GEOMEGA INTERSECTS 1.38 % TREO OVER 512.7 METERS AT MONTVIEL, 300 METERS WEST OF HOLE MVL-10-01, INCLUDING 2.28% TREO OVER 51.8 METERS.
PRESS RELEASE
For immediate distribution
MONTREAL, February 14, 2011 – GEOMEGA RESOURCES INC. (« GéoMégA ») is pleased to report the results of hole MVL-10-03 which intersected 1.38% total rare earth oxides (TREO) over the entire 512.7 meter core length from 21.30 meter to 534 meters, including 2.28% TREO over 51.8 meters from 132 meters to 183.8 meters.
MVL-10-03 (azimuth 330 degree, dip -55 degree) was collared on strike, 300 meters west of MVL-10-01 which intersected 1.24% TREO over 480 meters. Both drill holes, which started and ended in mineralization, are within a magnetic low in the core of the carbonatite complex.
Neodymium oxide continues to be an important component of the TREO with an average grade of 0.24% (2.4 kg per tonne) over the 512.7 meter core length of MVL-10-03 and 0.34% over 51.8 meters from 132 to 183.8 meters.
Praseodymium oxide averages 0.074% over 512.7 meters and 0.11% over the 51.8 meters high grade section.
The distribution of rare earth elements with significant values starting with the most abundant is as follows: Cerium, Lanthanum, Neodymium, Praseodymium, Samarium, Gadolinium, Europium and Dysprosium.
As well, niobium values are more consistent and widespread in MVL-10-03 with 0.105% Nb2O5 over 364.5 meters from 148.5 meters 513 meters.
An apatite rich zone was also intersected at the start of the hole returning 5.41% P2O5 over the first 58.40 meters of core from 21.3 meters to 79.7 meters.
“The results of MVL-10-03 confirm the potential to define a large, near surface REE deposit, with possible significant niobium and phosphate by-products. We will continue to define the extent of the mineralised zone with step out drilling along strike to the west and east, and on section to the north and south. ” 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.
For more information contact:
Simon Britt
President and CEO
GéoMégA
T: 450-465-0099
E: info@ressourcesgeomega.ca