QUEBEC – GeoMegA Resources of Montreal announced the first 43-101 report for the Core zone at its Montviel carbonatite rare earth elements (REE) property in Abitibi. The estimate puts indicated resources at 183.9 million tonnes grading 1.45% TREO (total rare earth oxides). The inferred resources is another 66.7 million tonnes at 1.46% TREO. A base case cut-off of 1.00% TREO was used.
The company said mineralization remains open to the west, south and at depth. The grade increases to the west with hole MVL-11-18 returning 2.15% TREO over 250.65 meters from 133.55 metres. Phase 2 drilling is in progress to define high grade, near surface mineralization in that area.
The principle mineral of interest to GeoMegA is neodymium, used primarily in permanent magnets for industrial applications. The Montviel deposit is estimated to contain as much as 606.0 million kg of Nd2O3 in situ.
A detailed press release about the 43-101 report is posted at www.RessourcesGeoMegA.com.