Mega Uranium Mining & Exploration in  Canada, Cameroon, Australia, Argentina, Bolivia, Columbia and Mongolia.

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Mega Uranium Ltd.
211 Yonge Street, Suite 502
Toronto, Ontario, Canada
M5B 1M4

Phone 416.643.7630
Fax 416.941.1090
 

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2009 News Releases

Mega Uranium Provides Update on Exploration Activities in Cameroon


March 3, 2009

Kitongo drill intersections include 3.4 meters @ 0.10% U3O8, , 3 meters @ 0.13% U3O8 and 41.9 meters @ 468 ppm U3O8

Grab sample results of 324 - 8293 ppm U3O8 at Salaki

Toronto, Canada, March 3, 2009 - Mega Uranium Ltd. (MGA-TSX) ("Mega") is pleased to provide an update on exploration activities in its Kitongo Project in Cameroon. Mega owns 92% of Mega Uranium Cameroon plc, which has three projects consisting of six concessions with a total area of 4654 km2. A map showing the locations of Mega’s property interests in Cameroon can be found in its website www.megauranium.com.

Kitongo Project

The Kitongo Project in central Cameroon comprises four adjacent concessions - Poli (1018km2), Salaki (811km2), Voko (402km2) and Gouna (347km2).

Kitongo Concession

1. Kitongo Prospect

In the Kitongo Concession, a first pass program of 11 diamond core holes (total 1253 meters) was drilled along a 300 meter strike length of the ENE-trending Kitongo Fault Scarp, which marks the contact between the Kitongo Granite and Poli Group metasediments of Middle Proterozoic age. The holes were drilled at various angles and azimuths to investigate the geological and structural controls of uranium mineralisation intersected in two adits and 14 drill holes in 1983/84 by the German Federal Institute for Geoscience and Natural Resources. Of Mega’s 11 holes, 9 made intersections of >1 meter intervals at a 200 ppm U3O8 cut-off, as listed in Table 1 below. Of these, the best intersections were 19.9 meters @ 552 ppm U3O8 in hole KIT001, 12.8 meters @ 506 ppm U3O8 in KIT005 and 41.9 meters @ 468 ppm U3O8 in KIT006. At a 500 ppm U3O8 cut-off, 7 holes made intersections of >1 meter (Table 2), the best intersections being in hole KIT005 (3.4 meters @ 0.10% U3O8 and 3.0 meters @ 0.13% U3O8) and hole KIT006 (1.8 meters @ 0.18% U3O8 and 1.6 meters @ 0.10% U3O8). As yet the true widths represented by these intersections have not been determined.

The holes show that the uranium mineralisation is concentrated in zones of albitised granite lying parallel to the ENE-trending Kitongo fault and also along crosscutting faults of a NW trend. Drilling programs are now being planned to test these two targets elsewhere along the Kitongo Fault scarp.

2. Mayo Nielse Prospect

In the Mayo Nielse prospect, located 7 kilometers north of the Kitongo mineralisation, 6 diamond core holes (total 996.6 meters) were drilled from two drill pads, 250 meters apart, to investigate an airborne radiometric anomaly within a sequence of Upper Cambrian/Lower Ordovician conglomeratic sandstones and conglomerates which dip southwards at 35-40o. The only intersection of any economic significance was 15 meters @ 297 ppm U3O8 from 68.4-83.4 meters in hole MN004, which was drilled from the western drill pad. Further drilling is planned to test the possible extension of this mineralisation to the west.      

     

Salaki Concession

In the Salaki prospect, located 22 kilometers WSW of the Kitongo mineralisation, a program of geological mapping and ground radiometrics was conducted over a prominent radiometric anomaly detected in Mega’s detailed airborne magnetic-radiometric survey of the area in 2007. The work delineated a 500 meter long zone of elevated radiometric values of 100 to 12000 cps in brecciated basic volcanics and volcaniclastic sediments along a major NW-trending fracture. Ten representative grab samples of the various lithologies in the prospect assayed in the range 324-8293 ppmU3O8. A program of trenching is underway to provide more detailed information for the design of drill holes. 

Notes

1All the samples from the Kitongo, Mayo Nielse and Salaki prospects were analysed by inductively coupled plasma spectrometry at the OMAC Laboratories (a member of the Alex Stewart Assayers Group) in Loughrea, County Galway, Republic of Ireland.

Stewart Taylor, Mega’s President and Qualified Person under NI43-101, is responsible for this release and has verified the contents disclosed.

About Mega Uranium

Mega Uranium Ltd. is a Toronto-based mineral resources company with a focus on uranium properties in Australia, Canada, Argentina, Bolivia, Colombia, Mongolia and Cameroon. Further information on Mega can be found on the company’s website at www.megauranium.com. Mega Uranium’s Ben Lomond and Maureen uranium resources are subject to a Queensland State Government policy that presently prohibits the mining of uranium.

For further information, please contact:

Investor Relations
Mega Uranium Ltd.
Richard Patricio
VP Corporate and Legal Affairs
T: (416) 643-7630
info@megauranium.com                                              
www.megauranium.com

Cautionary Statement Regarding Forward-Looking Information

Certain information contained in this press release constitutes "forward-looking information", which is information regarding possible events, conditions or results of operations that is based upon assumptions about future economic conditions and courses of action. All information other than matters of historical fact may be forward-looking information. In some cases, forward-looking information can be identified by the use of words such as "seek", "expect", "anticipate", "budget", "plan", "estimate", "continue", "forecast", "intend", "believe", "predict", "potential", "target", "may", "could", "would", "might", "will" and similar words or phrases (including negative variations) suggesting future outcomes or statements regarding an outlook.

By its nature, forward-looking information involves known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or industry results, to differ materially from those expressed or implied by such forward-looking information. Some of the risks and other factors that could cause actual results to differ materially from those expressed in the forward-looking information contained in this release include, but are not limited to: the possibility that the necessary shareholder and regulatory approvals will not be obtained in a timely manner or at all, and that other conditions to completion of the acquisition will not be satisfied; and risks related to the inherent uncertainty of mineral exploration and development activities generally, including political and regulatory risks.

Although we have attempted to identify important factors that could cause actual results or events to differ materially from those described in the forward-looking information, readers are cautioned that this list is not exhaustive and there may be other factors that we have not identified. Readers are cautioned not to place undue reliance on forward-looking information contained in this release. Forward-looking information is based upon our beliefs, estimates and opinions as at the date of this release, which we believe are reasonable, but no assurance can be given that these will prove to be correct. Furthermore, we undertake no obligation to update or revise forward-looking information if these beliefs, estimates and opinions or other circumstances should change, except as otherwise required by applicable law.

All forward-looking information contained in this release is expressly qualified by this cautionary note.