MONTVIEL, ONE OF THE WORLD MOST SIGNIFICANT DEPOSITS OF NEODYMIUM
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GéoMégA unveils new drilling results: 544.6 meters at 1.41% TREO
Montréal, June22, 2011 – Géoméga Resources Inc. (GéoMégA) is pleased to announce new drilling results conducted on the Montviel property in Abitibi, Québec. The new data gathered from assays of diamond drill holes (DDH) MVL-11-09 and MVL-11-10 confirm that the mineralized zone of rare earth elements extends 200 metres further west and 175 metres south.
Assays from DDH MVL-11-10, about 175 meters south of DDH MVL-11-07, reveals 1.41% total rare earth oxides (TREO) over the entire 544.6-metre core length. This is unheard of anywhere outside China. DDH MVL-11-09, about 200 metres to the west of DDH MVL-10-03, reveals 1.51% TREO over the first 127.55 metres of core sample.
“These latest results confirm that it is one of the world’s most significant deposits of neodymium that can be accessed and exploited in the short term. Road and rail access and nearby hydroelectric services mean that the Montviel deposit can be mined in the near future,” said GéoMégA President Simon Britt.
Concentrations of neodymium oxide, 0.247% and 0.216% respectively on the intersections of DDH MVL-11-10 and MVL-11-09, remains the deposit star element. For more technical information and detailed drilling results, see www.ressourcesgeomega.ca
Today, rare earth elements, especially neodymium, dysprosium, europium, terbium and yttrium, are the most sought-after minerals on the planet. They are essential for many green energy applications, such as electric vehicles, windmills and LED lighting. They are also present in many existing and emerging technologies such as cell phones, fibre optics, lasers and hard drives.
“This is a major discovery for Québec’s economy. GéoMégA is a Québec company that sees the value of exploiting and processing this resource here in Québec. The Montviel project is clearly a potential creator of wealth for an entire region and its future generations,” added GéoMégA’s president.
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. Kateri Marchand, M.Sc., P. Geo, is qualified under Canadian Standard 43-101. She revised the technical information in this press release.
APPOINTMENT OF VICE PRESIDENT, EXPLORATION
GéoMégA is also pleased to announce the addition of Jacquelin Gauthier as Vice-President, Exploration. Mr. Gauthier has a degree in Geological Engineering and extensive expertise in geology and mining exploration. Over the years, he has served as Exploration Manager for major corporations such as Kinross Gold Corp, Bema Gold Corp, Cambior Inc. and Noranda Exploration Inc., and as President of Azimut Exploration Inc.
With his appointment, Mr. Gauthier has been granted 220,000 options. Each option gives the bearer the right to acquire one (1) common share at $2.70 over a five (5) year period following the grant date.
ABOUT GÉOMÉGA (ressourcesgeomega.ca)
GéoMégA, which owns 100% of the Montviel property, is a Québec mining exploration company specialized in finding economically viable deposits of elements needed by Green Technology. 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’s mining portfolio is located in the Abitibi and Upper Laurentian regions of Québec. GéoMégA currently has 19,563,290 common shares outstanding, 3,618,375 warrants and 1,145,000 options.
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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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 Corporation 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 Corporation’s filings with Canadian Securities Administrators. 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 Corporation expressly disclaims any obligation to update any forward- looking statements, except as required by applicable securities laws.