Mega Precious Metals Inc. (TSX VENTURE:MGP) ("Mega") announces that, further to the news release of October 16, 2013, Mega has filed the National Instrument 43-101 Technical Report entitled "Report on Drilling MH1103 Headway Au Property, Red Lake, Ontario" dated November 4, 2013, on SEDAR. The report has also been posted on the Company's website. There are no material differences between the results of the Technical Report filed today and the disclosure provided in the October 16, 2013 news release.
Glen Kuntz, President and CEO, states "The technical report authored by Tim Twomey Consulting and our team is an important milestone in the advancement of the Headway Gold Project. Mr. Twomey was an integral member of the geological team at the Red Lake Mine that discovered, delineated and brought the High-Grade Zone discovery into production. As such this in-depth knowledge combined with our recent discovery of shear zones, anomalous gold zones and other important marker horizons in Drill hole MH1103 are analogous to being within approximately 300 metres of high grade mineralization at the HGZ at the Red Lake Mine and it is the QP's opinion that deep diamond drilling should continue at the Headway Property northward to the boundary of the Red Lake Mine in order to explore for other regional foliation-parallel shear zones in Balmer basalt."
Recent deep discoveries at Goldcorp's New Zone in the 4699 Ramp (approx. 200 m north from our target horizon) as well as the NXT Zone at the Red Lake Mine both demonstrate that rocks in the hanging-wall to the HGZ have excellent exploration potential for high-grade gold mineralization. The intersection of a regional Shear Zone in MH1103 that was open to auriferous fluids has similarities to ore-bearing structures at the adjacent Red Lake Mine. This suggests that this regional Shear Zone has good potential for higher gold-grades within the Headway Gold Property (Figure 3).
