Montviel's Core Zone Initial NI 43-101 Mineral Resource Comes Up Big: 183.9 Million Tonnes Indicated Averaging 1.45% TREO and 66.7 Million Tonnes Inferred Averaging 1.46% TREO
Extraordinary Neodymium deposit in Quebec close to available electricity and labour.
MONTREAL, QUEBEC--(Marketwire - Sept. 29, 2011) - Geomega Resources Inc. (GéoMégA) (TSX VENTURE:GMA) is pleased to announce the initial National Instrument 43-101 compliant mineral resource estimate of the Core Zone at its 100% owned Montviel's carbonatite rare earth elements (REE) property in Abitibi, Québec. The resource estimate was prepared by Claude Duplessis, P. Eng., and Guy Desharnais, Ph.D., P.Geo., independent Qualified Persons of SGS Canada Inc. - Geostat ("SGS Geostat") of Blainville, Québec.
Montviel's "Core Zone" base case resource estimate, using a Total Rare Earth Oxide (TREO) cut-off grade of 1.00%, hosts an Indicated mineral resource of 183,900,000 tonnes grading 1.45%TREO in addition to an Inferred mineral resource 66,700,000 tonnes grading 1.46% TREO. Highlights include at the base case 1.00% TREO cut-off grade (Tabelle: siehe Link)
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"A round of applause for GéoMégA's technical team who within its first year since the IPO, masterfully identified one the of largest Indicated mineral resource of TREO outside China at our 100% owned Montviel property. A spectacular achievement performed by a high calibre team. This world class Neodymium resource is in Québec (Plan Nord eligible), near surface (open pit potential), road accessible and close to electricity and available labour (60 min drive from Lebel-sur-Quévillon). The mineral study revealed known Rare Earth Elements (REE) carrying minerals (see press release dated August 24, 2011 and September 7, 2011) which are amenable to concentration and separation by recognized metallurgical processes. Montviel has the potential to play a significant near term role in the clean energy of the 21st century." said Mr. Simon Britt, CEO of GéoMégA.
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