GEOMEGA RESOURCES INC. INTERSECTS 1.24% TREO OVER 480 METERS AT MONTVIEL INCLUDING 2.03% TREO OVER 39.4 METERS
For immediate distribution
MONTREAL, February 8, 2011 – GEOMEGA RESOURCES INC. (« GéoMégA ») is pleased to announce the first drill results from its Phase I drilling program. Hole MVL-10-01 started and ended in mineralized carbonatite intersecting 1.24% total rare earth oxides (TREO) over its entire 480 meters core length, from 21 to 501 meters, including a high grade section of 2.03% TREO over 39.4 meters from 266.6 to 306 meters.
Hole MVL-10-01 (azimuth N330°, -55° dip) was collared on section 2+00W, to test a magnetic low in the core of the carbonatite complex. The stratigraphy is interpreted to dip steeply to the SE. True thickness is estimated to be 80 % core length.
Neodymium and Praseodymium oxides average 23% of the TREO over the 480 m core length. The distribution of middle to heavy rare earth oxides (MHREO) content represents up to 22% of TREO in a 7.55 meter core length section from 39.00 to 46.55 m. MHREO is defined as samarium through lutetium plus yttrium. Cerium, Lanthanum and Neodymium are the most abundant of the total rare earth elements.
In addition to TREO, Niobium oxide values were also intersected in the hole with best intersection returning 0.158% Nb2O5 over 22.05 m from 280.95 to 303.00 m.
The diamond drilling program is now well underway with 2,800 m completed and drilling will continue until the spring break up. Five (5) drill holes have been completed to date. Hole MVL-10-03 was collared on strike, 300 meters west of hole MVL-10-01 on section 5+00W. Holes MVL-11-04 and 05 were collared 200 meters north of hole MVL-10-01 on the same section 2+00W. Hole MVL-11-06 was collared 135 meters south of hole MVL-10-03 on section 5+00W.
« This is a great start for GéoMégA. The Montviel property is located in Quebec, one of the world’s best exploration and development jurisdiction, and is easily accessed by road. The Montviel logistics allows the project to be fast tracked. » comments Simon Britt.
The Montviel property, located 200 km north of Val-d’Or in the Abitibi region of Quebec, is underlain by 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.
Assaying and Quality control
All analysis is carried out by ALS Global at their Vancouver laboratory. The analysis conducted on all samples include lithium metaborate fusion, followed by ICP analysis with mass spectrometry finish.
Quality assurance and control is done through the systematic insertion of REE standards, blanks, and duplicates.
Kateri Marchand, M.Sc., P.Geo, is a qualified person as defined under NI 43-101 guidelines and has reviewed the technical information contained in this press release.
About GéoMégA (ressourcesgeomega.ca)
GéoMégA is a Quebec based mineral exploration company focused on the discovery and development of economic REE deposits. GéoMégA’s exploration properties are located in the Abitibi and Upper Laurentian regions of Quebec.
Currently, GéoMégA has 15,583,253 common shares outstanding and $2.7M in cash.
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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