Business
Megawatt Lithium and Battery Metals Reports Encouraging Magnetic Survey Results at Tyr Property in Australia
VANCOUVER, BC, Aug. 30, 2022 /CNW/ - Megawatt Lithium and Battery Metals Corp. (CSE:MEGA) (FSE: WR20) (OTCQB: WALRF) (the " Company" or "Megawatt") has received
About this update from Megawatt Lithium And Battery Metals Corp.
[{"type":"text","content":" VANCOUVER, BC, Aug. 30, 2022 /CNW/ - Megawatt Lithium and Battery Metals Corp. (CSE:MEGA) (FSE: WR20) (OTCQB: WALRF) (the \" Company\" or \"Megawatt\") has received the final results report from the drone magnetic survey at its Tyr Project in New South Wales, Australia (Figure One). The tenement covers 100 units over an area of 299 km2. A drone magnetics survey was completed by independent contractor AirGeoX in mid-July 2022 over an area covering the old Burra and Torny Silver workings. The survey totalled 123-line km was flown at a height of 35m over a 20m-by-20m grid pattern. Mapping and rock chip sampling over the survey area prior to the magnetics survey showed geochemical dispersion on the surface associated with base metal mineralisation in and around both of the old silver workings. The base metal mineralisation is polymetallic in nature and the mineralisation is formed in multiple vein arrays believed to be mostly parallel to sub-parallel to the main controlling structure at each specific location. The predominantly silver lead zinc base metal mineralisation is believed to be structurally controlled and associated with three main structures whose orientations are NW, SE and EW. It has been postulated that at the intersection of at least two, and sometimes all three of these structures, a loci were formed for the accumulation of significant mineralisation. Highlights of Megawatt's 2020 and 2021 sampling programs of for both the Torny and Burra Prospects include the following assay results: 504g/t Silver, 0.22% Cu, 6.44% Pb and 9.57% Zn, 8220 ppm Sb – grab sample 389g/t Silver, 0.63% Cu, 2.64% Pb and 10.95% Zn – grab sample 355g/t Silver, 0.04% Cu, 1.70% Pb and 0.14% Zn – grab sample 43g/t Silver, 0.04%Cu, 1.22% Pb and 12.45% Zn -Burra adit The Torny Prospect has minor copper mineralisation associated with the silver-lead-zinc as well as significant antimony (Sb). The Burra Prospect has higher copper and zinc than Torny but less lead and negligible antimony. The data used in the above sample results were derived from recent grab sampling of old workings where both mineralised looking and non-mineralised looking material were selected based on the overall degree of representation of each type of material on the old dumps. Mapping of the area suggested that the surface expression of these structures ...