MegaWatt Lithium and Battery Metals Corp. (CSE:MEGA) (FSE: WR20) (OTCQB: WALRF) (the "Company", "MegaWatt Metals" or “MegaWatt”) has submitted a work application with the Mineral Lands Division of Newfoundland and Labrador for exploration prospecting and geochemical surveying on the Company’s Benedict Mountains Uranium Property. The property hosts significant uranium resources in Labrador’s Central Mineral Belt. Work and planning are anticipated to commence July 2024 and end in October 2024, and can include “boot and hammer” prospecting, handheld/backpack geophysical surveying, non-excavation channel sampling, and geochemical surveying of ~100 soil and ~100 rock chip samples. MegaWatt’s goals for the work include (1) reproducing historical exploration results, which included 4 uranium showings, grab samples up to 13.8% U3O8, a 1-meter (m) channel sample yielding 7% U3O8, and diamond drill hole intersections that include 5.85 m of .032% U3O8, (2) gaining a deeper understanding of the anomalies previously identified on the property, and (3) generating data that will help identify drill targets.
MegaWatt’s CEO, Casey Forward, commented, “There’s always a lot of paperwork involved in advancing a mining project, so it’s exciting to be ticking this first box in our larger work program for the Benedict Mountains Uranium Property. It’s also exciting to get boots on the ground in this major, prospective mineral jurisdiction that’s home to the massive Michelin deposit. The way we see it, every step we take toward becoming a domestic, clean-energy minerals supplier is an important step, including getting this application submitted.”
For more details on MegaWatt’s work program, see the May 20, 2024 news release here, and for details on historical exploration results, see the May 21, 2024 news release here.
The Benedict Mountains Uranium Property consists of 2 mineral licenses covering an area of ~350 hectares (865 acres) ~200 km (124 mi) NE of Goose Bay, on the east coast of Labrador, Canada, in the Central Mineral Belt, which is home to one of North America’s largest uranium deposits: the Michelin deposit. Michelin contains a total Mineral Resource of 92 million pounds (Mlb) uranium, with 82.2Mlb being in the Measured and Indicated Mineral Resources category.
Details about subsequent work program stages, dates and timelines will be released as they become available.