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Montreal-based GeoMega announced the results from its Phase I diamond drilling program conducted on the Montviel property in Abitibi, Québec. Assay results from drill holes (DDH) MVL-11-09 and MVL-11-10 confirm that the mineralized zone of rare earth elements extends 200 metres further west along strike and, extends an additional 175 metres south on section 3+50 W with mineralization now defined over an area of 500 meters along strike and 400 meters width and down to a depth of 450 meters.
Assaysfrom DDHMVL-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. 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. Concentrations of Neodymium oxide, 0.247% and 0.216% respectively on the intersections of DDH MVL-11-10 and MVL-11-09, remain the deposit’s star element.
“These latest results confirm that it is one of the world’s most significantknown deposits of neodymium that can be developed quickly given the excellent local infrastructure such as road access, nearby hydroelectric services and rail.” said GéoMégA President Simon Britt.
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, wind turbines 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. KateriMarchand, M.Sc., P. Geo, is qualified under Canadian Standard 43-101. She revised the technical information in this press release.
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.
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.
For more technical information and detailed drilling results, see the company website.
