Mega has acquired the largest holdings of prospective ground in the two areas of Argentina acknowledged by the National Atomic Energy Commission of Argentina (CNEA) as having the country’s best uranium discovery potential – the Cretaceous San Jorge Gulf Basin of Chubut Province and the Sierra Pintada Uranium district in Mendoza Province. The two areas contain Argentina’s largest known uranium deposits, the 10.3 Mlbs U3O8 Cerro Solo resource in Chubut Province and the 30Mlbs U3O8 Sierra Pintada resource in Mendoza Province.
In both areas, Mega has acquired prime exploration ground in the vicinity of these resources, covering uranium showings, prospective geological settings, and radiometric anomalies detected by the CNEA in airborne surveys conducted in the 1960s and 1970s. Current ground holdings and farm-in interests total 3510 km2 in the Patagonia Project and 1048 km2 in the Sierra Pintada district.
In April/May 2006, Mega conducted a reconnaissance RC drilling programme in the Patagonia Project to investigate the projected extension of the mineralized zone eastwards from the Cerro Solo uranium deposit. The programme, comprising 26 widely spaced holes of 42-144 metre depths, included intersections of 2m @ 0.11% U3O8 and 1m @ 0.21% U3O8.Mega has also obtained encouraging results in ground radiometric surveys, geological mapping, rock chip sampling and trenching/pitting programmes in the Sierra Cuadrada, Laguna Salada and Mirasol concession areas of the Patagonia Project. In these areas the work has delineated several near surface stratiform mineralised horizons containing significant uranium mineralisation over extensive areas in the lower part of the Cretaceous Chubut Group.
In May 2007, Mega expanded its exploration operations in Argentina with applications for three exploration permits totaling 208 km2 in Salta Province, and four exploration permits covering a total of 375 km2 in Catamarca Province. In June 2007, applications were lodged for three exploration permits in San Luis Province with a total area of 290 km2. All these properties contain radiometric anomalies and prospective geological settings identified in Mega's reconnaissance surveys of these areas.
ZDROJ: Mega Uranium Ltd.