QUEBEC – Montreal-based
GeoMegA Resources has the support of the Quebec government for the development of rare earths separation technology. As part of the Plan Nord program, and of the Réseau Capital Baie-James, specifically the Société de développement de la Baie-James (SDBJ) and the Administration régionale Baie-James (ARBJ), the government is investing in the share capital of
Innord to develop its proprietary process.
Innord, a wholly owned subsidiary of GeoMegA, will receive a total of $500,000, half of which will be held in escrow pending TSXV approval of the documentation. GeoMegaA’s share of Innord will then be 96.1%.
The investment will be used to develop a prototype to separate mixed rare earth elements concentrates into pure, individual rare earth oxides. Innord holds the rights to a electrophoresis process that involves the migration of charged species (ions, proteins or particles) in solution in the presence of an electric field. Patents are pending.
GeoMegA is the owner of the Montviel REE-niobium property 100 km north of Lebel-sur-Quevillon in northern Quebec. Last year the company released a resource estimate including 82.4 million indicated tonnes grading 1.51% TREO (total rare earth oxide) and 184.2 million inferred tonnes at 1.43% TREO.
Technical reports and studies for the Montviel project are posted at
www.GeoMegA.ca.
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