Megado Minerals Limited has recently acquired historical geophysics data from a 2011 survey of its North Fork Rare Earth Project. The survey includes a detailed airborne (helicopter) magnetic and gamma-ray spectrometric (radiometric: U, Th, K, TC) airborne survey over a large portion of the North Fork project area. A total of 631-line km was flown at an average traverse line spacing of 100m, average flight height 38m.

To date, field reconnaissance has identified a strong north-west trending structural fabric throughout the (ca. 10km) North Fork project area. This newly acquired geophysics provides a level of detail not previously seen.

The data strongly supports field observations and provides new areas not previously identified. This detail will greatly assist the ongoing exploration program. Carbonatite source intrusive bodies are generally non-magnetic in relation to their host rocks, as such show low Total Magnetic Index (TMI) values.

Interpretation of the TMI data appears to show several possible carbonatite intrusive centres. These centres occur at several known prospects including Silver King, Lower Lee Buck, and Cardinal. However, they also occur at several new, previously unidentified prospect areas.

Several structural trends are observed in conjunction with the carbonatite intrusive centres. These structures appear to either radiate from the centres and/or occur in parallel with them and where they have been mapped and sampled, appear coincident with REE mineralised carbonatite dykes at surface (e.g., Monazite Queen, Silver King, Upper Lee Buck, Lower Lee Buck, Jackpot, and Cardinal). The geophysics clearly shows multiple, parallel, and radiating structures with significant combined strike extent throughout the North Fork property, and these will form the focus for upcoming field work to ground truth these structures more completely.

Megado is also looking at the possibility of deploying ultra-high-resolution drone-based remote sensing survey to further help identify carbonatite hosted REE mineralisation within the project area. This work needs clear groundcover and so will be commenced once the snow has melted across the project area. In addition, Megado continues to work with the US Forest Service to permit its maiden drilling program on the Silver King Prospect at North Fork.

The results of the geophysics gives further confidence that Silver King is a prospective area to drill, in addition to recent high grade sample results. Furthermore, once the snow has melted and field access is possible, boots-on-the-ground reconnaissance will continue, with a better focus from geophysics and drone survey. An area of specific interest to follow-up in more detail is Lower Lee Buck.

As previously reported recently acquired historical rock sample assay results here show consistently 3-10% TREE over a strike length of ca. 400m, with the newly acquired geophysics showing that structure appears continuous along strike for over 1.5km.