GéoMégA announces final results of Phase 1 at Montviel. Highlights include 2.15% TREO over 250.65 m in MVL 11-18 and 1.51% TREO over 520.65 m in MVL 11-15.
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Montreal, August 2, 2011 – Geomega Resources Inc. (GéoMégA) (TSX.V: GMA) is pleased to report the final assay results from its Phase 1 drill program on the Montviel property. Highlights include 2.15% TREO over 250.65 meters in hole MVL 11-18 from 133.55 meters, 1.51% TREO over 520.65 meters in hole MVL-11-15 from 28.35 meters and 1.31% TREO over 593.5 meters in MVL-11-16 from 27.5 meters.
The Phase 1 drill program consisted of 20 holes (18 in the Core Zone) totaling 10,065 meters. The rare earth mineralization is now confirmed over a strike length of 700 meters, a horizontal width up to 420 meters and a vertical depth up to 550 meters. The average grade increases to the West. The mineralization remains open to the North East, South West and at depth. Several holes ended in mineralization.
Neodymium oxide approximates 18% of the TREO in the Core Zone.
Significant REO assay results within the Core Zone and both exploration holes are listed in Table 1 and 2 respectively. Table 3 lists significant assay results for niobium and phosphate oxides.
“These last set of results confirm Montviel’s world class content in neodymium. Montviel’s location, in Quebec (Plan Nord eligible), road accessible, nearby electric power and rail networks, is equally world class. Our focus has shifted towards project economics while we pursue the definition of the deposit. Neodymium demand is fundamentally solid, combined with praseodymium and potential niobium and phosphate by-products, Montviel should compete with the more advanced rare earth projects in the near future.” comments Simon Britt.
A 43-101 compliant resource estimate, based on the first 18 holes in the Core Zone, has been initiated by SGS Geostat Ltd. (“SGS”) of Montreal, Quebec. The property visit was performed last June. The initial resource estimate is expected to be completed in or about September.
Click here to see a map showing the location of diamond drill holes collars.
NI 43-101 Disclosure
Kateri Marchand, M.Sc., P. Geo, a qualified person as defined by National Instrument 43-101, supervised the preparation of the technical information in this news release.
ALS Global conducted all analyses in their Vancouver laboratory. The analyses were done on every sample using lithium metaborate fusion, followed by ICP analysis and completed by mass spectrometry. Specific XRF assays were conducted on niobium. Quality control and assurance were done by systematically using REE standards, blanks and duplicates.
Total Rare Earth Oxides (“TREO”) include: La2O3, Ce2O3, Pr2O3, Nd2O3, Sm2O3, Eu2O3, Gd2O3, Tb2O3, Dy2O3, Ho2O3, Er2O3, Tm2O3, Yb2O3, Lu2O3, and Y2O3.
Middle and Heavy Rare Earth Oxides (“MHREO”) is the sum of the middle rare earth oxides (Sm2O3, Eu2O3, Gd2O3) and the heavy rare earth oxides (Tb2O3, Dy2O3, Ho2O3, Er2O3, Tm2O3, Yb2O3, Lu2O3) plus Y2O3 expressed as a percent out of the TREO content.
GéoMégA, which owns 100% of the Montviel property, is a Québec mining exploration company focusing on finding economically viable deposits of elements needed by Clean Technologies. GéoMégA is committed to meeting the highest mining industry standards and distinguishing itself with its expertise, know-how and its support and respect for local communities and the environment.
GéoMégA currently has 21,735,399 common shares outstanding and is well funded.
The TSX Venture Exchange and its regulatory service provider (as defined in the TSX-V Rules) cannot be held responsible for the accuracy or veracity of this release.
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