approximately 22% of Mega's issued and outstanding shares, have entered into support agreements with Yamana pursuant to which they have agreed, among other things, to support the transaction and vote their Mega shares in favour of the arrangement. Paradigm Capital Inc. has provided an opinion to Mega's board that the consideration is fair, from a financial point of view, to Mega shareholders.

Benefits to Mega Shareholders:

Based on April 23, 2015 closing prices, the Yamana shares offered for each Mega share represents consideration of C$0.10 per share, representing a premium that Mega management and directors believe is fair to its shareholders in the context of the current market environment;
Yamana is a high-quality, low-cost gold producer with a diversified, long-life production base, and its shares represent good value and offer significant upside potential;
Mega shareholders will be provided material increase in share trading liquidity, and participation in immediate gold production through Yamana shares; and
Yamana has the resources and technical expertise to advance Monument Bay along with its many Regional Exploration targets and the Company's other projects with a view that they may become valued additions to its Canadian portfolio.
The acquisition represents a material progression in the advancement of Monument Bay from a grass roots exploration project when Mega began to explore the project in early 2011. Mega's Chairman, Mario Stifano summarizes the board's view as follows, "We are very proud of the work that the entire Mega team has done on Monument Bay over the past 4 years. The Monument Bay Project has grown into what we consider to be one of the best development assets in the industry and we are proud to be part of this story. Our team has assembled a 338km2 camp-sized land position, advanced the project to its current multi-million ounce resource, formulated a regional geological and targeting model, including the realization of a potential tungsten by-product and importantly, we have developed a positive and respectful relationship with the Red Sucker Lake First Nation. The acquisition by Yamana allows the work done on Monument Bay to continue unabated to the benefit of all stakeholders."

Glen Kuntz, Mega's CEO is keen for Yamana to continue the work on the project, stating, "My experience in dealing with Yamana's management and technical team is that they are world-class and committed to growing the Monument Bay Project along with the rest of their portfolio in Canada. This acquisition not only validates the project and its value, but also the opportunity to our shareholders to participate in the future success with one of the industry's most respected gold producers. The work Mega's team has done on Monument Bay has been remarkable, we have not only grown the initial small underground resource into a multi-million ounce resource, but also discovered multiple new deposits and structures. We believe this transaction is an excellent outcome for Mega shareholders as it provides a significant premium recognizing the value embedded in our projects. We look forward to joining their team and continuing the work we have successfully started."

"The acquisition of Mega Precious Metals advances Yamana's strategy to expand our presence in Canada, which we established last year with the joint acquisition of Canadian Malartic and a portfolio of exploration properties in Quebec and Ontario", said William Wulftange, Senior Vice President, Exploration for Yamana Gold. Yamana's exploration program has contributed to unlocking value within our portfolio through consistently finding high quality ounces at our properties and we are looking forward to applying our experience and expertise at Monument Bay. The significant existing mineral resource base at Mega's Monument Bay and North Madsen Projects in particular provide an opportunity for further exploration to meaningfully increase the potential of these assets. "With the addition of Monument Bay in particular, we look forward to continuing the positive relations that have been established with the First Nations population and other stakeholders in the region, including the Government of Manitoba."

Transaction Details:

Full details of the transaction will be set out in Mega's information circular that it will prepare in respect of the meeting of shareholders to approve the transaction. Mega intends to mail the information circular in mid-to-late May 2015. The transaction is expected to close in late June of 2015, subject to the satisfaction of certain conditions, including court and shareholder approval, and Yamana's satisfactory completion of its title, environmental, tax and litigation due diligence on or prior to May 15, 2015.

Pursuant to the arrangement, Mega is subject to customary non-solicitation covenants. In the event a superior proposal is made to Mega, Yamana has a 5 business-day right to match such a proposal. Under certain circumstances where the transaction is not completed, Mega has agreed to pay a termination fee of C$700,000 to Yamana. Yamana has agreed to a C$500,000 placement in Mega if the transaction is terminated in certain circumstances. The transaction is subject to approval by Mega shareholders, court approval and other customary conditions. Mega has engaged Paradigm Capital Inc. as its financial advisor and Bennett Jones LLP as its legal advisor in connection with the transaction. Copies of the transaction agreement, support agreements, management information circular and certain related documents will be filed with securities regulators and will be available on SEDAR at www.sedar.com.

Mega Precious Metals Inc. is a leading Canadian-based exploration company with a high quality pipeline of projects located in the mining friendly jurisdictions of Manitoba, Northwestern Ontario and Nunavut. The Company's significant portfolio includes the flagship Monument Bay Gold Tungsten Project in NE Manitoba as well as the N. Madsen Gold Project in the prolific gold mining district of Red Lake, Ontario. Mega has established a record of delivering rapid growth through their focused and low cost approach to exploration and resource development. The Company's common shares trade on the TSX Venture Exchange under the symbol MGP.

For further information and presentation material, please review the Mega website at www.megapmi.com.

Forward-looking Statements

Certain statements in this press release relating to the anticipated timing for the mailing of an information circular and the closing of the transaction, the Company's exploration activities, project expenditures and business plans are "forward-looking statements" within the meaning of securities legislation. The Company does not intend, and does not assume any obligation, to update these forward-looking statements. These forward-looking statements represent management's best judgment based on current facts and assumptions that management considers reasonable, including, but not limited to, expectations and assumptions that the transaction will close on the terms and time expectes, all regulatory approvals and other condtions will be received or satisfied for closing the transaction. The Company makes no representation that reasonable business people in possession of the same information would reach the same conclusions. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. In particular, fluctuations in the price of gold or in currency markets could prevent the Company from achieving its targets. Readers should not place undue reliance on forward-looking statements. More information about risks and uncertainties affecting the Company and its business is available in Mega Precious Metal's filings which are posted on sedar at www.sedar.com.

There is no guarantee that drill results reported in this news release will lead to the identification of a deposit that can be mined economically, and further work is required to identify a reserve or resource.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Mega Precious Metals Inc.
Glen Kuntz, P.Geo.
President, Chief Executive Officer & Director
O: 807-766-3380 or TF: 877-592-3380
Email: [e-mail]
Website: www.megapmi.com
image: http://at.marketwire.com/accesstracking/AccessTrackingLogServlet?docid=1003560001&sourceType=1


Marketwired (Canada)
April 24, 2015 - 6:46 AM EDT

Read more at http://www.stockhouse.com/news/press-releases/2015/04/24/mega-precious-to-be-acquired-by-yamana-gold#CWjCEOBmFCXrEvKD.99

[souwester]

MPRXF - Northern Miner article

http://www.northernminer.com/news/mega-precious-hunts-regional-targets-at-monument-bay/1003582792/

[bigone]

Thanks for sharing. Sounds like more good news to me.

[souwester]

MPRXF - News Release

Mega Increases High Grade Gold and Tungsten Mineralization Within the Monument Bay Proposed Open Pit

Read more at http://www.stockhouse.com/news/press-releases/2015/04/07/mega-increases-high-grade-gold-and-tungsten-mineralization-within-the-monument#HgzdZrpUVwFOWYDO.99
April 7, 2015 - 9:22 AM EDT

THUNDER BAY, ONTARIO--(Marketwired - April 7, 2015) - Mega Precious Metals Inc. (TSX VENTURE:MGP) ("Mega") is pleased to announce further Old Core Assay Program ("OCAP") results which continue to define multiple parallel high grade gold and tungsten mineralization located within the proposed open pit at the Monument Bay Project, located in Manitoba.

Since the August 12, 2014 cut-off date of the NI 43-101 resource statement, the OCAP program has sampled over 50% more tungsten samples above a cutoff grade of 0.13% WO3 (approximately 1.33 g/t Au Equivalent) and over 40% more samples greater than 0.63% (approximately 6.64 g/t Au Equivalent) in the database.

Consequently, these results have not been included in the current estimate and are indicative of how the tungsten resource will grow. As a point of reference, current Tungsten open pit mines have operational grades between 0.1 - 0.2% WO3. (See Figure 1)
OCAP intercepts include broad intervals of continuous gold mineralization that host high grade gold and tungsten:
• SR -00-07 intersects 4.08 g/t Au, 0.13% WO3 across 3.0m
• TL-03-128 intersects 3.79 g/t Au, 0.20% WO3 across 6.4m
• TL-03-147 intersects 1.30 g/t Au, 0.06% WO3 across 26.0m including 2.21 g/t Au, 0.19% WO3 across 5.0m
• TL-04-227 intersects 1.08 g/t Au, 0.04% WO3 across 20.8m including 2.14 g/t Au, 0.20% WO3 across 3.8m
• TL-05-288 intersects 1.53 g/t Au, 0.12% WO3 across 3.5m
• TL-11-396 intersects 1.01 g/t Au, across 23m including 6.21 g/t Au across 1.0m

Glen Kuntz, P.Geo, President and CEO, stated "The OCAP Program has been a continual success. Within the Twin Lakes Deposit we are finding a very strong correlation of high grade gold associated with tungsten mineralization that is concentrated in regular spaced high grade shoots. We are confident that the OCAP program will continue to expand and improve the resource with ongoing sampling as the results to date have shown consistent improvement in grade along the entire 4.0 km deposit. Since the tungsten discovery hole in Feb 6, 2013 the Twin Lakes Deposit and in particular the high grade gold and tungsten mineralization has always benefited and improved in grade with more sampling and infill drilling. We are very encouraged by these results which show significant potential for further expansion."

To date, the OCAP gold and tungsten sampling program has focused primarily on the central and western portions of the deposit which have shown considerable growth in both the width of the mineralization and the grade continuity. This is demonstrated by the much deeper proposed open pit outline in the current resource both in the central and western portions of the Twin Lakes Deposit.

The OCAP sampling program is currently focused on the eastern portions of the Twin Lakes Deposit where little to no gold or tungsten sampling had been completed to date and has discovered considerable meterage that is mineralized and has not been sampled. For example Hole TL-11-396 has intersected new gold mineralization that is currently classified as waste in the conceptual open pit. (See figure 2)

Table 1: 2015 Gold and Tungsten OCAP Results
HOLE# ZONE FROM
(m) TO
(m) Width
(m) Au
Grade (g/t) WO3
Grade (%) Au Grade Equiv.
(g/t) Comments
SR-00-07 MZTLD 49.5 86.45 36.9 0.90 0.01 0.99 Porphyry Dyke
includes 49.5 52.50 3.0 4.08 0.13 5.21 VG and HG WO3Shear Zone
SR-00-08 MZTLD 98.6 119.65 21.1 0.79 0.02 0.99 Porphyry Dyke
includes 105.95 113.5 7.6 1.07 0.05 1.47 VG and HG WO3Shear Zone
TL-03-128 MZTLD 427.6 437.0 9.4 1.03 0.01 1.16 Porphyry Dyke
MZTLD 473.3 479.7 6.4 3.79 0.20 5.56 Incl.VG Shear Zone
TL-03-147 MZTLD 107.5 111.9 4.4 1.66 - 1.66 Porphyry Dyke
MZTLD 220.5 246.5 26.0 1.30 0.06 1.42 Porphyry Dyke
includes 220.5 225.5 5.0 2.21 0.19 3.83 VG and HG WO3Shear Zone
includes 237.0 246.5 9.5 0.73 0.06 1.29 VG and HG WO3Shear Zone
TL-03-167 MZTLD 64.4 88.4 20.0 0.60 0.02 0.76 Porphyry Dyke
includes 85.4 88.4 3.0 0.68 0.11 1.65 HG WO3Shear Zone
TL-03-168 MZTLD 67.0 95.7 28.7 0.98 0.03 1.28 Porphyry Dyke
includes 67.0 74.0 7.0 1.54 0.08 2.27 HG WO3Shear Zone
TL-04-227 MZTLD 63.2 84.0 20.8 1.08 0.04 1.45 Porphyry Dyke
includes 79.2 83.0 3.8 2.14 0.20 3.93 HG WO3Shear Zone
TL-05-287 MZTLD 19.0 42.0 23.0 0.52 0.02 0.56 Porphyry Dyke
MZTLD 80.6 96.3 15.7 0.81 0.04 1.18 Porphyry Dyke
includes 94.0 96.3 2.3 0.34 0.19 2.03 HG WO3Shear Zone
MZTLD 135.5 143.0 7.5 4.04 0.09 4.84 HG WO3Shear Zone
includes 135.5 138.1 2.2 7.86 0.13 8.96 HG WO3Shear Zone
TL-05-288 MZTLD 150.0 182.3 32.3 0.94 0.05 1.35 Porphyry Dyke
includes 150.0 159.0 9.0 0.86 0.08 1.56 HG WO3Shear Zone
includes 177.0 182.3 5.3 2.90 0.11 3.87 HG WO3Shear Zone
TL-05-292 MZTLD 53.0 60.0 7.0 1.01 0.26 3.32 HG WO3Shear Zone
TL-07-340 MZTLD 261.1 264.3 3.2 1.50 - 1.50 Porphyry Dyke
MZTLD 311.0 321.6 11.1 2.58 0.04 2.90 Porphyry Dyke
includes 317.0 319.2 2.2 1.64 0.09 2.46 HG WO3Shear Zone
TL-11-411 MZTLD 90.0 120.0 30.0 2.20 - 2.20 Porphyry Dyke
MZTLD 143.0 161.0 18.0 0.28 0.03 0.52 Porphyry Dyke
includes 154.0 161.0 7.0 0.03 0.07 0.63 HG WO3 Shear Zone
TL-11-396 MZTLD 122.0 145.1 23.1 1.01 - 1.09 Porphyry Dyke
includes 122.0 123.0 1.0 6.21 0.01 6.27 New VG AU Shear Zone
includes 136.9 141.4 4.5 1.9 0.02 2.07 HG WO3Shear Zone
TL-12-455 MZTLD 91.0 130.0 25.0 0.81 0.02 0.95 Porphyry Dyke
includes 123.0 130.0 7.0 0.87 0.05 1.34 HG WO3 Shear Zone

Note: Gold equivalent grade is calculated by multiplying the 3 year average Tungsten price of $40,000/tonne by the %WO3 then dividing by the Gold price $38.00/gram ($1200/ounce), then adding the Gold grade. MZTLD equates to Main Zone Twin Lakes Deposit.

The Company has not determined the economic cut-off grade.
Metallurgical recoveries OF 75% FOR WO3 and 90.3% for gold were used in the Gold Equivalent calculation. Down-hole thickness, true width varies depending on drill hole dip; most 2014 drill holes are intersecting the vein structures perpendicularly therefore down hole width are close to true width.

To view Figure 1: Twin Lakes Deposit W Longsection, Expanding High Grade Tungsten Mineralization within Mineralized Gold Envelop (Viewing North), visit the following link: http://media3.marketwire.com/docs/mgp_1.jpg

To view Figure 2: Twin Lakes Deposit Cross Section Expanding High Grade Gold Mineralization, visit the following link: http://media3.marketwire.com/docs/mgp_2.jpg

To date, over 150 km of drilling has been completed on the project which has outlined multiple gold/tungsten deposits, a high grade starter pit, a tungsten by-product credit and most recently the discovery of multiple parallel systems along our 140 km mineralized belt.

The Twin Lakes Deposit is one of three gold/tungsten deposits that make up the 338km2 Monument Bay Project which has potential development advantages given the current winter road access to its camp from local communities and Manitoba's Northern Development Strategy which is building all-purpose roads and infrastructure improvements within the region. The current power lines which connect Red Sucker Lake First Nation and God's Lake Narrows First Nation currently have very low electricity rates (estimated at $0.02-0.04/kWh) and are approximately 48 km from our project area.

Technical Information

The design of Mega's drilling programs, Quality Assurance/Quality Control and interpretation of results is under the control of Mega's geological staff including qualified persons employing a QA/QC program consistent with NI 43-101 and industry best practices. A detailed review of Mega's QA/QC procedures is filed in the NI 43-101 report dated June 17, 2013 and on SEDAR.

All drill core is transported by Company personnel from drill site to our camp for logging, sampling preparation are completed. Sampling intervals are defined after core logging and determination of scheelite content by examination under short-wave UV-light. One half of the core is sent for analysis, while the other half is retained in the core boxes for future reference. All samples are shipped to Accurassay Laboratories in Thunder Bay, Ontario and analyzed employing the appropriate gold fire assaying technique. For QA/QC purposes the Company as well as the lab submits standards and blanks every 20 samples. Samples are analyzed for W by XRF and assay results for tungsten are reported by the laboratory as W%. WO3 values are calculated using a conversion factor of 1.2611. BC Energy & Mines.

Tim Twomey P. Geo, VP Exploration, is the Qualified Person for the information contained in this press release and is a Qualified Person defined by National Instrument 43-101. Tim has prepared and supervised the content of the news release and has approved the scientific and technical content. Tim was most recently VP Exploration for Premier Gold Mines Limited, and prior to that was Senior Exploration Geologist for Goldcorp Inc. at their flagship Red Lake Mine.

Mega Precious Metals Inc. is a leading Canadian-based exploration company with a high quality pipeline of projects located in the mining friendly jurisdictions of Manitoba, Northwestern Ontario and Nunavut. The Company's significant portfolio includes the flagship Monument Bay Gold Tungsten Project in NE Manitoba as well as the N. Madsen Gold Project in the prolific gold mining district of Red Lake, Ontario. Mega has established a record of delivering rapid growth through their focused and low cost approach to exploration and resource development. The Company's common shares trade on the TSX Venture Exchange under the symbol MGP.

For further information and presentation material, please review the Mega website at www.megapmi.com

Forward-looking Statements
Certain statements in this press release relating to the Company's exploration activities, project expenditures and business plans are "forward-looking statements" within the meaning of securities legislation. The Company does not intend, and does not assume any obligation, to update these forward-looking statements. These forward-looking statements represent management's best judgment based on current facts and assumptions that management considers reasonable. The Company makes no representation that reasonable business people in possession of the same information would reach the same conclusions. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. In particular, fluctuations in the price of gold or in currency markets could prevent the Company from achieving its targets. Readers should not place undue reliance on forward-looking statements. More information about risks and uncertainties affecting the Company and its business is available in Mega Precious Metal's filings which are posted on sedar at www.sedar.com.

There is no guarantee that drill results reported in this news release will lead to the identification of a deposit that can be mined economically, and further work is required to identify a reserve or resource.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Mega Precious Metals Inc.
Glen Kuntz, P.Geo.
President, Chief Executive Officer & Director
O: 807-766-3380
image: skypec2c://r/204
807-766-3380 or TF: 877-592-3380
image: skypec2c://r/204
877-592-3380 FREE
[e-mail]
www.megapmi.com
image: http://at.marketwire.com/accesstracking/AccessTrackingLogServlet?docid=1000613001&sourceType=1

Marketwired (Canada)
April 7, 2015 - 9:22 AM EDT

Read more at http://www.stockhouse.com/news/press-releases/2015/04/07/mega-increases-high-grade-gold-and-tungsten-mineralization-within-the-monument#HgzdZrpUVwFOWYDO.99

[bigone]

Nice interview. Thanks for sharing.

[souwester]

Interview with MPRXF president

http://www.stockhouse.com/opinion/interviews/2015/03/31/mega-precious-metals-v-mgp-outlines-district-sized-gold-camp-manitoba

[bigone]

We purchased a few share the past couple of days. Ready for the ship to sail. May we have a fun and rewarding trip.

[bigone]

Sounds like a lot potential.....

[souwester]

Mega Precious Metals (V.MGP) sees emerging gold camp at Manitoba project

Mega Precious Metals Inc. (TSX: V.MGP, Stock Forum) shares jumped 15% Thursday after the company said it is seeing growing evidence that its flagship Monument Bay project in Manitoba has the potential to become an emerging gold camp.

Trading at 4 cents, on volume of 1.9 million, Mega has a market cap of $6.9 million, based on 173.2 million shares outstanding.

That optimistic view is based on recent drilling activity which was designed to test multiple targets on the wholly-owned gold-tungsten project, which is located 570 kilometres northeast of Winnipeg, and southeast of Thompson.

Monument Bay is already known to contain 2.2 million measured and indicated ounces of gold, and 0.9 million ounces of inferred gold.

An additional feature is the tungsten resource of 253,000 measured and indicated metric tonne units (MTUs) of W03 (tungsten oxide), and 99,000 inferred MTUs of W03 with grades of 0.17%.

But Mega officials have previously said that the gold resource has significant potential to grow.

It is a forecast that was reinforced Thursday when the company said exploration drilling on regional targets has identified a new geological structure called the South Limb Shear Zone (SLSZ)
Read more at http://www.stockhouse.com/news/newswire/2015/03/26/mega-precious-metals-v-mgp-sees-emerging-gold-camp-manitoba-project#OkeyUZMPSEwylhuv.99

The company said SLSZ is located one kilometre south of and parallel to the Twin Lakes Shear Zone, the structure that hosts the known gold resource.

Exploration completed so far indicates that the Monument Bay Project hosts multiple mineralized deposits in a variety of host rocks along multiple structures, the company said.

These structures are indicative of large Ontario gold camps (such as Hemlo and Timmins), the company said in a press release.

In early February, Mega said it had begun a 5,000 winter drill program. With two drill rigs deployed, it said the focus would be on resource expansion and the development of new exploration targets.

On Thursday, the company said approximately 2,700 metres of planned drilling has been completed so far, consisting of 10 drill holes that have tested multiple targets along each of the 27 kilometre-long Twin Lakes and South Limb shear zones.

The Monument Bay property consists of 136 contiguous claims for a total of 338 square kilometres.

The company has a memorandum of understanding with the Red Sucker Lake First Nation to cover certain portions of the project that lie within the traditional lands of the Red Sucker Lake First Nation.

Mega officials see potential development advantages in light of the current winter road access to its camp from local communities and Manitoba’s Northern Development Strategy which is building all-purpose roads and infrastructure improvements within the region.

The current power lines which connect Red Sucker Lake First Nation and God’s Lake Narrows First Nation currently have very low electricity rates (estimated at $0.02-0.04 per kilowatt hour) and are approximately 48 kilometres from the project area.

FULL DISCLOSURE: Mega Precious Metals is a client of Stockhouse Publishing

Read more at http://www.stockhouse.com/news/newswire/2015/03/26/mega-precious-metals-v-mgp-sees-emerging-gold-camp-manitoba-project#OkeyUZMPSEwylhuv.99

[bigone]

Sounds attractive. Thank you.

[souwester]

From my DD so far, previous explorers and MGP originally were looking at a deeper underground gold mine, as that's what the exploration was showing (and still shows). However, further exploration and analysis revelaed both a gold find close to the surface, plus tungsten close to the surface, appropriate for a gold/tungsten open-pit mine, which is much cheaper to develop. Presumably, over time, the nature of the project can change with new finds plus changing market conditions. It's a very, very large property.

[bigone]

Sounds interesting. I shall dig deeper.

[souwester]

I don't know. The winter drilling is still going on the prove up the resource, but there will probaly be more drilling later. As I understand it, the goal to start off is a cheaper open-pit gold/tungsten mine. However, the ultimate goal is a multi-generational camp.

[bigone]

Looks like this could prove in the long term to be a real deep value play?
How many oz's of au do they now have in M & I combined for all projects?

[souwester]

MPRXF Moving on News

March 26, 2015 09:48 ET

Mega Precious Metals Discovers Extensive Sericite Fuchsite Alteration and Broad Gold Mineralization at Newly Identified Regional Structure


THUNDER BAY, ONTARIO--(Marketwired - March 26, 2015) - Mega Precious Metals Inc. (TSX VENTURE:MGP) ("Mega") is pleased to announce that initial exploration drilling on the regional targets has succeeded in identifying a new regional structure called the South Limb Shear Zone (SLSZ). Recent widely spaced drilling has intersected broad areas of alteration with consistent anomalous gold mineralization over a strike length of more than 20 km. The newly discovered SLSZ is 1 km south of and parallel to the Twin Lakes Shear Zone (TLSZ) which hosts more than 2.2 million measured and indicated ounces and 0.9 million inferred ounces of equivalent gold at the Monument Bay Project, located in Manitoba.

Regional Exploration Highlights:

•Each drill hole in the TLSZ and SLSZ has consistently intersected gold mineralization.
•Drilling on the SLSZ has also intersected a new style of mineralization of fuchsite-quartz-pyrite-molybdenite veining in altered volcanics and Timiskaming-type metasedimentary rocks. Assays are pending.
•Monument Bay Project now hosts multiple mineralized deposits in a variety of host rocks along multiple structures that are indicative of large gold camps (such as Hemlo and Timmins).
To date, approximately 2,700 metres of the planned drill program has been completed, consisting of 10 drill holes that have tested multiple targets along each of the 27km long TLSZ and SLSZ structures.

Glen Kuntz, P.Geo, President and CEO, stated "The continuity of anomalous gold together with strong, large scale alteration of these new mineralized zones demonstrate that the Monument Bay Property has enhanced potential to become an emerging gold camp. The success of this program further indicates and supports that multiple parallel and structurally repeated shear zones occur further south within Mega's current land package."

The SLSZ was recently identified during a geological-geophysical compilation and was interpreted to represent the sheared southern limb of a large scale fold with the TLSZ occurring along the northern limb of this fold (See Figure 1 Regional Map).

Mega's 2015 winter drill program along the South Limb Shear Zone (SLSZ) has intersected broad sericite-silica alteration with associated gold mineralization comparable to alteration occurring in and proximal to the Twin Lakes and Mid East deposits hosted in the TLSZ. Localized fuchsite alteration is unique to the SLSZ and occurs proximal to gold mineralization.

Structural and lithological data collected from the drill holes along the SLSZ supports the large scale folded model and structurally repeated shear zones. Extensive alteration zones and associated gold and multi metal mineralization in all drill holes along the SLSZ indicates a very large hydrothermal system that has the potential to host similar deposits to the Twin Lakes Deposit.

To view Figure 1: Regional Map Outlining Multiple Shear Zones, please visit the following link: http://media3.marketwire.com/docs/MGP-326-1.pdf.

Drilling to date has tested two sections of the more than 20 km extent of this new structure.

South Limb Target:

The South Limb Target is the first area tested in the SLSZ and is in the immediate vicinity of the Twin Lakes Deposit (See Figure 2). Three drill holes each spaced approximately one kilometre apart intersected broad alteration zones and gold mineralization in quartz-carbonate veins with pyrite, arsenopyrite, pyrrhotite, chalcopyrite and sphalerite mineralization. TL-15-551 intersected a broad gold mineralized zone grading 0.30 g/t over 17.0 m. (81.0 m - 98.0 m). TL-15-549 and TL-15-550 have assays pending.

The mineralization, while not ore grade in these first few holes are spatially associated with the earlier D2 deformation mineralized event within the Twin Lakes Deposit. The presence of broad gold mineralization within the South Limb Structure indicates a high probability that higher grade gold mineralization exists along the structure.

Twin West Target:

Drill hole TL-15-546 targeted an induced polarization (IP) anomaly parallel to a historical drill tested and mineralized portion of the TLSZ approximately 2 km west of the Twin Lakes Deposit (see Figure 2). The drill hole intersected anomalous gold and tungsten mineralization confirming a parallel mineralized zone. This new mineralized zone is currently untested for approximately 2.5 km of western strike extent, and is an exciting target for potential resource growth. This anomaly and multiple other untested anomalies along the TLSZ, SLSZ and located in between these structures indicate further mineralization potential in the immediate vicinity of the Twin Lakes Deposit.

To view Figure 2: Twin West and South Limb Targets, please visit the following link: http://media3.marketwire.com/docs/MGP-326-2.pdf.

Altered Boot Target:

A second section of the SLSZ, approximately 11 km along strike to the east (Altered Boot Target) was tested in an area of a surface gold occurrence associated with pervasively sericite altered volcanics and conglomerate (See Figure 3). Multiple drill holes in this area have intersected broad (> 250 m core length) sericite altered volcanics and sediments and localized silica-fuchsite alteration in areas proximal to quartz veining with pyrite, arsenopyrite and molybdenite mineralization (gold assays pending).

To view Figure 3: Altered Boot Target Inset Map, please visit the following link: http://media3.marketwire.com/docs/MGP-326-3.pdf.

The Company is conducting a winter drilling program specifically designed to test prospective geologic structures such as the Twin Lakes and South Limb. Each of these large D2 structures are over 20km in length and have demonstrated that they are each a robust and high-grade gold/tungsten system. Exclusive of the 4 km potential open pit along the Twin Lakes structure these structures have had little to no drilling prior to this program. The geological information from this program combined with the existing geophysical data is being used to refine targets in preparation for the next phase of drilling.

To date, over 150 km of drilling has been completed on the project which has outlined multiple gold/tungsten deposits, a high grade starter pit, a tungsten by-product credit and most recently the discovery of multiple parallel systems along our 140 km mineralized belt.

The Twin Lakes Deposit is one of three gold/tungsten deposits that make up the 338km2 Monument Bay Project which has potential development advantages given the current winter road access to its camp from local communities and Manitoba's Northern Development Strategy which is building all-purpose roads and infrastructure improvements within the region. The current power lines which connect Red Sucker Lake First Nation and God's Lake Narrows First Nation currently have very low electricity rates (estimated at $0.02-0.04/kWh) and are approximately 48 km from our project area.

Technical Information

The design of Mega's drilling programs, Quality Assurance/Quality Control and interpretation of results is under the control of Mega's geological staff including qualified persons employing a QA/QC program consistent with NI 43-101 and industry best practices. A detailed review of Mega's QA/QC procedures is filed in the NI 43-101 report dated June 17, 2013 and on SEDAR.

All drill core is transported by Company personnel from drill site to our camp for logging, sampling preparation are completed. Sampling intervals are defined after core logging and determination of scheelite content by examination under short-wave UV-light. One half of the core is sent for analysis, while the other half is retained in the core boxes for future reference. All samples are shipped to Accurassay Laboratories in Thunder Bay, Ontario and analyzed employing the appropriate gold fire assaying technique. For QA/QC purposes the Company as well as the lab submits standards and blanks every 20 samples. Samples are analyzed for W by XRF and assay results for tungsten are reported by the laboratory as W%. WO3 values are calculated using a conversion factor of 1.2611. BC Energy & Mines

Tim Twomey P. Geo, VP Exploration, is the Qualified Person for the information contained in this press release and is a Qualified Person defined by National Instrument 43-101. Tim has prepared and supervised the content of the news release and has approved the scientific and technical content. Tim was most recently VP Exploration for Premier Gold Mines Limited, and prior to that was Senior Exploration Geologist for Goldcorp Inc. at their flagship Red Lake Mine.

Mega Precious Metals Inc. is a leading Canadian-based exploration company with a high quality pipeline of projects located in the mining friendly jurisdictions of Manitoba, Northwestern Ontario and Nunavut. The Company's significant portfolio includes the flagship Monument Bay Gold Tungsten Project in NE Manitoba as well as the N. Madsen Gold Project in the prolific gold mining district of Red Lake, Ontario. Mega has established a record of delivering rapid growth through their focused and low cost approach to exploration and resource development. The Company's common shares trade on the TSX Venture Exchange under the symbol MGP.

For further information and presentation material, please review the Mega website at www.megapmi.com.

Forward-looking Statements

Certain statements in this press release relating to the Company's exploration activities, project expenditures and business plans are "forward-looking statements" within the meaning of securities legislation. The Company does not intend, and does not assume any obligation, to update these forward-looking statements. These forward-looking statements represent management's best judgment based on current facts and assumptions that management considers reasonable. The Company makes no representation that reasonable business people in possession of the same information would reach the same conclusions. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. In particular, fluctuations in the price of gold or in currency markets could prevent the Company from achieving its targets. Readers should not place undue reliance on forward-looking statements. More information about risks and uncertainties affecting the Company and its business is available in Mega Precious Metal's filings which are posted on sedar at www.sedar.com.

There is no guarantee that drill results reported in this news release will lead to the identification of a deposit that can be mined economically, and further work is required to identify a reserve or resource.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.



Contact Information

Mega Precious Metals Inc.
Glen Kuntz, P.Geo.
President, Chief Executive Officer & Director
O: 807-766-3380 or TF: 877-592-3380
[e-mail]
www.megapmi.com

[souwester]

MPRXF - PROBABLE RALLY COMING

Is currently drilling gold/tungsten project- Monument Bay. Presenting this week at PDAC - world's biggest mining investment convention. Very large and recent positive buys. Lots like panic seller has run out. Probably news coming. Due for a nice run - now at only $0.045 Cdn.

Mega Precious Metals - trades mostly on the TSX - V.MGP, but can place buys on the OTC.

[wshaw14]

There have been some impressive Prs since my last post. I will have to dig a little more on this one and consider taking a position.

[wshaw14]

Daniel Racine did wonders for Brigus Gold. They were capital challenged, but he did reduce production costs and increased resources on his watch. A pretty sharp guy.

[Tommy]

Insider Transactions

http://www.canadianinsider.com/node/7?ticker=MGP

[Tommy]

$MPRXF - $MGP.V - expiration of warrants

http://www.canadianinsider.com/node/7?ticker=MGP

[Tommy]

$MPRXF - $MGP.V - insider buys

http://www.canadianinsider.com/node/7?ticker=MGP

[Tommy]

$MPRXF - $MGP.V - chart update

[Tommy]

$MPRXF - $MGP.V - Mega Precious Metals Intersects 58.3 m at 2.43 g/t Gold Equivalent Contributing to A 30% Overall Increase in Gold Equivalent Grades from Tungsten at Its Monument Bay Gold Project

http://investorintel.com/gold-silver-news/mega-precious-metals-intersects-58-3-m-at-2-43-gt-gold-equivalent-contributing-to-a-30-overall-increase-in-gold-equivalent-grades-from-tungsten-at-its-monument-bay-gold-project/

July 29, 2013 (Source: Marketwired) — Mega Precious Metals Inc. (TSX VENTURE:MGP) (“Mega”) is pleased to announce further gold and tungsten results from its 2013 exploration and drill program at its Monument Bay Gold Project, in northern Manitoba.

Mega’s geological framework continues to verify that an additional 13 drill holes intersected broad intervals of significant Gold and Tungsten concentrations in the form of a mineral called Scheelite. To date, over 30 drill holes have been assayed for Tungsten and collectively they continue to increase the overall gold equivalent grade by a weighted average of approximately 30%. Collectively these Tungsten results continue to demonstrate the potential for an economic by-product credit due to the consistent nature of the Gold/Tungsten association throughout Monument Bay. Results include the first 5 holes of the winter ice drilling program which consist of infill and step out holes and continue to confirm the continuity of strong, near surface high grade gold and tungsten mineralization with the deposits remaining open in all directions. The tungsten results from the old core assay (OCAP) programs and the 2013 winter drill program have not been included in the NI 43-101 resource update which was released June 17, 2013.

HIGHLIGHTS:
OCAP

TL 04-204 intersected, 87.2 metres at 0.91 g/t Gold Equivalent
Previous reported intercept was 87.2 metres at 0.54 g/t gold
70% increase in Gold Equivalent Grade
TL 04-241 intersected, 40.5 metres at 2.09 g/t Gold Equivalent
Previous reported intercept was 40.5 metres at 1.52 g/t gold
38% increase in Gold Equivalent Grade
TL 07-342 intersected, 58.3 metres at 2.43 g/t Gold Equivalent
Previous reported intercept was 58.3 metres at 1.94 g/t gold
25% increase in Gold Equivalent Grade

2013 Winter Drill Program

TL 13-488 intersected, 62.0 metres at 1.04 g/t Gold Equivalent
Gold only intercept is 62.0 metres at 0.78 g/t gold
34% increase in Gold Equivalent Grade

TL 13-490 intersected, 37.6 metres at 0.91 g/t Gold Equivalent
Gold only intercept is 37.6 metres at 0.53 g/t gold
72% increase in Gold Equivalent Grade
TL 13-491 intersected, 8.4 metres at 1.79 g/t Gold Equivalent
Gold only intercept is 8.4 metres at 1.08 g/t gold
66% increase in Gold Equivalent Grade

Mega’s 2013 drill and OCAP programs has been focused between Sections 503900 E and 506300 E and continues to be successful in further delineating the high grade continuity of gold and tungsten mineralization, particularly for the shallow (less than 200 metre vertical depth) mineralization. Drill hole’s TL 04-204, TL 05-295, TL 13-486 and TL 13-490 noticeably demonstrate how the addition of tungsten mineralization increases the overall average grade of the orebody and coverts previous waste into mineralization.

Tungsten results to date exhibit the same predictable and consistent high grade gold cores that occur every 180-290 m, begin at or near surface and increase in size with depth which has the potential to significantly enrich the current overall open pit resource grade of 1.4 g/t gold only (see slides 7-11 in the June 2013 Resource Update Presentation).

A summary of the 2013 OCAP gold (Au) and tungsten (W) assay results and an updated plan view map are found below with previously released gold grades.
HOLE# ZONE FROM TO INTERCEPT Au WO3 Au Grade %
(m) (m) (m) Grade Grade Equivalent Increase
(g/t) (%) (g/t)
TL-02-79 MZTLD 136.5 185.1 48.6 1.13 0.01 1.26 12 %
TL-04-204 MZTLD 119.4 127.0 7.6 1.08 0.04 1.51 40 %
MZTLD 214.5 301.7 87.2 0.54 0.03 0.91 70 %
includes 218.5 221.5 3.0 2.43 0.14 4.17 72 %
includes 300.1 301.7 1.6 3.28 0.98 15.16 362 %
TL-04-241 MZTLD 161.0 201.5 40.5 1.52 0.05 2.09 38 %
includes 196.2 199.6 3.4 4.39 0.50 10.47 138 %
TL-04-243 MZTLD 141.4 178.4 37.0 1.64 0.01 1.79 9 %
TL 05-269 MZTLD 60.0 92.0 32.0 8.10 0.04 8.62 6 %
includes 60.0 61.5 1.5 2.71 0.45 8.17 202 %
includes 69.0 76.5 7.5 29.89 0.08 30.89 3 %
TL 05-290 MZTLD 135.0 215.2 80.2 1.40 0.01 1.52 9 %
includes 209.1 212.2 3.1 1.08 0.23 3.84 257 %
TL 05-295 MZTLD 9.8 75.6 65.9 0.41 0.01 0.55 33 %
includes 71.0 74.0 3.0 0.84 0.06 1.57 86 %
MZTLD 122.4 160.0 37.6 0.63 0.01 0.77 21 %
MZTLD 215.0 273.7 58.7 0.64 0.01 0.76 17 %
includes 238.0 246.0 8.0 1.12 0.03 1.46 30 %
TL 07-342 MZTLD 72.5 130.8 58.3 1.94 0.04 2.43 25 %
includes 72.5 106.0 33.5 2.05 0.07 2.90 42 %
TL 07-344 MZTLD 224.0 308.4 84.4 2.34 0.01 2.44 5 %

Winter Drill Program:

The first 5 drill holes from our winter drill program were successful in extending the high grade gold and tungsten mineralization between sections 505000 E and 505500 E. Additionally, they are thicker and higher grade than those previously used in the most recent June 17, 2013 resource update and will continue to improve the contained ounces, open pit design and overall economics of the deposits.

2013 High-Grade Gold Equivalent Infill and Step out Drill Results
HOLE# ZONE FROM TO INTERCEPT Au WO3 Au Grade %
(m) (m) (m) Grade Grade Equivalent Increase
(g/t) (%) (g/t)
TL-13-486 MZTLD 205.0 216.0 11.0 1.10 0.06 1.85 69 %
MZTLD 248.0 276.0 28.0 0.53 0.03 0.88 68 %
includes 248.0 251.0 3.0 0.83 0.19 3.13 276 %
MZTLD 280.5 284.5 4.0 0.37 0.04 0.91 146 %
MZTLD 292.0 297.0 5.0 0.97 0.01 1.07 11 %
includes 308.0 321.0 13.0 0.72 0.01 0.88 23 %
TL-13-488 MZTLD 153.0 157.0 4.0 0.73 0.01 0.87 20 %
MZTLD 178.0 240.0 62.0 0.78 0.02 1.04 34 %
includes 232.0 237.0 5.0 0.54 0.12 2.00 268 %
TL-13-489 MZTLD 345.0 373.0 28.0 0.77 0.02 0.97 26 %
includes 348.0 352.0 4.0 0.70 0.10 1.85 165 %
TL 13-490 MZTLD 46.0 47.2 1.2 0.04 0.09 1.09 2,589 %
MZTLD 113.0 123.0 10.0 1.38 0.02 1.62 17 %
MZTLD 145.0 182.6 37.6 0.53 0.03 0.91 72 %
includes 161.2 163.0 1.8 1.88 0.19 4.19 123 %
includes 173.5 176.6 3.1 1.08 0.17 3.20 196 %
MZTLD 211.0 220.0 9.0 0.69 0.03 1.00 45 %
TL 13-491 MZTLD 139.6 154.0 14.4 3.39 0.03 3.69 9 %
MZTLD 210.0 240.0 30.0 0.63 0.01 0.75 18 %
MZTLD 256.0 264.4 8.4 1.08 0.06 1.79 66 %
Note: * Gold equivalent grade is calculated by multiplying the 3 year average Tungsten price of $50,300/tonne by the %WO3 then dividing by the Gold price $41.48/gram ($1290/ounce), then adding the Gold grade. MZTLD equates to Main Zone Twin Lakes Deposit Tungsten Current Spot price is $58,000/tonne. True Width 22 – 120 m, 88 m average.

Mega’s President, CEO and Director, Glen Kuntz commented “The most recent drilling is exciting as it continues to demonstrate elevated, potentially recoverable tungsten values along with the gold mineralization. This discovery has exceeded our expectations by enriching the gold equivalent grades overall by a weighted average of 30%.

Monument Bay’s high grade deposits are unique assets in terms of having both high grade gold and tungsten values within an open pit, and the overall large size of the deposit with near surface mineralization with grade continuity. Including Tungesten in our next resource update when compared to the current resource is expected to increase the overall gold equivalent ounces and grade while decreasing the strip ratio thereby significantly enhancing the potential economics of Monument Bay.

The evolution of these deposits over the past 2.5 years has been remarkable, going from a small narrow underground gold mine to the discovery of multiple high grade gold and tungsten deposits which are open in all directions and are located within a continuous 8 km gold tungsten system. Mega, while preserving cash, continues to deliver value to our shareholders. Mega sees much more potential to add multiple deposits on our 120 km gold/tungsten system and potentially provide strong growth in gold and gold-equivalent resources at our Monument Bay Gold Project.”

Mega’s team continues to develop its understanding of the deposits and determine the association between gold and tungsten over the past 24 months. Recent work includes:

• Monument Bay Resource Update – June 2013

• Geological Framework understanding continues to develop through research and further analysis

• Tungsten is associated with gold mineralization and not in separate discrete veins confirmed by thin section analysis UOM Presentation November 2012

• Tungsten is in its purest end state (Scheelite) confirmed by thin section analysis ITIA Newsletter June 2012

• Scheelite, occurring in its purest form, is of high density and can be enriched with standard gravitational methods and is amenable to flotation circuits ITIA Newsletter June 2012

To further progress this understanding, later this year, Mega will conduct metallurgical testing of the tungsten to determine the recoverability.

As a point of reference, a grade of 0.10% Tungsten equates to 1 kg of Tungsten per tonne. The current average July spot price of tungsten is $58.00/kg. Current Tungsten-only mines have resource grades between 0.06% and 1.1% Tungsten with the average being ~0.49% Tungsten http://www.itia.info/minerals-deposits.html Monument Bay’s Tungsten grade is within the grade of tungsten only operating mines but it is a credit to the cost of extracting gold thereby significantly increasing the potential economics of Monument Bay.

The European Union and the U.S. Department of Defense rate tungsten in their top three list of critical minerals for China accounts for most of the world’s supply as well as demand which therefore presents opportunities for the development of tungsten ores, concentrates and other products outside of China. Among its refractory metal qualities, tungsten combines special strength, hardness and density, along with the highest melting point of any metal (3,422 degrees C). This gives tungsten a range of vital uses from light filaments, ballpoint pens, electronics, blades, drills, saws and munitions to fishing lures and strings for musical instruments.

Mega is currently completing both an infill and step out drill program and has started the third phase of its Gold/Tungsten OCAP program. These programs are focused on expanding the stockwork-style high grade gold mineralization of the existing Twin Lakes Deposit as well as the new Mid-East and AZ satellite deposits and test the newly found regional exploration gold targets such as the Connector and Gold Pond zones. All of these mineralized zones occur within 7 kms of the existing Twin Lakes Gold Deposit.

To view the Plan View, please visit the following link: http://media3.marketwire.com/docs/Plan_View.pdf.

Testing Shallow Targets – More Near Term Potential for Success

Monument Bay Gold Project is located 52 kms North of Red Sucker First Nation (RSLFN), Manitoba. The property is located on Crown property in an area of low topographic relief and outcrop is fairly rare. Manitoba’s Current Northern Development Strategy is building all-purpose roads and infrastructure improvements within the region. Once these are complete, we will have all purpose roads and power lines with very low electricity rates ($0.02-0.04/kWh) that are within approximately 52 kms of our project area.

Mega will also test targets beyond the existing resource boundary to establish potential for future resource growth by outlining multiple gold targets along the 120 kms of prospective mineralized corridors.

All of the deposits remain open both along strike and down-plunge and new prospective horizons located in close proximity to the current resource are currently being further defined by drilling, OCAP, and surface exploration which will provide valuable information to make additional new discoveries.

Technical Information

The design of Mega’s drilling programs, Quality Assurance/Quality Control and interpretation of results is under the control of Mega’s -geological staff including qualified persons employing a QA/QC program consistent with NI 43 101 and industry best practices. A detailed review of Mega’s QA/QC procedures is filed in the NI 43-101 report dated March 19, 2012 and on SEDAR.

All drill core is transported by Company personnel from drill site to our camp for logging, sampling preparation are completed. Sampling intervals are - defined- after core logging and determination of scheelite content by examination under short wave UV light. One half of the core is sent for analysis, while the other half is retained in the core boxes for future reference. All samples are shipped to Accurassay Laboratories in Thunder Bay, Ontario and analyzed employing the appropriate gold fire assaying technique. For QA/QC purposes the Company as well as the lab submits standards and blanks every 20 samples. Samples are analyzed for W by XRF and Assay results for tungsten are reported by the laboratory as W%. WO 3 values are calculated using a conversion factor of 1.2611. BC Energy & Mines. A current economic analysis has not been completed and there is no certainty the project will be economically viable even with the tungsten credit.

Glen Kuntz, President, Chief Executive Officer (CEO) and Director is the Qualified Person for the information contained in this press release and is a Qualified Person defined by National Instrument 43-101. Glen was Sr. Resource Geologist at the Campbell Gold Mine and Global Spatial Data Systems Coordinator for Placer Dome, Vice President Enterprise Mining Solutions for Runge Ltd., and most recently, President and Interim Chief Executive Officer with Mega Precious Metals.

Mega Precious Metals Inc. is a well-financed Canadian-based mineral exploration company with several projects in Northwestern Ontario, Manitoba and Nunavut. The Company is committed to an accelerated growth strategy and is backed by a team of experienced mining experts and a strong financial position. The Company is poised for rapid expansion through quick response to new opportunities and changes in the market. Mega’s common shares trade on the TSX Venture Exchange under the symbol MGP.
- See more at: http://investorintel.com/gold-silver-news/mega-precious-metals-intersects-58-3-m-at-2-43-gt-gold-equivalent-contributing-to-a-30-overall-increase-in-gold-equivalent-grades-from-tungsten-at-its-monument-bay-gold-project/#sthash.BskaAcbW.dpuf

[Tommy]

$MPRXF - $MGP.V - MEGA ANNOUNCES 2.9 MILLION OUNCES OF GOLD IN MEASURED AND INDICATED RESOURCES AND 0.7 MILLION OUNCES OF GOLD IN INFERRED RESOURCES AT MONUMENT BAY

http://www.megapmi.com/2013-releases/content/releases/article/mega-announces-29-million-ounces-of-gold-in-measured-and-indicated-resources-and-07-million-ounces-of-gold-in-inferred-resources-at-monument-bay

... "Mega Precious Metals Inc. (MGP:TSX-V) (“Mega”) is very pleased to announce an updated NI 43-101 mineral resource estimate for its Monument Bay Gold Project in northern Manitoba which demonstrates a significant improvement in the size, grade distribution and confidence from the previous resource estimate (See news release dated February 22, 2012).

The Monument Bay Gold Project (“Monument Bay”) is estimated to contain a Measured (M) and Indicated (I) Resource of 2.9 M ounces of gold averaging 1.3 g/t Au and additional Inferred Resources of 0.7 M ounces of gold averaging 0.8 g/t Au, including a high grade pit-constrained mineral resource of 2.8 M ounces at 1.4 g/t Au and an inferred resource of 0.3 M ounces at 1.2 g/t Au. The resource estimate has been completed by Todd McCracken, P.Geo. of Tetra Tech. Mr. McCracken is an independent qualified person, as defined by NI 43-101. The resource utilizes a 3D block model and is constrained by geological domains. The mineral resource estimate does not include the recent discovery of Tungsten mineralization with results such as hole TL12-484 which intersected 94.0 metres at 1.5 g/t gold equivalent and TL11-390 intersected 41.0 metres at 2.7 g/t gold equivalent.

The Corporation has scheduled a conference call for investors and analysts at 10:00 AM (Eastern Time) Wednesday June 19, 2013, call in details are below.

Highlights:

Measured and Indicated Resources of 2.9 M Ounces of Gold at 1.3 g/t Au
Upgrading 1.8 M ounces in classification, an overall increase of 94% from the previous resource estimate.
Inferred Resources of 0.7 M Ounces of Gold
High Grade Starter Pit providing optionality, flexibility and potential rapid payback
Monument Bay is estimated to contain a distinct, higher-grade Measured and Indicated open-pit resource of 667,308 ounces of gold averaging 2.7 g/t Au at a 1.5 g/t Au cut-off
Over 143,460 m of drilling, plus channel sampling and surface mapping incorporated into the geological model
Includes over 32,500 m of drilling since the last resource update
Improved Confidence in the Twin Lakes Open Pit deposit with 91% of the resource in the Measured and Indicated category
Additional Unconstrained Open-pit Resources at the Expanding Mid East and AZ Zones increasing total Measured and Indicated resources to 80,084 ounces of gold and Inferred resources to 312,361 ounces of gold.
Defined Repeatable Cores every 180-290 m that are consistent and predictable continue along strike and depth providing potential for significant resource expansion
Recently Discovered gold and tungsten zones, offering further potential upside

Glen Kuntz, President and CEO of Mega stated “While the Measured and Indicated resource has grown significantly, the average open-pit grade of 1.4 g/t provides high quality ounces with significant potential for resource expansion in a politically safe and mining friendly Canadian jurisdiction giving Monument Bay the potential to become Canada’s next great gold mine. We are also pleased that we have identified and confirmed the repeatable high-grade domains and the discovery of Tungsten mineralization which may lead to a significant by-product credit. The inclusion of Tungsten mineralization in an updated resource is expected to increase the gold equivalent grade of the deposit making Monument Bay one of the highest-grade open-pit deposits in Canada. Collectively, these give Mega the ability to continue to deliver solid exploration results and grow a resource base which will enhance the potential economics as we progress the Monument Bay Gold Project to pre-feasibility." ...

[Tommy]

$MPRXF - Chart Update

[Tommy]

Downtrend continues - at a steeper angle now

[Tommy]

$MPRXF - $MGP.V - MEGA PRECIOUS METALS REPORTS CONSISTENT TUNGSTEN CREDITS SIGNIFICANTLY INCREASING GOLD-EQUIVALENT ASSAY VALUES AT ITS MONUMENT BAY GOLD CAMP

http://campaign.r20.constantcontact.com/render?llr=pj77egcab&v=001iJhWe_MGxki7qoTiiaVo4m0UeqteyQTdHbCot3mqWEpymMua7LWUoEAR44xfO3iBDigzPNyPcyYOYwnbqd6VfFs1jnZPMrRwhU7qN9xL_dvuezyTOj2I9w%3D%3D

... "Mega’s geological framework has verified that all 17 drill holes have continued to intersect broad intervals of significant Gold and Tungsten concentrations in the form of a mineral called Scheelite. The current program has increased the overall gold- equivalent grade by an average of 32% with smaller intercepts increasing up to 198%. Collectively these Tungsten results continue to demonstrate the potential for an economic by-product credit due to the consistent nature of the Gold/Tungsten association throughout the Twin Lakes Deposit." ...

... "As a point of reference, a grade of 0.10% Tungsten equates to 1 kg of Tungsten per tonne. The current average January spot price of tungsten is $50.30/kg. Current Tungsten-only mines have resource grades between 0.06% and 1.1% Tungsten with the average being ~0.49% Tungsten http://www.itia.info/minerals-deposits.html"; ...

[Tommy]

$MPRXF - $MGP.V - Byron King Update

http://campaign.r20.constantcontact.com/render?llr=pj77egcab&v=001-Z4x8hfwYW_3NncNi5LUMS39A4VyQc8NkwCNVR6eYUDKuubwubTs8-u42fmmvw4GlYSQX2ncsUdyt0vldTTBJaoYTpnP4AF5NM3Jt4sIL_lHwEmZ8SwA3A%3D%3D

February 8, 2013
Mega Precious Metals

Far to the north and east of Nevada, Mega Precious Metals (MGP: TSX-V) released news from its gold development effort at Monument Bay, Manitoba. I've mentioned, in previous articles, that Mega has developed a fast, effective, low-cost means of identifying new gold-bearing zones.

The Mega technique is based on the intriguing geochemical fact that gold mineralization, at Monument Bay, is strongly associated with tungsten, in the form of a mineral called Scheelite. Basically, Scheelite fluoresces under ultra-violet light (UV). So Mega takes drill-cores, and illuminates them with UV. When the UV reveals Scheelite, it's about 99.9% certain that there's gold as well. This is a quick, reliable means for Mega to target its funds on gold assays, and focus on finding the high-value material and zones.

It helps that previous operators, at Monument Bay, drilled many kilometers of core, which is racked and stacked, and all available for Mega to examine. This "old core program" (OCP) saves literally millions of dollars in what would be required to drill things today. So Mega has been systematically going through the old core (of 2.4 billion year old rocks, speaking of "old"), and performing UV inspections for Scheelite.

If there's Scheelite, then there's gold. And now, it's turning out that Scheelite is significant, to the point that Mega's "gold" play may also be a tungsten play as well. There are large zones, at Monument Bay, with up to 2% tungsten, which makes for excellent ore. Elsewhere in the world, people (many of whom are called "Chinese") mine grades as low as .1% tungsten.

Mega shares are trading in the 20-cent range, which makes for a two year low. In other words -- and as I've discussed many times, in previous notes -- it's a brutal market for mineral developers, meaning companies that are spending funds and not generating cash flow. Still, with Mega, the value is there for the brave -- gold, and now tungsten.

Mega has done an excellent job of creating an extensive gold resource, now moving north of 2 million ounces at Monument Bay. Plus, let's add in the "new" news of the tungsten angle. It seems that, with every announcement, Mega differentiates itself from the large group of peer-developers. Mega is becoming more attractive as takeover bait, or absent that, it's setting up to build a mine on its own initiative.

[Tommy]

$MPRXF - $MGP.V - Mega Precious Metals has Identified Potential New Mineralization at Its Monument Bay Gold Camp and Recommences Drilling

http://campaign.r20.constantcontact.com/render?llr=pj77egcab&v=001C8QXJYUMj5dcQ4dDSveBDMU6nWfhbtnf1JJv1VFEjdhsxPKhDG8EXw-yvaExiDelJdyyVngOa2hijd10X9Qn_LpHxBBLyhn2GObWka5aMPBvPjWXmCG-iw%3D%3D

... "Mega Precious Metals Inc. (MGP:TSX-V) (“Mega”) is pleased to announce that the company has commenced its 2013 exploration & drill program and discovered high grade concentrations of Tungsten at its high grade multimillion (see resource table below) ounce gold deposit at the Monument Bay Gold Camp, in Manitoba.

In mid-2012, Mega’s geological team, in conjunction with the University of Manitoba, determined that the gold mineralized zones have highly elevated concentrations of tungsten in the form of a mineral called Scheelite. The Gold/Scheelite association was determined using a UV light and has outlined the mineralized zones to be broad and continuous. These Scheelite veins occur within the current gold mineralized footprint at Monument Bay and could become a significant economic by-product (University of Manitoba Presentation Nov 2012). Mega’s geological team has been reviewing in excess of 130,000 m of drill core to continue to outline these mineralized structures.

Mega is pleased to announce its first preliminary analytical Tungsten assay results for core previously assays in 2011 only for Au mineralization has shown the potential for an economic by-product credit. The initial results have indicated Tungsten values in excess of 2.01% over 1m with a broad lower grade halo. A grade of 2.01% Tungsten equates to 20.1 kg of Tungsten per tonne. The current average January spot price of tungsten is $52.90/kg. As a point of reference, current Tungsten only mines have resource grades between 0.09 and 1.1% Tungsten with the average being ~0.49% Tungsten www.itia.info/minerals-deposits.html . There are currently over 17 holes with over 600 Tungsten assays pending for the initial program." ...

[Tommy]

$MPRXF - $MGP.V - Corporate Fact Sheet

http://www.megapmi.com/assets/files/fact_sheets/Gen.November_updated.pdf

[Tommy]

$MPRXF - MGP.V - Corporate Presentation as of Jan 2013

http://www.megapmi.com/assets/files/corporate_presentations/January_2013.pdf

[Tommy]

$MPRXF - $MGP.V - change of trend to the upside on the daily chart

[Tommy]

$MPRXF - Why Invest in Mega Precious Metals?
http://campaign.r20.constantcontact.com/render?llr=pj77egcab&v=0015cPBtOwYvcVntt5BdmUn2GfUZvbhsNwYto-nGQZsVHAC70OKkDr-CgzyJof0IbuLYKBd69TaAQir4isHSJPjstzSKArAA8sY0_MnxXW_JIvvBT_W-iypeg%3D%3D

... "During the 2013 fiscal year, our goal is to continue the aggressive exploration pace we have set at our Monument Bay Gold Camp and Red Lake projects, evaluate ways to realize value on Mega’s other assets, and accelerate our corporate growth and strategy to maximize shareholder value. Although we have advanced our projects from grass-roots discoveries to significant resources in a remarkably short time, there is still considerable untapped potential throughout each of the gold districts that remains to be assessed, and we will maintain our aggressive pace in evaluating this potential in 2013. The Company currently has four significant assets, all of which we believe are significantly undervalued, and we will be focused on realizing this neglected value and increasing market awareness." ...

[Tommy]

$MPRXF - Mega Precious Metals Closes Its Acquistion of the Headway Property in Red Lake, Ontario

http://proedgewire.com/gold-silver-news/mega-precious-metals-closes-its-acquistion-of-the-headway-property-in-red-lake-ontario/

... "The Headway property is located along the Red Lake mine trend, adjacent to Hwy 105 and just South of Goldcorp’s high grade Red Lake and Campbell mines that are located in Balmertown, Ontario. The property consists of six (6) patented claims and one (1) unpatented claim totaling approximately 320 acres. The definitive agreement to acquire the 100% interest in the Headway Property was first announced October 5, 2009 http://www.megapmi.com/2009-releases/content/2009-releases/article/nr_5-10-2009_headway_da.

Glen Kuntz President and Interim Chief Executive Officer stated: “We are pleased to complete the acquisition of a 100% interest in the Headway Gold project; we believe the property will prove to be an important and valuable asset in our holdings”." ...

[Tommy]

$MPRXF - MGP.V - MEGA’S OCAP PROGRAM CONTINUES TO ADD GOLD MINERALIZATION WITHIN THE PROPOSED OPEN PIT AT THE MONUMENT BAY GOLD CAMP

http://finance.yahoo.com/news/mega-ocap-program-continues-add-145100846.html

[bigone]

Anything new happening here?

[billyp]

How in HELL did 133000 shares trade today ALL GREEN as buys and the stock dropped 2.7%?

Good ole IHUB I guess.

[bigone]

billyp I just signed on to this ship of dreams. Lucky to get a few shares this morning after the price dipped. A big HELLO to all of the crew.

[billyp]

just the beginning.

[Pro-Life]

Nice day here... +8.47%

[billyp]

New PR late Wed. We're heading up. Thar's GOLD in them thar hills.



MEGA, DRILLS 38.5 G/T AU OVER 0.70 METRES AND 26.1 G/T AU OVER 0.80 METRES EXTENDING MINERALISED ZONES AT THE MONUMENT BAY PROJECT


Thunder Bay, Ontario


August 3, 2011


Shares Issued: 76,256,980






Mega Precious Metals Inc. (MGP:TSX-V) (“Mega”) is pleased to announce assay results from its first 9 diamond drill holes of a planned 15,000 meter summer drill program. To date, this program has extend 3 of the mineralized zones by as much as 50 metres along strike and upwards of 75 metres down plunge and delineated one new mineralized structure bringing the total to 19 discrete mineralized zones. Significant results from the ongoing summer drill program are tabled below.


Highlights:


C Zone expands with:



Drill hole TL 11-390 intersecting 3.27 g/t gold over 15.0 metres which includes 38.5 g/t gold over 0.7 metres

Drill hole TL 11-394 intersecting 7.86 g/t gold over 2.0 metres which includes 11.5 g/t gold over 1.0 metre



GK Zone expands with:



Drill hole TL 11 390 intersecting 4.32 g/t gold over 8.7 metres which includes 26.1 g/t gold over 0.8 metres



146 Zone expands with:



Drill hole TL 11 397 intersecting 7.91 g/t gold over 5.2 metres



New Zone:



Drill hole TL 11-391 intersects 5.2 g/t gold over 1.0 metre, a newly discovered mineralized zone, currently located between the C and Oogath zones.


The planned 15,000 metre drill program has been designed to extend known mineralization and upgrade current inferred resources into the measured and indicated categories for incorporation into a future preliminary economic assessment (PEA) being scheduled for Q1, 2012. The program has focused on the western corridor of the deposit which is at least 3000 metres in strike length,> 50 metres wide and upwards of 900 metres in depth and hosts 9 of the 19 mineralized structures. In order to maximize the addition of near surface, potentially bulk mineable M&I Resources, the remaining 2011 drilling will focus on upgrading and extending the “Burn Zone” to the west. All of the drilling Mega has completed to date, continues to deliver robust widths and grades and significantly expand the mineralization.


On June 2011, using 116,000 metres of core, Mega compiled an upgraded resource that added significant ounces to the project. Monument Bay now hosts an estimated 2.4 million measured and indicated tonnes at 7.61 grams gold for 592,000 ounces contained ounces gold, plus 6.2 million inferred tonnes at 6.01 grams gold for a further 1.19 million contained ounces, both using a 3 gram gold cut off. (see Press Release dated June 27, 2011)





MEGA 2011

Monument Bay Drill Results

HOLE#


ZONE


FROM

(m)


TO

(m)


INTERCEPT (m)


Au Grade (g/t)


















TL-11-389


C


109.70


119.70


10.00


2.06

TL-11-390


C


72.00


87.00


15.00


3.27

Incl


C


86.30


87.00


0.70


38.49

TL-11-390


GK


97.30


106.00


8.70


4.32

Incl


GK


97.30


98.10


0.80


26.14

TL-11-391


New zone


80.70


81.70


1.00


5.23

TL-11-391


C


94.00


104.00


10.00


1.48

TL-11-392


GK


135.80


138.80


3.00


1.77

TL-11-392


C


167.80


172.60


4.80


1.43

TL-11-393


146


356.00


361.30


5.30


1.92

incl


146


357.00


358.00


1.00


4.22

TL-11-394


C


82.00


103.00


21.00


1.44

incl


C


88.00


94.00


6.00


1.38

incl


C


101.00


102.00


1.00


11.45

TL-11-396


C


139.4


145.1


6.70


1.00

TL-11-397


146


457.00


462.22


5.20


7.91

Note: True Width is approximately 75% of Intersection Width

Minimum Reported Interval of = 5 gram-metres using a cut-off grade of 0.8 g/t



Since Jan 2011, Mega has completed over 15,000 metres of drilling on the Monument Bay Project. This current definition program will increase this total towards of 29,000 metres, which will result in a total of approximately 145,000 metres drilled on the property.


Mr. Jim Rogers commented, “The results continue to demonstrate the size and strength of gold mineralization at our Monument Bay Project. Our exploration to date has outlined sufficient gold resources to move forward with an advanced underground exploration program in 2012. Results have also demonstrated that the “Burn Zone” and west extension may be a source of bulk-tonnage that can drastically improve the project economics and increase the total potential gold production model.”

The Monument Bay deposit is open in all directions and Mega management firmly believes that their Monument Bay property is part of a much larger gold system that encompasses the Twin Lakes/Stull Lake gold bearing structures.


Glen Kuntz, Chief Operating Officer (COO), is the Qualified Person for the information contained in this press release and is a Qualified Person defined by National Instrument 43-101. Glen was Sr. Resource Geologist at the Campbell Gold Mine and Global Spatial Data Systems Coordinator for Placer Dome, Vice President Enterprise Mining Solutions for Runge Ltd., and most recently, Vice President Global Operations for GMC Global.



Mega Precious Metals Inc. is a well financed Canadian-based mineral exploration company with several projects in Northwestern Ontario, Manitoba and Nunavut. The Company is committed to an accelerated growth strategy and is backed by a team of experienced mining experts and a strong financial position. The Company is poised for rapid expansion through quick response to new opportunities and changes in the market. Mega’s common shares trade on the TSX Venture Exchange under the symbol MGP.


For further information and presentation material, please review the Mega website at www.megapmi.com


For further information, please contact:

Mega Precious Metals Inc.

Jim Rogers, President and Chief Executive Officer

O: 807-766-3380

TF: 877-592-3380

[e-mail]


Forward-looking Statements

Certain statements in this press release relating to the Company’s exploration activities, project expenditures and business plans are "forward-looking statements" within the meaning of securities legislation. The Company does not intend, and does not assume any obligation, to update these forward-looking statements. These forward-looking statements represent management’s best judgment based on current facts and assumptions that management considers reasonable. The Company makes no representation that reasonable business people in possession of the same information would reach the same conclusions. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. In particular, fluctuations in the price of gold or in currency markets could prevent the Company from achieving its targets. Readers should not place undue reliance on forward-looking statements. More information about risks and uncertainties affecting the Company and its business is available in Mega Precious Metal’s filings which are posted on sedar at www.sedar.com.

There is no guarantee that drill results reported in this news release will lead to the identification of a deposit that can be mined economically, and further work is required to identify a reserve or resource.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

[db2469]

No one posting here lately, just when things are getting interesting with this company....it looks like plenty of gold in those mines!
DB

[Pro-Life]

For the week: -15.25%

[Montanore]

Chart shows it wants to see the $1 level again...

[Pro-Life]

Today closed over every moving average including the MA300.

[mikembte2005]

Another up day again today. Wish I could load up on more shares. May be a 10 bagger over the next year.