Under a March 2006 Agreement, Mega can earn 75% interest in the uranium-molybdenum content of properties held by Intrepid Mines in Bolivia through total expenditure of $US500,000 within three years. In addition, Mega is cooperating with Intrepid in the generation and acquisition of other uranium properties in Bolivia. Joint Venture operations are being managed by Intrepid Mines' personel from an office in Santa Cruz in eastern Bolivia.
The 11 claim blocks currently held within the Altiplano, totaling 78 km2, cover Miocene ignimbritic volcanics with potential for structurally controlled uranium mineralisation similar to the Macusani Belt of southern Peru.The 12 claim blocks held in the Precambrian Belt, totaling 117.5 km2, have potential for unconformity-related uranium similar to the Athabaska Basin in Canada and the Pine Creek area of Northern Territory, Australia. Fourteen other claim blocks in the Precambrian Belt (total area 94.8 km2) are currently under application.
In October 2007, the Mega/Intrepid Mines Joint Venture increased its property interests in Bolivia through an option agreement with a private vendor regarding the 6.25 km2 Ana Lis claim, which covers known uranium mineralisation within the Manomo carbonatite intrusion in the Precambrian Belt. Under the agreement, the JV can earn a 96% interest in the claim through exploration expenditure of $US50,000 by October 2008 and total cash payments of $US60,000 by October 2009.
In late 2006/early 2007, Mega's consultants and geological staff processed and interpreted the available airborne magnetic-radiometric data of Intrepid's ground in the eastern Precambrian belt of the country. The work identified several interesting radiometric anomalies and prospective geological settings with potential for unconformity-related uranium and other uranium deposit styles. Field checking of several areas of interest is ongoing.