GEOMEGA RESOURCES INC. INITIATES 10,000 METERS DRILL PROGRAM AT MONTVIEL
For Immediate distribution
MONTREAL, December 7, 2010 – GEOMEGA RESOURCES INC. (« GéoMégA ») (TSX-V: GMA) announces it has initiated a 10,000 meters drill program at Montviel. The winter program will include section drilling through the 3.1 km2 core of the carbonatite complex, as well as testing other satellite targets outlined from geophysical and geochemical surveys completed in previous years.
The Montviel property, located 200 km north of Val-d’Or in the Abitibi region of Quebec, encompasses the Montviel carbonatite complex which extends over an area of 32 km2 making it one of North America’s largest carbonatite. GéoMégA has a staged option agreement with NioGold Mining Corp. (TSX-V: NOX) whereby it can earn up to 100% interest in the property. See details of the agreement in the November 11, 2010 press release.
The drill program will test the Montviel carbonatite complex for rare earth elements (REE) and niobium concentrations. Historical drilling performed in 2002, 8 shallow holes totalling 1,245 meters, revealed strong potential for these strategic minerals. The world’s current most prolific REE and niobium deposits, namely Bayan Obo (REE, China), Mountain Pass (REE, USA), Mount Weld (REE, Australia) and Araxa (Niobium, Brazil) are all hosted in carbonatites.
« The ultimate goal of GéoMégA is to identify a large open pit carbonatite-hosted REE deposit. The size of the complex combined with road accessibility makes Montviel a target of choice. » commented Simon Britt.
Mrs. Kateri Marchand, MSc, P. Geo., will supervise the drill campaign. Mrs. Marchand has over 20 years of experience in exploration project management on several advanced projects. She has worked through her career in diverse geological settings in Canada, Africa and Mexico.
« We are very pleased to welcome Kateri to the GéoMégA team. She will be working as the qualified person on the Montviel project ensuring that all exploration activities are conducted under 43-101 guidelines. » added Simon.
About GéoMégA (ressourcesgeomega.ca)
GéoMégA is a Quebec based mineral exploration company focused in the exploration of rare earth elements. GéoMégA’s current mineral portfolio is located in the Abitibi and Upper Laurentians regions of Quebec.
Currently, GéoMégA has 14 257 856 common shares outstanding.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture exchange) accepts responsibility for the adequacy or accuracy of this release.
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