GeoMegA Resources Inc.
TSX VENTURE : GMA

GeoMegA Resources Inc.

August 02, 2011 09:29 ET

GeoMegA Announces Final Results of Phase 1 at Montviel. Highlights Include 2.15% TREO over 250.65 m in MVL 11-18 and 1.51% TREO over 520.65 m in MVL 11-15

MONTREAL, QUEBEC--(Marketwire - Aug. 2, 2011) - Geomega Resources Inc. (GéoMégA) (TSX VENTURE:GMA) is pleased to report the final assay results from its Phase 1 drill program on the Montviel property. Highlights include 2.15% TREO over 250.65 meters in hole MVL 11-18 from 133.55 meters, 1.51% TREO over 520.65 meters in hole MVL-11-15 from 28.35 meters and 1.31% TREO over 593.5 meters in MVL-11-16 from 27.5 meters.

The Phase 1 drill program consisted of 20 holes (18 in the Core Zone) totaling 10,065 meters. The rare earth mineralization is now confirmed over a strike length of 700 meters, a horizontal width up to 420 meters and a vertical depth up to 550 meters. The average grade increases to the West. The mineralization remains open to the North East, South West and at depth. Several holes ended in mineralization.

Neodymium oxide approximates 18% of the TREO in the Core Zone.

Significant REO assay results within the Core Zone and both exploration holes are listed in Table 1 and 2 respectively. Table 3 lists significant assay results for niobium and phosphate oxides.

"These last set of results confirm Montviel's world class content in neodymium. Montviel's location, in Quebec (Plan Nord eligible), road accessible, nearby electric power and rail networks, is equally world class. Our focus has shifted towards project economics while we pursue the definition of the deposit. Neodymium demand is fundamentally solid, combined with praseodymium and potential niobium and phosphate by-products, Montviel should compete with the more advanced rare earth projects in the near future." comments Simon Britt.

A 43-101 compliant resource estimate, based on the first 18 holes in the Core Zone, has been initiated by SGS Geostat Ltd. ("SGS") of Montreal, Quebec. The property visit was performed last June. The initial resource estimate is expected to be completed in or about September.

A map showing the location of drill holes will be posted shortly on GéoMégA's website at: http://www.ressouresgeomega.ca/project1.htm.

Table 1 - Significant REO Assay Results in Core Zone
Montviel Phase 1 Drilling Program
DDH No. UTM Coord. Drill From To Core length(1) TREO(2) Neodymium Oxide(3) Ratio
MHREO
Dip ° Az ° Easting Northing Section (m) (m) (m) (%) (%) TREO
MVL-10-01* -60 332 390184 5520388 2+00 W 21 501 480 1.24 0.220 3.5%
incl. 266.6 306 39.4 2.03 0.321 -
MVL-11-03* -55 328 389932 5520226 5+00 W 21.3 534 512.7 1.38 0.236 4.2%
incl. 132 183.8 51.8 2.28 0.340 -
MVL-11-04A* -53 327 390090 5520550 2+00 W 70.4 236.35 165.95 1.17 0.209 3.8%
MVL-11-05* -67 326 390090 5520549 2+00 W 33.5 429 395.5 1.19 0.190 3.7%
incl. 299.45 361.5 62.05 2.10 0.307 -
MVL-11-06* -55 323 390005 5520114 5+00 W 33.55 519 485.45 1.44 0.231 3.9% x
incl. 368.3 479.45 111.15 2.09 0.296 -
MVL-11-07* -55 330 390013 5520280 4+00 W 29.4 519 489.6 1.29 0.231 4.0%
incl. 151.9 193.3 41.4 1.91 0.318 -
MVL-11-08* -55 320 390111 5520327 3+00 W 20.1 501 480.9 1.38 0.229 2.5% x
incl. 348.6 421.7 73.1 2.00 0.315 -
MVL-11-09* -54 327 389762 5520062 7+00 W 27 154.55 127.55 1.51 0.216 3.6%
incl. 54.2 71.45 17.25 2.00 0.255 -
MVL-11-10* -55 324 390146 5520146 3+50 W 22.4 567 544.6 1.41 0.246 3.7% x
incl. 421.5 513 91.5 2.00 0.305 -
MVL-11-11 -54 327 390311 5520277 1+00W 329.8 587 257.2 1.04 0.208 4.6% x
incl. 576 587 11.0 1.68 0.310 -
MVL-11-12 -60 330 390289 5520415 1+00W 67.9 468.7 400.8 1.13 0.194 4.5%
incl. 334.4 344.7 10.3 2.06 0.373 -
incl. 395.9 405.8 9.9 2.16 0.413 -
MVL-11-13A -55 333 390232 5520512 1+00 W 18.4 252 233.6 0.92 0.180 5.0%
incl. 164.45 225.15 60.7 1.32 0.272 -
MVL-11-14 -53 330 390050 5520419 3+00 W 29.5 453 423.5 1.28 0.206 3.0% x
incl. 404.6 453 48.4 2.08 0.337 -
MVL-11-15 -83 302 390113 5520326 3+00 W 28.35 549 520.65 1.51 0.278 3.0% x
Incl. 244.3 270.7 26.4 2.16 0.404 -
Incl. 467.25 482.1 48.7 2.05 0.325 -
MVL-11-16 -55 330 390073 5520166 4+00 W 27.5 621 593.5 1.31 0.241 3.6%
incl. 413.1 428 14.9 2.19 0.369 -
incl. 497.5 517.7 20.2 1.94 0.267 -
MVL-11-18 -54 287 389942 5520211 5+00 W 28.55 384.2 355.65 1.92 0.299 3.0%
incl. 133.55 384.2 250.65 2.15 0.320 -
MVL-11-19 -55 325 389876 5520335 5+00 W 50.75 334.75 284 1.40 0.239 2.8%
MVL-11-20 -65 328 390035 5520042 5+00 W 22.00 507.0 485 1.02 0.171 4.4%
incl. 36.05 53.2 17.15 2.14 0.303 -
1) True width is estimated to be 70% to 100% of core length;
2) Cerium, Lanthanum, Neodymium and Praseodymium are the most abundant REO;
3) 0.1% = 1 kg/t;
x Ended in mineralization
* Previously disclosed
Table 2 - Exploration Holes Assay Results
Montviel Phase 1 Drilling Program
DDH No. UTM Coord. From
(m)
To
(m)
Core
length

(m)
TREO Neodymium
Oxide
Ratio
MHREO
TREO
Dip ° Az ° Easting Northing (%) (%)
MVL-10-02 -45.5 340 389166 5519482 42.0 284.9 242.9 0.30 0.035 11.4%
MVL-11-17 -56 330 390495 5520390 329.35 388.3 58.95 0.93 0.117 6.8%
Incl. 360 388.3 28.3 1.34 0.157 -
Table 3 - Significant Niobium and Phosphate Assay Results
Montviel Phase 1 Drilling Program
Niobium Phosphate
Drill Hole No. From
(m)
To
(m)
Core
length
(m)
Nb2O5
(%)
From
(m)
To
(m)
Core
length
(m)
P2O5
(%)
MVL-10-01 280.95 306.0 25.05 0.251
incl. 424.5 457.55 33.05 0.163
MVL-10-03 246 513.0 267 0.210 21.3 79.7 58.4 5.41
incl. 475.35 510.0 34.65 0.354
MVL-11-04A 203.65 241.95 38.3 0.179
MVL-11-05 243 268.3 25.3 0.256
incl. 310.4 412.5 102.1 0.230
incl. 338.95 361.5 22.55 0.450
MVL-11-06 318.0 428.8 108.8 0.208 35.0 206.1 171.1 6.58
398.4 482.55 84.15 0.241
incl. 398.4 427.5 29.1 0.401
MVL-11-07 324.9 395 70.1 0.246 29.4 73.25 43.85 5.31
incl. 501.1 519 17.9 0.538
MVL-11-08 351.0 377.8 26.8 0.285 80.6 91.5 10.9 8.57
incl. 455.4 501 45.6 0.132
MVL-11-09 129.9 169.25 39.35 0.227 460.9 478 17.1 18.4
MVL-11-10 186.4 327.95 141.55 0.180 22.4 197.3 174.9 7.35
incl. 224.4 306 81.6 0.224
incl. 403.4 439.35 35.95 0.188
incl. 496.3 535.7 39.4
MVL-11-11 292.0 455.7 163.7 0.152 34.6 129.4 94.8 4.27
incl. 393.0 455.7 62.7 0.233 178.9 205.4 26.5 5.33
MVL-11-12 229.5 493.6 264.1 0.179
incl. 304.5 344.7 40.2 0.162
incl. 382.1 487.35 105.25 0.26
incl. 458.15 468.7 10.55 0.511
MVL-11-13A 129.0 147.35 18.35 0.172
166.9 237.75 70.85 0.18
incl. 175.8 199.5 23.7 0.29
incl. 175.8 189.55 13.75 0.414
incl. 219.55 237.75 18.2 0.199
MVL-11-14 150.2 165.7 15.5 0.121
237.55 298.9 61.35 0.153 106 162.8 56.8 5.24
338.45 429.65 91.2 0.206
incl. 373.3 416.75 43.45 0.285
MVL-11-15 171 549 378 0.151
incl. 243 276.8 33.8 0.202 91.05 119.3 28.25 7.05
incl. 477.2 549 71.8 0.242
MVL-11-16 60.9 434.95 374.05 0.131 27.5 134.2 106.7 6.09
incl. 317.45 37.7 30.25 0.201
incl. 366.7 434.95 68.25 0.21
incl. 413.1 434.95 21.85 0.344
MVL-11-17 272.5 282 9.5 0.181 329.35 388.3 58.95 5.40
MVL-11-18 117.95 430.6 312.65 0.270 28.55 89.3 60.75 6.05
incl. 205.35 390.3 184.95 0.346
incl. 237.65 270.8 33.15 0.606
incl. 346.0 385.65 39.65 0.441
MVL-11-19 116.15 144.4 28.25 0.196
177.7 205.1 27.4 0.194
267.9 419 151.1 0.138
incl. 267.9 282 14.1 0.269
MVL-11-20 46.5 77.8 31.3 0.126 164.35 272.05 107.7 4.42
112.25 134.4 22.15 0.151
316.55 329.0 12.45 0.147
439.65 505.85 66.2 0.151

NI 43-101 Disclosure

Kateri Marchand, M.Sc., P. Geo, a qualified person as defined by National Instrument 43-101, supervised the preparation of the technical information in this news release.

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.

Total Rare Earth Oxides ("TREO") include: La2O3, Ce2O3, Pr2O3, Nd2O3, Sm2O3, Eu2O3, Gd2O3, Tb2O3, Dy2O3, Ho2O3, Er2O3, Tm2O3, Yb2O3, Lu2O3, and Y2O3.

Middle and Heavy Rare Earth Oxides ("MHREO") is the sum of the middle rare earth oxides (Sm2O3, Eu2O3, Gd2O3) and the heavy rare earth oxides (Tb2O3, Dy2O3, Ho2O3, Er2O3, Tm2O3, Yb2O3, Lu2O3) plus Y2O3 expressed as a percent out of the TREO content.

About GéoMégA

GéoMégA, which owns 100% of the Montviel property, is a Québec mining exploration company focusing on finding economically viable deposits of elements needed by Clean Technologies. 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 currently has 21,735,399 common shares outstanding and is well funded.

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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