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Market: TSX
Sector: General Mining
Epic: TSX:MGA
News: Latest news
Web Site: Mega Uranium
Other Articles: 10-08-200908-07-200912-03-2009

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Thursday September 02, 11:00Baobab Resources identifies distinct ore domain at Tete’s South Zone

Baobab MD Ben James said the latest drilling results from the Tete project's South Zone characterise a distinct, higher mass recovery, ore domain.

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Thursday September 02, 08:15Indonesia edges closer toward uranium mining and nuclear power

After nearly five decades of national debate on the issue, Indonesia's central government may finally be ready to develop a national nuclear policy, which may lead to domestic uranium mining.

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Wednesday September 01, 01:25Green Dragon Gas reports significant growth as China’s thirst for energy continues

China's thirst for energy resources has continued with an increased focus on domestic supplies of gas, Green Dragon Gas chairman Randeep Grewal said today. In the company's interim results, [...]

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Mega Uranium

Mega Uranium

Mega Uranium Ltd. is a Canadian mineral resources company with a focus on uranium projects. It has uranium resources in Australia and uranium exploration projects in  Australia, Argentina, Bolivia, Colombia, Mongolia, Canada and Cameroon. In addition, it has interests in base and precious minerals exploration properties in Canada and Latin America and a copper-nickel exploration project in Guinea, West Africa.

Wednesday, July 08, 2009

Mega Uranium announces resource increase and upgrade at Lake Maitland, Western Australia

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Mega Uranium Ltd (TSX: MGA) said a revised resource estimate for its Lake Maitland deposit in Western Australia has resulted in an increase in the contained uranium and an upgrade of the bulk of the resource from inferred resource to the indicated resource status.

At a 100 parts per million triuranium octoxide cut-off, the contained uranium in the new resource of 23 million pounds U3O8 indicated and 2.2 million lbs U3O8 inferred is approximately 6 percent higher than in the previous inferred resource estimate.

At a 200 ppm U3O8 cut-off, the contained uranium in the new resource of 19.9 million lbs U3O8 indicated and 1.6 million lbs U3O8 inferred is approximately 17 percent higher than in the previous inferred resource of 18.3m lbs U3O8.

At a 500 ppm cut-off, the contained uranium in the new resource of 11.5 million lbs U3O8 indicated and 0.6 million lbs U3O8 inferred is approximately 16 percent higher than in the previous inferred resource.

Chairman and CEO Sheldon Inwentash commented: "The increase and upgrade at Lake Maitland confirm the quality of the resource and enhance the project economics. With the support of our Japanese partners, JAURD and ITOCHU, Mega is well on schedule to meet our target of bringing Lake Maitland into production in late 2011."

Under agreements signed in June 2009, the Japan Australia Uranium Resources Development Company Ltd (JAURD) and ITOCHU Corp can acquire an aggregate 35 percent interest in the Lake Maitland resource through staged payments totaling US$49 million.

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