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Additional Information
Market:TSX-V
Sector:General Mining
EPIC:GMA
Latest Price: 0.36  (5.88% Ascending)
52-week High:3.45
52-week Low:0.34
Market Cap:10.40M
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GeoMega Resources Full GeoMega Resources profile here

GéoMégA is a Montreal-based exploration company focused on the discovery and development of economic deposits of Clean Technology metals in Quebec. The Province of Quebec is one of the world's most attractive jurisdictions for mineral exploration and development. Significant tax credits (40% of exploration expenditures reimbursed), experienced work force and validity of mining claims are all distinct advantages. As society emerges from fossil energy to a more efficient eco-friendly source, GéoMégA believes that the drivers of the 21st century Clean Technology metals are the Rare Earth Elements (“REE”). These elements are critical to clean energy technologies (electric vehicles, wind power turbines, light-emitting diode light source), existing and emerging high-tech uses (cell phones, fiber optics, lasers, hard disk drives) and numerous defense applications. These elements are the foundation of the 21st century's economic sustainability and durable development.

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GeoMega expects "significant tonnage" in upcoming rare earth estimate at Montviel

Tuesday, May 03, 2011 by Deborah Sterescu

GeoMega Resources (CVE:GMA) reported Thursday results from two drill holes at its Montviel rare earth property in Quebec, proving the continuity of mineralization between two sections.

Hole MVL-11-07  intersected 1.29% Total Rare Earth Oxides (TREO) over 489.6 metres, including 1.91% TREO over 41.4 metres.

The company said that significant phosphate and niobium oxide mineralization was also intersected in the hole, with 5.31% P2O5 over 43.85 metres, and 0.129% Nb2O5 over 489.6 metres.

Meanwhile, hole MVL-11-08 returned 1.38% TREO over 480.9 metres, including 2.00% TREO over 73.1 metres. The hole ended in mineralization with 2.06% TREO over the last 39 metres.

The company said that the holes prove that rare earth mineralization continues between section 2+00W and 5+00W.

Mineralization now remains open west of section 5+00W, east of section 2+00W, to the south and at depth. An NI 43-101 compliant mineral resource estimate is due to be initiated soon, as the company receives the final results of the phase one drilling program, which ended last week.

"Significant tonnage is expected," said president and CEO Simon Britt.

A total of 19 holes for 9,567 meters were drilled in the phase one program at Montviel, covering an area of approximately 700 m on strike by 400 m width, and to a vertical depth of up to 450 m.

GeoMega can earn up to 100% of Montviel, located 200 km north of Val-d'Or in Quebec's Abitibi region, from NioGold Mining (CVE:NOX).

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