Megawatt files NI 43 101 Technical Report for the Tyr Project, NSW and Century South Project, Queensland, Australia
Megawatt files NI 43 101 Technical Report for the Tyr Project, NSW and Century
South Project, Queensland, Australia
Vancouver, British Columbia--(May 7, 2021) - Megawatt Lithium and Battery Metals Corp.
(CSE:MEGA) (FSE: WR20) (OTC PINK: WALRF) (the "Company" or "Megawatt") is pleased to announce
that it has completed and filed on SEDAR an NI 43 101 Technical Report for the Tyr Silver Project in
New South Wales, Australia and Century South Project in Queensland, Australia. The report has been
prepared by Xplore Resources Pty Ltd (“Xplore Resources”) of Brisbane, Queensland, Australia. The
Qualified Person for the Technical report is Matthew Stephens FAIG.
Highlights:
The Tyr project is located about 20km south-west via sealed road from the town of Tenterfield. The
tenement covers 100 units for an area of 299km2.
The Tyr Project area is located over three (3) main Sub-provinces of New England Orogen;
• Central Block, which is mainly comprised by conglomerate, sandstone and siltstone.
Including some felsic igneous rocks and quartzite units;
• Tablelands Complex, which mainly comprises granite and mineralised related material;
• New England Orogen Granites (dominant lithology of porphyry and basalt).
The Tyr tenement hosts a large number of mineral occurrences according to evidence from historical
mines within the exploration licence area. These activities were mostly focused on silver, lead, zinc,
arsenic and tin. The Tyr exploration area contains a significant amount of silver occurrences which
strikes north-west. Clive group contains major occurrences such as the Ecuador deposit consisting of
4710ppm silver and Torny Mine consisting of 1420ppm silver.
The Tyr project area has over 145 mineral occurrences recorded in the tenement. Those occurrences are
hosted by the Early Permian Bondonga beds form two main clusters:
• the Mole River group in the northern part of the tenement and
• the Clive group in the southern part.
At these two areas, the mineral occurrences are structurally controlled and are related to the
emplacement of the Mole Granite, which is classifies as a I-type Sn-W granite. Metal zonation around
the granite is well developed, with proximal Sn-W, grading outwards from the intrusion to distal
polymetallic Cu-Pb-Zn-Ag mineralisation. Evidence suggests that the Tyr Project Area is underexplored
and there is significant potential for structurally controlled silver rich polymetallic vein/lode systems.
Obvious areas that warrant further exploration include the areas containing the Mole River and Clive
group of mineral occurrences. Both of these areas are strongly mineralised and detailed field mapping
and surface geochemical sampling suck as rock chip and soil sampling, followed
by ground geophysical surveys including IP or even sub-audio magnetics (SAM).
Surface geochemical surveys within the Tyr project area have been completed by most of the past
explorers. The geochemical surveys have included rock chip/grab, stream sediment, panned
concentrate, soil sampling programs and high silver grades have been returned.
Significant silver assays from adits, shaft, and other workings, significant silver assays from surface
samples, and significant assays from drilling samples have all been recorded. The mineral occurrences
are structurally controlled and are associated with joints, faults, shear zones and lithological boundaries
that have controlled emplacement of mineralising fluids.
Despite the large number of mineral occurrences and historical workings and significant silver assays up
to 4,710g/t, there has been little drilling in the Tyr Project area. While past exploration focused almost
exclusively on the historical working, there was little emphasis on
testing the strike potential of the structures and/or lithologies that control mineralisation. Modern
exploration techniques are proposed to fully exploit the potential of the tenement, particularly the
mineralised clusters of historical silver-zinc-lead mines.
The Century South tenement is located approximately 204km NW of the town of Mount Isa, 122km NE
of the town of Mount Isa Camooweal and 61km SW of the town of Mount Isa Gregory.
Generally, the Century South tenement has been sparsely sampled considering its proximity to the
major Zn-Pb massive sulphide deposit of Century Mine. Crucially, the tenement covers land on the exact
same major fault strike as the mine. The major fault complex of the Termite
Range Fault crosscuts the centre of the tenement NW-SE. This faulted area would be the likely source of
mineralisation across the tenement and should be explored and further defined. These constituents
conform to a genetic model alluding to a potential deposit indicative of other massive sulphide deposits
found around the world.
The Grevillea gossan was the subject of an Honours Thesis by Hann (1999), who found that Tl, Pb, Si, and
Fe are surface indicators of mineralisation at the Grevillea deposit. Hann (1999) found there were two
types of gossans present overlying the massive pyrite zone:
• the jarositic limonites and
• the hematite limonites.
There are untested (drilling) surface geochemical anomalies to review.
Enough data from stream sediment, rock chip and soil assays, suggest that elevated levels of zinc and
lead do exist within the tenement area. Recent airborne EM surveys and subsequent exploration drilling
programs conducted by peer companies targeting the mineralised bearing unit of the Riversleigh
Siltstone Formation have yielded promising but ultimately uneconomical levels of Pb and Zn. However,
the results have been auspicious enough to ramp up exploration in the area immediately to the west of
Century South. There are several outcrops visible from satellite imagery that could be easily inspected.
Identifying boundaries this way may be a cost-effective way of defining lithologies. This may be of
benefit as some research suggests; particularly at Grevillea, that the mineralisation in the area is
stratabound.
The thickness of the regolith is substantial in the southern areas, adjacent to Grevillea, west of Century
South. The regolith cover overlaying the mineralisation bearing units can present multiple obstacles.
Deeper penetrating EM methods such as Magneto-Telluric (MT) can be used but at a greater cost.
Ultimately, this factor may be unavoidable as exploration progresses deeper into the bedrock.
Therefore, targeting the more oxidised gossans and obvious outcrops would be the quickest way to gain
preliminary knowledge of the likelihood of mineralisation in the area. A suggested exploration regime of
starting at highlighted areas of magnetic anomalies with elevated stream sediments, may allow more
targeted sampling.
Qualified Person
Mr. Geoffrey Reed (MAusMM (CP)) (MAIG), Consultant for the Company, is a qualified person as defined
by National Instrument 43-101 – Standards of Disclosure or Mineral Projects and has reviewed the
scientific and technical information in this press release.
About MegaWatt Lithium and Battery Metals Corp.
MegaWatt is a British Columbia based company involved in the acquisition and exploration of mineral
properties in Canada. The Company holds a 100% undivided interest, subject to a 1.5% NSR on all base,
rare earth elements and precious metals, in the Cobalt Hill Property, consisting of eight mineral claims
covering an area of approximately 1,727.43 hectares located in the Trail Creek Mining Division in the
Province of British Columbia, Canada.
Additionally, the Company has acquired a 60% interest in a company that indirectly holds a 100%
interest (subject to a 2% NSR) in two prospective silver-zinc projects in Australia, being the Tyr Silver
Project and the Century South Silver-Zinc Project (see press release dated August 13, 2020), an indirect
100% interest (subject to a 1% NSR) in and to certain mining tenements in Northern Territory and New
South Wales, Australia prospective for nickel-cobalt-scandium and rare earths and a 100% interest
(subject to a 2% NSR) in and to the Route 381 Lithium Property, comprised of 40 mineral claims located
in James Bay Territory, north of Matagami in the Province of Quebec, covering 2,126 hectares (see press
release dated February 3, 2021).
Investors can learn more about the Company and team at https://megawattmetals.com.
FOR FURTHER INFORMATION PLEASE CONTACT:
David Thornley-Hall Chief Executive Officer
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