GEOMEGA INTERSECTS 1.44 % TREO OVER 485.45 METERS IN HOLE MVL-11-06 AT MONTVIEL, INCLUDING 2.09 % TREO OVER 111.15 METERS
Published : March 31, 2011
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Keywords :   Lithium | Niobium |

MONTREAL, March 31 /CNW Telbec/ - GEOMEGA RESOURCES INC. ("GéoMégA") (TSXV: GMA) is pleased to report the assay results from 3 drill holes extending the rare earth mineralization in the core zone to the north on section 2+00 West and to the south on section 5+00 West.

Hole MVL-11-06 (azimuth 323°, dip -55°; depth: 519 m) was collared 135 meters south of previously released hole MVL-11-03 (see press release dated February 14, 2011), on section 5+00 West. The hole intersected 1.44% total rare earth oxide (TREO) over its entire 485.45 meter core length from 33.35 meters to 519 meters, including 2.09% TREO over 111.15 meters from 368.3 meters to 479.45 meters. This is the longest intercept over 2% TREO to date. The hole ended in mineralization with 1.97% TREO over the last 16.4 meters from 502.6 meters to 519 meters.

In addition, significant phosphate mineralization was intersected in hole MVL-11-06 with 6.58% P2O5 over 171.1 meters from 35 meters to 206.1 meters.

The mineralization on section 5+00 West now extends over a horizontal distance of 400 meters from the collar of hole MVL-11-06 to the end of hole MVL-10-03, and to a vertical depth of approximately 450 meters. The mineralization remains open in all directions.

Holes MVL-11-04A (azimuth 327°, dip -53°; depth: 459 m) and, MVL-11-05 (azimuth 326°, dip -68°; depth: 483 m) were both collared 185 meters north of hole MVL-10-01 (see press release dated February 8, 2011) on section 2+00 West. Both holes intersected a magnetic pyroxenitic intrusion at, 236.25 meters in hole 11-04A and 361.5 meters in hole 11-05, marking the northern limit, on section 2+00 West, of the carbonatite core unit. Hole MVL-11-04A intersected 1.17% TREO over 165.95 meters from 70.4 meters to 236.35, before intersecting the carbonatite-ultramafic intrusive contact. Hole MVL-11-05 intersected 1.19% TREO over 395.5 meters from 33.5 meters to 429 meters, including 2.10% TREO over 62.05 meters from 299.45 meters to 361.5 meters.

The mineralization, on section 2+00 West, extends over a horizontal distance of 350 meters, from the collar of hole MVL-10-01 to the carbonatite-pyroxenitic intrusive contact. The mineralization remains open to the south, east, west and at depth.

A total of 15 holes representing over 7,500 meters of drilling have now been completed in the core zone at Montviel. Assay results for the remaining 10 holes, which tested the continuity and the extension along strike of the mineralization, are pending.


Significant Assay Results
2010-2011 Montviel Phase 1 Drilling Program
  
Drill Hole 
No.
UTM Coord.   Drill   From 
(m)
  To
(m)
Core
length(1)  
(m)
TREO (2) Nd2O3  P2O5
Easting Northing   Section   (%) (%) (%)
MVL-11-01(3)  390184 5520391   2+00 W   21   501 480 1.24 0.220 -
incl. 266.6   306 39.4 2.03 0.321 -
MVL-11-03(3) 389934 5520226   5+00 W   21.3   534 512.7 1.38 0.236 -
incl. 132   183.8 51.8 2.28 0.340 -
  21.3   79.7 58.4 - - 5.41
MVL-11-04a 390090 5520554   2+00 W   70.4   236.35 165.95 1.17 0.209 -
MVL-11-05 390090 5520553   2+00 W   33.5   429 395.5 1.19 0.190 -
incl. 299.45   361.5 62.05 2.10 0.307 -
MVL-11-06 390007 5520115   5+00 W   33.55   519 485.45 1.44 0.231 -
incl. 368.3   479.45 111.15 2.09 0.296 -
    35   206.1 171.1 -   6.58
(1) True widths represent 80 to 100% of core lengths
(2) TREO = Total Rare Earth Oxides  + Y2O3
(3) Previously released assay results

Samples from the first 5 drill holes previously analysed for niobium by the ICP-MS method are being re-analysed by the X-ray fluorescence method which is more accurate if the samples contain phosphates.

"Neodymium oxide continues to be an important component of the TREO with an average grade of 0.22% (2.2 kg/ton) over the 2,039.6 meters of results released to date. The developing phosphate potential could add significant value to Montviel." comments Simon Britt.

The Montviel property, located 200 km north of Val-d'Or in the Abitibi region of Quebec, is underlain by the Montviel carbonatite complex which extends over an area of 32 km2 making it one of North America's largest carbonatite. GéoMégA has a staged option agreement with NioGold Mining Corp. (TSX-V: NOX) whereby it can earn up to 100% interest in the property. See details of the agreement in the November 11, 2010 press release.

Assaying and Quality control

All analysis is carried out by ALS Global at their Vancouver laboratory. The analyses conducted on all samples are done by lithium metaborate fusion, followed by ICP analysis with mass spectrometry finish. Specific assays by XRF are done for niobium.

Quality assurance and control is done through the systematic insertion of REE standards, blanks, and duplicates.

Kateri Marchand, M.Sc., P.Geo, is a qualified person as defined under NI 43-101 guidelines and has reviewed the technical information contained in this press release.

About GéoMégA

GéoMégA is a Quebec based mineral exploration company focused on the discovery and development of economic REE deposits. GéoMégA's exploration properties are located in the Abitibi and Upper Laurentian regions of Quebec.

Currently, GéoMégA has 17,565,477 common shares outstanding and $2.7M in cash.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture exchange) accepts responsibility for the adequacy or accuracy of this release.

For further information:

Simon Britt, CA
President and CEO
GéoMégA
T: 450-465-0099
E: info@ressourcesgeomega.ca

Geo Minerals

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Geo Minerals is a copper exploration company based in Canada.

Geo Minerals holds various exploration projects in Canada.

Its main exploration properties are RED DEER LAKE, WAPAWEKKA, RED HILLS ARIZONA, SILVER BELL WEST PROPERTY, COPPER SPRINGS PROJECT, MIDDLE MOUNTAIN, WHISKEY GAP and WINDFALL in Canada.

Geo Minerals is listed in Canada. Its market capitalisation is CA$ 19.2 millions as of today (US$ 18.5 millions, € 14.2 millions).

Its stock quote reached its highest recent level on June 13, 2008 at CA$ 0.88, and its lowest recent point on December 24, 2008 at CA$ 0.03.

Geo Minerals has 113 102 000 shares outstanding.

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