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Kintyre Rocks Project, Western Australia (Mega 100%)
The Kintyre Rocks Project, in the East Pilbara area of Western Australia, comprises 225km2 of ground surrounding the lease containing Cameco/ Mitsubishi’s 79 million pounds U3O8 Kintyre uranium resource, and also exploration ground held by Cameco. Within Mega's ground are geological settings analogous to that of the Kintyre deposit. In January 2007, Mega announced that it had received approval under Native Titles Legislation from the Western Desert Lands Aboriginal Corporation to commence exploration on the property - refer to the Mega news release of February 15 2007.
In May 2008, Mega commenced a 5000 meter RC drilling programme to test the interpreted southeastern strike projection of the Kintyre host rocks under considerable cover of recent aeolian sands and Permian sediments. The initial results were encouraging as eight holes, drilled three kilometers southeast of the Kintyre resource, intersected Kintyre host lithologies of graphitic and chloritic schists with minor sulphide disseminations. There was, however, no significant radioactivity detected in the holes. Refer to Mega's news release of June 17 2008 for further details.
In 2008/2009 Mega conducted gravity, EM and magnetics surveys of its tenement holding located over the SE projection of the Kintyre host rocks. Three targets were selected for drill testing, Area 1 (potential Kintyre host stratigraphy at depth), Gleneagles (gravity high plus EM and magnetic anomalies), Southern Cross (EM and magnetics), all of which occur within 6km of the Kintyre resource - for further details refer to Mega's news release of September 22 2010.
In November 2010, Mega announced that it had received encouraging results in its drill testing of the Area 1 prospect. Three holes covering a 700m cross-section intersected the Kintyre resource host stratigraphy (Cassandra Member) beneath 32-77m of Permian glacial tillite sediments. At the Gleneagles prospect, the drilling indicated that the geophysical anomalies were sourced by relatively dense ultramafics and granite gneisses with magnetite layers rather than Kintyre host rocks. Due to access problems, drilling of the Southern Cross prospect was deferred to 2011 - for further details refer to Mega's news release of November 23 2010.
Follow up drilling planned for 2011 was deferred until 2012 due to budgetary constraints.
Kintyre East Joint Venture, Western Australia (Mega 50%, Burey Gold 50%)
The Kintyre East Joint Venture ground comprises four Exploration Licence applications (total 720 km2) located around 130km southeast of the Kintyre Rocks project. The tenements cover several airborne radiometric anomalies located along an extensive palaeochannel system containing potential for calcrete-style uranium deposits similar to Lake Maitland.
Coolbro Creek Project
The Coolbro Creek Project, located some 40 km northeast of the Kintyre uranium resource, comprises one Exploration Licence application with an area of 181 km2. The ground is covered by sand dunes and sediments of the Great Sandy Desert, but based on its proximity to outcropping geology to the southwest and on a broad regional extrapolation, it is interpreted to be underlain by basement rocks similar to those hosting the Kintyre uranium deposit at depths of the order of 100-150 meters.
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