MONTREAL, January 31, 2012 – Geomega Resources Inc. (TSX.V: GMA) (“GéoMégA” or the “Company”) announces a metallurgical progress report on its Montviel Rare-Earths (REE) project located 97 km north of Lebel-sur-Quévillon, Québec.
« Preliminary results are encouraging. The team of experts composed of SGS Lakefield metallurgists, Gary Pearse (Qualified Person) and Ahmed Bouajila (GMining) have the important metallurgical task well in hand. The conclusion of these initial tests leave us confident in developing a robust process flow sheet for Q2 2012. » comments Simon Britt, CEO of GéoMégA.
Metallurgical progress report (as at YE 2011)
First flotation trials and Wilfley Table concentration trials were done to investigate responses of the ore to these methods. Flotation concentrates combined with Wilfley Table concentrates made from flotation tailings resulted in a 73% recovery of REE within 51% of the mass (49% of mass rejected to tailings). Optimization of the flow sheet will entail the testing of a number of different flotation reagents, using different dosages and other parameters to further improve on this recovery rate and concentration factor.
Examination of sections of mineralized drill core using Scanning Electron Microscopy (SEM) and microscopic examination of concentrates and tailings indicated that a good liberation should be possible with a coarser grind. A coarser grind would tend to reduce fine REE mineral losses to tailings in both flotation and Wilfley tabling and improve concentrate grade.
Work on coarser material with alternative flotation reagents, further Wilfley Table trials and use of other techniques including electrostatic separation, which has proven effective with some ores, will be part of on-going process development work. A direct hydrometallurgical extraction of REE from a mineralized sample will be done to assess the baseline case.
NI 43‐101 Disclosure
Gary H.K. Pearse, M.Sc., P.Eng., is the Qualified Person who supervised the preparation of the technical information in this news release.
Major Rare Earths discovery for Québec – MONTVIEL NI 43-101: 183.9Mt Indicated averaging 1.45% TREO
The initial NI 43-101 compliant resource calculation at a base cut-off grade of 1% total rare earth oxides (TREO), released on September 29, 2011, totalled 183.9 million tonnes averaging 1.45% TREO in the Indicated resources category and 66.7 million tonnes averaging 1.46% TREO in the Inferred resources category. Montviel has the potential to play a significant near term role in the clean technologies of the 21st century due to its proximity to infrastructure and available labour.
About GéoMégA (ressourcesgeomega.ca)
GéoMégA, which owns 100% of the Montviel Rare Earths/Niobium project, is a Québec mineral exploration company focused on finding economically viable deposits of Minor Metals in Québec. GéoMégA is committed to meeting Canadian mining industry standards and distinguishing itself with its expertise, know-how and its support and respect for local communities and the environment.
29,274,113 common shares of GéoMégA are currently issued and outstanding.
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/s/ « Simon Britt »
Chief Executive Officer
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President and CEO
Cautions Regarding Forward-Looking Statements
This news release contains forward-looking statements regarding our intentions and plans. The forward-looking statements that are contained in this news release are based on various assumptions and estimates by the Company and involve a number of risks and uncertainties. As a consequence, actual results may differ materially from results forecast or suggested in these forward-looking statements and readers should not place undue reliance on forward-looking statements. We caution you that such forward-looking statements involve known and unknown risks and uncertainties, as discussed in the Company’s filings with Canadian securities agencies. Various factors may prevent or delay our plans, including but not limited to, contractor availability and performance, weather, access, mineral prices, success and failure of the exploration and development carried out at various stages of the program, and general business, economic, competitive, political and social conditions. The Company expressly disclaims any obligation to update any forward- looking statements, except as required by applicable securities laws.