GeoMegA to begin phase 2 exploration at Montviel next week

GeoMegA Resources (CVE:GMA) announced Wednesday it will begin phase 2 exploration at its wholly owned Montviel rare earth elements (REE) property, located in the Abitibi region of Quebec.
The phase 2 program includes a diamond drill campaign, designed to complete a drill pattern measuring 100 metres by 100 metres over the Core zone, originally defined over 18 drill holes during the phase 1 program.
The phase 2 campaign, expected to begin on September 12 with two diamond drill rigs, will focus on the southwestern region of the Core zone, where some of the best phase 1 results were intersected, including 250.65 metres grading 2.15% total rare earth oxides (TREO) in hole DDH MVL-11-18.
Currently, this Core zone, which was defined to a minimum length of 750 metres, down to a a depth of at least 550 metres, and a width of between 300 and 450 metres, remains open to the southwest, with average grade values increasing in that direction.
Later this fall, one of the two diamond drill rigs will be moved to test over six targets defined by previous exploration work, including the southwest extension of a unit of breccias.
While the TREO content of this breccia unit is lower than the Core Zone at between 0.1% and 0.9% TREO, the mid- and heavy- REO content improves toward the west, as shown in DDH MVL-11-09, which found 17.7 metres grading 28% mid- to heavy- REO.
GeoMegA also said its NI 43-101 compliant resource estimate is underway for the Montviel property. It will be based on 18 holes drilled in the Core zone, and is expected for release at the end of September.
In addition, the company is conducting bench-scale metallurgical tests, which will begin in early September, with results available in the first quarter of 2012.
"Phase 1 drilling results are excellent. We are optimistic that the initial NI 43-101 compliant resource will allow us to confirm that our Montviel property represents one of the largest Neodymium deposits in the world," said president Simon Britt, adding that the phase 2 drilling and metallurgical tests will uncover the property's full potential.
GeoMegA's stock on the TSX-Venture Exchange rose 5.26% as at 10:00 am EDT, trading at $2.00 per share.