Canadian Mining Journal

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GOLD: Mega Precious has hopes for new regional structure at Monument Bay

MANITOBA – Mega Precious Metals of Thunder Bay, ON, said drilling has identified a new regional structure called the South Limb shear zone (SLSZ) at the Monument Bay project. Widely spaced holes intersected extensive alteration with...



MANITOBA – Mega Precious Metals of Thunder Bay, ON, said drilling has identified a new regional structure called the South Limb shear zone (SLSZ) at the Monument Bay project. Widely spaced holes intersected extensive alteration with consistent anomalous gold values over a strike length of more than 20 km.

Drilling in the SLSZ has discovered a new style of mineralization, a fuchsite-quartz-pyrite-molybdenite veining in altered volcanics and Timiskaming-type metasedimentary rocks, according to Mega Precious. Localized fuchsite alteration appears to be unique to the SLSZ and occurs proximal to gold mineralization.

The new SLSZ is 1 km south of and parallel to the Twin Lakes shear zone. The TLSZ is known to host more than 2.2 million oz of gold in measured and indicated resources and 900,000 inferred oz.

Click here to view a regional map outlining the multiple shear zones at Monument Bay.