Highlights of this news release :
- Visible gold at the beginning of drill hole AK-15-16, 12.06 g/t over 1 meter
- New open mineralized sedimentary unit
- 1st diamond drilling campaign (« Phase 1 ») completed
Montreal, January 28, 2015 – Geomega Resources Inc. (“GéoMégA” or the “Company”) (TSX.V: GMA) is pleased to announce the intersection of visible gold in a quartz vein within a new silicified and mineralized sedimentary unit. The new mineralized zone was intersected in the first meters of drill hole AK-15-16 realized in the ORBI showing area. The sample containing visible gold returned a gold grade of 12.06 g/t over 1 meter (average of one gravimetric and two atomic absorption analysis). A re-analysis by the “Metallic sieve” method will give the exact gold content of the sample. The adjustment will be disclosed with the final compilation of the 22 drill holes and results.
CLICK HERE to download the Phase 1 drill holes map.
“The discovery of a new sedimentary unit containing quartz veins, with one having visible gold, is very encouraging and demonstrates the fertility of the area. However we must remain cautious, this type of mineralization can be random or intermittent and erratic distribution of gold in the veins can make it difficult to confirm extensions. Nevertheless, the surrounding sedimentary unit, also anomalous in gold (0,68 g/t Au over 1.0 meter), will facilitate the future investigation of this mineralized zone for which the true width is still unknown.” comments Alain Cayer, Vice-President Exploration of GéoMégA.
Phase 1 completed
Phase 1 on the Anik project finished with 22 drill holes totalling 4,800 meters. The total cost per meter of drill holes AK-14-1 to AK-14-15 is estimated at $ 125. The results of the final seven drill holes (AK-15-16 partial and AK-15-17 to 22) are expected in February 2015.
About the Anik gold project
Anik benefits from a permanent road access and, in the immediate vicinity, public infrastructure and an experienced workforce. The project is located 40 km south of the town of Chapais, Québec. The property is royalty free and owned 100% by the Company.
NI 43‐101 Disclosure
Alain Cayer, P. Geo., MSc., Vice-President Exploration of GéoMégA, is the Qualified Person under NI 43-101 guidelines who supervised and approved the preparation of the technical information in this news release.
All samples have been assayed at the ALS Global laboratory in Val-d’Or by standard fire assay followed by atomic absorption and by gravimetry if results are greater than 0.50 g/t Au. A multi-elemental analysis by aqua-regia and spectroscopy (ICP-AES/MS) will be realized at the ALS Global laboratory in Vancouver, for each sample. Quality controls include systematic addition of blank samples and certified gold standards to each batch sample sent to laboratories.
About GéoMégA (www.geomega.ca)
GéoMégA is a mineral exploration and evaluation company focused on the discovery and sustainable development of economic deposits of metals in Québec. GéoMégA is committed to meeting the Canadian mining industry standards and distinguishing itself with innovative engineering, stakeholders’ engagement and dedication to local transformation benefits.
56,989,560 common shares of GéoMégA are currently issued and outstanding.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information please contact:
| Simon Britt | Kiril Mugerman |
| President and CEO | Director of Corporate Development |
| GéoMégA | GéoMégA |
| 450-465-0099 | 450-465-0099 ext.3 |
| info@geomega.ca | info@geomega.ca |
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 Company and involve a number of risks and uncertainties. As a consequence, actual results may differ materially from results forecasted 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 Company’s filings with Canadian securities agencies. 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 Company expressly disclaims any obligation to update any forward- looking statements, except as required by applicable securities laws.